Important Notes: 1 Manulife Global Fund – Asia Pacific REIT Fund (“Manulife Asia Pacific REIT Fund” or the “Fund”) invests primarily in equities and equity-related securities in the Asia Pacific ex-Japan region,

which exposes investors to equity market risk as well as geographic concentration and currency risk.2 The Fund invests in real estate investment trusts (“REITs”), which may expose investors to sector concentration and real estate-related risks.3 The relevant distributing class of the Fund does not guarantee distribution of dividends, the frequency of distribution and the amount/rate of dividends. Dividends may be paid out of income,

realised capital gains and/or out of capital of the Fund in respect of Inc share class(es). Dividends may be paid out of realised capital gains, capital and/or gross income while charging all or part of their fees and expenses to capital (i.e. payment of fees and expenses out of capital) in respect of MDIST (G) and R MDIST (G) share class(es). Dividends paid out of capital of the Fund amounts to a return or withdrawal of part of the amount of an investor’s original investment or from any capital gains attributable to that original investment and may result in an immediate decrease in the net asset value per share in respect of such class(es) of the Fund.

4 The extensive use of FDIs does not form part of the investment strategy of the Fund, however the Investment Manager may from time-to-time use FDIs for the purposes of efficient portfolio management and/or hedging. The use of derivatives exposes the Fund to additional risks, including volatility risk, management risk, market risk, credit risk and liquidity risk.

5 Investment involves risk. The Fund may expose its investors to capital loss. Investors should not make decisions based on this material alone and should read the offering document for details, including the risk factors, charges and features of the Fund and its share classes.

6 Given RMB is currently not a freely convertible currency, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB. As offshore RMB (CNH) will be used for the valuation of RMB denominated Class(es), CNH rate may be at a premium or discount to the exchange rate for onshore RMB (CNY) and there may be significant bid and offer spreads and thus the value of the RMB denominated Class(es) will be subject to fluctuation. Any devaluation of RMB could adversely affect the value of investors’ investments in the RMB denominated Class(es) of the Fund.

manulifefunds.com.hk The Fund is authorised by the Securities and Futures Commission of Hong Kong (“SFC”). SFC’s authorisation of the fund is not made under the Code on Real Estate Investment Trust and does not imply official recommendation.

Manulife Asia Pacific REIT Fund

September 2020

2 Manulife Asia Pacific REIT Fund

Why Asia Pacific REITs?

Solid dividend income potential

Measured by FTSE Nareit index, Asia ex-Japan REITs have registered around 13.2%* annualised return for the period from 2009 to end of 1Q 2020 with dividend income contributing more than 40%.

The average dividend yield of Asia ex-Japan REITs stands at around 6.7%*.

* Measured by FTSE EPRA Nareit Asia ex-Japan REITs 10% Capped USD index.

What are REITs?

REITs, or Real Estate Investment Trusts, are collective investment schemes that are listed as corporate stocks. REITs investors own the property indirectly through share units which they hold and regularly gain income from the property’s portfolio.

How do REITs work?REITs have a simple business model: Generating income by leasing out properties. The property is managed by a professional team which actively seeks to lift the value of the property and the rent to increase potential income.

Different types of REITsREITs aim to deliver a source of recurrent income to investors through focused investment in a portfolio of income-generating properties such as shopping malls, offices, hotels and service apartments.

How do REITs generate income

REITs by sectors

REIT Yield Equity Dividend Yield 10Y Government Bond Yield

REITs

RecurrentIncome

Regular income and dividends

Rental income and value appreciation

Retail REITse.g. Retail stores, shopping malls and outlet centres

Industrial REITse.g. Warehouses, logistics centres and data centres

Office REITse.g. Grade A office, office parks and offices in industrial areas

Healthcare REITse.g. Hospital, seniors facilities, nursing home and cosmetic surgery centres

Hotel and Resort REITsDifferent classes of hotels & resort based on features such as the hotels’ level of service and amenities

