Manulife Financial Corporation, led by CEO Roy Gori, reported strong financial results with 2020 revenues of CAD 53.57 billion, and strategic priorities focused on portfolio optimization, expense efficiency, and digital transformation. The company adapted quickly to the COVID-19 pandemic by enhancing their digital capabilities and ensuring customer support while maintaining employee safety. Their commitment to building a high-performing team and achieving net-zero emissions reflects their long-term vision for sustainable growth and innovation.

1. Manulife Org Chart & Sales Intel Presentation

2. Business Information
Manulife Financial Corporation
200 Bloor Street East
NT 9
Toronto, ON M4W 1E5
Canada
Main Phone: 416-926-3000
Website URL: http://www.manulife.com
Ticker Symbol: (NYSE: MFC)
Industry Sector: Financial Services, Insurance
Full Time Employees: 37,000
CEO: Mr. Roy Gori, Pres, CEO & Director
2020 Annual Revenues: $53.57 Billion (CAD)
Fortune Global 500 Rank: #169 (2020)

3. Financial Snapshot
Fiscal Year Ends 31-Dec-20
Most Recent Quarter 30-Jun-21
Profitability
Profit Margin 12.75%
Operating Margin 17.65%
Management Effectiveness
Return on Assets 0.68%
Return on Equity 13.32%
Income Statement
Revenue 53.57B (CAD)
Revenue Per Share 27.59
Quarterly Revenue Growth -6.70%
Gross Profit 10.58B
EBITDA 9.85B
Net Income Avi to Common 7.09B
Diluted EPS 2.87
Quarterly Earnings Growth 260.80%
Balance Sheet
Total Cash 34.23B
Total Cash Per Share 17.63
Total Debt 21.29B
Total Debt/Equity 39.24
Book Value Per Share 25.34
Cash Flow Statement
Operating Cash Flow 20.75B
Manulife Auditor: Ernst & Young LLP

4. Financial Results

5. Annual Report Highlights
Five strategic priorities
Portfolio Optimization
We are actively managing our legacy businesses to improve returns and
cash generation while reducing risk.
Expense Efficiency
We are getting our cost structure into fighting shape and simplifying and
digitizing our processes to position us for efficient growth.
Accelerate Growth
We are accelerating growth in our highest-potential businesses.
Digital, Customer Leader
We are improving our customer experiences, using digitization and
innovation to put customers first.
High-Performing Team
We are building a culture that drives our priorities.

6. Annual Report Highlights
Manulife Values
Manulife values represent how they operate. They reflect their culture, inform their
behaviours, and help define how they work together.
Obsess about customers
We predict their needs and do everything in our power to satisfy them.
Do the right thing
We act with integrity and do what we say.
Think big
Anything is possible. We can always find a better way.
Get it done together
We’re surrounded by an amazing team. Do it better by working together.
Own it
We feel empowered to make decisions and take action to deliver our mission.
Share your humanity
We build a supportive, diverse, and thriving workplace.

7. Letter from the Chairman
John Cassaday
Chairman of the Board
"While the pandemic showed us how a global crisis can upend even the best laid plans, your Board’s top
priority was ensuring we could continue to provide oversight and guidance to the management team
virtually. We successfully leveraged technology to continue to interact with each other during our Board
sessions. We gathered ongoing director feedback to confirm that our effectiveness was not being
impacted and that all directors still felt their voices were being heard. While we will eventually meet again
in person, once it is safe to do so, we’ve also learned that there’s no need for every meeting to be in
person, and that avoiding lengthy travel could make us a more effective group without sacrificing the
connectedness that we currently value and enjoy."
"Two new directors joined the Board in 2020, each with expertise in areas critical to Manulife’s ongoing
growth. Nicole Arnaboldi, former Vice Chairman, Credit Suisse Asset Management, is an accomplished
financial services executive with a depth of critical wealth and asset management knowledge. Leagh
Turner, President and Chief Operating Officer at Ceridian HCM Holding Inc., brings extensive experience in
leadership, technology, and driving transformational change, and is a passionate supporter of diversity."
"We would also like to express our appreciation to Roy and the ELT for delivering a year of solid results
during the worst global crisis in recent history, all while continuing to go above and beyond for customers
and engaging and inspiring the team with values-driven leadership."

