This communication was prepared solely for your information and is not intended as an offer, or a solicitation of an offer, by Manulife Private Wealth to any person to buy or sell any investment or other specific product and is no indication of trading intent. Although all information and opinions expressed in this document were obtained from sources believed to be reliable and in good faith, no representation or warranty, expressed or implied, is made as to its accuracy or completeness. All information and opinions as well as any figures indicated herein are subject to change without notice. Neither Manulife Private Wealth nor any other companies in the Manulife Financial Corporation (“Manulife”) group are acting as an adviser or fiduciary to or for any recipient of this report unless otherwise agreed in writing. Should you have any questions, please contact or ask to speak to a member of Manulife Private Wealth. Manulife Private Wealth is a division of Manulife Investment Management Limited and Manulife Investment Management Distributors Inc. Investment services are offered by Manulife Investment Management Limited and/or Manulife Investment Management Distributors Inc. Banking services and products are offered by Manulife Bank of Canada. Wealth & Estate Services are offered by Manulife Investment Management Limited. Manulife Investment Management Limited, Manulife Investment Management Distributors Inc., Manulife Bank of Canada and The Manufacturers Life Insurance Company are wholly-owned subsidiaries of Manulife Financial Corporation.