Manulife Announces Exercise of Over-Allotment Option on Preferred Share Offering

Toronto—(PHStocks)—Manulife Financial Corp. (PSE: MFC) has announced that, in connection with its recently announced offering of 16 million Non-cumulative Rate Reset Class 1 Shares Series 21 (the Series 21 Preferred Shares), the underwriters have exercised their option to purchase an additional 1 million Series 21 Preferred Shares at a price of $25 per share to raise gross proceeds of $25 million, increasing the total size of the offering to $425 million. Closing of the Over-Allotment Option is expected to occur on or about 3 March 2016.

The Series 21 Preferred Shares, including the Series 21 Preferred Shares issuable upon the exercise of the Over-Allotment Option, were issued under a prospectus supplement dated February 18, 2016 to Manulife’s short form base shelf prospectus dated 17 December 2015.

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