8. CEO Letter to Shareholders
"We were focused on implementing plans to build on our positive momentum and to continue our
transformation into the most digital, customer-centric global company in our industry. But when the
COVID-19 pandemic hit, our focus quickly shifted to two key objectives: ensuring the health and safety
of our team and supporting our customers, who needed us more than ever."
"As part of our digital transformation, we invested heavily in technology and services leading up to
2020. Our digital tools and contact centre teams were ready to help answer customers’ questions,
process claims, and provide prospective customers with information about products and solutions
remotely and quickly. We also accelerated the delivery of new digital capabilities to support virtual sales
and to enhance the overall customer and advisor experience, including new eForms and Virtual
Assistants."
"We also took this opportunity to accelerate our digital innovation efforts in many other areas of our
business, expanding automatic underwriting, introducing a new claims system for our group benefits
customers in Canada, further automating payments, and driving more straight-through processing. We
made many other changes in response to customer feedback to enhance their overall experience as
well. All these efforts contributed to a four-point increase in 2020 in our net promoter score, the
indicator of how likely a customer is to recommend our company to others."
"Leveraging our strong foundation The strategy we embarked on a few years ago gave us a strong
foundation to weather the extraordinary headwinds we faced last year. Thanks to the priority we had
placed on investing in our technology and digital infrastructure, and strong focus on business continuity
planning, when COVID-19 was declared a global pandemic in March, we were able to rapidly pivot to
having 95% of our global team working remotely."
Roy Gori President and
Chief Executive Officer

9. Global Office Locations

10. Earnings Call Highlights
Q2 2021 Earnings Call
Aug 6, 2021
Executives in Attendance
Hung Ko -- Vice President Treasury Finance
Roy Gori -- - President, Chief Executive Officer & Director
Phil Witherington -- Chief Financial Officer
Anil Wadhwani -- Chief Executive Officer & President of Manulife Asia
Paul Raymon Lorentz -- President and Chief Executive Officer of Global Wealth & Asset Management
Steven Andrew Finch -- Executive Vice President & Chief Actuary
Naveed Irshad -- Global Head of Inforce Management
Marianne Harrison -- - President & Chief Executive Officer of John Hancock
Comments from Roy Gori, CEO
"double-digit growth across a number of our key operating metrics compared with the prior year quarter. Turning
to slide six. We delivered record core earnings of $1.7 billion, an 18% increase from the prior year with double-digit
growth across our growth engines, Asia and Global WAM, and we reported net income of $2.6 billion. New business
value increased 57%, with strong contributions across all geographies, reflecting higher sales volume and more
favorable margins. Our expense efficiency ratio improved by 2.1 percentage points compared with the prior year"
"During the second quarter, we continued to make progress on our digital journey across all our operating
segments to better engage with our customers."
Roy Gori, CEO

11. Earnings Call Highlights
"In the U.S., we continue to enhance our digital underwriting capabilities by integrating our underwriting
decision engine with iPipeline, a leading provider of no code or low code content-based digital solutions to
accelerate the life insurance application process. This new approach will dramatically reduce the life
insurance sales cycle and offer a less intrusive way to collect medical history data with digital signatures. In
our Global WAM business, we launched a new retirement mobile app for all U.S. plan members. "
"Our final priority is around building a high-performing team. I believe the culture will be a sustainable
long-term competitive advantage and that only a highly engaged, high-performing team can consistently
exceed customer expectations and deliver superior results. Our target is to achieve top quartile employee
engagement compared to global financial services and insurance peers by 2022. And we're proud to have
achieved this ranking in 2020."
"Our objective of net zero focuses on three key areas: through our operations, we will substantially reduce
emissions to lessen our footprint; we'll actively invest for a sustainable future; with our products and
services we'll develop innovative solutions that contribute to climate change mitigation and resilience. To
conclude, we continue to demonstrate great progress against our strategic priorities. We're executing on
the next phase of our strategy with a greater focus on accelerating growth in our highest potential
businesses."
Roy Gori, CEO

12. Investor Presentation

13. Investor Presentation

14. Investor Presentation

15. Chief Financial Officer
Phil Witherington is Chief Financial Officer at Manulife. He is responsible for
managing Manulife’s financial affairs, including finance, accounting, capital,
treasury, taxation, investor relations, financial regulation, and for our property and
casualty reinsurance operations.
Prior to this appointment, he was the Interim President & Chief Executive Officer
Manulife Asia. Phil is a member of Manulife’s Executive Leadership Team.
Previously, Phil was Chief Financial Officer, Manulife Asia, leading transformational
change within the finance function in Asia and providing strong financial
leadership to business decisions by influencing divisional strategy and business
unit profitability, as well as leading financial due diligence of all merger and
acquisition opportunities.
Philip Witherington
Chief Financial Officer
Phone: (416) 926-3012
Email: philip_witherington@manulife.com

