<SEC-DOCUMENT>0001133228-22-000659.txt : 20220328
<SEC-HEADER>0001133228-22-000659.hdr.sgml : 20220328
<ACCEPTANCE-DATETIME>20220218144744
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001133228-22-000659
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220218

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JOHN HANCOCK INVESTORS TRUST
		CENTRAL INDEX KEY:			0000759828
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		200 BERKELEY STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617-663-3000

	MAIL ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		200 BERKELEY STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HANCOCK JOHN INVESTORS TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>John Hancock Investors Trust</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 36pt"><B>John Hancock Tax-Advantaged Global
Shareholder Yield Fund</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>601 Congress Street</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Boston MA 02210</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">February 18, 2022</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">VIA EDGAR</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Mr. Sonny Oh</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Senior Counsel</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Division of Investment Management</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">100 F Street, N.E.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Washington, DC 20549</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>John Hancock Investors Trust</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 36pt">File Nos. 333-251350 &amp; 811-04173</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 36pt"><B>John Hancock Tax-Advantaged Global
Shareholder Yield Fund</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 36pt">File Nos. 333-251351 &amp; 811-22056</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Dear Mr. Oh,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 36pt">We have reviewed the Staff&rsquo;s
comments on the registration statements filed on the post-effective amendment filing (POS8C) to the Form N-2 on December 28, 2021 (each
a &ldquo;Registration Statement&rdquo; and together the &ldquo;Registration Statements&rdquo;) for the John Hancock Investors Trust and
the John Hancock Tax-Advantaged Global Shareholder Yield Fund (each a &ldquo;Fund&rdquo; and together the &ldquo;Funds&rdquo;). Below
is a summary of the comments regarding the Registration Statements provided by the Staff on Thursday, February 10, 2022. We respectfully
submit this response letter on behalf of the Funds.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-indent: 0.5in; text-align: justify">We believe that the disclosure
changes and supplemental responses discussed in this letter are fully responsive to the Staff&rsquo;s comments, and resolve any matters
raised. It is anticipated that the Funds will seek effectiveness of their respective Registration Statements, as amended, as soon as practicable
after the filing of the next post-effective amendment (POS8C). The Funds will, in connection therewith, make the requested representations
and file the necessary acceleration request.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 0.5in; text-align: justify">Unless otherwise stated
herein, defined terms have the same meaning as used by each Fund in its respective Registration Statement.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; text-align: left"><P STYLE="margin-top: 0; margin-bottom: 0">K&amp;L GATES LLP</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">STATE STREET FINANCIAL CENTER&nbsp;&nbsp; ONE LINCOLN STREET&nbsp;&nbsp; BOSTON&nbsp;&nbsp; MA 02111</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">T +1 617 261 3100&nbsp; F +1 617 261 3175&nbsp; klgates.com</P></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>JOHN HANCOCK TAX-ADVANTAGED GLOBAL SHAREHOLDER
YIELD FUND</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>PROSPECTUS</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please confirm that, despite the removal of the relevant sub-adviser and certain
disclosure related to the Fund&rsquo;s Options Strategy, the Fund will continue to seek to implement an investment strategy designed to
minimize the U.S. federal income tax consequences on income and gains generated by the Fund by selling broad-based index call options
that qualify for favorable U.S. federal income tax treatment as &ldquo;section 1256 contracts&rdquo; under the Internal Revenue Code of
1986, on which capital gain and loss generally are treated as 60% long-term and 40% short-term, regardless of holding period.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund has removed
the disclosure in question.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">2.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; The fifth paragraph under &ldquo;Prospectus Summary&mdash;Investment Strategy,&rdquo;
notes that &ldquo;[t]he MSCI World Index tracks the performance of publicly traded large- and mid-cap stocks of developed market companies.&rdquo;
The prospectus language previously indicated the number of developed markets countries that the index tracks. Please consider including
this disclosure.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will revise
the relevant disclosure to read as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-align: justify">&ldquo;The MSCI World Index <STRIKE>tracks
the performance of publicly traded</STRIKE> <B><U>captures</U></B> large<STRIKE>-</STRIKE> and mid<STRIKE>-</STRIKE> cap representation
