John Hancock Funds II (0001331971) (Filer)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number

811-21779

JOHN HANCOCK FUNDS II

(Exact name of registrant as specified in charter)

200 BERKELEY STREET, BOSTON, MA 02116

(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE

TREASURER

200 BERKELEY STREET

BOSTON, MA 02116

(Name and address of agent for service)

Registrant's telephone number, including area code:

(617) 543-9634

Date of fiscal year end:

August 31

Date of reporting period:

August 31, 2026

ITEM 1. REPORTS TO STOCKHOLDERS

The Registrant prepared the following annual reports to shareholders for the year ended August 31, 2026:             

John Hancock Multimanager Lifetime Portfolios

• John Hancock Multimanager 2070 Lifetime Portfolio

• John Hancock Multimanager 2065 Lifetime Portfolio

• John Hancock Multimanager 2060 Lifetime Portfolio

• John Hancock Multimanager 2055 Lifetime Portfolio

• John Hancock Multimanager 2050 Lifetime Portfolio

• John Hancock Multimanager 2045 Lifetime Portfolio

• John Hancock Multimanager 2040 Lifetime Portfolio

• John Hancock Multimanager 2035 Lifetime Portfolio

• John Hancock Multimanager 2030 Lifetime Portfolio

• John Hancock Multimanager 2025 Lifetime Portfolio

• John Hancock Multimanager 2020 Lifetime Portfolio

• John Hancock Multimanager 2015 Lifetime Portfolio

• John Hancock Multimanager 2010 Lifetime Portfolio
                                                                                                                                                                                                                                              

John Hancock Multimanager Lifestyle Portfolios

• John Hancock Multimanager Lifestyle Aggressive Portfolio

• John Hancock Multimanager Lifestyle Growth Portfolio

• John Hancock Multimanager Lifestyle Balanced Portfolio

• John Hancock Multimanager Lifestyle Moderate Portfolio

• John Hancock Multimanager Lifestyle Conservative Portfolio

John Hancock Multimanager 2070 Lifetime Portfolio

Class 1/JHOPX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2070 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-344-1029.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2070 Lifetime Portfolio (Class 1/JHOPX) returned 20.68% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

493A-1

8/26

10/26

John Hancock Multimanager 2070 Lifetime Portfolio

John Hancock Multimanager 2070 Lifetime Portfolio

Class A/JHOQX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2070 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2070 Lifetime Portfolio (Class A/JHOQX) returned 20.24% (excluding sales charges) for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

493A-A

8/26

10/26

John Hancock Multimanager 2070 Lifetime Portfolio

John Hancock Multimanager 2070 Lifetime Portfolio

Class R6/JHBZX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2070 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2070 Lifetime Portfolio (Class R6/JHBZX) returned 20.72% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $1,000,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

493A-R6

8/26

10/26

John Hancock Multimanager 2070 Lifetime Portfolio

John Hancock Multimanager 2065 Lifetime Portfolio

Class 1/JAAVX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2065 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-344-1029.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2065 Lifetime Portfolio (Class 1/JAAVX) returned 20.46% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

477A-1

8/26

10/26

John Hancock Multimanager 2065 Lifetime Portfolio

John Hancock Multimanager 2065 Lifetime Portfolio

Class A/JAAWX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2065 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2065 Lifetime Portfolio (Class A/JAAWX) returned 20.04% (excluding sales charges) for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

477A-A

8/26

10/26

John Hancock Multimanager 2065 Lifetime Portfolio

John Hancock Multimanager 2065 Lifetime Portfolio

Class I/JABSX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2065 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2065 Lifetime Portfolio (Class I/JABSX) returned 20.32% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $250,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

477A-I

8/26

10/26

John Hancock Multimanager 2065 Lifetime Portfolio

John Hancock Multimanager 2065 Lifetime Portfolio

Class R2/JAAZX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2065 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2065 Lifetime Portfolio (Class R2/JAAZX) returned 20.02% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

477A-R2

8/26

10/26

John Hancock Multimanager 2065 Lifetime Portfolio

John Hancock Multimanager 2065 Lifetime Portfolio

Class R4/JABBX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2065 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2065 Lifetime Portfolio (Class R4/JABBX) returned 20.24% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

477A-R4

8/26

10/26

John Hancock Multimanager 2065 Lifetime Portfolio

John Hancock Multimanager 2065 Lifetime Portfolio

Class R5/JABDX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2065 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2065 Lifetime Portfolio (Class R5/JABDX) returned 20.44% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

477A-R5

8/26

10/26

John Hancock Multimanager 2065 Lifetime Portfolio

John Hancock Multimanager 2065 Lifetime Portfolio

Class R6/JABEX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2065 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2065 Lifetime Portfolio (Class R6/JABEX) returned 20.49% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $1,000,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

