2022 Public Accountability Statement

2022 Public Accountability Statement Manulife Financial Corporation

About this Statement 03 Affiliates 03 Community Investment and Philanthropic Activity 04 Financial Inclusion 10 Employees in Canada 14 Income and Capital Taxes 15 Debt Financing for Business 16 Manulife Bank Public Accountability Statement 17 2022 Public Accountability Statement

About About this Manulife Statement Affiliates Manulife Financial Corporation is a leading This Public Accountability Statement (PAS) This statement is published by, and in respect of, Manulife international financial services provider, is in the respect of the financial year ended Financial Corporation, The Manufacturers Life Insurance helping people make their decisions December 31, 2022, related to Manulife Company, and the following affiliates: easier and lives better. With our global Financial Corporation and its affiliates (as headquarters in Toronto, Canada, we provide outlined below and collectively referred to as • First North American Insurance Company financial advice and insurance, operating as “Manulife” and the “company”). This information • Manulife Investment Management Limited Manulife across Canada, Asia, and Europe, is in accordance with Canadian federal and primarily as John Hancock in the regulations under the Insurance Companies • Manulife Securities Incorporated United States. Through Manulife Investment Act (Canada). All facts and figures are as of • Manulife Securities Investment Services Inc. Management, the global brand for our Global December 31, 2022, unless stated otherwise. Wealth and Asset Management segment, we • Manulife Investment Management (North America) Limited serve individuals, institutions, and retirement The 2022 Manulife Bank Public Accountability plan members worldwide. At the end of Statement, also included in this report, is • Manulife Securities Insurance Inc. 2022, we had more than 40,000 employees, published by, and in respect of, Manulife • Manulife Investment Management Distributors Inc. over 116,000 agents, and thousands of Bank of Canada and its prescribed affiliate, distribution partners, serving over 34 Manulife Trust Company of Canada. • Manulife Assurance Company of Canada million customers. We trade as ‘MFC’ on the All dollar amounts are in Canadian funds, Toronto, New York, and the Philippine stock unless stated otherwise. exchanges and under ‘945’ in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com. 2022 Public Accountability Statement 3

Community Investment and Philanthropic Activity In this section In 2022, we launched our Impact Agenda, Our strategy prioritizes investments In 2022, Manulife’s total Community Investment which articulates our commitment to to organizations that: contribution was $25.1 million, with employees Our Partnerships building a better business to better the world. • Share a commitment to diversity, donating over $4.8 million additionally. Through Accordingly, our approach to Community equity, and inclusion, particularly Manulife’s support of various community Volunteering & Giving Investment was updated to align to the through representative leadership and organizations and their respective programs, Impact Agenda and its respective pillars — targeted programming to historically we helped to enable more than $15 million of empowering sustained health and well-being, underserved communities. stakeholder giving across the globe. driving inclusive economic opportunity, and accelerating a sustainable future. • Drive community-centered solutions, Manulife is a member of the Business for working collaboratively across sectors, Societal Impact (B4SI) network. B4SI is the During the year, we informed our aimed at innovative and scalable initiatives. global standard in measuring and managing stakeholders, people, and partners, both corporate social impact. We align our Community internally and externally, about our new • Demonstrate a holistic approach to the Investment disclosures to its framework ensuring approach and continue to work to align many aspects of well-being, including that we measure and report on the impact of our our portfolio of Community Investment mental health, to improve and sustain contributions consistent with global best practices. organizations to our new areas of focus. positive outcomes over the long-term. • Utilize data to measure impact with Cash Contributions key performance indicators and a $22.1 million commitment to reporting on progress. Management Costs $2.4 million Value of During Work Hours Volunteering $0.5 million Total Community Investment $25.1 million 2022 Public Accountability Statement 4

Community Investment and Philanthropic Activity > Partnerships Our Partnerships The following partnerships spotlight just a few of the many organizations we supported and collaborated with globally during the year. In alignment with our new approach, we aim to Canadian Roots Exchange The Manulife Health empower sustained health and well-being by Manulife has partnered with Canadian Resilience Program increasing accessibility to easier and healthier Roots Exchange, a Canadian Indigenous for the Elderly behaviour choices through our Community youth-led organization that collaborates Investment. This is a natural extension of our with communities to provide programs, Manulife Hong Kong partnered with life insurance business as we hope to improve grants, and opportunities to strengthen Christian Family Service Centre (CFSC) Empower how well and long people live. and amplify the voices of Indigenous youth. to launch a healthcare program with Sustained Health World Central Kitchen Through this partnership, we support the flexible end-to-end medical services. & Well-being CREation Community Grants Program, a The Manulife Health Resilience Program During the year, we formalized our disaster multi-level funding program providing grants for the Elderly aims to provide 1,000 response strategy through a multi-year to strengths-based, community-focused, online medical consultations for partnership with World Central Kitchen and youth-led projects. CREation aims to seniors with limited mobility and family (WCK), a non-profit dedicated to providing empower and support Indigenous youth, support in the first phase, with end-to- meals to people impacted by humanitarian, increasing available resources for projects end support to help them rebuild their climate, and community crises worldwide. and groups that seek to create impactful physical and mental health from home. WCK’s unique model for disaster response community change and boost the wellness, Assisted by the CFSC project team with not only helps communities around the world resiliency, and engagement of Indigenous digital devices, the program offers free immediately recover from disasters by serving youth. During the year, we empowered online consultations with Chinese and freshly made, nourishing meals, but they 32 youth participants to lead projects in Western medical practitioners. After the also help invest in local economies through their communities and participate in four consultations, CFSC project staff help community-centered solutions that are critical capacity building workshops, which focused with the delivery of prescriptions. to sustained health and well-being. In 2022, on a variety of topics to foster project In 2022, 531 sessions were delivered WCK’s Relief Team mobilized with urgency to development and management. to seniors through this program. serve more than 185 million meals in Ukraine and another 10 million meals in response to emergencies in more than 30 other countries. 2022 Public Accountability Statement 5

