<SEC-DOCUMENT>0001086888-17-000033.txt : 20170224
<SEC-HEADER>0001086888-17-000033.hdr.sgml : 20170224
<ACCEPTANCE-DATETIME>20170224095454
ACCESSION NUMBER:		0001086888-17-000033
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170224
FILED AS OF DATE:		20170224
DATE AS OF CHANGE:		20170224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MANULIFE FINANCIAL CORP
		CENTRAL INDEX KEY:			0001086888
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				889897526
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14942
		FILM NUMBER:		17635088

	BUSINESS ADDRESS:	
		STREET 1:		200 BLOOR ST EAST, NT-10
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4W1E5
		BUSINESS PHONE:		416-926-3000

	MAIL ADDRESS:	
		STREET 1:		200 BLOOR ST EAST, NT-10
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4W1E5
</SEC-HEADER>
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<div style="TEXT-ALIGN: center; FONT: bold 14pt/11.4pt 'Times New Roman', serif">UNITED STATES</div>

<div style="TEXT-ALIGN: center; FONT: bold 14pt/11.4pt 'Times New Roman', serif">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT: bold 12pt/13.7pt 'Times New Roman', serif">Washington, D.C. 20549</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE </div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">SECURITIES EXCHANGE ACT OF 1934</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">For the month of <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt"><u>February 2017</u></font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Commission File Number&#160;1-14942</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">200 Bloor Street East,</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">The document contained in Exhibit 99.1 of this Form 6-K is incorporated by reference in the Registration Statement on Form F-10 (Registration No. 333-208442) filed by the registrant with the Securities and Exchange Commission.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">The following documents, filed as exhibits to this Form 6-K, are incorporated by reference as part of this Form 6-K:</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">First Supplemental Indenture, dated as of February 24, 2017, among Manulife Financial Corporation, The Bank of New York Mellon and BNY Trust Company of Canada</div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>

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<div style="TEXT-ALIGN: left; FONT: bold 14pt/13.7pt 'Times New Roman', serif">MANULIFE FINANCIAL CORPORATION</div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt"><u>By:&#160;&#160;&#160;&#160;&#160; &#160; /s/ Kay Song&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</u></div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Name:&#160;&#160; Kay Song</div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">First Supplemental Indenture, dated as of February 24, 2017, among Manulife Financial Corporation, The Bank of New York Mellon and BNY Trust Company of Canada</div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
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<DESCRIPTION>EXHIBIT99-1-24FEB2017-USA-1STSUPPLINDENTURE
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<div style="TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">EXECUTION VERSION</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">FIRST SUPPLEMENTAL INDENTURE</font>, dated as of February 24, 2017 (the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>First Supplemental Indenture</u></font>"), among <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">MANULIFE FINANCIAL CORPORATION</font>, a corporation duly organized and existing under the Insurance Companies Act (Canada) (the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>Company</u></font>"), having its principal office at 200 Bloor Street East, Toronto, Ontario M4W 1E5, <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">THE BANK OF NEW YORK MELLON</font>, a New York banking corporation, as trustee (hereinafter called the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>U.S. Trustee</u></font>"), and <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">BNY </font><font style="FONT-FAMILY: 'Times New Roman Bold', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">TRUST COMPANY OF CANADA</font>, a trust company organized under the laws of Canada, as Canadian Trustee (hereinafter called the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>Canadian Trustee</u></font>" and, together with the U.S. Trustee, the "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>Trustees</u></font>" and each, a "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>Trustee</u></font>").</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 6pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 6pt; FONT-SIZE: 11pt">WHEREAS, in connection with the issuance of the Notes, the Company has duly authorized the execution and delivery of this First Supplemental Indenture to establish the forms and terms of the Notes as hereinafter described; and</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt">WHEREAS, all conditions and requirements of the Base Indenture necessary to make this First Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed and fulfilled by the parties hereto.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt">NOW, THEREFORE, for and in consideration of the premises and other good and valuable consideration, receipt of which is hereby acknowledged by the parties hereto, the parties hereto agree, as follows:</div>

