Manulife Financial Corporation · TSX:MFC
Manulife Financial — Investor Presentation (November 2025)
18 slides from Manulife Financial's investor presentation, Nov 12, 2025
Slide 1: Delivering sustainable long-term growth
Delivering sustainable long-term growth Phil Witherington, President and CEO November 12, 2025
Slide 2: Caution regarding forward-looking statements
Certain material factors or assumptions are applied in making political, legal, operational and other risks associated with our Caution regarding forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Important factors operations; geop
Slide 3: Key Messages
Key Messages • Refreshing our strategy and leveraging our strong foundation in a fast-changing environment • New and elevated strategic priorities will support our ambition of being the #1 choice for customers • Asia and Global WAM remain compelling growth opportunities • Will invest to grow in Cana
Slide 4: Trends Informing our Strategy
Trends Informing our Strategy Operating environment is changing rapidly, and we are well-positioned to capitalize on the opportunities Fast-changing macro environment requires us to continue to adapt our strategy Shifting geopolitical and Customer digital expectations rapidly Increased competition o
Slide 5: Refreshed Strategy
Refreshed Strategy Our refreshed strategic priorities build on our strong foundation and support our ambition of being the #1 choice for customers Purpose: Decisions made easier. Lives made better. | Ambition: Be the #1 choice for customers. STRATEGIC PRIORITIES Winning Team Diversified Business Emp
Slide 6: Empowering Customer Health, Wealth, and Longevity
Empowering Customer Health, Wealth, and Longevity Health, wealth and longevity trends provide opportunity to further drive positive customer outcomes As the global population An aging population faces rising Health priorities: lives longer, there’s a rising healthcare costs as insurance • Asia: driv
Slide 7: Diversified Business Portfolio
Diversified Business Portfolio We have an operating presence in ~60% of the expected global insurance market and are further expanding and diversifying to capture a high-growth opportunity World’s mega-economies1 are Our operating markets form a Entering India through a JV expected to continue growi
Slide 8: Superior Distribution
Diversified Business Portfolio Superior Distribution Making strategic organic investments in high-growth markets, fueling future growth, superior distribution and providing for a sustained diversified portfolio Asia Canada U.S. Global WAM Deliver distribution excellence and Building on our momentum
Slide 9: AI-powered Organization
AI-powered Organization As a market leader in AI, we are delivering significant value today Augmentation Transformation Disruption Accelerate existing work Scale transformation Pioneer new products, and will continue to by transforming to with new data sources, capture untapped drive growth through
Slide 10: Agentic AI Platform emphasizing scalability, reusability, and automated controls
AI-powered Organization As an AI-powered Organization, Manulife’s proprietary Agentic AI Platform will emphasize scalability, reusability, and automated controls AI Platform Layers Interface The platform’s interaction layer Our secure platform will cater to a wide range of (Applications, API’s, Chat
Slide 11: Cash Generation
Cash Generation Strong capital and cash generation will enable the execution of our strategy Strong history of remittances1… …enabled by robust cash generation, providing ample flexibility for (C$ billions) capital deployment 7.0 6.0 Inforce optimization: 5.5 Potential incremental capital release ~5
Slide 12: Demonstrated capabilities in strategically targeting M&A to drive growth
Diversified Business Portfolio Demonstrated capabilities in strategically targeting M&A to drive growth Extended our exclusive Acquired a multi-sector Acquired a leading middle- Agreed to acquire Schroders’ Philippines bancassurance alternative credit manager market direct lending private Indonesian
Slide 13: 2027 Targets
2027 Targets Making strong progress towards 2027 targets and execution against refreshed strategy will drive further momentum Core ROE 18%+ 3Q25 YTD 2027 targets 16.2% 16.2% Core ROE1 16.2% 18%+ Remittances2 N/A $22B+ cumulative Core earnings 2024 3Q25 Profit Share 2027 contribution from Asia 47% 50
Slide 14: Sustaining a globally balanced portfolio
Diversified Business Portfolio Successfully executing our strategic priorities will sustain a globally balanced portfolio Compelling growth opportunities in Asia and Global …which will drive long-term growth and sustain a WAM; will invest to further scale Canada and the U.S… balanced and diversified
Slide 15: Key Takeaways
Key Takeaways • Refreshing our strategy and leveraging our strong foundation in a fast-changing environment • New and elevated strategic priorities will support our ambition of being the #1 choice for customers • Asia and Global WAM remain compelling growth opportunities • Will invest to grow in Can
Slide 16: Non-GAAP and other financial measures
Non-GAAP and other Other specified financial measures include remittances. For more information on the non-GAAP and other financial financial measures measures in this document, please see “Non-GAAP and Other Financial Measures” of the 3Q25 and 2024 MD&A which are incorporated by reference and avail
Slide 17: Footnotes
Footnotes Slide Footnote 1 Source: United Nations, Data Portal Population Division, accessed October 2025. 6 2 Source: Peterson-KFF, How much is health spending expected to grow? (October 2025). 1 Reflects management’s assessment and views of expected future growth (based on expected increase in pop
Slide 18: Manulife
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