Community Investment and Philanthropic Activity > Partnerships We work to drive inclusive economic In 2022, John Hancock funded 570 jobs The program was also extended opportunities by partnering with organizations at non-profits, hired 22 Scholars within the to provide financial lessons to 50 to make financial solutions accessible to company, and brought back 14 program female heads of household from two everyone through financial capability alumni as John Hancock college interns. communities in the Philippines. As part programs, and by providing targeted In addition to meaningful employment of this program, these women gathered employment initiatives to help individuals opportunities, MLK Scholars also weekly for two-hour huddles with a Drive Inclusive develop and sustain healthier habits to participate in online financial capability financial expert to discuss, share, and Economic drive financial security. courses to augment their experience. analyze outputs. Additionally, to further Scholars value the combination of promote financial education through Opportunity MLK Scholars employment and financial literacy: In creative storytelling, a new iteration 2022, 87% of participants reported that of the Manulife Peso Smart storybook Since the MLK Scholars program inception receiving a regular paycheck has changed series was made available to download in 2008, John Hancock has invested over the way they think about managing their for free on the company’s website. The US$15 million to provide jobs and professional money. 84% also agree that they feel more latest installment of the storybook was development opportunities to over 6,000 prepared to manage their money than they created in collaboration with students of youth Scholars. In addition to driving access to did before starting their summer jobs. University of Santo Tomas, who attended inclusive economic opportunity for the youth Peso Smart University classes. participants, the program also benefits non- Peso Smart profit organizations that employ the Scholars by providing important staffing support to help Manulife expanded its Peso Smart organizations deliver on their missions and financial literacy program with new drive positive change in local neighbourhoods. sessions, holding a four-part virtual Peso Smart University class attended by 300 university students in the Philippines who learned about personal finances, investments, unit investment trust funds (UITFs), and explored what a career as a financial advisor could look like. 2022 Public Accountability Statement 6

Community Investment and Philanthropic Activity > Partnerships Alongside our partners, we are accelerating a Led by National Geographic Explorer As part of the pledge, our efforts will sustainable future by supporting the transition Victoria Herrmann, the project, Preserving strive to accelerate the pace of innovation to a low carbon economy and are also leaning Legacies: A Future for our Past, aims to around amplifying the carbon removal into nature-based solutions to protect, enhance develop the capacity of communities in benefits of forests and will take shape access to, and increase stewardship of natural and around these landmarks to visualize in the form of a partnership to share resources and ecosystems. Through these climate impacts on a local scale and equip knowledge, tools, and experience, Accelerate a efforts, we hope to sustain our planet’s health them with scientifically proven methods and support of local communities, Sustainable and the well-being of local communities that to mitigate these effects and conserve the nature, and biodiversity. We have also depend on our planet for their livelihood. sites. There are ten heritage sites included committed to scaling Manulife Investment Future in the project. Management’s carbon-focused forestry National Geographic Society investments and sequestration of CO2 1t.org from the atmosphere through the forests Manulife and National Geographic Society we manage over a period of five years. launched a global partnership to deliver on During the year, Manulife made a pledge to an ambitious project to safeguard several 1t.org, which is the World Economic Forum’s UNESCO World Heritage Sites from the impact Trillion Trees platform, that serves the of climate change and protect the physical and global movement to conserve, restore and financial well-being of the communities that grow a trillion trees by 2030, in support of depend on those sites for their livelihood. the UN Decade on Ecosystem Restoration. 2022 Public Accountability Statement 7

Community Investment and Philanthropic Activity > Volunteering & Giving Volunteering & Giving Across our organization, our employees contributed to their communities in meaningful ways throughout the year, deepening our collective social impact, and building their skills and networks. Manulife continued to provide paid time off for our global team to volunteer at community organizations, and incentivized donations through a corporate matching gifts program, providing up to $4,000 in match funds per employee in select markets. Season of Giving • Acts of Kindness: For the third consecutive 22,099 hours In December, Manulife launched two year, Manulife gave each member of our volunteered by employees annual campaigns in tandem. These global team the equivalent of $50 to perform campaigns encouraged Manulife an act of kindness in their communities. 14,117 hours employees to give back to the • Giving Campaign: In addition to our annual during work hours communities in which we all live and campaign that encourages employees to 7,982 hours operate through employee giving make donations and volunteer their time, and by volunteering their time: this year we hosted a fireside chat with Kiva, outside of work one of our community partner organizations that offers crowdfunded microloans to $4.8 million underserved borrowers. donated by employees 2022 Public Accountability Statement 8