<B><U>across 23</U></B> <STRIKE>stocks of</STRIKE> developed market <STRIKE>companies</STRIKE><B><U>countries</U></B>.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">3.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;General Risks&mdash;Distribution Risk&rdquo; and &ldquo;General Risks&mdash;Interest
Rate Risk,&rdquo; please delete all references to options if they are part of the Fund&rsquo;s formerly defined Options Strategy, or explain
if they are related to another principal risk.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund has removed
the disclosure in question.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">4.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Summary of Fund Expenses,&rdquo; please complete the disclosure and
include a completed fee table.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will include
a completed fee table in the form as in the attached Appendix A.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">5.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Investment Strategies&mdash;Additional Portfolio Investments&mdash;Put
Options,&rdquo; please confirm that put options are still applicable to the Fund.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund has reviewed
and confirms that the references to &ldquo;put options&rdquo; in this section remain appropriate.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">6.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Investment Strategies&mdash;Other Investment Policies&mdash;ESG Integration,&rdquo;
please include ESG Integration within the Prospectus Summary section of the Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 0pt"><B>Response</B> &mdash;
Supplementally, the Fund notes that it is not an ESG-themed fund. The use of ESG factors in the investment process is one component among
many factors that have been integrated into the research and investing process available to the Fund and its affiliates. Accordingly,
the Fund believes the inclusion of this disclosure is appropriate and consistent with Instruction 2 under the General Instructions for
Parts A and B of Form N-2 which permits the prospectus to include &ldquo;more information than called for by this Form, provided the information
is not incomplete, inaccurate, or misleading and does not, because of its nature, quantity, or manner of presentation, obscure or impede
understanding of required information.&rdquo;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">7.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please confirm that the proxy voting policies exhibit includes ESG disclosure.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 0pt"><B>Response</B> &mdash;
The Fund confirms the proxy voting policies exhibit includes ESG disclosure, such as, for example, the discussion of the role played by
the Manulife IM ESG Research and Integration Team in the proxy voting process.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">8.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please relocate the final sentence under the &ldquo;Investment Strategies&mdash;Other
Investment Policies&mdash;ESG Integration,&rdquo; section to &ldquo;Risk Factors&mdash;General Risks&mdash;ESG Integration Risk.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 0pt"><B>Response</B> &mdash;
The Fund has made the requested change.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">9.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Risk Factors&mdash;General Risks&mdash;ESG Integration Risk,&rdquo;
please identify examples of ESG criteria considered and disclose whether they apply to all investments.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify"><B>Response</B> &mdash; The Fund believes
that &ldquo;ESG Integration Risk&rdquo; as currently disclosed identifies examples of ESG criteria where it states that &ldquo;ESG factors
may include, but are not limited to, matters regarding board diversity, climate change policies, and supply chain and human rights policies.&rdquo;
Accordingly, the Fund respectfully declines to make any changes in response to this comment.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">10.</TD><TD STYLE="text-align: justify"><B>Comment </B>&mdash; Under &ldquo;Incorporation by Reference,&rdquo; please revise the disclosure per
Instruction F of Form N-2 to clarify whether the Fund is relying on General Instruction A.2 of Form N-2.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 0pt"><B>Response </B>&mdash;
The Fund will revise its disclosure under &ldquo;Incorporation by Reference&rdquo; to clarify that it is relying upon General Instruction
A.2 of Form N-2. The Fund notes that it has included all required items under Instruction F pertaining to a registration statement filed
pursuant to General Instruction A.2. The Fund also notes it has selected the box on its registration statement facing page indicating
it has filed its registration statement pursuant to General Instruction A.2.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">11.</TD><TD STYLE="text-align: justify"><B>Comment </B>&mdash; Under the &ldquo;Additional Information&rdquo; section, the disclosure notes that
readers should &ldquo;[s]ee the cover page of this Prospectus for information about how to obtain a paper copy of the Registration or
SAI without charge.&rdquo; Please confirm that the cover page of the Prospectus includes such information.</TD></TR></TABLE>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response </B>&mdash; In response to
this comment, the Fund will revise the disclosure in the penultimate paragraph on the cover page to read as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-align: justify">&ldquo;A <B><U>paper</U></B> copy of the
