Ms. Jodie Wallis reports

MANULIFE EXPANDS PARTNERSHIP WITH MICROSOFT TO ACCELERATE ENTERPRISE AI GOVERNANCE AND INNOVATION

Manulife Financial Corp. and Microsoft have renewed and expanded their long-standing relationship, supporting Manulife's strategic priority to become an artificial-intelligence-powered organization. As part of this partnership, Manulife has adopted Microsoft 365 E7 Frontier Suite capabilities to enable innovation at scale with secure cloud and AI solutions. This includes expanding adoption of Microsoft 365 Copilot to over 30,000 employees and deploying Microsoft Agent 365 -- a next-generation suite that provides a control plane for governing, monitoring and securing AI agents at enterprise scale. The five-year agreement supports Manulife's continued transformation and responsible scaling of AI-enabled capabilities across its global operations.

• Five-year agreement advances Manulife's strategic priority to become an AI-powered organization;
• Manulife will adopt Microsoft's Frontier Suite and deploy Microsoft Agent 365 to drive AI solutions at enterprise scale;
• Manulife will expand deployment of Microsoft 365 Copilot to more than 30,000 employees.

"Our partnership with Microsoft is a critical enabler of Manulife's continued evolution into a truly AI-driven organization," said Shamus Weiland, chief technology and operations officer, Manulife. "Adopting the Microsoft Frontier Suite represents the next phase of that transformation, giving us the trusted foundation to advance AI across our global operations with confidence. It also provides the scale, security, stability and intelligence we need to accelerate innovation and embed AI responsibly across the franchise."

A secure, governed foundation for enterprise AI

Microsoft is a foundational partner in Manulife's global enterprise AI platform, currently in pilot, which will help to enable Manulife's data scientists, and developers to build, deploy, and manage advanced AI and agentic solutions at scale, while adhering to shared standards for quality, security and cost-efficiency. Microsoft Azure and Microsoft Foundry provide critical components and capabilities ranging from citizen development tools to advanced model fine-tuning and monitoring, enabling teams to innovate autonomously within a strong governance framework.

Manulife will also deploy Microsoft Agent 365, to serve as a registry for AI agents across the enterprise, providing a single interface to observe, govern, and manage how AI agents operate. This capability will strengthen Manulife's enterprise-wide approach to AI governance, observability and risk management. Manulife has AI-powered agent solutions in production across the organization, with more in the pipeline.

"As AI becomes more deeply embedded across our business, responsible innovation has to be built into how we operate -- not treated as a separate layer of oversight," said Jodie Wallis, global chief AI officer, Manulife. "For Manulife, that means giving our teams the clarity, controls and confidence to use AI in ways that are secure, transparent and aligned to our responsible AI principles. By strengthening how we govern and monitor AI across the enterprise, we can move with greater speed and discipline while continuing to earn the trust of our customers, colleagues and communities."

Examples of AI solutions already enabled by Microsoft technology across the business include:

• Revenue growth: The sales enablement tool, launched in Singapore and now scaled across multiple markets, delivers personalized advisor insights using Foundry models, driving more targeted engagement and improved sales outcomes.
• Underwriting support: Quick Quote, a GenAI-based underwriting support tool launched by John Hancock in the United States, which helps streamline the preliminary assessment process for purchasing life insurance.
• Customer experience: Generative AI solutions support over 110 million calls annually across North America and are expanding into Asia, enhancing speed, accuracy and service quality through Azure-based knowledge tools that provide instant, source-backed answers with confidence scores.

Additionally, Manulife has agentic solutions and AI-powered workflows live in production across the organization, with more in the pipeline. Agents can help employees quickly access information, support software development and technology design, and enhance IT operations by streamlining workflows, identifying risks and improving productivity across the organization.

Accelerating innovation across the enterprise

Manulife developers across the organization continue to adopt assisted and autonomous AI capabilities and have increased their productivity by 30 per cent while enabling reinvestment to support business growth and develop new capabilities to serve the company's customers. GitHub Copilot has helped lay a strong foundation for the next phase of Manulife's AI strategy, by advancing Manulife's autonomous development capabilities, supporting faster design, build and release processes. This includes business-facing solutions such as Manulife's mortgage renewal application, which was successfully rebuilt in a matter of weeks.

Beyond engineering teams, Manulife is embedding AI across the organization, equipping employees with tools aimed at streamlining everyday work, unlocking productivity gains and delivering greater value to customers. Manulife expects to generate more than $1-billion of enterprise value by 2027, with $300-million achieved as of year-end 2025, improving productivity and efficiency and delivering real impact for customers, colleagues and shareholders.

"Our long-standing partnership with Manulife has always been grounded in trust, innovation and a shared commitment to responsible transformation," said Matt Milton, president, Microsoft Canada. "We are proud to be Manulife's trusted partner in the agentic era, helping empower employees with Microsoft 365 Copilot and scale AI responsibly with the governance and security of Microsoft Agent 365. We look forward to continuing our work together as Manulife turns AI into practical value and better outcomes for customers around the world."

The partnership expansion reinforces Manulife's position as an industry leader in AI innovation and underscores its commitment to becoming an AI-driven organization. For two consecutive years, Manulife was recognized as the No. 1 life insurance company in North America and Europe for AI maturity in the Evident AI Insurance Index. Continued collaboration with Microsoft helps to ensure Manulife can sustain this leadership by leveraging the latest advancements in cloud, AI technologies and enterprise AI governance capabilities.

About Manulife Financial Corp.

Manulife Financial is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in the company's ambition to be the No. 1 choice for customers, the company operates as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, the company offers global investment solutions, financial advice and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, the company had more than 37,000 employees, over 106,000 agents and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. The company trades as MFC on the Toronto, New York and Philippine stock exchanges, and under 945 on the Hong Kong stock exchange.

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