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</font> DEFINITIONS</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt">Company) to the Company at approximately 11:00 a.m. (New York time) on the Reset Interest Determination Date. If at least three quotations are provided, the 5-Year Mid-Swap Rate will be the arithmetic mean of the quotations calculated by the Company, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two quotations are provided, the 5-Year Mid-Swap Rate will be the arithmetic mean calculated by the Company of the quotations provided. If only one quotation is provided, the 5-Year Mid-Swap Rate will be the quotation provided. If no quotations are provided, the 5-Year Mid-Swap Rate shall be equal to the last available 5-year semi-annual mid-swap rate on the Reset Screen Page.</div>

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</font> THE NOTES</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; MARGIN-BOTTOM: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Section 2.02</font><font style="WIDTH: 72pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold"><u>Limitation of Aggregate Principal Amount</u></font><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">.</font>&#160; The aggregate principal amount of the Notes shall initially be limited to U.S.$750,000,000 (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, Notes pursuant to Sections 304, 305, 306, 906 or 1108 of the Base Indenture and except for any Securities which, pursuant to Section 303 of the Base Indenture, are deemed never to have been authenticated and delivered thereunder).&#160; The Company may, from time to time, without the consent of the Holders of the Notes, create and issue additional notes having the same terms and conditions as the Notes in all respects or in all respects except for issue date, issue price and, if applicable, the first date on which interest accrues and the first payment of interest thereon ("<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>Additional Notes</u></font>").&#160; Additional Notes issued in this manner may be consolidated with, and form a single series with, the Notes.&#160; The Notes and any such Additional Notes would rank equally and ratably. Any Additional Notes must be treated as fungible with the Notes for U.S. federal income tax purposes <font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">or be identified by a separate CUSIP number</font>.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; MARGIN-BOTTOM: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Section 2.04</font><font style="WIDTH: 72pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold"><u>Interest and Interest Rates</u></font><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">.</font>&#160; Interest on the Notes shall be paid semi-annually in arrears on February 24 and August 24 of each year (each such date, an "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>Interest Payment Date</u></font>"), commencing August 24, 2017.&#160; The Notes shall bear interest from and including the Original Issue Date, or from the most recent Interest Payment Date to which interest has been paid or duly provided for<font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">:</font></font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt">The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of interest payable for any period shorter than a full interest period shall be computed on the basis of a 360-day year consisting of twelve 30-day months and the actual number of calendar days elapsed in a partial month in such period. Any payment of principal, premium or interest required to be made on an Interest Payment Date that is not a Business Day will be made on the next succeeding Business Day, and no interest will accrue on that payment for the period from and after the Interest Payment Date to the date of payment on the next succeeding Business Day.&#160; The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name the Notes (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the person in whose name the Notes (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustees, notice whereof shall be given to Holders not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; MARGIN-BOTTOM: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Section 2.05</font><font style="WIDTH: 72pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold"><u>Place of Payment</u></font><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">.</font>&#160; The Place of Payment where the Notes may be presented or surrendered for payment, where the Notes may be surrendered for registration of transfer or exchange and where notices and demand to or upon the Company in respect of the Notes and the Indenture may be served initially shall be the Corporate Trust Office of the U.S. Trustee in the Borough of Manhattan, City of New York.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; MARGIN-BOTTOM: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">(b)</font><font style="WIDTH: 54pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">if a Regulatory Event has occurred, at any time within 90 days following such Regulatory Event, on not less than 30 nor more than 60 days' prior written notice to the applicable Holder, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date; and</font></div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt">A "<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>Regulatory Event</u></font>" shall be deemed to have occurred on the date specified in a letter from the Superintendent to the Company on which the Notes will no longer be recognized in full as eligible Tier 2 Capital of the Company or included as risk-based Total Available Capital on a consolidated basis, such date falling on a day on or after the Original Issue Date; <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><u>provided</u></font> that any such non-recognition or non-inclusion solely by virtue of (i) the Company issuing securities with an aggregate principal amount up to or in excess of the limit of Tier 2 Capital permitted from time to time by OSFI or (ii) any discounting requirements as to the eligibility of the Notes for such inclusion pursuant to the relevant requirements issued by OSFI, shall in each case be excluded.</div>

