Manulife Financial Corporation announces Conversion Privilege of Non-cumulative Rate Reset Class 1 Shares Series 19

Core Viewpoint - Manulife Financial Corporation announced it will not redeem its Series 19 Preferred Shares on March 19, 2025, allowing holders to convert them into Series 20 Preferred Shares under certain conditions [1][2]. Group 1: Conversion Rights and Conditions - Holders of Series 19 Preferred Shares can convert them into Series 20 Preferred Shares on a one-for-one basis on March 19, 2025 [1]. - If there are fewer than 1,000,000 Series 19 Preferred Shares outstanding after March 4, 2025, all remaining Series 19 Preferred Shares will automatically convert into Series 20 Preferred Shares [2]. - Conversely, if there are fewer than 1,000,000 Series 20 Preferred Shares outstanding after March 4, 2025, no Series 19 Preferred Shares will be converted [2]. Group 2: Dividend Rates - The dividend rates for Series 19 Preferred Shares for the period from March 20, 2025, to March 19, 2030, and for Series 20 Preferred Shares for the period from March 20, 2025, to June 19, 2025, will be announced on February 18, 2025 [3]. Group 3: Redemption and Listing - Manulife may redeem Series 19 Preferred Shares on March 19, 2030, and every five years thereafter, and may redeem Series 20 Preferred Shares after March 19, 2025 [5]. - The Toronto Stock Exchange has conditionally approved the listing of Series 20 Preferred Shares, pending fulfillment of listing requirements [6]. Group 4: Company Overview - Manulife Financial Corporation is a leading international financial services provider, operating under the Manulife brand in Canada, Asia, and Europe, and as John Hancock in the United States [8][9]. - The company serves over 35 million customers globally and trades as 'MFC' on multiple stock exchanges [9].