Governance at Manulife We believe that excellent corporate governance is critical to our long-term success – for us, our shareholders and our customers. Our board of directors sets the tone at the top, promoting a strong culture of integrity and ethical behaviour throughout our entire organization. Our governance policies and practices are consistent in all material respects with the various rules and requirements that apply to us, including: • Insurance Companies Act (Canada) • corporate governance guidelines established by OSFI and the Canadian Securities Administrators • U.S. Securities and Exchange Commission rules and regulations • TSX corporate governance guidelines • New York Stock Exchange corporate governance rules for domestic issuers. Where to find it About the Manulife board 115 Integrity 127 Board committees 118 Equity ownership 127 Board roles and responsibilities 118 Term limits 127 Promoting a culture of integrity and Independence 128 ethical behaviour 118 Board succession and diversity 129 Strategic planning 119 Skills and experience 130 Risk oversight 119 Director development 132 Leadership development and Assessment 133 succession 121 Other information 135 Communications and shareholder Sustainability and ESG 135 engagement 124 Liability insurance 136 Subsidiary governance 126 Loans to directors and officers 136 Serving as a director 127 Directors’ approval 136 Serving on other boards 127 112 Manulife Financial Corporation