Executive Compensation Cost of management ratio The table below shows that total compensation for Manulife’s named executives has remained consistently below 1.0% of net income attributed to shareholders and constant at 0.6% for the last three years. The table provides total compensation awarded to our named executives, as reported in the summary compensation table in each of the previous five years. 2018 2019 2020 2021 2022 Total compensation reported for the named executives ($ thousands) $35,909 $38,492 $36,828 $41,839 $41,647 Net income attributed to shareholders ($ millions) $4,800 $5,602 $5,871 $7,105 $7,294 Cost of management ratio 0.7% 0.7% 0.6% 0.6% 0.6% Cost of management ratio Total compensation paid to the named executives divided by net income attributed to shareholders, expressed as a percentage. Named executives each year 2022: Roy Gori, Phil Witherington, Marc Costantini, Marianne Harrison, Scott Hartz 2021: Roy Gori, Phil Witherington, Marianne Harrison, Anil Wadhwani, Scott Hartz 2020: Roy Gori, Phil Witherington, Marianne Harrison, Anil Wadhwani, Scott Hartz 2019: Roy Gori, Phil Witherington, Rahul Joshi, Marianne Harrison, Anil Wadhwani 2018: Roy Gori, Phil Witherington, Warren Thomson, Marianne Harrison, Anil Wadhwani 2023 Management information circular 85