Community Investment and Philanthropic Activity > Volunteering & Giving Remembering In addition, Manulife Canada supports the John Hancock has served as the Principal ® and Honouring our Canadian Armed Forces’ Soldier On program, Sponsor of the Boston Marathon since Fallen Heroes contributing to the recovery of ill and injured 1986, promoting healthy living with up to women soldiers and veterans through grants 30,000 runners each year, from around Once again, employees in Toronto and Boston towards improved health outcomes. In 2022, the world. In addition, through the John volunteered to honour Remembrance Day in Manulife’s contributions helped 130 Soldier Hancock Boston Marathon Non-Profit Canada and Memorial Day in the United States. On members through the program. Program, Manulife employees and non-profit runners utilizing John Hancock’s bibs raised For the 8th consecutive year, more than Running with Purpose US $11.7 million in 2022 — alongside 12,000 flags were planted on the front lawn of participants in the B.A.A.’s Official Charity Manulife headquarters in Toronto, honouring Manulife has been the principal sponsor of the Program who raised another $20.2 million. members of the Canadian Armed Forces who Angkor Wat International Half Marathon since The US $32 million raised through the two have fallen in service. For the 13th consecutive 2015, helping raise funds in support of the programs brings the combined total raised year, John Hancock was the lead supporter Angkor Hospital for Children. The hospital is for charity to more than US$460 million of the Massachusetts Military Heroes Fund’s pioneering specialty treatments and care rarely since 1989. garden of flags on Boston Common to honour available elsewhere in Cambodia. This year, Memorial Day. Manulife donated US$110,000 to the hospital, A team of John Hancock volunteers, including bringing total donations since the beginning members of its military Employee Resource of our sponsorship to over US$585,000. In Group, joined hundreds of other volunteers addition, our employees were an integral part to plant more than 37,000 flags, each in helping fundraise for the 2022 marathon representing a brave local service member raising over US$44,760 for the hospital, who made the ultimate sacrifice. and many also signed up to run in the race. Following the race, employee runners and local Manulife leaders participated in a volunteer activity to provide clean water to local communities in Siem Reap. 2022 Public Accountability Statement 9

Financial Inclusion Access to financial products and services, Increasing Inclusivity of digitally and financially accessible to meet Manulife Philippines has lowered the and improvements in financial literacy, can Products and Services the evolving priorities and expectations of our minimum premium for its one-year term have a profound impact on people’s lives customers. The following Manulife’s products product, making it more affordable. and their ability to prepare for their future. Manulife serves more than 5.78 million are available on Kwik.insure, offering Customers can renew this plan on an annual customers within our emerging markets customers access to customizable insurance basis. Manulife Philippines has also lowered When we use our expertise and resources businesses in Cambodia, Indonesia, India, plans that give them life and health protection the minimum premium for its five-year term to advance financial inclusion and literacy, Malaysia, Myanmar, the Philippines, and coverage based on their needs, priorities, and product, React5, which comes with an empowering individuals, families and whole Vietnam. As part of our goal to build an budget, and enjoy various add-on benefits: accidental Death Benefit providing more communities with the tools and skills they inclusive and equitable society, we provide coverage for customers. may need, we lay the foundation for economic access to finance to traditionally underserved • Manulife FutureBoost, an affordable life prosperity that benefits us all. We promote populations through an increasing number insurance plan with no premium charges, Maximizing Health financial inclusion through community of specialized products and services that gives Filipinos potential income from investment initiatives, as well as a number make our offerings more accessible. bonuses ranging from 0.5% to 5%, plus Options in Vietnam of specialized products and services that access to expertly managed global and make our offerings more accessible. local investment funds. Max – Sống Khỏe (Max – Health) provides Increasing insurance affordable and easy-to-understand health • Manulife HealthFlex, a health insurance insurance protection and timely issuance. accessibility in the plan that allows customers to pay only Available online via Manulife Vietnam’s Philippines for the health coverage they need, eCommerce platform, Manulife Shop, is the has four base plans covering up to first in-market solution helping close the Manulife partnered with Kwik.insure, an 112 critical illnesses from any age health protection gap, further changing the online insurance marketplace, to make until they are 100 years old. relationship and perception that customers insurance accessible to more Filipinos • Manulife Horizons provides have with their insurer. Manulife Shop allows through its HealthFlex, FutureBoost, and comprehensive coverage for our Vietnamese to purchase insurance products Horizons plans, helping them financially customers and their families, and online at their own convenience. secure their future. As the first global life offers investment opportunities that insurance brand on Kwik.insure, we are allow them to grow their funds. focused on making our products more 2022 Public Accountability Statement 10

Financial Inclusion Addressing Critical Investing in Young Serving Americans products and services for customers. Illness in Hong Kong Vietnamese Adults with Diabetes We also expanded the definition of family as beneficiaries for policies and accept Manulife Hong Kong offers an affordable Khởi Đầu Bảo Vệ (My Starter Protection) John Hancock Aspire™ with Vitality, same-sex partners to purchase life critical illness insurance product, ManuVital in Vietnam is our first digital insurance is the first-of-its-kind life insurance insurance policies for their loved ones Care, that provides essential coverage product, offering younger segments of product designed specifically for where insurable interest exists. against up to 112 critical illnesses at an the population access to life insurance, Americans living with diabetes. affordable rate. With its low and guaranteed reflecting our commitment to financial Launched in 2019 through a Microinsurance premiums, this product makes health inclusion for customers of all ages. Available collaboration with Verily and protection accessible to more people and on Manulife Vietnam’s Manulife Shop, this Onduo, John Hancock Aspire™ is In 2021, Manulife Indonesia launched provides flexibility for customers to convert product offers a more accessible, hassle- helping a historically underserved Asuransi Aman Bersama Adira Finance to a more comprehensive plan in the future. free way for a younger segment of the population within the U.S. secure their (AMANDIRA), a simple and affordable population to purchase life insurance. financial future, with the benefits of a term life insurance option for Adira Supporting comprehensive diabetes management Multi-Finance and Bank Danamon Vietnamese parents Enhancing ManulifeMOVE program. Approximately 20 million customers and their families. Americans are living with either type In 2022, Manulife launched the Sharia In 2020, Manulife Vietnam entered a ManulifeMOVE integrates activity-tracking 1 or type 2 diabetes, and half either version, AMANDIRA Syariah, which is five-year partnership with Cộng Đồng Bầu, and insurance solutions to motivate healthy don’t have life insurance or do not have managed according to sharia principles a leading online community for expectant habits among our customers. The flagship enough life insurance. to cater to the needs of Adira Finance and new mothers, to empower families program, delivered through the proprietary customers, especially in Aceh Sumatra. to take control of their financial future. MOVE app, is a pioneer in its commitment With more than one million babies born in to continue investing in products as well Insuring Customers In 2022, Manulife launched the first Vietnam each year, the partnership aims as digital transformation to simplify the with HIV in Hong Kong digital bancassurance product, MiFirst to help empower these families with the customer experience as well as increase and Macau Life Protector (MiFLIP), available through right financial knowledge and advice so access to insurance services. During the the DBS digibank application. This aligns they can feel prepared and in control of year, we integrated features of management, Manulife Hong Kong and Macau with our commitment to deliver continuous their financial futures. and access to insurance policy information announced the offering of individual life innovation and ease of services to reach out into the product so that customers can insurance coverage to customers who are to as many customers as possible, especially conveniently monitor their insurance policies diagnosed with Human Immunodeficiency millennials, with a digital solution. and quickly access digital solutions. For Virus (HIV), ensuring financial security eligible users in Vietnam, customers can for their loved ones and families as access the hospital fee guarantee card part of our mission to modernize and locate the nearest Manulife-affiliated traditional underwriting policies and medical facility by GPS. increase the accessibility of life insurance 2022 Public Accountability Statement 11

