Toronto – Manulife (TSX: MFC) was selected as one of Corporate Knights' Best 50 Corporate Citizens in Canada for the third consecutive year, as the firm continues its commitments outlined in its Impact Agenda to empower sustained health and well-being, drive inclusive economic opportunities, and accelerate a sustainable future.

Corporate Knights' ranking of the world's best 50 Canadian corporate citizens is based on a rigorous assessment of all publicly traded, privately owned, and Crown corporations in Canada with more than $1 billion in gross annual revenue across 25 key performance indicators such as resource management, employee management, financial management, clean revenue and clean investment, and supplier performance. For 2023, Manulife ranked within approximately the top 2 percent of its Financials and Insurance Global Industry Classification Standard (GICS) sector and industry peer groups, respectively.

"The needs of our customers, our communities, and our environment continue to evolve, and we are taking action by building a better business to better the world," said Sarah Chapman, Global Chief Sustainability Officer for Manulife. "We are honoured to be recognized as one of Corporate Knights' leaders on sustainable investments and revenues, as we seek to deliver products and services that improve health outcomes and provide financial security for our stakeholders."

Manulife received a top-quartile score in the Sustainable Revenue category, with a portfolio of $68.6 billion in green investments company-wide¹, in addition to an innovative behavioural insurance platform. Through Manulife's Climate Action Plan, it has committed to a net zero General Account investment portfolio by 2050, growing a portfolio of green investments, and reducing scope 1 and 2 emissions 40% by 2035, on an absolute basis, relative to a 2019 baseline².

It also earned top-quartile scores in three other categories: Non-male Board; Racial Diversity on the Board; and Racial Diversity Among Executives. For 2022, 64% of the independent directors on Manulife's Board self-identified as women³ and 27% of the independent directors on the Board self-identified as members of a visible minority⁴. Manulife's full scorecard is available on the Corporate Knights website.

Visit Manulife.com/sustainability to learn more about the firm's Impact Agenda and to read its 2022 Environmental, Social, and Governance (ESG) Report.

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.

For further information: Media Contact, Luke Shane, Manulife, +1-857-206-2351, lshane@jhancock.com

^{1 Private debt and equity investments, public securities excluded with the exception of several green bond investments.}

^{2 Our 2019 baseline year reflects a typical year for our operations. The COVID-19 pandemic resulted in a remote work scenario across our operations, as such our 2020 emissions are not representative of a typical year.}

^{3 Data as of February 28, 2023.}

^{4 As defined by the Employment Equity Act (Canada). Data as of February 28, 2023.}