477A-R6

8/26

10/26

John Hancock Multimanager 2065 Lifetime Portfolio

John Hancock Multimanager 2060 Lifetime Portfolio

Class 1/JRETX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2060 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-344-1029.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2060 Lifetime Portfolio (Class 1/JRETX) returned 20.42% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

463A-1

8/26

10/26

John Hancock Multimanager 2060 Lifetime Portfolio

John Hancock Multimanager 2060 Lifetime Portfolio

Class A/JJERX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2060 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2060 Lifetime Portfolio (Class A/JJERX) returned 19.98% (excluding sales charges) for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

463A-A

8/26

10/26

John Hancock Multimanager 2060 Lifetime Portfolio

John Hancock Multimanager 2060 Lifetime Portfolio

Class I/JMENX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2060 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2060 Lifetime Portfolio (Class I/JMENX) returned 20.42% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $250,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

463A-I

8/26

10/26

John Hancock Multimanager 2060 Lifetime Portfolio

John Hancock Multimanager 2060 Lifetime Portfolio

Class R2/JVIMX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2060 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2060 Lifetime Portfolio (Class R2/JVIMX) returned 19.89% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

463A-R2

8/26

10/26

John Hancock Multimanager 2060 Lifetime Portfolio

John Hancock Multimanager 2060 Lifetime Portfolio

Class R4/JROUX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2060 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2060 Lifetime Portfolio (Class R4/JROUX) returned 20.17% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

463A-R4

8/26

10/26

John Hancock Multimanager 2060 Lifetime Portfolio

John Hancock Multimanager 2060 Lifetime Portfolio

Class R5/JGHTX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2060 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2060 Lifetime Portfolio (Class R5/JGHTX) returned 20.37% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

463A-R5

8/26

10/26

John Hancock Multimanager 2060 Lifetime Portfolio

John Hancock Multimanager 2060 Lifetime Portfolio

Class R6/JESRX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2060 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2060 Lifetime Portfolio (Class R6/JESRX) returned 20.46% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $1,000,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

463A-R6

8/26

10/26

John Hancock Multimanager 2060 Lifetime Portfolio

John Hancock Multimanager 2055 Lifetime Portfolio

Class 1/JLKUX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2055 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-344-1029.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2055 Lifetime Portfolio (Class 1/JLKUX) returned 20.47% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

449A-1

8/26

10/26

John Hancock Multimanager 2055 Lifetime Portfolio

John Hancock Multimanager 2055 Lifetime Portfolio

Class A/JLKLX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2055 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2055 Lifetime Portfolio (Class A/JLKLX) returned 19.99% (excluding sales charges) for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

449A-A

8/26

10/26

John Hancock Multimanager 2055 Lifetime Portfolio

John Hancock Multimanager 2055 Lifetime Portfolio

Class I/JHRTX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2055 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2055 Lifetime Portfolio (Class I/JHRTX) returned 20.40% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $250,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

449A-I

8/26

10/26

John Hancock Multimanager 2055 Lifetime Portfolio

John Hancock Multimanager 2055 Lifetime Portfolio

Class R2/JLKNX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2055 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2055 Lifetime Portfolio (Class R2/JLKNX) returned 19.84% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

449A-R2

8/26

10/26

John Hancock Multimanager 2055 Lifetime Portfolio

John Hancock Multimanager 2055 Lifetime Portfolio

Class R4/JLKQX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2055 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2055 Lifetime Portfolio (Class R4/JLKQX) returned 20.32% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

449A-R4

8/26

10/26

John Hancock Multimanager 2055 Lifetime Portfolio

John Hancock Multimanager 2055 Lifetime Portfolio

Class R5/JLKSX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2055 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2055 Lifetime Portfolio (Class R5/JLKSX) returned 20.35% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

449A-R5

8/26

10/26

John Hancock Multimanager 2055 Lifetime Portfolio

John Hancock Multimanager 2055 Lifetime Portfolio

Class R6/JLKTX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2055 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2055 Lifetime Portfolio (Class R6/JLKTX) returned 20.41% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, a small position in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) was adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $1,000,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

449A-R6

8/26

10/26

John Hancock Multimanager 2055 Lifetime Portfolio

John Hancock Multimanager 2050 Lifetime Portfolio

Class 1/JLKOX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2050 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-344-1029.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2050 Lifetime Portfolio (Class 1/JLKOX) returned 20.46% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

396A-1

8/26

10/26

John Hancock Multimanager 2050 Lifetime Portfolio

John Hancock Multimanager 2050 Lifetime Portfolio

Class A/JLKAX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2050 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2050 Lifetime Portfolio (Class A/JLKAX) returned 19.97% (excluding sales charges) for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

396A-A

8/26

10/26

John Hancock Multimanager 2050 Lifetime Portfolio

John Hancock Multimanager 2050 Lifetime Portfolio

Class I/JHRPX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2050 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2050 Lifetime Portfolio (Class I/JHRPX) returned 20.38% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $250,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