Registration Statement or SAI may be obtained without charge by calling 800-225-6020 (toll-free) or <B><U>electronically</U></B> from
the SEC&rsquo;s website at sec.gov.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"><B>STATEMENT OF ADDITIONAL INFORMATION</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">12.</TD><TD STYLE="text-align: justify"><B>Comment </B>&mdash; Under &ldquo;Additional Investment Policies and Risks&mdash;Illiquid and Restricted
Securities Risk,&rdquo; please delete the first sentence to correspond with the deletion of the same statement in the Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify"><B>Response </B>&mdash; The Fund will make
the requested change.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">13.</TD><TD STYLE="text-align: justify"><B>Comment </B>&mdash; Under &ldquo;Investment Restrictions&mdash;Fundamental Investment Restrictions,&rdquo;
confirm whether the second paragraph after the fundamental investment restrictions regarding securities lending is correctly stated.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify"><B>Response </B>&mdash; The Fund confirms
that the second paragraph after the fundamental investment restrictions regarding securities lending is correctly stated.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">14.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Other Investment Policies &mdash; Portfolio Turnover,&rdquo; if applicable
and in accordance with Item 17.4, please explain any significant change in the portfolio turnover rate over the past two years.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund notes
that the portfolio turnover rate for the Fund for the fiscal year ended October 31, 2021 was 302%, which did not significantly change
from the prior year. In response to this comment, the Fund will revise the relevant disclosure to read as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 72pt; text-align: justify">The portfolio turnover rate for the Fund
for the fiscal years ended October 31, 2021 and October 31, 2020 was <B><U>302</U></B>% and 301%, respectively.&rdquo;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">15.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Shareholders of the Fund,&rdquo; please add a sentence explaining
what impact a shareholder with greater than 25% ownership of the fund would have on the voting rights of other security holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; In response to
the Staff&rsquo;s comment, the Fund will add the following disclosure:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt">A shareholder who owns beneficially more than 25% of a fund
is deemed to be a control person of that fund <U>and can determine the outcome of a shareholder meeting with respect to a proposal directly
affecting that share class</U>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">16.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Reports to Shareholders,&rdquo; please ensure that proper hyperlinks
are included.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund confirms
that hyperlinks will be included in the final filing.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">17.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please remove the &ldquo;Legal and Regulatory Matters&rdquo; section from the Statement
of Additional Information of the Registration Statement and add it to Part A of the Registration Statement, as required by Item 12 of
Form N-2.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund confirms
it will make the requested change.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>PART C</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">18.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please add hyperlinks to all exhibits, including Exhibit (p), which does not currently
include a hyperlink.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund confirms
that hyperlinks will be included in the final filing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">19.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please add a new Exhibit (s) as required by Form N-2.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will make
the requested change.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">20.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; In Exhibit 2(a), please disclose relevant portions of sections 2.18(a), (b), (d),
and (g) of the Fund&rsquo;s Declaration of Trust, within the Fund&rsquo;s prospectus. Additionally, please disclose that these provisions
do not apply to claims arising under the federal securities laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will add
the below disclosure to the Prospectus within the section titled &ldquo;Certain Provisions in the Declaration of Trust and By-laws.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-align: justify">The Declaration of Trust also places certain
limitations on the ability of a shareholder to sue the Fund or bring a derivative action on behalf of the Fund, except with respect to
claims arising under the U.S. federal securities laws. Such limitations include, but are not limited to: (a) the power of the Trustees,
in the exercise of their good faith business judgment, to dismiss or terminate any such action, suit, proceeding, dispute, claim or demand;
(b) if a shareholder brings a claim in a jurisdiction other than as specified in the Declaration of Trust, the shareholder may be required
to reimburse all expenses incurred by the Fund or any other person in effecting a change of venue; (c) shareholders are required to make
