Manulife Releases 2022 Environmental, Social, and Governance Report and Public Accountability Statement

Report shares firm's continued progress towards generating long-term value for its business, its communities, and the planet

TORONTO, May 9, 2023 /CNW/ - Manulife (TSX: MFC) today released its 2022 Environmental, Social, and Governance (ESG) Report, as well as its 2022 Public Accountability Statement, detailing its approach, performance, and achievements relative to its overall sustainability efforts across the global trends of climate change, nature loss, rising inequity, digitization, and talent.

The firm's 2022 ESG Report includes the following¹:

Environmental

• A portfolio of C$68.6 billion in green investments at Manulife company-wide²;
• Surpassed 1.3 billion planted trees by Manulife Investment Management since 1985;
• 100% green energy powering Manulife Bank ATMs across Canada;
• 98% of Manulife Investment Management managed farms using regenerative practices; and
• 100% of our U.S. agriculture platform is certified to Leading Harvest, a third-party sustainability standard³.

Social

• $1.9 billion invested in projects or initiatives providing accessible and affordable healthcare to underserved populations worldwide⁴;
• $40.2 million invested in employee training and development;
• 37% female representation in leadership roles at the Assistant Vice President level;
• Achieved a top quartile employee engagement ranking amongst financial services peers⁵; and
• $25.1 million in community investment allocations worldwide.⁶

Governance

• 27% of the independent directors on Manulife's board self-identify as members of a visible minority⁷;
• 64% female representation among Manulife's independent directors on the firm's Board⁸;
• 100% of Manulife employees completed worldwide its Code of Conduct training;
• A rigorous product governance framework reflective of the firm's values to Obsess About Customers and Do The Right Thing; and
• 100% of eligible employees completed privacy and information security training, part of the firm's information and cyber security governance framework.

"As a global life insurer and asset manager, we understand the core connections between our environment, human health, and the collective well-being of our customers and communities," said Roy Gori, President and Chief Executive Officer, Manulife. "The impact we made during 2022 reflects our long-term strategy to build a better business to better the world. For all our stakeholders, we seek to empower sustained health and well-being to support the journey toward a better life, drive inclusive economic opportunities that create a more even playing field, and accelerate a sustainable future which preserves the planet we all share."

Not all offerings are available in all jurisdictions. Please visit Manulife.com/sustainability to access copies of the reports, and to learn more about the firm's recently released Impact Agenda.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

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¹ Please see our ESG Report for further details about our performance metrics, including the methodology for calculating and defining green investments.

² Private debt and equity investments, public securities excluded with the exception of several green bond investments.

³ Certification as of May 17, 2021 by Leading Harvest and is based on an annual assessment of the conformation to the Farmland Management Standard. Most current data shown. Please see https://www.leadingharvest.org.

⁴ Free or substantially subsidized and/or non-profit facilities that provide accessible and affordable healthcare regardless of ability to pay to underserved populations, such as minorities, vulnerable youth, people living below the poverty line, or households with income below 80% of the AMI. Investments correspond to (i) GA private investments related to the construction of healthcare facilities in Canada, the U.S., and the U.K and (ii) GA private investments in non-profit Canadian hospitals and nonprofit long-term-care facilities.

⁵ Against Gallup's financial and insurance company benchmark.

⁶ Includes cash, management costs, and monetary value of during work hours volunteering.

⁷ Data as of February 28, 2023.

⁸ Data as of February 28, 2023.

SOURCE Manulife

Media Contact, Luke Shane, Manulife, [phone], [email protected]