Manulife Financial closes Comvest Credit acquisition

Mr. Jeff Cathie reports MANULIFE COMPLETES ACQUISITION OF COMVEST CREDIT PARTNERS Manulife Financial Corp., through its more than $900-billion (U.S.) global wealth and asset management (WAM) segment, has closed the previously announced transaction to acquire 75 per cent (1) of Comvest Credit Partners (2), creating a leading private credit asset management platform. "We are excited to officially welcome the Comvest team to Manulife," said Manulife president and chief executive officer Phil Witherington. "The transaction scales and enhances our private market platform, and is immediately accretive to core EPS, core ROE and core EBITDA margin. The combined platform creates significant opportunity given our global distribution capabilities and I am confident we will drive robust and sustainable growth." The new private credit platform -- Manulife/Comvest Credit Partners -- will be built on the continuity of Comvest's proven leadership and Manulife's global scale. The platform will provide creative and flexible private credit solutions to both sponsored and non-sponsored companies. Alongside Manulife Investment Management's private equity program and global distribution network, the platform will combine deep origination channels, rigorous underwriting discipline and long-term stability that will seek to deliver attractive risk-adjusted returns across market cycles. For more information on the transaction, please see the news release and slides from the company's Aug. 6, 2025, announcement. (1) Comvest employees will retain a 25-per-cent interest in Comvest, providing meaningful alignment; path to full ownership six years postclosing. (2) Comvest Credit Partners is a fully owned subsidiary of private credit and private equity investment manager Comvest Partners. Comvest Partners' private equity strategy, Comvest Investment Partners, is not included in the agreement. About Manulife Financial Corp. Manulife is a leading international financial services provider, helping its customers make their decisions easier and lives better. With its global headquarters in Toronto, Canada, the company operates as Manulife across Canada, Asia and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, the company offers global investment, financial advice and retirement plan services to individuals, institutions and retirement plan members worldwide. At the end of 2024, Manulife had more than 37,000 employees, over 109,000 agents and thousands of distribution partners, serving over 36 million customers. It trades as MFC on the Toronto Stock Exchange, New York Stock Exchange and Philippine Stock Exchange, and under 945 in Hong Kong. We seek Safe Harbor.