a pre-suit demand upon the Trustees to bring a derivative action, unless the demanding shareholder(s) make a specific showing that irreparable
nonmonetary injury to the Fund that the shareholder(s) could not reasonably have prevented would otherwise result; (d) the Trustees may,
in their sole discretion, submit the question of whether to proceed with a derivative action claim to a vote of shareholders of the Fund;
and (e) any diminution in the value of a shareholder&rsquo;s shares, or any other claim arising out of or relating to an allegation regarding
the actions, inaction, or omissions of or by the Trustees, the Fund&rsquo;s officers, or the Adviser is a legal claim belonging only to
the Fund and not to the shareholders individually.</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-align: justify">The Declaration of Trust also places limitations
on the forum in which claims against or on behalf of the Fund may be heard. Claims against the Fund are required to be brought in the
United States District Court for the District of Massachusetts, or to the extent such court does not have jurisdiction then such actions
and/or claims shall be brought in the Superior Court of Suffolk County for the Commonwealth of Massachusetts.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B><U>JOHN HANCOCK INVESTORS TRUST</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><B>PROSPECTUS</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">21.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Summary of Fund Expenses,&rdquo; please complete the disclosure and
include a completed fee table.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will include
a completed fee table in the form as in the attached Appendix B.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">22.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please reconcile the introductory language in &ldquo;Summary of Fund Expenses&mdash;Example&rdquo;
with the corresponding language in the Tax-Advantaged Global Shareholder Yield Fund&rsquo;s prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will make
the requested changes to the Tax-Advantaged Global Shareholder Yield Fund&rsquo;s prospectus to reconcile the introductory language in
the &ldquo;Summary of Fund Expenses&mdash;Example&rdquo;.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">23.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; In the fourth paragraph under &ldquo;Investment Strategies,&rdquo; regarding the
Advisor&rsquo;s consideration of ESG factors, please briefly identify examples of ESG criteria that are considered and whether the ESG
screening process applies to all investments.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will updated
the noted disclosure as reflected below.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 72pt; text-align: justify">The Advisor may also take into consideration
environmental, social, and/or governance (&ldquo;ESG&rdquo;) factors, alongside other relevant factors, as part of its investment selection
process. <B><U>ESG factors may include, but are not limited to, matters regarding board diversity, climate change policies, and supply
chain and human rights policies.</U></B> The ESG characteristics utilized in the fund&rsquo;s investment process may change over time
and one or more characteristics may not be relevant with respect to all issuers that are eligible fund investments.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">24.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Risk Factors&mdash;General Risks&mdash;ESG Integration Risk,&rdquo;
please identify examples of ESG criteria considered and disclose whether they apply to all investments.</TD></TR></TABLE>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify"><B>Response</B> &mdash; The Fund believes
that &ldquo;ESG Integration Risk&rdquo; as currently disclosed identifies examples of ESG criteria where it states that &ldquo;ESG factors
may include, but are not limited to, matters regarding board diversity, climate change policies, and supply chain and human rights policies.&rdquo;
Accordingly, the Fund respectfully declines to make any changes in response to this comment.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">25.</TD><TD STYLE="text-align: justify"><B>Comment </B>&mdash; Under &ldquo;Incorporation by Reference,&rdquo; please revise the disclosure per
Instruction F of Form N-2 to clarify whether the Fund is relying on General Instruction A.2 of Form N-2.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 36pt; text-align: justify; text-indent: 0pt"><B>Response </B>&mdash;
The Fund will revise its disclosure under &ldquo;Incorporation by Reference&rdquo; to clarify that it is relying upon General Instruction
A.2 of Form N-2. The Fund notes that it has included all required items under Instruction F pertaining to a registration statement filed
pursuant to General Instruction A.2. The Fund also notes it has selected the box on its registration statement facing page indicating
it has filed its registration statement pursuant to General Instruction A.2.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0pt"><B>STATEMENT OF ADDITIONAL
INFORMATION</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">26.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Other Investment Policies &mdash; Portfolio Turnover,&rdquo; if applicable
and in accordance with Item 17.4, please explain any significant change in the portfolio turnover rate over the past two years.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund notes
that the portfolio turnover rate for the Fund for the fiscal year ended October 31, 2021 was 52%, which did not significantly change from
