Executive Compensation • No hedging – executives and directors are not allowed to use strategies (for example, short selling, or buying or selling a call or put option or other derivatives) to hedge or offset a change in price of Manulife securities. This policy is incorporated into our code of business conduct and ethics. All employees and directors are required to certify compliance with the code every year Equity ownership guidelines Executives are required to own Manulife securities to align their interests with those of our shareholders. Executives have five years from the date they are appointed or promoted to the position to meet the requirement. All of the named executives meet or exceed the equity ownership guidelines. Deferred share units (DSUs), restricted share units (RSUs), performance share units (PSUs), common shares and preferred shares that executives own personally all qualify to meet the guideline, but stock options do not. We use the grant price or the current market price (whichever is higher) to calculate the value of awards and assume a performance factor of 100% for PSUs. Shares held personally are valued at the current market price. The following table shows equity ownership for each named executive as at March 7, 2023 We calculated the value using a share price of the greater of $27.11, the closing price of Manulife common shares on the TSX on March 7, 2023, and the grant price. Salaries were converted to Canadian dollars using the exchange rate of US$1.00 = $1.3717 on that date. Required Equity ownership ownership as multiple as multiple Time at of base Personal Total of base level salary RSUs PSUs DSUs shareholdings holdings salary Roy Gori 5.4 7.0 $15,336,847 $23,978,845 $14,189,453 $53,505,145 30.0 Phil Witherington 5.2 4.0 $4,722,843 $7,373,705 $1,272,489 $13,369,037 13.7 Marc Costantini 0.7 4.0 $4,301,012 $3,086,247 $299,052 $7,686,311 7.6 Marianne Harrison 10.2 4.0 $5,329,168 $8,393,966 $188,579 $1,306,315 $15,218,028 14.3 Scott Hartz 4.0 4.0 $4,275,781 $6,721,523 $3,374,066 $14,371,370 14.0 Roy Gori The total value of his personal shareholdings, including the 131,930 shares that remain in escrow, was $14,189,453, based on a share price of $27.11, the closing price of Manulife common shares on the TSX on Mar 7, 2023. The escrow account was established as part of the arrangement provided to Mr. Gori when he relocated to Toronto in 2017. See page 86 of our 2018 management information circular, which is available at manulife.com. 2023 Management information circular 107