Ms. Brooke Tucker-Reid reports

MANULIFE DECLARES COMMON SHARE DIVIDEND

Manulife Financial Corp.'s board of directors has declared a quarterly shareholder dividend of 28 cents per share on the common shares of Manulife Financial, payable on and after March 19, 2021, to shareholders of record at the close of business on Feb. 23, 2021.

In respect of the company's Canadian dividend reinvestment and share purchase plan and its United States dividend reinvestment and share purchase plan, the company will purchase common shares on the open market in connection with the reinvestment of dividends and optional cash purchases under these plans. The purchase price of these common shares will be based on the average of the actual cost to purchase them and there are no applicable discounts.

About Manulife Financial Corp.

Manulife Financial is a leading international financial service group that helps people make their decisions easier and lives better. With its global headquarters in Toronto, Canada, Manulife Financial operates as Manulife across its offices in Canada, Asia and Europe, and primarily as John Hancock in the United States. Manulife Financial provides financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2020, the company had more than 37,000 employees, over 118,000 agents and thousands of distribution partners, serving over 30 million customers. As of Dec. 31, 2020, it had $1.3-trillion ($1.0-trillion (U.S.)) in assets under management and administration, and in the previous 12 months Manulife made $31.6-billion in payments to the company's customers. Its principal operations are in Asia, Canada and the United States where it has served customers for more than 155 years. It trades as MFC on the Toronto, New York and the Philippine stock exchanges, and under 945 in Hong Kong.