2022 ESG Report Introduction About this Report About Manulife CEO’s Message Global Trends Influencing our Strategy Our Impact Agenda ESG Material Topics Supporting the SDGs ESG at Manulife Environmental Social Governance Performance Data Abbreviations and Acronyms Impact Agenda Scorecard Making progress Accelerating progress Achieved Focus Area Commitment Metric Target Year Baseline Year Baseline 2022 Results Learn More Status Empower Sustained Health and Well-being Behavioural Insurance Innovate and scale our behavioural insurance platform Qualitative – Annual target – U.S. GRAiL launch; Canadian market expansion Behavioural Insurance Employee Well-being Continue to elevate well-being of our people — providing family friendly and mental health benefits programs Qualitative – Annual target – Virtual health coaching Employee Health and Wellness Occupational Health and Safety Expand healthy building certifications for real estate properties managed by Manulife Investment Management Number of healthy building certifications – Annual target – 10 new buildings certified 7 Occupational Health & Safety Drive Inclusive Economic Opportunity Diversity, Equity, and Inclusion Increase representation of women at the AVP level to 40% Percentage of women at the AVP level 2023 Annual target – 37% Diversity, Equity, and Inclusion Increase representation of women at the VP+ level to 34% Percentage of women at the VP+ level 2023 Annual target – 32% Diversity, Equity, and Inclusion Increase racially and ethnically diverse representation at the Director+ level in North America by 30% Percentage of racially and ethnically diverse representation 2025 2020 – 19% Diversity, Equity, and Inclusion Increase disability representation within Asia to 1.5% by 2023 8 Percentage of disability representation in Asia 2023 2021 0% 9 0.8% Diversity, Equity, and Inclusion Supplier Diversity Increase spend with diverse suppliers to at least 4% by 2025 Percentage of total spend from diverse suppliers in North America 2025 2020 0.06% 2.16% Supplier Diversity Financial Inclusion Reach 1 million learners through our financial capability programs by 2025 Number of financial capability program learners 2025 2022 – New Financial Inclusion Accelerate a Sustainable Future Net Zero General Account Investment Portfolio Net zero financed emissions in our General Account Progress against financed emissions targets 2050 2019 – 32 MT CO2e 10 ESG in Asset Ownership Our Investments Decarbonization Reduce absolute scope 1 & 2 emissions 40% by 2035 11 Percentage of absolute reduction in total scope 1 & 2 emissions 2035 2019 272,218 tCO2e 11.8% absolute reduction in total scope 1 & 2 GHG emissions 12 Our Operations Sustainable Farmland Certify 100% of eligible U.S. Manulife Investment Management managed farmland as sustainable Percentage of total eligible farmland certified as sustainable 2023 Annual target – 100% ESG in Asset Management Paper Reduce paper volume by 35% by 2025 and ensure remaining paper is from sustainable sources Percentage of absolute reduction in paper volume (page count) 2025 2019 436 million page count 34.6% reduction / 285.2 million page count 13 Our Operations Performance Data 7 Healthy building certifications are third-party certifications focusing on design and operational practices to promote healthier buildings such as Fitwel and WELL certification or equivalent. This does not include certifications focused specifically on the response to viral diseases, such as Fitwel Viral Response. Such certifications, while important and tracked separately, are more narrow in focus as it relates to the health and wellness of our buildings. As of December 31, 2022, Manulife had 16 buildings across our global portfolio that hold a healthy building certifications. 8 In 2023, we updated this target from our initial 1% goal to increase disability representation within Asia. 9 Based on employee self-identification. 10 This figure represents emissions data from 2021 reporting year. 11 Manulife has developed interim targets as part of our Climate Action Plan in accordance with the methodology for financial institutions outlined by the SBTi. As a result of alignment to SBTi guidance, our target for scope 1 & 2 emissions reduction has been updated to 40% by 2035. Please see ' Our Investments' for more information. 12 Manulife calculates Gre enhouse gas emissions annually and reports cumulatively against the 2019 baseline. 2022 reduction in location-based scope 1 & 2 emissions are driven by changes in the Manulife Investment Management Real Estate and Manulife Investment Management Timberland and Agriculture portfolio and an increase in the use of primary data in Manulife Investment Management Timberland and Agriculture this year. 13 Utilized assumptions in select markets where actual page count data was not available or incomplete. We will continue to improve data coverage and completeness across all markets. 8