16. Chief Information Officer
Shamus Weiland is the Chief Information Officer for Manulife and is a member of
Manulife’s Executive Leadership Team.
In his role, Shamus is responsible for overseeing the Company’s Technology
function and aligning our Technology Strategy with our global businesses to
maximize value delivery while optimizing the technology footprint and costs in
order to achieve our goal to be a digital customer leader. Prior to joining Manulife,
Shamus was Managing Director, North America Consumer Technology Head at
Citigroup in support of retail bank, mortgage, commercial bank and credit cards.
Additionally, Shamus served as CIO for Citi’s consumer bank in Europe, Middle East
and Asia Pacific spanning 17 countries and he also led the global product
development function to deliver software and support services to all markets.
Shamus Weiland
Chief Information Officer
Phone: (416) 926-3000
Email: shamus_weiland@manulife.com

17. Chief Operations Officer
Rahul Joshi is Chief Operations Officer at Manulife. In this role, Mr. Joshi oversees the
Company’s global operations and global procurement organizations. He is a member of
the Company’s Executive Leadership Team.
Prior to joining Manulife, Rahul was the Senior Vice President of Customer Care for
Walmart’s US eCommerce organization, which included responsibility for contact
centers, fraud operations and the customer returns experience. Under his leadership,
the business significantly expanded customer contact channels through innovation,
improved fraud loss performance, and enhanced the returns experience for online
purchases, all during a period of high growth.
Previously, he held a range of large operating, customer experience and digital
transformation roles with Citi across several geographies. Rahul served as Chief
Operations Officer for the company’s Asia/EMEA Consumer bank located in Singapore,
and prior to that was Chief Operations Officer for the US Consumer and Commercial
bank.
Rahul Joshi
Chief Operations Officer
Phone: (416) 852-1355
Email: rahul_joshi@manulife.com

18. Manulife
Financial
Corporation
U.S.
Asia Canada Global WAM Corporate and Other
Corporate Structure

19. Roy Gori
President & CEO
James (Jim) Gallagher
General Counsel
Michael Doughty
President & CEO, Manulife
Canada
Steven Finch
Chief Actuary
Rahul Joshi
Chief Operations Officer
Marianne Harrison
President & CEO, John
Hancock
Scott Hartz
Chief Investment Officer
Rahim Hirji
Chief Risk Officer
Naveed Irshad
Global Head of Inforce
Management
Pamela Kimmet
Chief Human Resources
Officer
Karen Leggett
Chief Marketing Officer
Paul Lorentz
President & CEO, Global
Wealth and Asset
Management
Anil Wadhwani
President & CEO, Manulife
Asia
Shamus Weiland
Chief Information Officer
Philip Witherington
Chief Financial Officer
Manulife Executive
Leadership

20. John Cassaday
Chairman of the Board
Guy Bainbridge
Former partner with KPMG
LLP
Roy Gori
President & CEO of Manulife
Nicole Arnaboldi
Former senior executive at
Credit Suisse
Donald Lindsay
President and CEO of Teck
Resources Limited
Joseph Caron
Former Principal and
Founder of Joseph Caron
Incorporated
Susan Dabarno
Former President and Chief
Executive Officer of
Richardson Partners
Financial Limited
Julie Dickson
Former Superintendent of
Financial Institutions,
Canada
Tsun-yan Hsieh
Chairman of LinHart Group
PTE Ltd.
John Palmer
Former Chairman and a
founding director of the
Toronto Leadership Centre
Jim Prieur
Former Chief Executive
Officer and director of CNO
Financial Group, Inc.
Andrea Rosen
Former Vice Chair, TD Bank
Financial Group and
President of TD Canada
Trust
Leagh Turner
President and Chief
Operating Officer for
Ceridian HCM Holding Inc.
Manulife Board of
Directors Leadership

21. Marianne Harrison
President & CEO, John
Hancock
Emanuel Alves
General Counsel, John
Hancock
Kate Ardini
Chief Marketing Officer,
John Hancock
Andrew G. Arnott
President & CEO, John
Hancock Investment
Management
Ted Bruntrager
Chief Risk Officer, John
Hancock
Julie Law
Head of Human Resources,
John Hancock
Gwendolyn McCoy
Head of Diversity, Equity &
Inclusion, John Hancock
Anne McNally
Head of Communications &
Events, John Hancock
Sebastian Pariath
Head of Operations, Chief
Information Officer, John
Hancock
Susan P. Roberts
Head of Strategy &
Transformation, John
Hancock
Thomas E. Samoluk
Head of External Affairs &
Investigative Services, John
Hancock
Martin Sheerin
Chief Financial Officer, John
Hancock
Tony Teta
Head of US Legacy, John
Hancock
Brooks Tingle
President & CEO, John
Hancock Insurance
Executive Leadership

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