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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">the Company shall have received an Opinion of Counsel that a Tax Event has occurred;</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">the Company shall have delivered to the Trustees an Officers' Certificate stating that the Company is entitled to redeem such Notes pursuant to the terms of such Notes; and</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">there occurs any change (including any announced prospective change) in or amendment to the laws or treaties (or any rules, regulations, rulings or administrative pronouncements thereunder) of Canada or of any political subdivision or taxing authority thereof or therein affecting taxation, or any change in official position regarding the application or interpretation of such laws, treaties, rules, regulations, rulings or administrative pronouncements (including a holding by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the Original Issue Date; or</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">on or after the date of the Original Issue Date, any action has been taken by any taxing authority of, or any decision has been rendered by a court of competent jurisdiction in, Canada or any political subdivision or taxing authority thereof or therein, including any of those actions specified in the paragraph immediately above, whether or not such action was taken or decision was rendered with respect to the Company, or any change, amendment, application or interpretation shall be officially proposed;</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">the Company has become or would become obligated to pay, on the next date on which any amount would be payable with respect to any such Notes, any Additional Amounts; or</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">the Company is, or may be, subject to more than a <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">de minimis</font> amount of additional taxes, duties or other governmental charges or civil liabilities or any reduction in any loss, credit, reserve or other tax attribute because the treatment of any of its items of income, taxable income, expense, taxable capital or taxable paid up capital with respect to the Notes (including the treatment by the Company of interest on the Notes) or the treatment of the&#160;Notes, as or as would be reflected in any tax return or form filed, to be filed, or otherwise could have been filed, will not be respected by a taxing authority.</div>
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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">(FORM OF FACE OF NOTE)</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">[THIS NOTE IS IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. EVERY NOTE AUTHENTICATED AND DELIVERED UPON REGISTRATION OF, OR IN EXCHANGE FOR, OR IN LIEU OF, THIS NOTE WILL BE IN GLOBAL FORM, SUBJECT TO THE FOREGOING.</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">MANULIFE FINANCIAL CORPORATION</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">4.061% Subordinated Notes due 2032</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">CUSIP: <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11.5pt">56501R AE6</font></div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">August 24, 2017, from, and including, February 24, 2017 (the "Original Issue Date"), or from the most recent Interest Payment Date to which interest has been paid or duly provided for, </font>(i) a<font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">t the rate of </font>4.061% per year for the period from, and including, the Original Issue Date, to, but excluding, February 24, 2027 (the "Reset Date"), or until the principal hereof is paid or duly provided for or made available for payment, and (ii) at a rate per year equal to the 5-Year Mid-Swap Rate (as such term is defined on the reverse hereof) plus 1.647% for the period from, and including, the Reset Date, to, but excluding, February 24, 2032, or until the principal hereof is paid or duly provided for or made available for payment<font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">Any payment of principal, premium or interest required to be made on an Interest Payment Date that is not a Business Day will be made on the next succeeding Business Day, and no interest will accrue on that payment for the period from and after the Interest Payment Date to the date of payment on the next succeeding Business Day.&#160; "Business Day" shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York, New York, Toronto, Ontario, the Corporate Trust Office or any Place of Payment are authorized or obligated by law or executive order to close.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the February 10 or August 10 (whether or not a Business Day) next preceding such Interest Payment Date.