2022 ESG Report Introduction ESG at Manulife Environmental Climate Action Plan Our Operations Our Investments Our Products and Services Climate-related Risks and Opportunities Nature and Biodiversity Social Governance Performance Data Abbreviations and Acronyms • This allowed us to assess our material emissions and consider reduction targets focused on major contributors. We also developed internal guidance on procuring renewable energy and carbon offsets to support our asset management teams when considering GHG reduction strategies at their properties. • We advanced asset-level ESG monitoring and reporting by partnering with a world leading data management platform provider for commercial real estate. The platform provides time-saving data capture, on-demand reporting capabilities, and helps centralize our ESG initiatives. Infrastructure Our infrastructure team seeks to identify investment opportunities in sectors that serve a fundamental need or provide an essential service, to society and the economy. We seek diversified exposures across multiple infrastructure sub-sectors including but not limited to renewable energy, digital infrastructure, regulated utilities, power generation, and transportation. Our infrastructure investment team is an active participant in the energy transition in the U.S., with investments in industries such as solar, wind, and battery storage. We believe these and other renewable energy assets are the key components of a lower-carbon electricity system. We believe investor stewardship amplifies our impact on the companies and markets in our investments’ area of influence. We collaborate with industry experts, other investors, and management of operating companies, routinely engaging on a variety of ESG topics. As an investor, we engage with our portfolio companies on relevant ESG considerations as part of ongoing evaluation and monitoring of our investments, seeking to improve their ESG risk profiles over time. In 2022, we made the following enhancements to our approach: • We launched an Infrastructure Sustainable Investing training program and achieved a 100% completion rate across our infrastructure investment professionals. This demonstrates an ongoing commitment from our team to continuous learning and development as the investment and ESG landscape continue to evolve. We will continue to formalize our sustainable investing training program and plan on delivering annual and thematic training to our investment teams in 2023 and going forward. • We integrated a third-party analytical platform into our due diligence process that enables our investment team to systematically evaluate physical climate risks under various scenarios • We received a management score of 30/30 from the GRESB Infrastructure Fund Assessment. 48 We also participated in our inaugural submission to the GRESB asset-level assessments for one of our funds. Through our continued commitment to support our portfolio companies on their sustainable investing journeys, our sustainable investing team partners with each company’s management and sustainability teams in their GRESB Infrastructure Asset Assessments. The results serve as a baseline to benchmark each portfolio company’s sustainability performance across industry peers and drive key insights on priority opportunities for improvement on sustainable investing performance. We view GRESB as a resource to help advance and evolve our portfolio companies’ sustainability practices. Private Equity and Credit In line with our ESG integration practices in the investment process, our sustainable investing team in private markets has implemented an annual sustainable investing monitoring process for our private equity and credit investments. Within our sustainable investing monitoring process, we measure specific ESG and climate-related metrics. The monitoring process allows our teams to track and measure the sustainable investing performance of our investments across our portfolio. In 2022, we made the following enhancements to our approach: • We enhanced our sustainable investing deal due diligence process by implementing a formalized feedback loop for our Private Equity and Credit Investment teams to consult the Sustainable Investing team on ESG-related risks and opportunities prior to investment committee meetings. While investment teams remain responsible for leading sustainable investing due diligence, the formalized feedback loop and review cycle have contributed to improved ESG insights and research, increased knowledge of ESG factors within the investment team, and greater process efficiency. • Our Sustainable Investing team launched and facilitated training sessions for our Private Equity and Credit strategies to refresh investment professionals on our proprietary sustainable investing framework and integration process. Investment teams also participated in thematic training that focused on ESG materiality and the proprietary tools and external resources used to help identify and assess material ESG risks and opportunities for specific industries. We will continue to formalize our sustainable investing training program and plan on delivering annual and thematic training to our investment teams in 2023 and going forward. 48 Base d on GRESB results released October 2022 covering the 2021 calendar year. Manulife Investment Management paid a per fund submission fee, per year. The GRESB Rating provides the basis for systematic reporting, objective scoring and peer benchmarking of the ESG management and performance of infrastructure funds around the world. More information about the GRESB Infrastructure Assessment, is available here. 33