Financial Inclusion Supporting Business Enable Behaviour/Attitude Changes poverty, develop employment skills and LEAP | Pecaut Centre Education in Cambodia • Increase awareness and action to set short- work towards obtaining a certificate for Social Impact – The term and long-term financial goals that from Humber College in Business Office Equity Opportunity Manulife Cambodia, in partnership with meet individual needs and expectations Technology. In 2022, Manulife’s support Sathapana Bank, a leading commercial helped 30 women begin this program and The Equity Opportunity seeks to build an bank in Cambodia, Khmer Enterprise, • Empower individuals to design and Manulife employees led three financial equitable and resilient future for women and Credit Guarantee Corporation of pursue career pathways empowerment sessions for program in Canada, particularly those from equity- Cambodia (CGCC), successfully launched Increase Skills/Personal Effectiveness participants. deserving groups. With LEAP, we are the first cohort of I’m Financially Literate • Increase an individual’s ability to manage scaling innovative, high-impact solutions (IFL) to provide non-financial services to personal finances and/or help them gain Windmill Microlending that address the long-standing barriers SMEs, MSMEs, and women in business. new qualifications/skills preventing women from achieving full The material of the course is designed to The Manulife Loan Fund for Finance economic well-being, and that expand solve challenges faced by business owners Improve Quality of Life/Well-being provides loan capital directly into the hands economic opportunities. Together, we are including a lack of business acumen and of newcomers eager to restart their careers providing the following cohort of social financial literacy skills. • Improve a sense of belonging, resilience, in a finance-related field across Canada, ventures with strategic and operational and greater social connections with specific focus in Ontario, British support and leadership coaching, to • Enable individuals to maintain meaningful Columbia, Québec, and Nova Scotia. expand their services and help more employment in their industry of choice, With an average loan amount of $11,000, women attain financial resilience: Investing in Financial increase their earning potential, and/or Manulife provided 16 individuals with The Forum, Keepers of the Circle, NPower protect their financial security funds to support direct education costs, Canada, Newcomer Women’s Services Opportunity and Access including books, tuition and professional Toronto, Up With Women, and WoodGreen In addition to the community investments development, as well as the costs of Community Services. This work comes As part of our approach to our highlighted in alignment to our second living, allowing clients to focus on studies on the heels of LEAP’s report “Advancing Community Investment, we focus on Impact Agenda pillar, we supported the and accreditation. On average, Windmill Women’s Economic Well-Being” published the following areas to support and following projects during the year: Microlending clients see a 3.5x increase in in August 2022. enable global access to financial income and a drop in unemployment from products and services. We aim to: New Beginnings 41% to 8%. Our partnership is helping Support Program convert the potential of newcomers into prosperity and creating a stronger Manulife continues to partner with New economy and diversified labour force. Beginnings Support Program in Toronto, an organization that helps restructure the lives of low-income and underserved women by helping them transition out of 2022 Public Accountability Statement 12

Financial Inclusion Manulife DO IT TV EVERFI – The self-guided, interactive lessons help less accessible to students. The MBPS In Indonesia, Manulife continued its Making Sustainable individuals gain a better understanding of Actuarial Academy was established in commitment to building financial and Impactful what investing is in general with a focus on 2016 as a key initiative to support and awareness of Indonesians through an responsible decision-making that aligns to accelerate the development of local educational program that combines the Financial Choices personal values. We hope to reach more actuarial talent in the Philippines. It aims entertainment approach (edutainment). Manulife Investment Management launched than 1 million learners within two years. to spread awareness of the actuarial The program, titled Do It, was streamed a new strategic partnership with EVERFI, career path, create tools and guided virtually on YouTube and IG Live and a leading education technology innovator learning opportunities to empower produced a total of 12 episodes in 2022. that designs scalable solutions to empower Manulife Business students on the first step of their organizations to instill knowledge on critical Processing Services actuarial journey, offer financial support topics. Through this strategic partnership, (MBPS) Actuarial through exam sponsorship, and provide Manulife Bank Manulife Investment Management will employment opportunities to graduates. In 2022, Manulife Bank introduced auto- become the global founding partner of Academy In addition to prepared materials, guided deposit, enabling customers to send and a first-of-its-kind sustainable investing The Actuarial career path, consistently videos, and graded practice problem sets, the Academy offers live virtual ® education initiative, marking a pivotal step ranked as a top option for university receive Interac 14 eTransfer transactions learning sessions taught on weekends by without using a security question. This for Manulife’s Impact Agenda in support graduates, is not a well-known profession volunteers from within the MBPS Actuarial makes it easier for customers to send and of our efforts to drive inclusive economic within student circles and involves department, many of whom are former receive money. As part of our disaster opportunity and accelerate a sustainable 7-10 years of post-graduate learning to Academy Graduates themselves. response, Manulife Bank offered a financial future. We intend to make the program become a fully qualified actuary. Within relief program for victims of Hurricane available to high school students and adults our emerging markets businesses, Fiona in Atlantic Canada. This allowed in North America, Europe, and Asia during where insurance penetration tends to impacted customers to defer loan payments 2023, through schools and a publicly be lower, these can collectively become and access locked-in money. accessible microsite. barriers to entry making the career path 2022 Public Accountability Statement 13

