Manulife Financial Corporation announces results of Conversion Privilege of Non-cumulative Rate Reset Class 1 Shares Series 11

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TORONTO, March 7, 2023 /CNW/ - Manulife Financial Corporation ("Manulife") today announced that after having taken into account all election notices received by the March 6, 2023 deadline for conversion of its currently outstanding 8,000,000 Non-cumulative Rate Reset Class 1 Shares Series 11 (the "Series 11 Preferred Shares") (TSX:MFC-PR-J.TO) into Non-cumulative Floating Rate Class 1 Shares Series 12 of Manulife (the "Series 12 Preferred Shares"), the holders of Series 11 Preferred Shares are not entitled to convert their Series 11 Preferred Shares into Series 12 Preferred Shares. There were 117,415 Series 11 Preferred Shares elected for conversion, which is less than the minimum one million shares required to give effect to conversions into Series 12 Preferred Shares.