Base salary Mr. Gori’s base salary of US$1,200,000 has not changed since 2020. The board approved an increase to US$1,300,000 effective March 1, 2023. Annual incentive Mr. Gori’s 2022 annual incentive award was approved and paid in February 2023. It was paid out at 122% of his target and was 36% lower than his 2021 award. Consistent with its standard practice, the committee combined the annual corporate performance score of 87% with its assessment of Mr. Gori’s personal performance and contributions across the company’s five strategic priorities (described in detail on page 67). The committee determined that Mr. Gori’s personal performance was exceptional in 2022, given Manulife’s demonstrated resilience in the face of difficult market conditions. 10% of the award was delivered in Manulife common shares purchased on the open market. You can read about the annual incentive plan and our performance for the year starting on page 54. Equity-based incentives Mr. Gori’s 2022 equity-based incentive awards totaled US$8,200,000. The awards, made in March 2022, were based on his performance, the competitive position of his compensation compared with our global compensation peer group (see page 50) and the board’s focus on aligning executive pay with the interests of our shareholders. You can read about the performance criteria for the performance share units starting on page 62. The board approved US$8,500,000 in equity-based incentives for 2023 and allocated 60% to performance share units and 40% to restricted share units. These awards are intended to be forward-looking. The actual amount Mr. Gori realizes will be greater or less than the theoretical grant date amount based on our share price at the time of vesting and Manulife’s financial performance over the next three years. 70 Manulife Financial Corporation