Employees in Canada With our global headquarters in For the period ended December 31, 2022 Toronto, Canada, we operate as Province and Territory Full Time Part Time Total Manulife across our offices in Canada, Asia, and Europe, and Alberta 265 2 267 primarily as John Hancock in the British Columbia 267 3 270 United States. We have more than Manitoba 87 3 90 40,000 employees globally and New Brunswick 70 0 70 more than 12,000 in Canada. Newfoundland and Labrador 10 0 10 Nova Scotia 1,176 11 1,187 Ontario 8,276 125 8,401 Prince Edward Island 7 1 8 Quebec 1,769 41 1,810 Saskatchewan 13 1 14 Total 11,940 187 12,127 2022 Public Accountability Statement 14

Income and Capital Taxes In 2022, Manulife incurred For the period ended December 31, 2022 $2.56 billion of taxes paid (C$ thousands) Total income and capital taxes or payable to all levels of Federal 553,611 governments globally of Provincial and territorial which $1.44 billion were paid or payable in income British Columbia 39,529 taxes and capital taxes and Alberta 26,065 $1.12 billion in other taxes. Saskatchewan 4,940 Manitoba 6,409 Ontario 222,522 Quebec 12,878 New Brunswick 5,481 Nova Scotia 13,220 Prince Edward Island 968 Newfoundland and Labrador 4,109 Yukon 218 Nunavut 202 Northwest Territories 355 Total provincial and territorial 336,895 Total Canada 890,506 Total U.S. 305,362 Total Asia 231,567 Hong Kong 103,906 Japan 45,568 Singapore 28,306 Mainland China 2 Vietnam 2,179 Rest of Asia 51,604 Taxes paid in other jurisdictions 8,353 Total income and capital taxes paid 1,435,788 Other Taxes1 1,120,336 Total taxes (C$ billions) 2.56 2022 Public Accountability Statement 1 Other taxes include property taxes, business taxes, payroll taxes, premium taxes, investment income taxes, and commodity taxes. 15

Debt Financing for Business Manulife is committed to making debt financing available to businesses across Canada. In 2022, authorized debt financing for businesses in Canada totaled $3 billion. $0 – $25,000 – $100,000 – $250,000 – $500,000 – $1,000,000 – $5,000,000 C$ thousands $24,999 $99,999 $249,999 $499,999 $999,999 $4,999,999 and greater Total British Columbia 119 2,042 4,409 13,384 35,951 206,175 386,329 648,409 Alberta 57 748 837 2,509 6,187 27,583 348,382 386,303 Saskatchewan 8 — — — — 2,627 — 2,635 Manitoba — 145 591 1,820 — 4,011 5,000 11,567 Ontario 90 3,796 9,413 8,384 34,778 92,256 1,340,051 1,488,768 Quebec 193 3,715 7,736 7,124 14,780 95,259 158,550 287,357 New Brunswick 46 265 400 780 — 13,061 10,000 24,552 Nova Scotia 27 141 — 289 1,063 5,631 93,861 101,012 Prince Edward Island — 50 146 — — — 5,000 5,196 Newfounland — 42 — 442 800 — 30,700 31,984 Yukon — — — — — — — — Nunawut — — — — — — — — Northwest Territories — — 200 — — — — 200 Total Canada 540 10,944 23,732 34,732 93,559 446,603 2,377,872 2,987,982 Total U.S — — — — — 19,215 2,645,187 2,664,402 Total Europe — — — — — — 184,846 184,846 Total Asia — — — — — — — — Total 540 10,944 23,732 34,732 93,559 465,818 5,207,906 5,837,231 2022 Public Accountability Statement 16