&#160; Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the U.S. Trustee, notice whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; TEXT-INDENT: 180pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">The Bank of New York Mellon, as U.S. Trustee</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">This Note is one of a duly authorized issue of securities of the Company (herein called the "Notes"), issued and to be issued in one or more series under a Subordinated Indenture, dated as of February 21, 2017 (the "Indenture"), among the Company, The Bank of New York Mellon, as U.S. Trustee (herein called the "U.S. Trustee"), and BNY Trust Company of Canada (</font>herein called the "Canadian Trustee" and, together with the U.S. Trustee, the "Trustees" and each, a "Trustee", <font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">which terms include any successor trustee under the Indenture</font>)<font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">, as supplemented by the First Supplemental Indenture, dated as of February 24, 2017, among the Company and the Trustees (the "First Supplemental Indenture"), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustees and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered.&#160; This Note is one of the series designated on the face hereof. The Notes are issued pursuant to the Indenture and are limited in aggregate principal amount to U.S.$750,000,000 (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, Notes pursuant to Sections 304, 305, 306, 906 or 1108 of the Indenture and except for any Notes which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered thereunder); </font><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">provided, however</font><font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">, that the Company may, from time to time, without the consent of the Holders of the Notes, create and issue additional notes having the same terms and conditions as the Notes in all respects or in all respects except for issue date, issue price and, if applicable, the first date on which interest accrues and the first payment of interest thereon.&#160; Additional notes issued in this manner may be consolidated with, and form a single series with, the Notes.&#160; The Notes and any such additional notes would rank equally and ratably. Any additional notes must be treated as fungible with the Notes for U.S. federal income tax purposes or be identified by a separate CUSIP number.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">The indebtedness evidenced by this Note, </font>and all other Securities now or hereafter authenticated and delivered under the Indenture,<font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt"> is, to the extent and in the manner provided in the Indenture, subordinate and subject in right of payment to the prior payment in full of all Policy Liabilities and Senior Indebtedness,</font> whether now outstanding or hereinafter incurred, in accordance with the terms of such Policy Liabilities and Senior Indebtedness,<font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt"> and this Note is issued subject to the provisions of Article Fourteen of the Indenture with respect thereto. Each Holder of this Note, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustees on his or her behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustees as his or her attorneys-in-fact for any and all such purposes.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">"<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">5-Year Mid-Swap Rate</font>" means (i) the 5-year semi-annual mid-swap rate as displayed on the Reset Screen Page on the Reset Interest Determination Date or (ii) if the 5-year semi-annual mid-swap rate does not appear on the Reset Screen Page on the Reset Interest Determination Date, the Reset Reference Bank Rate on the Reset Interest Determination Date, in either case, as determined by the Company, whose determination will be final and binding.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">"<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Reset Interest Determination Date</font>" means the day falling two Business Days prior to the Reset Date.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">"<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Reset Reference Bank Rate</font>" means the percentage rate determined on the basis of the 5-Year Mid-Swap Rate Quotation provided by five leading swap dealers in the interbank market (selected by the Company) to the Company at approximately 11:00 a.m. (New York time) on the Reset Interest Determination Date. If at least three quotations are provided, the 5-Year Mid-Swap Rate will be the arithmetic mean of the quotations calculated by the Company, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two quotations are provided, the 5-Year Mid-Swap Rate will be the arithmetic mean calculated by the Company of the quotations provided. If only one quotation is provided, the 5-Year Mid-Swap Rate will be the quotation provided. If no quotations are provided, the 5-Year Mid-Swap Rate shall be equal to the last available 5-year semi-annual mid-swap rate on the Reset Screen Page.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">"<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">5-Year Mid-Swap Rate Quotation</font>" means, in each case, the arithmetic mean of the bid and offered rates for the semi-annual fixed leg (calculated by the Company on a basis of a 360-day year consisting of twelve 30-day months) of a fixed-for-floating U.S. dollar interest rate swap which (i) has a term of five years commencing on the Reset Date, (ii) is in an amount that is representative of a single transaction in the relevant market at the relevant time with an acknowledged dealer of good credit in the swap market and (iii) has a floating leg based on the 3-month U.S. dollar LIBOR (calculated by the Company on the basis of the actual number of days elapsed in a 360-day year).</div>