the prior year. In response to this comment, the Fund will revise the relevant disclosure to read as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt 72pt; text-align: justify">The portfolio turnover rate for the Fund
for the fiscal years ended October 31, 2021 and October 31, 2020 was <B><U>52</U></B>% and 62%, respectively.&rdquo;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">27.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Shareholders of the Fund,&rdquo; please add a sentence explaining
what impact a shareholder with greater than 25% ownership of the fund would have on the voting rights of other security holders.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; In response to
the Staff&rsquo;s comment, the Fund has added the following disclosure:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt">A shareholder who owns beneficially more than 25% of a fund
is deemed to be a control person of that fund <U>and can determine the outcome of a shareholder meeting with respect to a proposal directly
affecting that share class</U>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">28.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Under &ldquo;Reports to Shareholders,&rdquo; please ensure that proper hyperlinks
are included.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund confirms
that hyperlinks will be included in the final filing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">29.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please remove the &ldquo;Legal and Regulatory Matters&rdquo; section from the Statement
of Additional Information of the Registration Statement and add it to Part A of the Registration Statement, as required by Item 12 of
Form N-2.</TD></TR></TABLE>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund confirms
it will make the requested change.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>PART C</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">30.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please add hyperlinks to all exhibits.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund confirms
that hyperlinks will be included in the final filing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">31.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; Please add a new Exhibit (s) as required by Form N-2.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will make
the requested change.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">32.</TD><TD STYLE="text-align: justify"><B>Comment</B> &mdash; In Exhibit 2(b), please disclose relevant portions of Section 4.10 of the Fund&rsquo;s
By-laws, within the Fund&rsquo;s prospectus. Additionally, please disclose that these provisions do not apply to claims arising under
the federal securities laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify"><B>Response</B> &mdash; The Fund will add
the below disclosure to the Prospectus within the section titled &ldquo;Certain Provisions in the Declaration of Trust and By-laws.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-align: justify">The By-laws also place certain limitations
on the ability of a shareholder to sue the Fund or bring a derivative action on behalf of the Fund, except with respect to claims arising
under the U.S. federal securities laws. Such limitations include, but are not limited to: (a) the power of the Trustees, in the exercise
of their good faith business judgment, to dismiss or terminate any such action, suit, proceeding, dispute, claim or demand; (b) if a shareholder
brings a claim in a jurisdiction other than as specified in the By-laws, the shareholder may be required to reimburse all expenses incurred
by the Fund or any other person in effecting a change of venue; (c) shareholders are required to make a pre-suit demand upon the Trustees
to bring a derivative action, unless the demanding shareholder(s) make a specific showing that irreparable nonmonetary injury to the Fund
that the shareholder(s) could not reasonably have prevented would otherwise result; (d) the Trustees may, in their sole discretion, submit
the question of whether to proceed with a derivative action claim to a vote of shareholders of the Fund; and (e) any diminution in the
value of a shareholder&rsquo;s shares, or any other claim arising out of or relating to an allegation regarding the actions, inaction,
or omissions of or by the Trustees, the Fund&rsquo;s officers, or the Adviser is a legal claim belonging only to the Fund and not to the
shareholders individually.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-align: justify">The By-laws also place limitations on the
forum in which claims against or on behalf of the Fund may be heard. Claims against the Fund are required to be brought in the United
States District Court for the District of Massachusetts, or to the extent such court does not have jurisdiction then such actions and/or
claims shall be brought in the Superior Court of Suffolk County for the Commonwealth of Massachusetts.</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">* * * * *</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">If you have any questions, please call me at
(617) 951-9068 or Pablo Man at (617) 951-9209.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD>
    <TD STYLE="width: 56%; font: 11pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">/s/ Trayne S. Wheeler</FONT></TD>
    <TD STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">Trayne S. Wheeler</FONT></TD>
    <TD STYLE="font: 11pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt">cc:</TD><TD>Ariel Ayanna, Assistant Secretary of the Funds</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt; text-indent: 0pt">Pablo Man, K&amp;L Gates LLP</P>