Manulife Bank Public Accountability Statement In this section Since its inception in 1993, Manulife Bank customers to take control of their finances. Personalized, has been guided by the conviction that Manulife One for Business provides flexible Local Advice Automated Teller Machines (ATMs) banking plays a central role in the financial financing for the commercial properties of Added and Removed in 2022 health of Canadians. We offer innovative, Canadian small business owners. Manulife Bank leverages a network of almost Debt financing for business flexible banking solutions designed to help 28,000 independent advisors and mortgage make decisions easier and lives better for Manulife Bank Select allows customers brokers across Canada to refer or distribute our customers. And, because everyone’s to customize their mortgage and potentially its banking products. This approach Taxes financial situation is unique, we work closely mitigate the risk of rising interest rates by allows our customers to access objective, Employees with independent financial professionals who dividing their debt among a variety of fixed personalized advice in their community and understand our customers’ overall financial and variable-rate options. at their convenience. objectives and can help ensure they find the Advantage Account, Manulife Bank’s banking solutions that are right for them. We support our customers through a high-interest chequing account pays a high nationwide team of more than 150 mortgage rate of interest on every dollar and features specialists and business development Innovative, Flexible no-fee everyday banking when customers consultants, who are available to meet Banking Solutions maintain a balance of at least $1,000. locally with customers, and the advisors and Manulife Bank encourages Canadians to All-In Banking. This mobile-first banking mortgage brokers who support them. simplify their banking and make their money solution includes a daily banking account, We have three offices that offer select work harder so they can achieve their a savings account and travel insurance. services to our Private Banking clients, by financial goals and get more out of life. All-In Banking is designed to help customers appointment only. The offices are located in In addition to offering competitive rates on all make the most of their money. It does this Montréal, Toronto and Vancouver: our products, Manulife Bank helps Canadians by waiving their account fee when they bank more efficiently with innovative, increase their savings by at least $100 per • 900 Maisonneuve O. Suite 16, flexible banking solutions, including: month and by allowing them to automatically Montréal, Quebec sweep extra money from their daily banking • 250 Bloor Street East, Main Floor, 1 Manulife One allows our customers to account into their savings account at the combine nearly all their banking needs end of each day. Toronto, Ontario within a single, efficient account. This can • 550 Burrard Street, Suite 728, result in significant savings compared Vancouver, British Columbia to traditional banking and empowers 2022 Public Accountability Statement 1 Manulife One, Manulife Bank Select, Advantage Account and All-In Banking are offered through Manulife Bank of Canada. 17

Manulife Bank Public Accountability Statement Mobile, Online and Online & Mobile access Manulife Bank leverages online Support for Seniors Telephone Access Manulife Bank makes banking services application systems for mortgage brokers, Manulife Bank has implemented a voluntary available through our mobile app and independent advisors and retail lending Code of Conduct that sets out principles Manulife Bank makes it easy for customers online banking sites. In 2022, we specialists. These systems allow our and guidance for banks when providing to manage their day-to-day finances through introduced auto-deposit - the ability for customers to get up and running with products and services to seniors. We mobile, online and telephone banking. customers to send and receive money many of Manulife Bank’s deposit and demonstrate our commitment to serving ®2 loan products quickly and efficiently. We using Interac eTransfer without using also offer online application for chequing seniors in a variety of ways: Customer Service and Interactive a security question. Manulife customers & savings accounts, making it easy for Voice Response (IVR) have access to Manulife ID – a single customers to apply from the comfort of • Appointed a Seniors Champion to oversee We continue to develop our two customer login ID and password they can use to their homes. the Code and programs designed to service centres in Waterloo, Ontario, and access all of their Manulife and Manulife support the Code. Halifax, Nova Scotia. This dual centre model Bank products. Manulife ID supports • Deliver a robust training program for helps us provide seamless operations in multi-factor authentication, which brings Automated Teller front-line staff about red flags that may the event of a business disruption. Our a higher level of security to online and Machine (ATM) Access indicate elder abuse, fraud/scams and Customer Service Centre is open 365 days mobile banking. Power of Attorney abuse. a year, making it easy for customers to Within the iOS version of our mobile Manulife Bank has 242 publicly • Have escalation procedures for addressing reach us when it’s convenient for them. banking app, we offer a secure inbox as accessible ATMs across Canada. In the situation when one of these red flags Manulife Bank’s IVR system features natural another way for customers to reach us. addition, Manulife Bank is a member is detected. ® à language recognition and voice biometrics of THE EXCHANGE Network , one of TM Canada’s largest networks of ATMs. in both official languages, simplifying the Customers using a ManulifeMONEY+ • Include a Support for Seniors section customer experience by allowing them Visa* card can add their card to their Our membership allows Manulife Bank on our website. to validate their identity using only their mobile wallet and make payments using customers to use any EXCHANGE ATM their mobile device. without being charged a convenience fee. • Offer a discounted monthly fee for seniors on voiceprint and navigate the IVR system both Manulife One and Manulife Bank Select. with spoken requests. 2 The Interac logo and Interac e-Transfer are registered trademarks of Interac Corp. used under licence. * Trademark of Visa Int., used under license. ® ® à Fiserv EFT is the owner of THE EXCHANGE trademark and its associated rights. Fiserv EFT has granted FICANEX the exclusive ® right to use, market and sublicense THE EXCHANGE trademark and the intellectual property rights associated with the operation ® 2022 Public Accountability Statement of THE EXCHANGE Network throughout Canada. Manulife Bank is an authorized user of the mark. 18

