Segment core earnings by business line or geographic source ($ millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated) Asia QuarterlyResults Full YearResults (US $ millions) 4Q22 3Q22 2Q22 1Q22 4Q21 2022 2021 Hong Kong $ 224 $ 217 $ 216 $ 219 $ 270 $ 876 $ 949 Japan 84 89 84 77 77 334 323 (1) Asia Other 145 115 132 156 132 548 619 MainlandChina 16 96 Singapore 161 162 Vietnam 309 290 (2) OtherEmergingMarkets 62 71 Regional Office (35) (27) (31) (28) (44) (121) (155) TotalAsiacoreearnings $ 418 $ 394 $ 401 $ 424 $ 435 $ 1,637 $ 1,736 (1) Core earnings for Asia Other is reported by country annually, on a full year basis. (2) Other Emerging Markets includes Indonesia, the Philippines, Malaysia, Thailand, Cambodia and Myanmar. QuarterlyResults Full YearResults (1) (US $ millions), CER basis 4Q22 3Q22 2Q22 1Q22 4Q21 2022 2021 Hong Kong $ 224 $ 217 $ 216 $ 219 $ 270 $ 876 $ 949 Japan 84 87 78 63 62 312 251 (2) Asia Other 145 112 127 147 124 531 581 MainlandChina 14 87 Singapore 160 158 Vietnam 298 274 (3) OtherEmergingMarkets 59 62 Regional Office (35) (28) (31) (28) (44) (122) (155) TotalAsiacoreearnings,CERbasis $ 418 $ 388 $ 390 $ 401 $ 412 $ 1,597 $ 1,626 (1) Core earnings adjusted to reflect the foreign exchange rates for the Statement of Income in effect for 4Q22. (2) Core earnings for Asia Other is reported by country annually, on a full year basis. (3) Other Emerging Markets includes Indonesia, the Philippines, Malaysia, Thailand, Cambodia and Myanmar. Canada QuarterlyResults Full YearResults (Canadian $ millions) 4Q22 3Q22 2Q22 1Q22 4Q21 2022 2021 Insurance $ 240 $ 240 $ 233 $ 206 $ 184 $ 919 $ 770 Annuities 59 56 68 70 62 253 234 Manulife Bank 51 54 44 38 40 187 175 TotalCanadacoreearnings $ 350 $ 350 $ 345 $ 314 $ 286 $ 1,359 $ 1,179 U.S. QuarterlyResults Full YearResults (US $ millions) 4Q22 3Q22 2Q22 1Q22 4Q21 2022 2021 U.S. Insurance $ 235 $ 244 $ 316 $ 328 $ 274 $ 1,123 $ 1,128 U.S. Annuities 41 50 41 56 96 188 416 TotalU.S.coreearnings $ 276 $ 294 $ 357 $ 384 $ 370 $ 1,311 $ 1,544 112 | 2022AnnualReport | Management’sDiscussionandAnalysis