John Hancock Preferred Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s primary objective is to provide a high level of current income, consistent with preservation of capital. The Fund’s secondary objective is to provide growth of capital to the extent consistent with its primary objective. It invests in a portfolio of securities that may be undervalued relative to similar securities in the marketplace. It invests at least 80% of its assets in preferred stocks and other preferred securities, including convertible preferred securities; 25% of its total assets in the industries comprising the utilities sector, and 80% of its total assets in preferred securities or other fixed-income securities, which are rated investment grade or higher by Moody’s Investors Service or Standard & Poor’s at the time of investment. Its investment advisor is John Hancock Advisers, LLC. Its sub-advisor is MFC Global Investment Management (U.S.), LLC.