John Hancock Investment Management LLC

EXHIBIT (2)(k)(1)(b)

Xxxx Xxxxxxx Investment Management LLC

000 Xxxxxxxx Xxxxxx

Xxxxxx, Xxxxxxxxxxxxx 00000

As of June 24, 2021

To the Trustees of

Xxxx Xxxxxxx Financial Opportunities Fund

000 Xxxxxxxx Xxxxxx

Xxxxxx, Xxxxxxxxxxxxx 00000

Re: Expense Limitation Regarding Administration Agreement

With reference to the Administration Agreement, dated August 15, 1994 (“Administration Agreement”), entered into between Xxxx Xxxxxxx Financial Opportunities Fund (the “Fund”) and Xxxx Xxxxxxx Investment Management LLC (the “Adviser”), as amended, we hereby notify you as follows:

The Adviser agrees to limit its fee applicable to the Administration Agreement to 0.10% annually of the Fund’s average weekly gross assets (the “Expense Limitation”).

“Gross assets” of the Fund means total assets of the Fund, including any form of investment leverage, minus all accrued expenses incurred in the normal course of operations, but not excluding any liabilities or obligations attributable to investment leverage obtained through (i) indebtedness of any type (including, without limitation, borrowing through a credit facility/commercial paper program or other forms of borrowings or the issuance of debt securities), (ii) the issuance of preferred shares or other similar preference securities, and/or (iii) any other means.

The Expense Limitation expires on April 30, 2023 unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at the time.

This Agreement is effective as of June 24, 2021 and supersedes the prior Letter Agreement from the Adviser to the Trustees relating to the same subject matter.

Very truly yours,

XXxx Xxxxxxx INVESTMENT MANAGEMENT LLC

By:

Name: Xxxx Xxxx

Title:  Chief Financial Officer