Manulife US REIT-Sustainability Report 2019

Stock Ownership Plans for All Employees Starting from July 2019, all Manulife’s employees in Singapore, including MUST’s employees were eligible for Manulife’s Global Share Ownership Plan (GSOP). Under this plan, all employees may apply up to 5.0% of their annual base earnings towards the purchase of common shares of Manulife Financial Corporation (MFC). MFC matches a percentage of the employee’s eligible contributions capped at a certain amount. All contributions are used to purchase common shares in the open market and can be vested immediately. This new initiative received positive response from our staff and some 37.5% of MUST’s employees have participated in this programme this year. By providing an opportunity for our employees to share tangibly in Manulife’s success, we were able to increase employee engagement and cultivate an ownership mentality within our workforce. Including staff who were granted Restricted Share Units under the Long Term Incentive Scheme, 68.8% of MUST employees benefitted from employee stock plans under MFC/MUST in 2019. Monitoring Employee Satisfaction An employee engagement survey is conducted annually to obtain feedback from our employees and to assess the engagement level of our workforce. In 2019, our employee engagement survey was conducted by an independent survey firm – Gallup, Inc. and reflected a significant increase in MUST’s engagement score. By engaging an independent survey firm for our annual employee engagement review, we were also able to benchmark our results against industry-specific data for more meaningful comparison. For 2019, MUST has an average monthly resignation rate of 2.0%, below the Singapore real estate services industry of 2.5% 1 . The average monthly recruitment rate stands at 2.0%, also lower from Singapore’s real estate services industry average of 3.2% 1 . 1 Source: Ministry of Manpower. Average Monthly Recruitment/Resignation Rate during a quarter is defined as the average number of persons recruited/resigned in a month during the quarter divided by the average number of employees in the establishment. The annual figures are the simple averages of the quarterly figures. HUMAN CAPITAL RECOGNISING OUR STAR EMPLOYEES In 2019, our Head of IR and CSO, Caroline Fong received a prestigious accolade from Manulife’s annual global Stars of Excellence Awards. The award recognises individuals and teams who have excelled in their roles based on Manulife’s core values. Out of the 34,000 staff worldwide, only 100 employees were selected to receive the award in Toronto, Canada, which was presented by Manulife’s President and CEO. The gala dinner was attended by Manulife’s Board of Directors and senior executive officers. Caroline was recognised for driving the successful initial public offering of Manulife US REIT, doubling its AUM in two years and institutionalising the REIT’s investor base with greater geographical reach. By honouring MUST’s top achievers through Manulife’s recognition programme, we were able to drive employee satisfaction and create a greater workplace experience for our employees. John Cassaday, Manulife’s Chairman and Hsieh Tsun-Yan, Manulife’s Director and MUST’s Chairman 84 MUST