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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>APPENDIX A</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 24.45pt; text-indent: -24.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="background-color: rgb(210,247,250)">
    <TD STYLE="vertical-align: top; width: 75%; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">&nbsp;<B>Shareholder Transaction Expenses</B></FONT></TD>
    <TD STYLE="padding-right: 12pt; text-align: right; vertical-align: bottom; width: 25%; padding-left: 7.2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 36pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Sales load (as a percentage of offering price) <SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-right: 12pt; white-space: nowrap; vertical-align: bottom; padding-left: 7.2pt; text-align: right"><FONT STYLE="font-size: 10pt">____%</FONT></TD></TR>
  <TR STYLE="background-color: rgb(210,247,250)">
    <TD STYLE="vertical-align: top; padding-left: 36pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Offering expenses (as a percentage of offering price) <SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-right: 12pt; white-space: nowrap; vertical-align: bottom; padding-left: 7.2pt; text-align: right"><FONT STYLE="font-size: 10pt">____%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 36pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Dividend Reinvestment Plan fees <SUP>2</SUP></FONT></TD>
    <TD STYLE="padding-right: 12pt; white-space: nowrap; vertical-align: bottom; padding-left: 7.2pt; text-align: right"><FONT STYLE="font-size: 10pt">None</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 12pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(210,247,250)">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt"><B>Annual Expenses (Percentage of Net Assets Attributable to Common Shares)</B></FONT></TD>
    <TD STYLE="padding-right: 12pt; text-align: right; vertical-align: bottom; padding-left: 7.2pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 36pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Management fees <SUP>3</SUP></FONT></TD>
    <TD STYLE="padding-right: 12pt; white-space: nowrap; padding-left: 7.2pt; text-align: right"><FONT STYLE="font-size: 10pt">0.90%</FONT></TD></TR>
  <TR STYLE="background-color: rgb(210,247,250)">
    <TD STYLE="vertical-align: top; padding-left: 36pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Other expenses</FONT></TD>
    <TD STYLE="padding-right: 12pt; white-space: nowrap; padding-left: 7.2pt; text-align: right"><FONT STYLE="font-size: 10pt">0.49%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 36pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Total Annual Expenses</FONT></TD>
    <TD STYLE="padding-right: 12pt; white-space: nowrap; padding-left: 7.2pt; text-align: right"><FONT STYLE="font-size: 10pt">1.39%</FONT></TD></TR>
  <TR STYLE="background-color: rgb(210,247,250)">
    <TD STYLE="vertical-align: top; padding-left: 36pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Contractual expense reimbursement <SUP>4</SUP></FONT></TD>
    <TD STYLE="padding-right: 12pt; white-space: nowrap; padding-left: 7.2pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.01)%</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 36pt; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Total annual fund operating expenses after expense reimbursements</FONT></TD>
    <TD STYLE="padding-right: 12pt; white-space: nowrap; padding-left: 7.2pt; text-align: right"><FONT STYLE="font-size: 10pt">1.38%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 24.45pt; text-indent: -24.5pt">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">1</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">If Common Shares are sold to or through underwriters, the Prospectus Supplement will set forth any applicable sales load and the estimated offering expenses.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">2</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Participants in the Fund&rsquo;s dividend reinvestment plan do not pay brokerage charges with respect to Common Shares issued directly by the Fund. However, whenever Common Shares are purchased or sold on the NYSE or otherwise on the open market, each participant will pay a pro rata portion of brokerage trading fees, currently $0.05 per share purchased or sold. Brokerage trading fees will be deducted from amounts to be invested. Shareholders participating in the Plan may buy additional Common Shares of the Fund through the Plan at any time and will be charged a $5 transaction fee plus $0.05 per share brokerage trading fee for each order. See &ldquo;Distribution Policy&rdquo; and &ldquo;Dividend Reinvestment Plan&rdquo; in the accompanying Prospectus.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">3</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&ldquo;Management fee&rdquo; has been restated to reflect the contractual management fee schedule effective August 6, 2021. See &ldquo;Management of the Fund&mdash;The Advisor.&rdquo;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">4</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The Advisor contractually agrees to waive a portion of its management fee and/or reimburse expenses for the Fund and certain other John Hancock funds according to an asset level breakpoint schedule that is based on the aggregate net assets of all the funds participating in the waiver or reimbursement. This waiver is allocated proportionally among the participating funds. During its most recent fiscal year, the Fund&rsquo;s reimbursement amounted to 0.01% of the Fund&rsquo;s average daily net assets. This agreement expires on July 31, 2023, unless renewed by mutual agreement of the Fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.</FONT></TD></TR>
