CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
From time to time, Manulife makes written and/or oral forward-looking statements, including in this document. In
addition, our representatives may make forward-looking statements orally to analysts, investors, the media and
others. All such statements are made pursuant to the “safe harbour” provisions of Canadian provincial securities
laws and the U.S. Private Securities Litigation Reform Act of 1995.
The forward-looking statements in this document include, but are not limited to, statements with respect to our
ability to achieve our medium-term financial and operating targets, and also relate to, among other things, our
objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be
identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “suspect”, “outlook”,
“expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “forecast”, “objective”, “seek”, “aim”, “continue”, “goal”,
“restore”, “embark” and “endeavour” (or the negative thereof) and words and expressions of similar import, and
include statements concerning possible or assumed future results. Although we believe that the expectations
reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and
undue reliance should not be placed on such statements and they should not be interpreted as confirming market
or analysts’ expectations in any way.
Certain material factors or assumptions are applied in making forward-looking statements and actual results may
differ materially from those expressed or implied in such statements.
Important factors that could cause actual results to differ materially from expectations include but are not limited
to: general business and economic conditions (including but not limited to the performance, volatility and
correlation of equity markets, interest rates, credit and swap spreads, inflation rates, currency rates, investment
losses and defaults, market liquidity and creditworthiness of guarantors, reinsurers and counterparties); the
ongoing prevalence of COVID-19, including any variants, as well as actions that have been, or may be taken by
governmental authorities in response to COVID-19, including the impacts of any variants; changes in laws and
regulations; changes in accounting standards applicable in any of the territories in which we operate; changes in
regulatory capital requirements; our ability to obtain premium rate increases on in-force policies; our ability to
execute strategic plans and changes to strategic plans; downgrades in our financial strength or credit ratings; our
ability to maintain our reputation; impairments of goodwill or intangible assets or the establishment of provisions
against future tax assets; the accuracy of estimates relating to morbidity, mortality and policyholder behaviour; the
accuracy of other estimates used in applying accounting policies, actuarial methods and embedded value
methods; our ability to implement effective hedging strategies and unforeseen consequences arising from such
strategies; our ability to source appropriate assets to back our long-dated liabilities; level of competition and
consolidation; our ability to market and distribute products through current and future distribution channels;
unforeseen liabilities or asset impairments arising from acquisitions and dispositions of businesses; the realization
of losses arising from the sale of investments classified fair value through other comprehensive income; our
liquidity, including the availability of financing to satisfy existing financial liabilities on expected maturity dates
when required; obligations to pledge additional collateral; the availability of letters of credit to provide capital
management flexibility; accuracy of information received from counterparties and the ability of counterparties to
meet their obligations; the availability, affordability and adequacy of reinsurance; legal and regulatory
proceedings, including tax audits, tax litigation or similar proceedings; our ability to adapt products and services to
the changing market; our ability to attract and retain key executives, employees and agents; the appropriate use
and interpretation of complex models or deficiencies in models used; political, legal, operational and other risks
associated with our non-North American operations; geopolitical uncertainty, including international conflicts;
acquisitions and our ability to complete acquisitions including the availability of equity and debt financing for this
purpose; the disruption of or changes to key elements of the Company’s or public infrastructure systems;
environmental concerns, including climate change; our ability to protect our intellectual property and exposure to
claims of infringement; and our inability to withdraw cash from subsidiaries.
Additional information about material risk factors that could cause actual results to differ materially from
expectations and about material factors or assumptions applied in making forward-looking statements may be
found under “Risk Management and Risk Factors” and “Critical Actuarial and Accounting Policies” in the
Management’s Discussion and Analysis in our most recent annual report, under “Risk Management and Risk
Factors Update” and “Critical Actuarial and Accounting Policies” in the Management’s Discussion and Analysis in
our most recent interim report, and in the “Risk Management” note to the Consolidated Financial Statements in our
most recent annual and interim reports, as well as elsewhere in our filings with Canadian and U.S. securities
regulators.
The forward-looking statements in this document are, unless otherwise indicated, stated as of the date hereof and
are presented for the purpose of assisting investors and others in understanding our financial position and results
of operations, our future operations, as well as our objectives and strategic priorities, and may not be appropriate
for other purposes. We do not undertake to update any forward-looking statements, except as required by law.
