An anonymous director reports

MANULIFE INVESTMENT MANAGEMENT LIMITED ANNOUNCES UPDATES TO ITS INVESTMENT OFFERINGS

Manulife Financial Corp.'s Manulife Investment Management Ltd. regularly reviews its mutual fund lineup and has provided updates to its investment offerings.

The updates include:

• Risk rating adjustments on certain funds;
• A coming fund termination.

Risk rating adjustments on certain funds

Manulife Investment Management is announcing risk rating changes to its mutual fund platform as part of its annual prospectus renewal process. These changes become effective on or about Aug. 1, 2023, at the close of business.

The risk rating changes are based on an annual review following the risk classification methodology mandated by regulation and are not the result of any changes to the investment objectives, strategies or management of these funds. For additional information regarding the investment risk classification methodology, please refer to the simplified prospectus.

Fund termination

Effective on or about Nov. 24, 2023, Manulife Investment Management will terminate Manulife EAFE Equity Fund and distribute the proceeds accordingly on that date. This change will help streamline its platform of actively managed investments and further its commitment to offering diverse, strong-performing products to help Canadian investors achieve their goals.

Prospectus qualified securities of the terminating fund will no longer be available for new purchases or money in switches effective as of 4 p.m. ET on July 31, 2023. This includes purchases through automatic investment services such as preauthorized chequing plans, dollar-cost averaging or automatic rebalancing services. Impacted investors are encouraged to contact their advisers to discuss the financial and tax implications of this fund change and to discuss options, including how to switch their assets to another Manulife Investment Management mutual fund that meets their individual investment needs and circumstances prior to the termination date.

In addition, it is expected that an affiliate of the subadviser will also participate in the management of the fund as of Sept. 1, 2023, and until its termination because of the relocation of one of the portfolio managers of the fund (subject to any regulatory approval).

About Manulife Investment Management Ltd.

Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial. Manulife Investment Management draws on more than a century of financial stewardship and the full resources of its parent company to serve individuals, institutions and retirement plan members worldwide. Headquartered in Toronto, Manulife Investment Management's extensive capabilities in public and private markets are strengthened by an investment footprint that spans 19 geographies. Manulife Investment Management complements these capabilities by providing access to a network of unaffiliated asset managers from around the world. Manulife Investment Management is committed to investing responsibly across its businesses. Manulife Investment Management develops innovative global frameworks for sustainable investing, collaboratively engages with companies in its securities portfolios, and maintains a high standard of stewardship where it owns and operates assets, and it believes in supporting financial well-being through the company's workplace retirement plans. Today, plan sponsors around the world rely on Manulife Investment Management's retirement plan administration and investment expertise to help their employees plan for, save for and live a better retirement.

About Manulife Financial Corp.

Manulife Financial is a leading international financial services provider, helping people make their decisions easier and lives better. With its global headquarters in Toronto, Canada, Manulife Financial provides financial advice and insurance, operating as Manulife across Canada, Asia and Europe and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for Manulife Financial's global wealth and asset management segment, the company serves individuals, institutions and retirement plan members worldwide. At the end of 2022, Manulife Financial had more than 40,000 employees, over 116,000 agents and thousands of distribution partners, serving over 34 million customers. Manulife Financial trades as MFC on the Toronto Stock Exchange, the New York Stock Exchange and the Philippine Stock Exchange and under 945 in Hong Kong.