** Manulife Financial Corporation – SGD 10NC5 T2 Price Guidance 4.15% area ***

Issuer: Manulife Financial Corporation (MFC)
Instrument: Dated Subordinated (Tier 2) Callable Fixed-to-Fixed Rate Notes
Status of Notes: Direct, unsecured and subordinated indebtedness of the Issuer, ranking equally and rateably with all other subordinated indebtedness of the Issuer from time to time issued and outstanding (as described in the Offering Circular)
Issuer Ratings: A(stable) / A-(stable) (S&P / Fitch)
Expected Issue Ratings: A-(S&P)
Issue Currency / Size: SGD Benchmark
Tenor: 10-year Non-Call 5-year
Optional Redemption: The Notes may be redeemed at par on [ ] May 2021 (First Call Date) and every interest payment date thereafter, subject to regulatory approval and as described in the Offering Circular
Price Guidance: 4.15% area
Interest: Fixed rate payable semi-annually, single reset at First Call Date at relevant 5-year SGD Swap Rate plus the Initial Spread
Special Event Redemption: The Notes may be redeemed at par upon the occurrence of a Tax Event or at (a) the higher of par and a Make-Whole Amount prior to the First Call Date and (b) par thereafter on a Regulatory Event, subject to regulatory approval and as described in the Offering Circular
Denominations: SGD250,000
Listing / Docs: SGX-ST/ MFC’s Standalone Offering Circular dated 16 May 2016 and a Trust Indenture (as supplemented by a First Supplemental Indenture) to be dated the Settlement Date
Selling Restrictions: Regulation S Category 2; Sections 274 and 275 of the Securities and Futures Act (Cap. 289) of Singapore and as described in the Offering Circular
Form of the Notes: Registered
Governing law: Laws of the Province of Ontario and the laws of Canada applicable therein
Joint Lead Managers: DBS Bank Ltd. and Standard Chartered Bank
Co-Manager Australia and New Zealand Banking Group Ltd
B&D: Standard Chartered Bank
Timing: As early as today’s business