JOHN HANCOCK INCOME SECURITIES TRUST Business Summary

John Hancock Income Securities Trust (JHS) operates as a diversified, closed-end management investment company that generates revenue primarily through advisory fees and the collection of interest income from its portfolio of fixed-income securities. The Trust’s business model is centered on a single operating segment focused on achieving high current income through a value-oriented investment strategy. Its primary business segments are categorized by asset class, with heavy concentrations in investment-grade corporate bonds and government-backed securities, including significant positions in residential mortgage-backed securities issued by federal agencies. By utilizing a multi-manager approach under its parent, Manulife Investment Management, JHS leverages both top-down macroeconomic analysis and bottom-up fundamental research to optimize its yield-to-risk profile. Within the competitive landscape of intermediate core-plus bond funds, JHS competes directly with other major closed-end vehicles such as the BlackRock Core Bond Trust (BHK), Western Asset Income Fund (PAI), and the Nuveen Core Plus Impact Fund (NPCT). It distinguishes itself through its long-standing history of financial stewardship and its integration into the broader Manulife global asset management platform. Leadership of the Trust is spearheaded by Kristie M. Feinberg, who serves as President and Chief Executive Officer and is also the Head of Retail for Manulife Investment Management. The executive team includes Fernando A. Silva as Chief Financial Officer and Principal Accounting Officer, Salvatore Schiavone as Treasurer, and Christopher Sechler as Secretary and Chief Legal Officer. The portfolio is managed by a veteran team of investment professionals, including Jeffrey N. Given, Pranay Sonalkar, Spencer Godfrey, and Connor Minnaar, who bring decades of experience in fixed-income markets. The Trust is overseen by a Board of Trustees chaired by Dr. Hassell H. McClellan and includes notable independent members such as William H. Cunningham and Grace K. Fey. As a division of Manulife Financial Corporation, the Trust benefits from the institutional pedigree of a global financial services group with over a century of history, providing a robust framework for its rigorous investment oversight and risk management protocols.