Manulife Has Been Notified Of An Unsolicited Mini-Tender Offer Made By New York Stock And Bond LLC To Purchase Up To 50K Manulife Common Shares At A Price Of $12.50 Per Share; Manulife Cautions Shareholders That The Mini-Tender Offer Has Been Made At A Price Below The Current Market Price For Manulife Shares

Manulife has been notified of an unsolicited mini-tender offer made by New York Stock and Bond LLC (New York Stock and Bond) to purchase up to 50,000 Manulife common shares, or less than 0.003% of the common shares outstanding, at a price of USD$12.50 per share.

Manulife is in no way associated with New York Stock and Bond and does not recommend or endorse acceptance of this unsolicited offer.

Manulife cautions shareholders that the mini-tender offer has been made at a price below the current market price for Manulife shares. The offer represents a discount of approximately 60.76% and 60.80%, respectively, below the closing prices of Manulife common shares on the TSX and NYSE on November 27, 2024, the last trading day before the mini-tender offer was commenced, and a discount of 61.43% and 61.42%, respectively, below the closing prices on the TSX and NYSE on December 6, 2024.

Mini-tender offers are designed to seek less than 5% of a company's outstanding shares, avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. The Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) have expressed serious concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.