Manulife Bank Public Accountability Statement Customer Consultation Consultations about new Consultations on issues about Voluntary Codes of Conduct Manulife Bank regularly consults with and products and services which we have received complaints • Code of Conduct for Federally solicits feedback from customers to help • Annual feedback survey: In this survey, We regularly survey our customers about Regulated Financial Institutions: ensure our products and services meet we also ask customers to provide input concerns and pain points. Results showed Mortgage prepayment information current and future needs. Examples of on a variety of new products and that there is some lack of awareness among • Code of Conduct for the Credit and these consultations from 2022 include: service ideas. customers about how to file a complaint. Debit Card Industry in Canada • Innovation Community. In 2022 we We’re reviewing our current messaging Consultations about our existing continued to engage our Innovation and looking for opportunities to improve • Canadian Code of Practice for products and services Community, comprising a few hundred customer awareness. Consumer Debit Card Services • Annual feedback survey. Each fall we customers who indicated their • Principles of Consumer Protection survey approximately 1,400 customers willingness to provide ongoing feedback. Voluntary Codes of for Electronic Commerce: to gauge their satisfaction with our We engage these customers regularly Conduct and Public A Canadian Framework products and services. for feedback on a variety of potential Commitments • Canadian Bankers Association: product and service enhancements. Code of Conduct for Authorized • New client surveys. We survey customers Voluntary Codes of Conduct are non- Insurance Activities via email at different points during their Consultations about legislated commitments, voluntarily first year with us to help ensure we’re emerging trends and issues made by companies, associations and • Canadian Bankers Association: meeting their expectations. • Annual feedback survey: Each year, we other organizations to influence or guide Model Code of Conduct for • Transactional surveys. We send customers update our survey to capture feedback behaviour, for the benefit of both themselves Bank Relations with Small- and short feedback surveys following an on current topics. In addition, the survey and their communities. Voluntary codes Medium-Sized Businesses interaction with our contact centre. includes a number free-form fields that and commitments can address the needs • Manulife Bank Small Business allow our customers to provide more of consumers, workers and citizens while Code of Conduct detailed feedback and/or raise issues we helping companies remain competitive. haven’t specifically asked about. Through the Canadian Bankers Association • Canadian Bankers Association: (CBA), the banking industry has developed, Code of Conduct for the Delivery of • Innovation Community: We also look and is committed to, several voluntary codes Banking Services to Seniors to our Innovation Community for their designed to protect consumers. Manulife support in identifying and exploring Bank and its subsidiaries are committed emerging trends and issues related to to the following voluntary codes of conduct their banking needs. and public commitments: 2022 Public Accountability Statement 19

Manulife Bank Public Accountability Statement Public Commitments Corporate Giving and Our Corporate Structure to complaints promptly, accurately and with • Canadian Bankers Association: Social Responsibility Manulife Bank of Canada (MBC or Manulife the utmost courtesy. The Manulife Bank Commitment to Provide Bank) is a Schedule I federally chartered Client Dispute Resolution Office provides Information on Mortgage Manulife Bank shares Manulife’s bank and a wholly owned subsidiary of The our customers with accessible means with Security (2014) commitment to volunteerism, Manufacturers Life Insurance Company, which to communicate any complaints, and community development and corporate which is a wholly owned subsidiary of we employ our best effort to respond to and • Canadian Bankers Association: giving as described in Manulife’s 2022 Manulife Financial Corporation. Manulife resolve them. All complaints and personal Commitment on Powers of Attorney Public Accountability Statement, Trust Company (Manulife Trust), a information collected by the Manulife Bank and Joint Deposit Accounts (2014) and its data is fully integrated into subsidiary of Manulife Bank, is a federally Client Dispute Resolution Office, whether • Canadian Bankers Association: the information provided for those incorporated trust company licensed to written or verbal, are handled in a fair, timely, Commitment on Modification or initiatives. Manulife Bank employees operate as a trust company in Canada. professional and confidential manner. Replacement of Existing Products are frequent and strong supporters of Manulife’s philanthropic initiatives. In 2022, the Manulife Bank Client Dispute or Services (2012) Manulife Trust Company Resolution Office (CDRO) received a total • Canadian Bankers Association: In 2022, Manulife Bank offered a relief of 26 complaints. Of those, 10 were not Guidelines for Transfers of program for customers impacted by Manulife Trust leverages the brand, escalated through our standard complaint Registered Plans Hurricane Fiona in Atlantic Canada. technology, operational and customer handling process and were directed back to This program allowed impacted service platforms and processes, products, the appropriate business areas for resolution. • Canadian Bankers Association: customers to defer loan payments distribution network and management Of the remaining 3 were escalations made Online Payments and access locked-in money. expertise of Manulife Bank. by clients from the external complaints body, • Plain Language Mortgage Manulife Trust offers simple deposit The Ombudsman for Banking Services and Documents CBA Commitment products that are available through Investments (OBSI). 13 complaints were investment dealers, as well as fixed-term handled by the CDRO with only one case still residential mortgages, available through being investigated and not yet resolved by Manulife Bank’s nationwide network of December 31, 2022. The average time taken retail lending specialists. Data provided for to resolve these complaints was 31 days. ® By working together with Bullfrog Power , Manulife Bank includes Manulife Trust data. 7 of these complaints were received after every Manulife Bank ATM is powered with June 30, 2022, date at which the new FCAC 100 per cent green energy. Complaint Handling framework came into effect. The prescribed period for dealing with a complaint is now 56 At Manulife Bank and its subsidiary Manulife days after the day on which the complaint is Trust, we place a high value on complaint received. The 6 closed complaints took 52 resolution and are committed to responding days on average to be closed. 2022 Public Accountability Statement 20

Manulife Bank Public Accountability Statement Automated Teller Machines (ATMs) Added and Removed in 2022 Manulife Bank has 242 publicly ATMs added by Manulife Bank in 2022 ATMs removed by Manulife Bank in 2022 accessible ATMs across Canada. In addition, Manulife Bank is a Address City Province Address City Province ® member of THE EXCHANGE 2520 Postmaster Dr Oakville Ontario 86 Bridge St Almonte Ontario # Network , one of Canada’s largest 10483 Hwy 7 Carleton Place Ontario 10 King St. E Omemee Ontario network of ATMs. Our membership allows Manulife Bank customers to 3650 Rutherford Road Vaughan Ontario 194 Lansdowne St. E Peterborough Ontario use any EXCHANGE ATM without 31 Broadway Ave Orangeville Ontario 2 Henderson Dr Aurora Ontario being charged a convenience fee. 1515 Main St. E Milton Ontario 235 Wilson Dr Milton Ontario 591 Oxford St W London Ontario 50 Toronto St. N Markdale Ontario 90 Queen St. N Tilbury Ontario 735 Wonderland Rd N London Ontario 2730 Howard Ave Windsor Ontario 1200 Brown St Thunder Bay Ontario ® ® # Fiserv EFT is the owner of THE EXCHANGE trademark and its associated rights. Fiserv EFT has granted FICANEX the ® exclusive right to use, market and sublicense THE EXCHANGE trademark and the intellectual property rights associated 2022 Public Accountability Statement with the operation of THE EXCHANGE® Network throughout Canada. Manulife Bank is an authorized user of the mark. 21

