Gross flows is a new business measure presented for our Global WAM business and includes all deposits into
mutual funds, group pension/retirement savings products, private wealth and institutional asset management
products. Gross flows is a common industry metric for WAM businesses as it provides a measure of how
successful the businesses are at attracting assets.
Net flows is presented for our Global WAM business and includes gross flows less redemptions for mutual funds,
group pension/retirement savings products, private wealth and institutional asset management products. In
addition, net flows include the net flows of exchange traded funds and non-proprietary products sold by Manulife
Securities. Net flows is a common industry metric for WAM businesses as it provides a measure of how successful
the businesses are at attracting and retaining assets. When net flows are positive, they are referred to as net
inflows. Conversely, negative net flows are referred to as net outflows.
Remittances is defined as the cash remitted or made available for distribution to Manulife Financial Corporation
from its subsidiaries. It is a key metric used by management to evaluate our financial flexibility.
E4Caution regarding forward-looking statements
From time to time, MFC makes written and/or oral forward-looking statements, including in this document. In
addition, our representatives may make forward-looking statements orally to analysts, investors, the media and
others. All such statements are made pursuant to the “safe harbour” provisions of Canadian provincial securities
laws and the U.S. Private Securities Litigation Reform Act of 1995.
The forward-looking statements in this document include, but are not limited to, statements about our ability to
achieve our medium-term financial and operating targets, our strategic priorities and targets, planned share
buybacks, the impact of changes in tax laws, the probability and impact of LICAT scenario switches, and strategic
and products risks and also relate to, among other things, our objectives, goals, strategies, intentions, plans,
beliefs, expectations and estimates, and can generally be identified by the use of words such as “may”, “will”,
“could”, “should”, “would”, “likely”, “suspect”, “outlook”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”,
“forecast”, “objective”, “seek”, “aim”, “continue”, “goal”, “restore”, “embark” and “endeavour” (or the negative
thereof) and words and expressions of similar import, and include statements concerning possible or assumed
future results. Although we believe that the expectations reflected in such forward-looking statements are
reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such
statements and they should not be interpreted as confirming market or analysts’ expectations in any way.
Certain material factors or assumptions are applied in making forward-looking statements and actual results may
differ materially from those expressed or implied in such statements. Important factors that could cause actual
results to differ materially from expectations include but are not limited to: general business and economic
conditions (including but not limited to the performance, volatility and correlation of equity markets, interest rates,
credit and swap spreads, inflation rates, currency rates, investment losses and defaults, market liquidity and
creditworthiness of guarantors, reinsurers and counterparties); the ongoing prevalence of COVID-19, including any
variants, as well as actions that have been, or may be taken by governmental authorities in response to
COVID-19, including the impacts of any variants; changes in laws and regulations; changes in accounting
standards applicable in any of the territories in which we operate; changes in regulatory capital requirements; our
ability to obtain premium rate increases on in-force policies; our ability to execute strategic plans and changes to
strategic plans; downgrades in our financial strength or credit ratings; our ability to maintain our reputation;
impairments of goodwill or intangible assets or the establishment of provisions against future tax assets; the
accuracy of estimates relating to morbidity, mortality and policyholder behaviour; the accuracy of other estimates
used in applying accounting policies, actuarial methods and embedded value methods; our ability to implement
effective hedging strategies and unforeseen consequences arising from such strategies; our ability to source
appropriate assets to back our long-dated liabilities; level of competition and consolidation; our ability to market
and distribute products through current and future distribution channels; unforeseen liabilities or asset impairments
arising from acquisitions and dispositions of businesses; the realization of losses arising from the sale of
investments classified as FVOCI; our liquidity, including the availability of financing to satisfy existing financial
liabilities on expected maturity dates when required; obligations to pledge additional collateral; the availability of
letters of credit to provide capital management flexibility; accuracy of information received from counterparties and
the ability of counterparties to meet their obligations; the availability, affordability and adequacy of reinsurance;
