John Hancock Investment Management Distributors LLC 200 Berkeley Street Boston, MA 02116

▇▇▇▇ ▇▇▇▇▇▇▇ Investment Management Distributors LLC ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇  

June 27, 2024

To the Trustees of

▇▇▇▇ ▇▇▇▇▇▇▇ Funds

▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇

Boston, MA 02116

Re: Rule 12b-1 Fee Waiver Letter Agreement

With reference to each of the Distribution Plans entered into by and between ▇▇▇▇ ▇▇▇▇▇▇▇ Investment Management Distributors LLC (the “Distributor”) and each of the trusts listed in Appendix A to this letter (each, a “Trust” and collectively, the “Trusts”), on behalf of each of their respective series listed in Appendix A (each, a “Fund” and collectively, the “Funds”), we hereby notify you as follows:

1. The Distributor agrees to contractually waive and limit its Rule 12b-1 distribution fees and/or service fees to the extent necessary to achieve the aggregate Rule 12b-1 distribution and service fees of each Fund as set forth in Appendix B hereto. The expense waiver agreements expire on the dates specified, unless renewed by mutual agreement of the Fund and the Distributor based upon a determination that this is appropriate under the circumstances at that time.

2. We understand and intend that the Trusts will rely on this undertaking in overseeing the preparation and filing of Post-effective Amendments to the Registration Statements on Form N-1A for the Trusts and the Funds with the Securities and Exchange Commission, in accruing each Fund’s expenses for purposes of calculating its net and gross asset value per share, and for other purposes permitted under Form N-1A and/or the Investment Company Act of 1940, as amended, and we expressly permit the Trusts so to rely.

Sincerely,
▇▇▇▇ ▇▇▇▇▇▇▇ INVESTMENT MANAGEMENT DISTRIBUTORS LLC
By:		/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
		▇▇▇▇▇▇▇ ▇. ▇▇▇▇
		Chief Financial Officer

▇▇▇▇ ▇▇▇▇▇▇▇ Investment Management Distributors LLC ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇  

Agreed and Accepted

on behalf of each applicable Trust listed in Appendix A

By:		/s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
		▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
		Chief Financial Officer

A copy of the document establishing each Trust is filed with the Secretary of The Commonwealth of Massachusetts. This Agreement is executed by the officer in his capacity as such and not as an individual and is not binding upon any of the Trustees, officers or shareholders of the Trusts individually but only upon the assets of the Funds.

APPENDIX A

TRUSTS and Funds

▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ TRUST

▇▇▇▇ ▇▇▇▇▇▇▇ ESG Core Bond Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Government Income Fund

▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Investment Grade Bond Fund

▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Duration Bond Fund

▇▇▇▇ ▇▇▇▇▇▇▇ CALIFORNIA TAX-FREE INCOME FUND

▇▇▇▇ ▇▇▇▇▇▇▇ California Municipal Bond Fund

▇▇▇▇ ▇▇▇▇▇▇▇ CAPITAL SERIES

▇▇▇▇ ▇▇▇▇▇▇▇ Classic Value Fund

▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Global Leaders Growth Fund

▇▇▇▇ ▇▇▇▇▇▇▇ CURRENT INTEREST

▇▇▇▇ ▇▇▇▇▇▇▇ Money Market Fund

▇▇▇▇ ▇▇▇▇▇▇▇ INVESTMENT TRUST

▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Disciplined Value International Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Diversified Macro Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Diversified Real Assets Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Emerging Markets Equity Fund

▇▇▇▇ ▇▇▇▇▇▇▇ ESG International Equity Fund

▇▇▇▇ ▇▇▇▇▇▇▇ ESG Large Cap Core Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Fundamental Equity Income Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Fundamental Large Cap Core Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Global Environmental Opportunities Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Global Thematic Opportunities Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Infrastructure Fund

▇▇▇▇ ▇▇▇▇▇▇▇ International Dynamic Growth Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Mid Cap Growth Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Seaport Long/Short Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Small Cap Core Fund

▇▇▇▇ ▇▇▇▇▇▇▇ INVESTMENT TRUST II

▇▇▇▇ ▇▇▇▇▇▇▇ Financial Industries Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Regional Bank Fund

▇▇▇▇ ▇▇▇▇▇▇▇ MUNICIPAL SECURITIES TRUST

▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Municipal Bond Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Opportunities Fund

▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Duration Municipal Opportunities Fund

▇▇▇▇ ▇▇▇▇▇▇▇ SOVEREIGN BOND FUND

▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ Fund

▇▇▇▇ ▇▇▇▇▇▇▇ STRATEGIC SERIES

▇▇▇▇ ▇▇▇▇▇▇▇ Income Fund

A-1

APPENDIX B

Fund

Class A

Class B

Class C

Class R4

Expiration Date of Waiver/Limit

Balanced Fund

N/A

N/A

N/A

0.15

%

2/28/2025

Disciplined Value International Fund

N/A

N/A

N/A

0.15

%

2/28/2025

Emerging Markets Equity Fund

N/A

N/A

N/A

0.15

%

2/28/2025

Fundamental Large Cap Core Fund

N/A

N/A

N/A

0.15

%

2/28/2025

Bond Fund

N/A

N/A

N/A

0.15

%

9/30/2025

1

California Municipal Bond Fund (formerly, California Tax-Free Income Fund)

N/A

N/A

0.90

%

N/A

9/30/2025

2

High Yield Municipal Bond Fund

0.15

%

N/A

0.90

%

N/A

9/30/2025

3

Income Fund

N/A

N/A

N/A

0.15

%

9/30/2025

1

Investment Grade Bond Fund

N/A

N/A

N/A

0.15

%

9/30/2025

1

Municipal Opportunities Fund (formerly, Tax-Free Bond)

0.15

%

N/A

0.90

%

N/A

9/30/2025

3

Money Market Fund

0.00

%

N/A

0.00

%

N/A

7/31/2024

Short Duration Municipal Opportunities Fund

0.15

%

N/A

0.90

%

N/A

9/30/2025

3

¹  At the June 25-27, 2024 meeting of the Board of Trustees of the Trust, the Distributor notified the Board of, and the Board approved, the extension of the limit of the Rule 12b-1 distribution fees and/or services fees for Class R4 Shares (0.15%) of Bond Fund, Income Fund, and Investment Grade Bond Fund, each with an expiration date of September 30, 2025, each effective upon the current expiration date of September 30, 2024.

²  At the June 25-27, 2024 meeting of the Board of Trustees of the Trust, the Distributor notified the Board of, and the Board approved, the extension of the limit of the Rule 12b-1 distribution fees and/or services fees for Class C Shares (0.90%) of California Municipal Bond Fund, with an expiration date of September 30, 2025, effective upon the current expiration date of September 30, 2024.

³  At the June 25-27, 2024 meeting of the Board of Trustees of the Trust, the Distributor notified the Board of, and the Board approved, the extension of the limit of the Rule 12b-1 distribution fees and/or services fees for Class A (0.15%) and Class C Shares (0.90%) of High Yield Municipal Bond Fund, Municipal Opportunities Fund, and Short Duration Municipal Opportunities Fund each with an expiration date of September 30, 2025, each effective upon the current expiration date of September 30, 2024.

B-1