#Manulife #NCIB #Toronto Stock Exchange

Manulife Financial Corporation Initiates Normal Course Issuer Bid

Manulife Financial Corporation, a prominent player in the financial services sector, has revealed significant news regarding its capital management strategies. On February 19, 2026, the company announced that it has obtained approval from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) that allows for the repurchase and subsequent cancellation of up to 42 million of its common shares. This represents approximately 2.5% of the total shares currently issued and outstanding, which as of February 10, 2026, stood at an impressive 1,676,751,543 shares.

Objectives of the Normal Course Issuer Bid

The initiative is part of a broader capital management strategy, aimed at maintaining healthy regulatory capital ratios while simultaneously striving to enhance shareholder value. Through the NCIB, Manulife has positioned itself to react dynamically to market conditions, thereby allowing for timely share purchases that could positively influence the stock value in the long run.

The approval also includes specified trading limits, permitting Manulife to buy as many as 1,483,481 shares on any trading day, up to 25% of average daily trading volume of 5,933,925 shares over the preceding six months ended January 31, 2026. This strategic maneuver is set to initiate on February 24, 2026, and will conclude on February 23, 2027, unless the company completes its share purchases before the expiration date.

Flexibility in Share Acquisition

Manulife's NCIB will confer ample flexibility, enabling the financial corporation to execute share purchases through various trading channels, including the TSX, the New York Stock Exchange (NYSE), and alternative trading systems in Canada and the United States. Shares acquired as part of this initiative will be fully cancelled, in accordance with applicable securities laws in both Canada and the United States.

Moreover, the company may explore off-market options for share repurchases outside of Canada and the U.S., ensuring compliance with local laws. With the provision for private agreements, Manulife could potentially acquire shares from other holders at discounts to the prevailing market rates, enhancing its share repurchase strategy.

In addition to direct purchases, Manulife could also explore derivative options, which may include writing put options and entering into accelerated share purchase agreements, reinforcing its commitment to a shareholder-driven approach.

Ongoing Investor Communication and Future Considerations

Key to the execution of this NCIB is the automatic share purchase plan that Manulife has established. This plan will empower its designated broker to carry out purchases on behalf of the corporation. Notably, the timing, number of shares, and purchase prices will all be influenced by market fluctuates, thus ensuring a market-sensitive strategy rather than a rigid approach.

The company has reiterated that actual purchases will depend heavily on various factors, including its financial performance, cash flow requirements, and investment market conditions. Manulife emphasized the importance of its regulatory environment in determining the pacing and volume of share repurchases, demonstrating its thorough assessment of market dynamics.

Lastly, forward-looking statements regarding the NCIB underscore the risks and uncertainties inherent in such financial strategies, ensuring that stakeholders are cognizant of potential fluctuations in actual purchase activities versus those anticipated.

About Manulife Financial Corporation

Headquartered in Toronto, Canada, Manulife Financial Corporation operates as a leading international financial services provider, known for its commitment to customer-centric solutions. With a diverse portfolio that includes financial advice, insurance, and health solutions, the corporation continues to serve a vast clientele across various markets, demonstrating its adaptability and foresight in a constantly changing financial landscape. As of the end of 2025, Manulife employed more than 37,000 professionals and partnered with over 106,000 agents to serve approximately 37 million customers around the globe. As a publicly traded company, it operates under the ticker symbol