In the United States, insurance laws in Michigan, New York, and Massachusetts, the jurisdictions in which certain of MFC’s U.S. insurance company subsidiaries are domiciled, impose general limitations on the payment of dividends and other upstream distributions or loans by these insurance subsidiaries. These limitations are described in note 13. In Asia, the insurance laws of the jurisdictions in which MFC operates either provide for specific restrictions on the payment of dividends or other distributions or loans by subsidiaries or impose solvency or other financial tests, which could affect the ability of subsidiaries to pay dividends in certain circumstances. There can be no assurance that any current or future regulatory restrictions in Canada, the United States or Asia will not impair MFC’s ability to meet its cash requirements, including, but not limited to, paying any amounts due under its guarantees. The following condensed consolidated financial information, presented in accordance with IFRS, reflects the effects of the mergers and is provided in compliance with Regulation S-X and in accordance with Rule 12h-5 of the Commission. Condensed Consolidated Statement of Financial Position MFC JHUSA Other Consolidation Consolidated As at December 31, 2022 (Guarantor) (Issuer) subsidiaries adjustments MFC Assets Invested assets $ 63 $ 116,463 $ 297,996 $ (521) $ 414,001 Investments in unconsolidated subsidiaries 67,209 8,819 22,053 (98,081) – Reinsurance assets – 61,511 12,137 (25,936) 47,712 Other assets 334 9,456 48,135 (19,259) 38,666 Segregated funds net assets – 173,417 177,361 (2,216) 348,562 Total assets $ 67,606 $ 369,666 $ 557,682 $ (146,013) $ 848,941 Liabilities and equity Insurance contract liabilities $ – $ 156,205 $ 241,830 $ (26,630) $ 371,405 Investment contract liabilities – 1,418 1,830 – 3,248 Other liabilities 451 20,159 55,304 (18,923) 56,991 Long-term debt 6,234 – – – 6,234 Capital instruments 4,860 614 648 – 6,122 Segregated funds net liabilities – 173,417 177,361 (2,216) 348,562 Shareholders’ and other equity holders’ equity 56,061 17,853 80,391 (98,244) 56,061 Participating policyholders’ equity – – (1,346) – (1,346) Non-controlling interests – – 1,664 – 1,664 Total liabilities and equity $ 67,606 $ 369,666 $ 557,682 $ (146,013) $ 848,941 Condensed Consolidated Statement of Financial Position MFC JHUSA Other Consolidation Consolidated As at December 31, 2021 (Guarantor) (Issuer) subsidiaries adjustments MFC Assets Invested assets $ 78 $ 116,705 $ 310,679 $ (364) $ 427,098 Investments in unconsolidated subsidiaries 68,655 9,107 20,788 (98,550) – Reinsurance assets – 63,838 11,309 (30,568) 44,579 Other assets 211 18,085 49,956 (22,074) 46,178 Segregated funds net assets – 204,493 197,220 (1,925) 399,788 Total assets $ 68,944 $ 412,228 $ 589,952 $ (153,481) $ 917,643 Liabilities and equity Insurance contract liabilities $ – $ 166,535 $ 257,044 $ (31,304) $ 392,275 Investment contract liabilities – 1,227 1,890 – 3,117 Other liabilities 899 21,806 50,836 (21,809) 51,732 Long-term debt 4,882 – – – 4,882 Capital instruments 4,755 579 1,646 – 6,980 Segregated funds net liabilities – 204,493 197,220 (1,925) 399,788 Shareholders’ and other equity holders’ equity 58,408 17,588 80,855 (98,443) 58,408 Participating policyholders’ equity – – (1,233) – (1,233) Non-controlling interests – – 1,694 – 1,694 Total liabilities and equity $ 68,944 $ 412,228 $ 589,952 $ (153,481) $ 917,643 217