Diversified REITsOwn and operate two or more types of properties

REITs investors

Property portfolio

Fig 1. Yield comparison vs Equity/Government bond

8

6

4

2

0Hong Kong Singapore Australia

6.17%7.43%

6.86%

4.40%5.40% 5.02%

0.61%1.29%

0.76%

Source: Bloomberg, as of 31 March 2020.REIT Yield: Australia REIT – S&P/ASP 200 A-REIT Index, Hong Kong REIT – Hang Seng REIT Index, Singapore REIT – FTSE Straits Times REIT Index.Equity Dividend Yield: Australia equity – S&P/ASX 200 Index, Hong Kong equity – Hang Seng Index, Singapore equity – Straits Times Index.For illustrative purposes only. Past performance is not an indication of future results.

%

Manulife Asia Pacific REIT Fund 3

Manulife’s investment expertise

Manulife Asia Pacific REIT Fund

Aims to achieve return and income

Dividend schedule

REITs distribute stable dividends to investors from rental income, while real estate stocks further offer capital appreciation potential during different market and industry cycles.

This Fund mainly invests in REITs in Singapore, Hong Kong and Australia. The dividend yields in these markets are relatively higher than other investment vehicles (see Fig 1); furthermore, given the relative maturity of these markets, they can provide investors with a relatively stable stream of income.

Aims to distribute dividends monthly

Professional management

1 Manulife Investment Management. Data as of 31 December 2019. Value of assets under management is rounded up to the nearest USD 1 billion.

2 Data as of 31 December 2019. Some professionals may support additional asset classes.

For illustrative purpose only; and does not represent actual investment.

Long-term development strategies, such as mergers and acquisitions, can further drive potential returns.

80+ yearsInvestment experience property investments, and assets and property management

USD 20+ billion1

Assets under management in Asian Equity assets

170+Professionals2 based in Asia

REITs benefit from Asset Enhancement Initiatives, which can help to further increase property values and maintain sustainable rental income.

Active tenancy management can further increase occupancy rates.

REITsStable income

Attractive dividend yield Steady rental income Defensive characteristics Leveraging active property

and tenant management

Property developersCapital appreciation

Appreciation potential Cyclical industry Profit from sales Constantly launch new

properties

514432

(The distribution amount is not guaranteed. Distribution may be paid out of capital. Refer to Important Note 3)

* Source: Manulife Investment Management, as of 1 April 2020, refers only to Class AA (USD) MDIST(G). Annualised yield = [(1+distribution per unit/ex-dividend NAV) ^distribution frequency per annum]–1, the annualised dividend yield is calculated on the basis of the latest relevant dividend distribution and dividend reinvested, and may be higher or lower than the actual annual dividend yield. Please note that dividend is not guaranteed, and a positive dividend yield does not imply a positive return. Dividend yield increases sharply due to the significant drop in NAV. Please refer to http://www.manulifefunds.com.hk for the historical distribution yield records.

Record date

Ex-dividend date

Ex-dividend NAV*

AA (USD) MDIST (G)

Dividend per share Annualised dividend yield*

31-03-2020 01-04-2020 $0.8143 0.0041 6.21%28-02-2020 02-03-2020 $1.0256 0.0041 4.90%

31-01-2020 03-02-2020 $1.0677 0.0041 4.71%

4 Manulife Asia Pacific REIT Fund

Manulife AsiaPacific REIT Fund

Marco GiubinBased in Hong Kong, Marco is Managing Director and Senior Portfolio Manager for Manulife Investment Management’s income-orientated Asia Pacific equity strategies.

Hui Min NgBased in Singapore, Hui Min is responsible for Singapore equity, balanced and regional REIT portfolios.

