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 Health and Life Insurance Manulife aims to be at the forefront of analysis of the impacts of climate change on products and underwriting for health and life insurance. These impacts range in severity and complexity, from acute illness to chronic stress. Our approach includes an interdisciplinary team of Manulife professionals that undertake research to understand the human impacts of climate change, build awareness of human impacts across the business, and finally, engage with external experts on relevant initiatives. Our changing climate stands to impact human health. Every country and individual will be impacted, with vulnerable populations at greatest risk. We believe that the work undertaken by our business benefits Manulife’s ability to manage climate-related risks and opportunities and respond to client needs. In 2022, we made the following enhancements to our approach: • Through Manulife’s partnership with Munich Re, we implemented the use of a climate risk tool that provides several business areas with detailed, geography-specific climate risks, both current and projected, based on different Representative Concentration Pathway (RCP) scenarios. • We participated in the development of the Geneva Association paper titled “ Anchoring Climate Change Risk Assessment in Core Business Decisions in Insurance ”. Reinsurance Manulife Re is the global reinsurance operation of Manulife Financial Corporation. Established in 1986, Manulife Re is a long-term and well-established player in the highly specialized market of property and aviation retrocession. Manulife Re serves a select global group of property and casualty clients. Manulife Re offers superior financial security and provides customer-focused solutions that help our clients manage the earnings volatility that results from large catastrophic property and aviation events. With a focus on providing retrocession of property catastrophe business for large natural catastrophes, Manulife Re provides its clients with a valued source of funds and capital through the re/ insurance chain. This allows insurance companies to provide insurance coverage enabling resilience to end customers in the insurance chain in the face of natural disasters. Ensuring communities are able to rebound and rebuild after a major catastrophe is an important component as it helps severely affected societies to recover. Photo captured by our colleague: Cherry Bation, Philippines 35