Mr. Don Lindsay reports

MANULIFE ANNOUNCES ADDITIONS TO ITS BOARD OF DIRECTORS

Mike Durland and Don Kanak have been appointed to Manulife Financial Corp.'s board of directors, effective March 5, 2024, and Anna Manning and John Wong have been nominated for election as directors at the company's May 9, 2024, annual meeting of shareholders.

Mr. Durland is a former senior executive at the Bank of Nova Scotia, holding a number of senior roles in the bank's capital markets division, including group head and chief executive officer, global banking and markets. He is currently the chief executive officer of Melancthon Capital Corp., a private company primarily focused on the provision of capital and advisory services to emerging Canadian companies. He holds a bachelor of commerce from Saint Mary's University and a PhD in management from Queen's University.

Mr. Kanak is a former senior executive with deep insurance experience in Asia. Most recently, he held several senior roles with Prudential Holdings Ltd. (part of Prudential PLC). He ultimately served as chairman, insurance growth markets, and chairman, Prudence Foundation, and, prior to that, chairman, Eastspring Investments, and chairman of Prudential Corp. Asia. He served in senior executive positions at American International Group (AIG) for over 14 years before joining Prudential. He holds a bachelor of arts from the University of North Carolina, a JD from Harvard Law School and a MLitt from Oxford University in management studies.

Ms. Manning is the former president and chief executive officer of Reinsurance Group of America Inc. (RGA), a global reinsurance company focusing on life and health solutions. Prior to joining RGA, she spent 19 years with the Toronto office of Towers Perrin's Tillinghast insurance consulting service, providing consulting services to the insurance industry on mergers and acquisitions, value-added performance measurement, product development, and financial reporting. She is a fellow of the Society of Actuaries and the Canadian Institute of Actuaries and holds a BSc in actuarial science from the University of Toronto.

Mr. Wong is a former senior partner and the former chairman of Greater China for Boston Consulting Group, where he currently serves as a senior adviser. He is a trusted consultant with over 30 years of experience serving global clients in the Asian health care market and a deep expertise in building businesses in biopharmaceuticals, medical technology and consumer health. Mr. Wong holds an MBA from Harvard University, an MSc in chemical engineering from the Massachusetts Institute of Technology and BSc in chemical engineering from Imperial College London.

"Mike, Don, Anna and John bring skills and experience critical to supporting the board of directors' effective oversight of Manulife given its growth ambitions and strategic priorities," said Don Lindsay, chair of the board, Manulife. "They are accomplished executives who bring a wealth of experience, including in the financial services and insurance industries, as well as extensive global and Asia market knowledge. We are fortunate to have them join the board."

Mr. Durland joins the board's audit committee and corporate governance and nominating committee and Mr. Kanak joins the management resources and compensation committee and risk committee. Ms. Manning will join the management resources and compensation committee and the risk committee and Mr. Wong will join the audit committee and corporate governance and nominating committee following successful election at the annual meeting of shareholders.

About Manulife Financial Corp.

Manulife Financial is a leading international financial service provider, helping people make their decisions easier and lives better. With its global headquarters in Toronto, Canada, it provides financial advice and insurance, operating as Manulife Financial across Canada, Asia and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for its global wealth and asset management segment, it serves individuals, institutions and retirement plan members worldwide. At the end of 2023, it had more than 38,000 employees, over 98,000 agents and thousands of distribution partners, serving over 35 million customers. It trades as MFC on the Toronto, New York and the Philippine stock exchanges and under 945 in Hong Kong.