  </TABLE>



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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">APPENDIX B</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(210,247,250)">
    <TD STYLE="width: 87%; padding-right: 5.05pt; padding-left: 5.05pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt"><B>Shareholder Transaction Expenses</B></FONT></TD>
    <TD STYLE="text-align: right; width: 13%; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">&#9;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.65pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Sales load (as a percentage of offering price) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt"><U>_____</U>%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(210,247,250)">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.65pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Offering expenses (as a percentage of offering price) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt"><U>_____</U>%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.65pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Dividend Reinvestment Plan fees <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">&#9;None</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(210,247,250)">
    <TD STYLE="padding-right: 5.05pt; padding-left: 5.05pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt"><B>Annual Expenses (Percentage of Net Assets Attributable to Common Shares)</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">&#9;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.65pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Management fees <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">0.82%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(210,247,250)">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.65pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Interest payments on borrowed funds<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">0.38%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.65pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Other expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">0.26%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(210,247,250)">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.1pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Total Annual Operating Expenses</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">1.46%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.1pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Contractual Expense Reimbursement <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">(0.01)%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(210,247,250)">
    <TD STYLE="padding-right: 5.05pt; padding-left: 15.1pt; text-indent: -5.05pt"><FONT STYLE="font-size: 10pt">Total Annual Fund Operating Expenses After Expense Reimbursements&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 12pt; padding-left: 2.35pt"><FONT STYLE="font-size: 10pt">1.45%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>



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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.95pt">(1)</TD><TD STYLE="text-align: justify">If Common Shares are sold to or through underwriters, the Prospectus Supplement will set forth any applicable
sales load and the estimated offering expenses.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.95pt">(2)</TD><TD STYLE="text-align: justify">Participants in the Fund&rsquo;s dividend reinvestment plan do not pay brokerage charges with respect
to Common Shares issued directly by the Fund. However, whenever Common Shares are purchased or sold on the NYSE or otherwise on the open
market, each participant will pay a <I>pro rata </I>portion of brokerage trading fees, currently $0.05 per share purchased or sold. Brokerage
trading fees will be deducted from amounts to be invested. Shareholders participating in the Plan may buy additional Common Shares of
the Fund through the Plan at any time and will be charged a $5 transaction fee plus $0.05 per share brokerage trading fee for each order.
See &ldquo;Distribution Policy&rdquo; and &ldquo;Dividend Reinvestment Plan.&rdquo;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.95pt">(3)</TD><TD STYLE="text-align: justify">See &ldquo;Management of the Fund&mdash;The Advisor.&rdquo;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 15.95pt">(4)</TD><TD STYLE="text-align: justify">The Fund uses leverage by borrowing under a liquidity agreement. &ldquo;Interest payments on borrowed
funds&rdquo; includes all interest paid in connection with outstanding loans. See &ldquo;Other Investment Policies - Borrowing&rdquo;
and &ldquo;Use of Leverage by the Fund.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 15.95pt; text-align: justify; text-indent: -15.95pt">(5) The Advisor
contractually agrees to waive a portion of its management fee and/or reimburse expenses for the Fund and certain other John Hancock funds
according to an asset level breakpoint schedule that is based on the aggregate net assets of all the funds participating in the waiver
or reimbursement. This waiver is allocated proportionally among the participating funds. During its most recent fiscal year, the fund&rsquo;s
reimbursement amounted to 0.01% of the fund&rsquo;s average daily net assets. This agreement expires on July 31, 2023, unless renewed
by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.</P>



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