Manulife Notified Of Unsolicited Mini‑Tender Offer By Ocehan To Purchase Up To 50,000 Shares At C$35.80 Per Share

C$ unless otherwise stated                                                  TSX/NYSE/PSE: MFC   SEHK: 945

TORONTO , Dec. 22, 2025 /CNW/ - Manulife has been notified of an unsolicited mini-tender offer made by Ocehan LLC (Ocehan) to purchase up to 50,000 Manulife common shares, or less than 0.003% of the common shares outstanding, at a price of $35.80 per share.

Manulife is in no way associated with Ocehan and does not recommend or endorse acceptance of this unsolicited offer.

Manulife cautions shareholders that the mini-tender offer has been made at a price below the current market price for Manulife shares. The offer represents a discount of approximately 24.88% and 24.67%, respectively, below the closing prices of Manulife common shares on the TSX and NYSE on November 19, 2025, the last trading day before the mini-tender offer was commenced, and a discount of 28.29% and 28.16%, respectively, below the closing prices on the TSX and NYSE on December 19, 2025.

Mini-tender offers are designed to seek less than 5% of a company's outstanding shares, avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. The Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) have expressed serious concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.