H a n c o c k · timberland is that timber can be grown and then ‘stored on the stump.’ HAIG develops diversified farmland portfolios for institutional investors including public

H a n c o c k n a t u r a l r e s o u r c e G r o u p , I n c .

As of September 30, 2019,

assets under management

are USD 13.8 billion.

s t e wa r d s H I p I n a c t I o n – s t o r I e s f r o m t H e f I e l d

Hancock Natural Resource Group (HNRG) is committed to sustainability and responsible Investing, including the ongoing reduction of environmental impact and improvement of stewardship performance. HNRG takes into account social, environmental, economic, and ethical impacts of our actions by demonstrating a sense of responsibility toward the communities and environments in which we operate.

n Protecting and Monitoring the Endangered Kiwi in New Zealand. Kiwi are endangered primarily due to predators. Hancock Forest Management New Zealand leads six kiwi recovery projects focusing on year-round predator control. Recent kiwi monitoring indicates the population has increased by 50 percent due to increased chick survival. It is hoped that predator control and other measures will halt the decline of kiwi.

n Sustainably Managing Pests on Macadamia Orchards in Australia. Hancock Farm Company implemented an Integrated Pest Management program to use less chemicals managing farm pests. IPM began with MacTrix, a wasp that preys on eggs of the Macadamia nutborer. The nutborer is an insect that causes significant damage to macadamia nut crops. Biological controls are one of the most effective tactics in crop protection and will play a greater role in the future.

n Using Solar Power to Provide Energy on Farms in California. HNRG has introduced solar energy on a number of nut crop properties in California. One client property houses a 25 acre, 3.8 megawatt solar project. Solar cells harness the sun’s rays for electricity generation which powers well pumps used to irrigate crops. The use of solar power has reduced the farms’ energy costs by 80 percent, and in 2018, the carbon offset was over 5.2 million pounds of CO2. Construction is now complete on three additional solar arrays in California.

Hancock Natural Resource Group, Inc., (HNRG) is a registered investment adviser and wholly owned subsidiary of Manulife Financial Corporation. HNRG is comprised of two core businesses; Hancock Timber Resource Group (HTRG), which develops and manages timberland investments, and Hancock Agricultural Investment Group (HAIG), which develops and manages farmland investments. While the two groups are established as separate businesses, they are fully integrated and share corporate resources.

We offer timberland and farmland portfolios through several investment structures to institutional investors, including public and private pension funds, foundations and endowments, high net-worth individuals, and Taft-Hartley plans. As of September 30, 2019, assets under management are USD 13.8 billion. These assets are located in Australia, Canada, Chile, New Zealand, and the United States. As of January 1, 2016, both HTRG and HAIG claim compliance with the Global Investment Performance Standards (GIPS®)*.

* Hancock Timber Resource Group claims compliance with the Global Investment Performance Standards (GIPS®). To receive a list of composite descriptions of HTRG and/or a presentation that complies with the GIPS standards, please request via email: [email protected]. Hancock Agricultural Investment Group claims compliance with the Global Investment Performance Standards (GIPS®). To receive a list of composite descriptions of HAIG and/or a presentation that complies with the GIPS standards, please request via email: [email protected].

H N R G C O M P A N y O v E R v i E w Q 3 2 0 1 9

H a n c o c k a G r I c u l t u r a l I n v e s t m e n t G r o u p

A unique characteristic of

timberland is that timber can

be grown and then ‘stored

on the stump.’

HAIG develops diversified

farmland portfolios for

institutional investors

including public and

private plans and

insurance companies.

Hancock Agricultural Investment Group (HAIG) is a vertically integrated farmland investment manager. We are one of the largest institutional managers of agricultural real estate in the US serving both domestic and non-US clients. HAIG develops diversified farmland portfolios for institutional investors including public and private plans and insurance companies. As of September 30, 2019, we manage USD 3.3 billion of agricultural real estate, comprised of over 400,000 acres of US farmland in major agricultural regions including: California, the Midwest, the Mississippi Delta, the Pacific Northwest, the Southern Plains and the Southeast. Outside the US, HAIG manages properties in

Australia, including: New South Wales, Queensland, South Australia and Victoria, as well as in Quebec and Alberta, Canada. We manage our clients’ farmland assets predominantly with our in-house team of farm operators, investment and financial professionals. HAIG actively seeks and acquires many different sized tracts of farmland consisting of a variety of crop-types. We target both the permanent (trees and vines) and row crop sectors and implement several managerial styles. Agricultural investments can provide institutional investors with a number of benefits including attractive returns, excellent capital preservation, portfolio diversification and low to moderate risk.

H a n c o c k t I m b e r r e s o u r c e G r o u p

Hancock Timber Resource Group (HTRG), the world’s largest global timberland investment manager,† develops and manages globally diversified timberland portfolios for institutional investors. As of September 30, 2019, we

manage USD 10.6 billion located across 5.6 million acres in Australia, Canada, Chile, New Zealand and the United States. We manage our clients’ timberland assets utilizing approximately 900 forestry, investment, and financial professionals. We serve US and non-US clients, including public and corporate pension plans, high net-worth individuals, sovereign governments, and foundations and endowments. We offer several investment vehicles, including individually managed accounts and commingled funds.

HTRG actively seeks and acquires large tracts of timberland in the major timbergrowing regions of the world. Timberland investments can provide institutional investors with a number of benefits, including a history of attractive

returns, excellent capital preservation, low correlation with other asset classes and low to moderate risk. A unique characteristic of timberland is that timber can be grown and then “stored on the stump.” This gives investors the flexibility to harvest trees when timber prices are up and delay harvesting when prices are down. Timber is a renewable resource that increases in value as trees mature. Income is realized from timber sales, leases, minerals, biomass energy and land sales.

H N R G C O M P A N y O v E R v i E w Q 3 2 0 1 9

† Source: Fastmarkets RISI, December 2018

Hancock Timber Resource Group and Hancock Agricultural Investment Group are divisions of Hancock Natural Resource Group, Inc. , a registered investment adviser and wholly owned subsidiary of Manulife Financial Corporation.

Past performance is not indicative of future results.

No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment.

12/19505735

197 Clarendon St. C-08-99 Boston, MA 02116-5010

www.hnrg.com