TOTAL DIRECT COMPENSATION The table below shows the total direct compensation the board approved for Mr. Costantini for 2022 , and his base salary and equity-based incentives for 2023 , based on the recommendation of the CEO and the management resources and compensation committee. (US$) 2022 2023 1 Base salary $720,000 $740,000 2 Annual incentive $1,057,000 $999,000 (target) Equity-based incentives2 PSUs $1,050,000 $1,110,000 • RSUs $700,000 $740,000 • stock options $0 $0 • Total direct compensation $3,527,000 $3,589,000 1 Mr. Costantini was rehired in June 2022. Represents a full year salary. 2 Timing of awards: the 2022 column includes an annual incentive awarded for 2022 and paid in February 2023, and the equity- based incentives granted in August 2022 2022 compensation mix 20% RSUs Fixed pay 20% Base salary Variable pay 30% Annual incentive 50% Equity-based incentives 30% PSUs 2023 target compensation mix 21% RSUs Fixed pay 20% Base salary Variable pay 28% Annual incentive 52% Equity-based incentives 31% PSUs 76 Manulife Financial Corporation