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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">on the Reset Date, on not less than 30 nor more than 60 days' prior written notice to the applicable Holder, at a Redemption Price equal to 100% of the </div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">principal amount of such Notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date;</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">if a Regulatory Event has occurred<font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">, at any time within 90 days following such Regulatory Event, on not less than 30 nor more than 60 days' prior written notice</font> to the applicable Holder, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date; and</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">if a Tax Event has occurred, at any time following such Tax Event, on not less than 30 nor more than<font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt"> 60 days' prior written notice</font> to the applicable Holder, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. No redemption shall be made pursuant to this paragraph unless:</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">the Company shall have received an Opinion of Counsel that a Tax Event has occurred;</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">the Company shall have delivered to the Trustees an Officers' Certificate stating that the Company is entitled to redeem such Notes pursuant to the terms of such Notes; and</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">at the time such notice of redemption is given, such Tax Event is continuing.</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">there occurs any change (including any announced prospective change) in or amendment to the laws or treaties (or any rules, regulations, rulings or administrative pronouncements thereunder) of Canada or of any political subdivision or taxing authority thereof or therein affecting taxation, or any change in official position regarding the application or interpretation of such laws, treaties, rules, regulations, rulings or administrative pronouncements (including a holding by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the Original Issue Date; or</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">on or after the date of the Original Issue Date, any action has been taken by any taxing authority of, or any decision has been rendered by a court of competent jurisdiction in, Canada or any political subdivision or taxing authority thereof or therein, including any of those actions specified in the paragraph immediately above, whether or not such action was taken or decision was rendered with respect to the Company, or any change, amendment, application or interpretation shall be officially proposed;</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">the Company has become or would become obligated to pay, on the next date on which any amount would be payable with respect to any such Notes, any Additional Amounts; or</div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">the Company is, or may be, subject to more than a de minimis amount of additional taxes, duties or other governmental charges or civil liabilities or any reduction in any loss, credit, reserve or other tax attribute because the treatment of any of its items of income, taxable income, expense, taxable capital or taxable paid up capital with respect to the Notes (including the treatment by the Company of interest on the Notes) or the treatment of the Notes, as or as would be reflected in any tax return or form filed, to be filed, or otherwise could have been filed, will not be respected by a taxing authority.</div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">The Indenture and the First Supplemental Indenture contain provisions for satisfaction, discharge and defeasance of (a) the entire indebtedness evidenced by this Note, and (b) certain restrictive covenants upon compliance by the Company with certain conditions set forth therein.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. The Indenture contains provisions permitting the Holders of not less than a majority in aggregate principal amount of the Outstanding Notes, on behalf of all of the Holders of the Notes, to waive any Event of Default under the Indenture and its consequences, subject to Section 513 of the Indenture.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">In accordance with Section 1007 of the Indenture, all payments made by or on behalf of the Company under or with respect to the Notes will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge imposed or levied by or on behalf of the Government of Canada or any province, territory or political subdivision thereof, or by any authority or agency therein or thereof having power to tax ("<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Relevant Taxes</font>"), except to the extent required by law or by the interpretation or administration thereof.&#160; If the Company is so required to withhold or deduct any amount for or on account of such Relevant Taxes from any payment made under or with respect to the Notes, the Company will pay such additional amounts ("<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">Additional Amounts</font>") as may be necessary so that the net amount received by each Holder (including Additional Amounts) after such withholding or deduction will be equal to the amount such Holder would have received if such Relevant Taxes had not been withheld or deducted; <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">provided</font>, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 12pt">however</font>, that no Additional Amounts will be payable in respect of any Notes for or on account of:</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt">time to time or any successor version thereof, or any similar legislation imposed by any other governmental authority, (ii) any agreements (including intergovernmental agreements) with respect thereto, or (iii) any treaty, law, regulation, or official interpretation enacted by Canada or any other governmental authority implementing any of the foregoing;</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; MARGIN-BOTTOM: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">(7)</font><font style="WIDTH: 36pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 12pt">any Relevant Tax which would not have been imposed but for the presentation of a note (where presentation is required) for payment on a date more than 30 days after (i) the date on which such payment became due and payable or (ii) the date on which payment thereof is duly provided for, whichever occurs later; or</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">In addition, the Company will not pay Additional Amounts to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of the payment subject to the Relevant Tax, to the extent such payment would, under the laws of Canada or any province, territory or political subdivision thereof, be treated as being derived or received for tax purposes by a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to Additional Amounts had it been the Holder of the Notes.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">Wherever in this Note there is mentioned, in any context, the payment of principal (and premium, if any), interest or any other amount payable under or with respect to this Note, such mention shall be deemed to include mention of the payment of any Additional Amount that may be payable as provided above.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustees with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected.&#160; The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.&#160; Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">The Notes are issuable only in registered form without coupons in denominations of U.S.$2,000 and integral multiples of U.S.$1,000 in excess thereof. [This Global Note is exchangeable for Notes in definitive form only under certain limited circumstances set forth in the Indenture.]<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup>&#160; As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are exchangeable for a like aggregate principal amount of Notes of this series of a different authorized denomination, as requested by the Holder surrendering the same.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-BOTTOM: 12pt; COLOR: #000000; FONT-SIZE: 12pt">The Company, the Trustees and any agent of the Company or the Trustees may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustees nor any such agent shall be affected by notice to the contrary.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">THIS NOTE AND THE INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, EXCEPT FOR THE THIRD PARAGRAPH OF THE REVERSE HEREOF AND ARTICLE FOURTEEN OF THE INDENTURE, WHICH SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE PROVINCE OF ONTARIO AND THE FEDERAL LAWS OF CANADA APPLICABLE THEREIN.</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">TRANSFER NOTICE</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">_________________________________________________________________________________________________<br style="LINE-HEIGHT: 12.55pt">
 Please print or typewrite name and address including zip code of assignee</div>

