The new site will become a talent training hub to meet the needs of the public

MACAU, MAY 14, 2024/NEWS/-- MANULIFE ANNOUNCED A MAJOR MILESTONE IN ITS BUSINESS EXPANSION PLAN IN MACAU BY PARTNERING WITH YOHO GROUP OF MACAU TO SIGN A MULTI-YEAR LEASE AGREEMENT TO LEASE OVER 64,000 SQ FT OF PREMIUM FLOOR SPACE UNDER YOHO GROUP. This strategic move will help Manulife further strengthen its position as a leader in Macao's financial services industry and meet the growing insurance needs of Macao customers and Mainland clients visiting Macau.

Life insurance penetration rate in Macau is 9.0% in 2023^[1], coupled with an ageing population, highlights Macau's pressing need for insurance and retirement protection. Manulife's new leased premises will play a key role in helping the company meet its potential insurance needs in Macau. With improved customer service and training facilities, the new location will be an important hub for Manulife's training and expansion of its Macao distribution team. This significant investment reflects Manulife's active drive for Macao's long-term economic and talent development, but also responds to the implementation of the Macao SAR Government's multi-managed Diversified Economic Development Strategy.

Pak Kai Wing, Chief Executive Officer, Manulife Hong Kong and Macau(Patrick Graham)SAID: “WE ARE DELIGHTED TO HAVE SIGNED A MULTI-YEAR PARTNERSHIP AND LEASE AGREEMENT WITH YOHO GROUP, WHICH IS AN IMPORTANT PART OF OUR MACAU BUSINESS EXPANSION STRATEGY. As Macau plays an increasingly important role in the overall development of the Greater Bay Area, this partnership has enabled us to expand our business in Macau and beyond, setting a milestone for Manulife's business growth and helping us to further our goal of recruiting agents. In addition, this partnership demonstrates Manulife's strong financial strength and commitment to continuing to cultivate Macau's outstanding employees, grow its agent team, and expand other distribution channels.”

A major feature of Manulife's new location is its 7,000 feet of lake-view platforms that can be used to serve and receive customers. In addition, the new site will feature state-of-the-art banquet and training facilities for Manulife. Manulife's branding will be displayed in the lobby, and a customer service counter will be available to welcome visitors and customers. The leased premises will be delivered to Manulife in May 2024 and is expected to be fully serviced in November 2024.

YOHOYan-Wei Lin, Group Executive DirectorSaid: “We are delighted to be partnering with Manulife. For us, this partnership means that we can move forward with trusted and reputable partners. We believe this partnership will drive innovation, drive business growth and create win-win opportunities. “We look forward to starting with Manulife to forge a new path together and create great achievements together.”

YOHO GROUP IS PRIMARILY ENGAGED IN PROPERTY DEVELOPMENT IN MACAU. ONE OF THE GROUP'S LATEST PROJECTS IS THE GOLDEN ISLAND RESORT WORLD HOTEL, A NEW DEVELOPMENT LOCATED IN THE HEART OF THE MACAU PENINSULA, FEATURING A FIVE-STAR LUXURY HOTEL, A 400,000-FOOT SHOPPING MALL AND OTHER PREMIUM FLOORS.

With a 27-year history in Macau since 1996, Manulife has become a trusted partner for personal and corporate clients, providing customers with a diverse range of health, insurance, and insurance products and services.

Manulife Hong Kong Overview

Manulife has been operating in Hong Kong for more than 125 years and has been trusted for many years. Since its opening in Asia in 1897, Manulife has grown to become one of Hong Kong's leading financial services institutions, providing a diverse range of protection and wealth management products and services to more than 250 million customers in Hong Kong and Macau. We are committed to helping our customers easily make informed choices and achieve great lives.

Manulife Hong Kong owns Manulife Insurance (International) Limited, Manulife Investment Management (Hong Kong) Limited and Manulife Capital Trust Limited through Manulife International Holdings Limited.

Manulife Overview

Manulife Financial Limited is the world's leading provider of financial services dedicated to helping the public make informed choices easily and achieve a better life. Our global headquarters in Toronto, Canada, operate under the name “Manulife” in Canada, Asia and Europe, and primarily under the name “Hang Kang” in the United States, provide financial advice and insurance solutions. Through its global wealth and asset management division, Manulife Investment Management, the Company provides services to individual clients, institutional clients and retirement plan members worldwide. As of the end of 2023, we have more than 38,000 employees, 98,000 agents, and thousands of sales partners serving more than 3,500 million customers. The Company is listed on the Mercantile Exchange under the ticker symbol MFC and on the Hong Kong Stock Exchange under the stock code 945.

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