Manulife announces Normal Course Issuer Bid

Executive Summary

• Manulife Financial Corp. received TSX approval for its NCIB, allowing the purchase and cancellation of up to 42 million common shares (~2.5% of outstanding shares).
• The bid may commence on Feb 24 2026 and run through Feb 23 2027, with daily purchase limits of 1,483,481 shares (25% of average daily volume).
• Purchases can be executed on the TSX, NYSE, alternative trading systems, or via private agreements (potentially at a discount), and may involve derivative‑based programs.

Key Details

• Authorized Share Quantity: Up to 42 million common shares for repurchase and cancellation.
• Outstanding Shares (as of Feb 10 2026): 1,676,751,543.
• Daily Purchase Cap: 1,483,481 shares (≈25% of average daily TSX volume of 5,933,925 shares for the six months ended Jan 31 2026).
• Program Period: Purchases may begin Feb 24 2026 and continue until Feb 23 2027, or earlier if the full amount is bought.
• Trading Venues: TSX, NYSE, Canadian and U.S. alternative trading systems; also permissible in other jurisdictions subject to local laws.
• Pricing: Market price at time of purchase or any price permitted under applicable securities regulations; private purchases generally at a discount to market.
• Derivative Support: Manulife may use put options, forward purchase agreements, accelerated share purchase transactions, and other equity contracts to facilitate the NCIB, subject to regulatory approval.
• Automatic Share Purchase Plan: An automatic plan pre‑cleared by the TSX will enable designated broker purchases; timing, volume, and price depend on market conditions and internal blackout periods.
• Regulatory Approvals: TSX approval obtained; prior approval from the Office of the Superintendent of Financial Institutions (OSFI) also in place.

Notable Quotes

(No direct quotes were provided in the release.)