Q&A with Investment Team September 2020

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Unless otherwise stated, all information sources are from Manulife Investment Management, as of 31 August 2020. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, and affect fund performance. For example, the novel coronavirus disease (COVID-19) has resulted in significant disruptions to global business activity. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social and economic risks. Any such impact could adversely affect the fund’s performance, resulting in losses to your investment. The information in this material may contain projections or other forward-looking statements regarding future events, targets, management discipline or other expectations, and is only as current as of the date indicated. There is no assurance that such events will occur, and may be significantly different than that shown here. Past performance is not indicative of future performance. Information about the asset allocation is historical and is not an indication of the future composition.

1 Source: Bloomberg, Manulife Investment Management, as of 31 August 2020. REITs performances were represented by the FTSE EPRA Nareit Asia ex Japan REIT Index and sub-indices.

2 Source: Hong Kong Monetary Authority, as of 19 August 2020. Issued by Manulife Investment Management (Hong Kong) Limited. This material has not been reviewed by the Securities and Futures Commission (SFC). The Fund is authorised by the Securities and Futures Commission of Hong Kong

(“SFC”). SFC’s authorisation of the Fund is not made under the Code on Real Estate Investment Trust and does not imply official recommendation.

Q: How have Asia Pacific REITs markets performed in August? A: Major Asia REITs markets closed higher in August, led by both Australia and Hong Kong

markets1. Sentiment remained broadly positive as investors looked past record daily COVID-19 cases and focused on re-opening of economies and potential easing of social distancing measures towards end of 2020.

Australia REITs market outperformed the region, underpinned by strong gains from the diversified REITs on better-than-expected operating earnings growth1. Retail REITs reported weaker than expected operating numbers for the first half of 2020 and did not provide any earnings/dividends guidance for financial year 2021.

Both Hong Kong REITs and developers recovered in August1, as the latest wave of COVID-19 infections was brought under control. Social distancing measures were gradually relaxed from end of August. To help property owners in the commercial sector, the Hong Kong Monetary Authority has increased loan to value ratios for non-residential properties by 10ppt, to 50%2.

Singapore REITs underperformed the region, closing August in the red1. Retail and hotel REITs fared relatively better as investors added positions in anticipation of easing of borders restrictions and social distancing measures by end 2020. REITs managers shared that retail tenant sales have recovered faster than foot traffic, an encouraging sign that distribution income that was retained in the first quarter of 2020 might be returned in the second half of 2020. The Singapore government also announced a seven-month extension of wage subsidies under the Jobs Support Scheme (JSS) and a new initiative to bolster hiring in still-growing sectors.

Q: What are the drivers of the Fund performance in August? A: The positive performance of REITs in Australia, Singapore and non-REIT real estate

holdings in Hong Kong contributed to the Fund. Singapore Industrial REITs detracted from performance on the back of profit taking given the strong year-to-date performance.

Two of the top contributors during the month were Australian REITs that both announced results that beat expectations while providing positive guidance for financial year 2021 which provided investors with confidence in each of the REITs operational execution. Also contributing was a Hong Kong real estate company with China retail exposure. The company performed well as its China retail rental portfolio recovered quickly after April and announced that its interim dividend was flat year-on-year despite the challenges in the first half.

Detracting from performance were names in the industrial and logistics sector given the strong year to date performance. We believe that this was a result of profit taking as the structural growth trends for the sector remain intact. Growth in e-commerce and subsequently, logistics and warehousing and data center demand should continue to drive positive results going forward.

Q: What is investment outlook of Asia Pacific REIT markets? A: We believe market is likely to stay choppy as the tug of war between the resurgence

of COVID-19 infection cases and positive development on vaccines continues. Politics could also be an increasing driver for financial markets with the rising US-China tensions and the approaching US Presidential Election in November.

We believe any second infection wave is likely to be better managed in developed Asia economies with localised/targeted tightening measures given earlier policy learnings. For Australia and Singapore, the extension of jobs support scheme will help buy more time for small medium enterprises to recover. Going forward, we believe the relative performance of the Asia REITs would be driven by the resilience of their tenant base and cashflows, in the absence of government support.