Manulife Financial (MFC) investor relations material

Strategic milestones and financial performance

• Released a refreshed enterprise strategy focused on AI, customer health, wealth, and longevity, leading to strong financial and operating results, including a 14% increase in core EPS and a 16% rise in contractual service margin year-to-date.

• Returned CAD 2.6 billion to shareholders through dividends and share buybacks, entered the India life insurance market via a joint venture, and completed the largest acquisition in a decade with Comvest Credit Partners.

• Announced a third innovative long-term care transaction with limited impact on future earnings.

• Progress toward 18%+ core ROE by 2027 faces headwinds from disability experience in Canada, currency effects, and U.S. life variability, but remains achievable with continued growth in Asia and GWAM.

Asia business trends and growth drivers

• Asia segment delivered over 20% earnings growth, driven by aging populations, the rise of regional financial centers like Hong Kong and Singapore, and the emergence of third-party distribution channels.

• Hong Kong saw strong domestic and mainland Chinese demand, Japan doubled new business, and Singapore achieved nearly 40% new business CSM growth.

• Differentiation through superior distribution and AI-powered initiatives is key to winning market share beyond benefiting from regional mega trends.

Hong Kong and mainland Chinese visitor (MCV) business

• Hong Kong business is well-diversified, with about 25% of sales from mainland Chinese visitors, and remains resilient despite tax enforcement news, as structural demand drivers are intact.

• Demand is supported by access to USD-denominated products, diversified portfolios, generational wealth transfer, and product sophistication.