396A-I

8/26

10/26

John Hancock Multimanager 2050 Lifetime Portfolio

John Hancock Multimanager 2050 Lifetime Portfolio

Class R2/JLKEX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2050 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2050 Lifetime Portfolio (Class R2/JLKEX) returned 19.89% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

396A-R2

8/26

10/26

John Hancock Multimanager 2050 Lifetime Portfolio

John Hancock Multimanager 2050 Lifetime Portfolio

Class R4/JLKGX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2050 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2050 Lifetime Portfolio (Class R4/JLKGX) returned 20.13% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

396A-R4

8/26

10/26

John Hancock Multimanager 2050 Lifetime Portfolio

John Hancock Multimanager 2050 Lifetime Portfolio

Class R5/JLKHX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2050 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2050 Lifetime Portfolio (Class R5/JLKHX) returned 20.42% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

396A-R5

8/26

10/26

John Hancock Multimanager 2050 Lifetime Portfolio

John Hancock Multimanager 2050 Lifetime Portfolio

Class R6/JLKRX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2050 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2050 Lifetime Portfolio (Class R6/JLKRX) returned 20.46% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by short-term bonds and emerging market debt.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $1,000,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $1,000,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

396A-R6

8/26

10/26

John Hancock Multimanager 2050 Lifetime Portfolio

John Hancock Multimanager 2045 Lifetime Portfolio

Class 1/JLJOX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2045 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/underlying-funds. You can also request this information by contacting us at 800-344-1029.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2045 Lifetime Portfolio (Class 1/JLJOX) returned 19.43% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by intermediate-term bonds and emerging markets debt. Holdings in high yield bonds and short-term bonds aided returns as well.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/underlying-funds, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

314A-1

8/26

10/26

John Hancock Multimanager 2045 Lifetime Portfolio

John Hancock Multimanager 2045 Lifetime Portfolio

Class A/JLJAX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2045 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2045 Lifetime Portfolio (Class A/JLJAX) returned 18.91% (excluding sales charges) for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by intermediate-term bonds and emerging markets debt. Holdings in high yield bonds and short-term bonds aided returns as well.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $10,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Figures reflect maximum sales charge on Class A shares of 5.00%. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation

Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.

The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .

Availability of Additional Information

At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at 800-225-5291.

This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.

John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116, 800-225-5291, jhinvestments.com

Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

MF5889406

314A-A

8/26

10/26

John Hancock Multimanager 2045 Lifetime Portfolio

John Hancock Multimanager 2045 Lifetime Portfolio

Class I/JHROX

Annual SHAREHOLDER REPORT | August 31, 2026

This annual shareholder report contains important information about the John Hancock Multimanager 2045 Lifetime Portfolio (the fund) for the period of September 1, 2025 to August 31, 2026. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-5291.

What were the fund costs during the last year ?

(Based on a hypothetical $10,000 investment)

Management’s Discussion of Fund Performance

SUMMARY OF RESULTS

Multimanager 2045 Lifetime Portfolio (Class I/JHROX) returned 19.30% for the year ended August 31, 2026. Global equities produced sizable gains in the 12-month period that ended on August 31, 2026. Investors were encouraged by the favorable combination of healthy economic growth trends, robust corporate earnings, and generally supportive central bank policies, together with optimism about artificial intelligence. While technology stocks performed very well, the value style outpaced growth on a global basis and contributed meaningfully to the markets’ strong showing. Emerging market equities also posted outsized returns. Bonds registered more modest gains, led by credit-oriented investments. Income was the primary contributor to total returns for fixed income instruments, as prices came under pressure from concerns about persistent inflation, global conflicts, energy prices, and mounting government debt across the developed world.

TOP PERFORMANCE CONTRIBUTORS

Equity allocation | U.S. equities made a significant contribution to absolute performance, led by large cap equities. International developed market equities further helped results, as did emerging market stocks. Defensive equities also generated positive returns. The real assets portfolio was an additional contributor with strong returns for energy stocks and the metals & mining sector.

Bond funds | The fixed-income allocation contributed positively, led by intermediate-term bonds and emerging markets debt. Holdings in high yield bonds and short-term bonds aided returns as well.

TOP PERFORMANCE DETRACTORS

Specific positions | At a time of positive returns for most segments of the financial markets, the majority of the fund’s holdings recorded a gain. However, small positions in U.S. Treasury STRIPS (Separate Trading of Registered Interest and Principal of Securities) were adversely affected by rising yields.

The views expressed in this report are those of the portfolio management team and are subject to change. They are not meant as investment advice.

Fund Performance

The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $250,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.

GROWTH OF $250,000

Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value 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 performance shown and can be found at jhinvestments.com/investments or by calling 800-225-5291. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.

Fund Statistics

Graphical Representation of Holdings

The table below shows the investment makeup of the fund, representing a percentage of the total net assets of the fund.

Asset Allocation