Manulife Bank Public Accountability Statement Debt financing for business Manulife Bank provides loans to businesses, helping to fuel their growth. Manulife Bank does not have any investments or partnerships in micro-credit programs. Amount of debt financing authorized in 2022 (C$ 000’s) $0 – $25,000 – $100,000 – $250,000 – $500,000 – $1,000,000 – $5,000,000 C$ thousands $24,999 $99,999 $249,999 $499,999 $999,999 $4,999,999 and greater Grand total British Columbia $119 $2,042 $4,409 $13,384 $35,951 $201,725 $76,776 $334,406 Alberta $57 $748 $837 $2,509 $6,187 $27,583 $40,000 $77,921 $8 $145 $791 $1,820 $- $6,638 $5,000 $14,402 Saskatchewan and Manitoba( ) * Ontario $90 $3,796 $9,413 $8,384 $34,778 $90,781 $62,483 $209,725 Quebec $193 $3,715 $7,736 $7,124 $14,780 $95,259 $10,000 $138,807 Nova Scotia, New Brunswick, Newfoundland and Labrador, $73 $498 $546 $1,511 $1,863 $13,061 $10,000 $27,552 and Prince Edward Island ( ) * Total Canada $540 $10,944 $23,732 $34,732 $93,559 $435,047 $204,259 $802,813 Total US $ – $ – $ – $ – $ – $ – $ – $ – Total Asia $ – $ – $ – $ – $ – $ – $ – $ – Grand Total $540 $10,944 $23,732 $34,732 $93,559 $435,047 $204,259 $802,813 2022 Public Accountability Statement 22

Manulife Bank Public Accountability Statement > Debt financing for business Number of customers to which debt financing was authorized in 2022 $0 – $25,000 – $100,000 – $250,000 – $500,000 – $1,000,000 – $5,000,000 C$ thousands $24,999 $99,999 $249,999 $499,999 $999,999 $4,999,999 and greater Grand total British Columbia 8 37 30 39 51 103 15 283 Alberta 4 12 5 8 9 16 8 62 Saskatchewan and Manitoba ( ) 1 4 6 5 — 4 1 21 * Ontario 8 71 61 23 49 50 11 273 Quebec 13 72 54 21 22 45 2 229 Nova Scotia, New Brunswick, Newfoundland and Labrador, 5 9 4 4 3 6 2 33 and Prince Edward Island (*) Total Canada 39 205 160 100 134 224 39 901 Total US — — — — — — — — Total Asia — — — — — — — — Grand Total 39 205 160 100 134 224 39 901 Note: *Data for certain provinces have been consolidated to protect the privacy of individual borrowers who might otherwise be identifiable. 2022 Public Accountability Statement Note: Yukon, Northwest Territories and Nunavut have been excluded from the table above as the amount of debt financing authorized in 2022 was nil. 23

Manulife Bank Public Accountability Statement Taxes The tables below outline taxes for Manulife Bank and Manulife Trust, including amounts paid or payable to federal and provincial governments. Manulife Bank Manulife Trust Provinces and Territories Capital Taxes Income Taxes Total Taxes Provinces and Territories Capital Taxes Income Taxes Total Taxes Newfoundland and Labrador Newfoundland and Labrador Prince Edward Island Prince Edward Island Nova Scotia 3,457,264 1,422,744 4,880,008 Nova Scotia 70,121 1,759 71,880 New Brunswick New Brunswick – Quebec 466,511 604,266 1,070,778 Quebec 15,049 15,049 Ontario 9,518,204 9,518,204 Ontario 803,986 803,986 Manitoba Manitoba Saskatchewan Saskatchewan Alberta Alberta British Columbia British Columbia Yukon Yukon Northwest Territories Northwest Territories Nunavut Nunavut Provinces and Territories 3,923,775 11,545,215 15,468,990 Provinces and Territories 70,121 820,793 890,914 Federal 16,088,526 16,088,526 Federal 1,057,667 1,057,667 Total Taxes 3,923,775 27,633,740 31,557,515 Total Taxes 70,121 1,878,460 1,948,581 2022 Public Accountability Statement 24

Manulife Bank Public Accountability Statement Employees Employment Type Province Full time Part time Total Alberta 24 0 24 British Columbia 33 0 33 Manitoba 10 0 10 New Brunswick 4 0 4 Newfoundland and Labrador 2 0 2 Nova Scotia 150 2 152 Ontario 484 3 487 Quebec 106 0 106 Saskatchewan 2 0 2 Grand Total 815 5 820 2022 Public Accountability Statement 25

Ways to contact us: manulife.com Manulife Attention: Corporate Sustainability 200 Bloor Street East Toronto, ON M4W 1E5 Canada Manulife, Manulife & Stylized M Design, and Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its 2022 Public Accountability Statement Manulife Financial Corporation May 2023 affiliates, including Manulife Financial Corporation, under license. 3229083E 04/23 AODA