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<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">_________________________________________________________________________________________________<br>
</font>the within Note and all rights thereunder, hereby irrevocably constituting and appointing&#160; attorney to transfer such Note on the books <br>
 of the Company with full power of substitution in the premises.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">Date:&#160;_________________________________<font style="WIDTH: 174pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 1px">&#160;</font></div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; MARGIN-TOP: 12pt"><font style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">By:&#160; __________________________________</font><font style="WIDTH: 174pt; FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 1px">&#160;</font></div>

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<div style="FONT-FAMILY: 'Times New Roman', serif; COLOR: #000000; FONT-SIZE: 11pt">(Participant in a Recognized Signature<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt"><br>
</font> Guaranty Medallion Program)</div>
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<TYPE>EX-99.2
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; FONT-FAMILY: Arial, sans-serif; COLOR: #006a3e; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Manulife Financial Corporation Completes U.S<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font> Public Offering of Subordinated Notes</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 12.5pt; FONT-FAMILY: Arial, sans-serif; FONT-SIZE: 11pt"><font style="FONT-FAMILY: Arial, sans-serif; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Toronto </font><font style="FONT-WEIGHT: normal">&#8211; Manulife Financial Corporation (NYSE: MFC) (the "Company") <font style="FONT-FAMILY: Arial, sans-serif; COLOR: #000000; FONT-SIZE: 11pt">has completed today its previously announced public offering in the United States of</font> $75<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">0</font> million aggregate principal amount of 4<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font>061% subordinated notes due 2032<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font></font></div>

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<div style="text-align: justify; line-height: 12.6pt; font-family: Arial, sans-serif; font-size: 11pt; font-weight: normal;">The notes were issued pursuant to a prospectus supplement<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> dated February 21<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> 2017<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> to the Company's registration statement declared effective by the Securities and Exchange Commission (the "SEC") on December 18<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> 2015. Details of the offering are set out in the prospectus supplement<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> which is available on the SEC website at www<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font>sec<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font>gov and on SEDAR at www<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font>sedar<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font>com<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font></div>

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<div style="text-align: justify; line-height: 12.6pt; font-family: Arial, sans-serif; font-size: 11pt; font-weight: normal;">Citigroup Global Markets Inc<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.,</font> J.P<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font> Morgan Securities LLC and Morgan Stanley &amp; Co<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font> LLC acted as joint book-running managers for the offering<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt; FONT-FAMILY: Arial, sans-serif; COLOR: #006a3e; FONT-SIZE: 11pt; FONT-WEIGHT: bold">About Manulife Financial Corporation</div>

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<div style="text-align: justify; line-height: 12.6pt; font-family: Arial, sans-serif; font-size: 11pt; font-weight: normal;">Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate as John Hancock in the United States and Manulife elsewhere<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font> We provide financial advice<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> insurance<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2016<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> we had approximately 35<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,000</font> employees, 70<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,000</font> agents, and thousands of distribution partners, serving more than 22 million customers. At the end of 2016<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> we had C$977 billion ($728 billion) in assets under management and administration<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> and in the previous 12 months we made almost C$26 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 10<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">0</font> years. With our global headquarters in Toronto<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> Canada<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> we trade as 'MFC' on the Toronto<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">,</font> New York, and the Philippine stock exchanges and under '945' in Hong Kong<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 11pt">.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 14.4pt; FONT-FAMILY: Arial, sans-serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Media Contact:</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 14.4pt; FONT-FAMILY: Arial, sans-serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 11pt">Sean B. Pasternak<br>
Manulife<br>
416-852-2745<br>
 sean_pasternak@manulife.com</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 15.75pt; FONT-FAMILY: Arial, sans-serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Investor Relations:</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 15.75pt; FONT-FAMILY: Arial, sans-serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 11pt">Robert Veloso<br>
Manulife<br>
416-852-8982<br>
<u>robert_veloso@manulife.com</u></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
