Fellow shareholders, Five years ago, in my first letter on behalf of your Board, I highlighted Manulife’s shared values as the common thread uniting our globally diverse Company and the foundation enabling us to achieve the bold ambition we set for transforming and growing our business. Each year since, I have focused in this letter on one of our core values and how it has come to life and guided our work. With my retirement from the Board, I thought it was fitting in this letter to shine a light on the ways our winning global team has owned it not only in 2022, but also over the past several years, driving resilient performance and consistently strong results. Thanks to our team’s spirit of ownership and commitment to delivering on our bold ambition, Manulife today is meaningfully different than it was in 2017. Together, they have delivered on the key commitments made to shareholders, and in 2022 achieved record net income of $7.3 billion as compared to $2.1 billion in 2017. In Asia, we’ve grown from being within the top six pan-Asian insurers, to being the fastest growing of the top three pan-Asian insurers between 2017 and 2021, and our global wealth and asset management business is thriving, having achieved net inflows D on John in 10 of the last 12 quarters. We’ve taken cost out of the business, having met our expense efficiency target two Lindsay Cassaday years ahead of schedule in 2020, and Chair of the Board Chairman Emeritus we’ve bolstered our capital position, achieving a Life Insurance Capital Adequacy Test (LICAT) ratio of 131% for 2022, more than $20 billion above our supervisory target. We have also delivered for customers, as reflected in the significant improvement in our Net Promoter Score (NPS) of 19 points 2 | 2022 Annual Report