MFC Prices USD 750.00 Million 6.146% Subordinated Notes Due 2041 in U.S. Public Offering

Bulletin Express09-02

Manulife Financial Corporation (MFC) has priced a U.S. public offering of USD 750.00 million aggregate principal amount of subordinated notes maturing in 2041. The notes will be issued at 100% of par value and are expected to qualify as Tier 2 regulatory capital for the Toronto-based insurer and asset manager.

The securities are scheduled to be issued on 11 September 2026 and will carry a fixed 6.146% annual coupon until 11 September 2036 (the “Reset Date”). From the Reset Date to maturity on 11 September 2041, the interest rate will reset to the then-prevailing CMT Rate plus 1.350 percentage points, recalculated three business days before the Reset Date.

Redemption flexibility is embedded in the structure. With prior approval from the Office of the Superintendent of Financial Institutions (Canada), Manulife may redeem all or part of the notes at a make-whole price on or after 11 September 2031 and before the Reset Date. Full redemption at par (plus accrued interest) is also permitted on the Reset Date, within 90 days following a specified regulatory event, or after a specified tax event, subject to regulatory consent.

Net proceeds are earmarked for general corporate purposes, which may include future refinancing needs. BofA Securities, Citigroup, J.P. Morgan and Morgan Stanley act as joint book-running managers.

The offering is being made under a preliminary prospectus supplement dated 1 September 2026 to Manulife’s registration statement declared effective by the U.S. Securities and Exchange Commission on 29 September 2025.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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