Third Quarter 2020 Results Fact Sheet

Manulife reports 3Q20 net income of $2.1 billion, core earnings of $1.5 billion, APE sales of $1.4 billion, and a strong LICAT capital ratio of 155%

Net Income Attributed to Shareholders Core Earnings (C$ millions) (C$ millions)

2,068 1,527 1,477 1,561 1,453

1,228 1,296 (211) 1,028 723 727

3Q19 4Q19 1Q20 2Q20 3Q20 3Q19 4Q19 1Q20 2Q20 3Q20

Global Wealth & Asset Management Net Flows Global Wealth & Asset Management Gross Flows (C$ billions) U.S. Canada Asia (C$ billions) U.S. Canada Asia 5.1 38.2

4.9 32.9 33.1 3.2 28.0 27.5

(2.2) (4.4) 3Q19 4Q19 1Q20 2Q20 3Q20 3Q19 4Q19 1Q20 2Q20 3Q20

New Business Value APE Sales (C$ millions) U.S. Canada Asia (C$ millions) U.S. Canada Asia

526 526 1,601 1,495 469 460 1,443 1,430 384 1,176

3Q19 4Q19 1Q20 2Q20 3Q20 3Q19 4Q19 1Q20 2Q20 3Q20

1 MLI’s1 LICAT total ratio Financial Leverage Ratio (Life Capital Adequacy Test Ratio LICAT) (%) (%)

155 155 155 26.1 26.0 26.7 146 140 25.1 23.0

3Q19 4Q19 1Q20 2Q20 3Q20 3Q19 4Q19 1Q20 2Q20 3Q20

Assets Under Management and Administration Total Invested Assets (C$ billions) (C$414.2 billion, Carrying values as of September 30, 2020)

Fixed Income & Other Alternative Long-Duration Assets (ALDA) Public Equities

Private Placement 10% Government Bonds 20% Securitized MBS/ABS 1%

ortgages 12%

Cash & Short-Term 1,236 1,257 Securities 6% 1,167 1,189 1,158 Corporate Bonds 33% Policy Loans and Loans to Bank Clients 2% Other 1%

eal Estate Interests 1% Real Estate 3% Public Equities 5% Infrastructure 2% Oil & Gas 1% rivate Equity & Other 2% Timberland & Farmland 1% 3Q19 4Q19 1Q20 2Q20 3Q20

Financial Strength Ratings2

Rating Agency Rating Outlook

AM Best Company A+ (Superior) (Superior – 2nd of 13 ratings) Stable

DBRS Morningstar AA (Very Strong – 3rd of 22 ratings) Stable

Fitch Ratings Inc. AA- (Very Strong – 4th of 21 ratings) Stable

Moody’s Investors Service Inc. A1 (Low Credit Risk – 5th of 21 ratings) Stable

S&P Global Ratings AA- (Very Strong – 4th of 21 Ratings) Stable

Investor Relations Contact: Media Relations Contact: Adrienne K. O’Neill Brooke Tucker-Reid Global Head of Investor Relations Director Global Communications 200 Bloor Street East, Toronto ON, Canada M4W 1E5 200 Bloor Street East, Toronto ON, Canada M4W 1E5 Tel: (416) 926-6997 Tel: (647) 528-9601

1 MLI refers to The Manufacturers Life Insurance Company. 2 Financial Strength Ratings apply to the main life operating companies of Manulife Financial Corporation including The Manufacturers Life Insurance Company, John Hancock Life Insurance Co. (U.S.A.), John Hancock Life & Health Insurance Co. and John Hancock Life Insurance Co. of New York. DBRS does not rate the U.S. insurance subsidiaries separately. All ratings current as of September 30, 2020.

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