Executive Compensation Performance peer group We measured our 2022 TSR performance against the 2022 performance of a group of insurance companies with a global presence, comparable lines of business, and similar exposure to the same macroeconomic conditions as Manulife. 2022 performance peer group AIA Group Limited Allianz SE Assicurazioni Generali S.p.A. Aviva plc AXA SA Brighthouse Financial Dai-ichi Life MetLife, Inc. Power Corporation Principal Financial Group Inc. Prudential Financial, Inc. Prudential plc Sun Life Financial Inc. Unum Group Zurich Insurance Group Included in our compensation peer group Where we rank against our peers The table below shows how we rank against our peers. We compare our total assets and market capitalization with the compensation peer group, using the most recently reported figures in U.S. dollars. This illustrates why this group is appropriate in size as a benchmark for compensation. We compare our one, three and five-year TSR against the performance peer group. Manulife’s TSR is based on the price of Manulife’s common shares on the TSX for the periods ended December 31, 2022. Peer TSR is based on their primary stock exchange and on local currencies. Manulife (US$) Median Manulife percentile Compensation peer group Total assets $666.6 billion $679.2 billion 55th th Market capitalization $56.4 billion $36.3 billion 27 Performance peer group th One-year TSR 6.2% 5.9% 47 Three-year TSR 23.6% 7.4% 7th Five-year TSR 39.0% 17.1% 27th (source: Bloomberg) 2023 Management information circular 51