Strategic Highlights Asia continues to be a core driver of growth for Manulife, supported by a clear strategy, a focus on execution, a strong team, and a diversified footprint in 11 markets. Our growth is underpinned by powerful economic secular trends including middle-class emergence, low 1 driving continued demand for insurance penetration and an estimated mortality protection gap of more than US$100 trillion by 2030 financial solutions. We continued to invest in our diversified distribution platform to accelerate growth. In 2022 we: • Commenced offering insurance solutions to VietinBank’s customers in early 2022, as part of our 16-year exclusive bancassurance partnership in Vietnam, demonstrating strong momentum in its first year; and • Accelerated the utilization of ManuAcademy, our regional digital learning platform, which was initially launched in Vietnam during 2Q22 and continued to expand to the Philippines in 4Q22. The platform is accessible now to all agents in these two markets, making learning easier while accelerating the further expansion and digitization of Manulife’s agency force. Our new training series, Manulife MasterClass, captures best practices from our Million Dollar Round Table agents and shares them across all agents through the platform. In 2022, we continued to increase NPS, as we further enhanced digital capabilities and invested in high impact digital initiatives spanning the full customer and distributor experience from Search, Buy, Manage & Review to Claim. • Search: Delivered multi-channel options for customers through the launch of Manulife Shop in the Philippines in 4Q22, enabling customers to find and purchase insurance online at their own convenience. We also became the first life insurer in Vietnam to offer health solutions to MoMo’s 31 million user base via MoMo e-wallet in 2Q22; 2 to 89%, enabling • Buy: Successfully increased the adoption of ePOS, our proprietary digital onboarding app, by 15 percentage points faster, error-free new business application submissions; • Manage & Review: Enhanced self-servicing capabilities on our proprietary health and wellness platform, ManulifeMOVE, with initial rollout in Vietnam, accelerating MOVE as the one-stop digital gateway for health and life servicing; and • Claim: Further increased utilization of our digital claims platform, with 76% of claims being submitted digitally, an increase of 12 percentage points compared with 2021 driven by strong improvements in Japan and continued high customer adoption across Asia. We continued to maintain a winning culture and make Manulife a great place to work. Manulife has been recognized by HR Asia as one of the “Best Companies to Work for in Asia 2022” in five of our Asian markets — mainland China, Hong Kong, Malaysia, Singapore and Vietnam. 1 Closing Asia’s mortality protection gap, Swiss Re, July 2020. 2 Case adoption, compared with 2021. 25