Genworth 3Q22 Earnings Summary Presentation

Cautionary Note Regarding Forward-looking Statements

Thispresentation containscertain "forward-looking statements" within the meaning of the Private SecuritiesLitigation Reform Act of 1995. Forward-looking statementsmay be identified by wordssuch as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "will" or wordsof similar meaning and include, but are not limited to, statementsregarding the outlookfor the company'sfuture businessand financial performance. Examplesof forward-looking statementsinclude statementsthe company makesrelating to potential dividendsor share repurchases; future retuof capital by Enact Holdings, Inc. (Enact Holdings), including quarterly and special dividends; the cumulative amount of rate action benefitsrequired for the company'slong-term care insurance businessto achieve break-even; future financial performance and condition of the company'sbusinesses, including Genworth achieving two consecutive quartersof financial metricsto satisfy certain conditionsin connection with the GSEs' restrictionsplaced on Enact Holdingsand the impact to Genworth'sequity upon adopting new accounting guidance related to long-duration insurance contracts; liquidity and future strategic investments, including new productsand servicesdesigned to assist individualswith navigating and financing long-term care, and potential third-party relationshipsor business arrangementsrelating thereto; as well asstatementsthe company makesregarding the potential impactsof the coronaviruspandemic (COVID-19).Forward-looking statementsare based on management'scurrent expectationsand assumptions, which are subject to inherent uncertainties, risks and changesin circumstancesthat are difficult to predict. Actual outcomesand resultsmay differ materially from those in the forward-looking statementsdue to global political, economic, inflation, business, competitive, market, regulatory and other factorsand risks, including those discussed at the end of thispresentation, aswell asin the risk factor section of Genworth'sAnnual Report on Form 10-K, filed with the United StatesSecuritiesand Exchange Commission (SEC) on February 28, 2022. Genworth undertakesno obligation to publicly update any forward-looking statement, whether asa result of new information, future developmentsor otherwise. For information regarding forward- looking statements, see the Appendix.

Non-GAAP1 and other items

All financial resultsare as of September 30, 2022 unlessotherwise noted. For additional information, please see Genworth'sthird quarter 2022 earningsrelease and financial supplement posted at genworth.com.

For important information regarding the use of non-GAAP and selected operating performance measures, see the Appendix.

Unless otherwise noted, all referencesin thispresentation to net income (loss), net income (loss) per share, adjusted operating income (loss) and adjusted operating income (loss) per share should be read as net income (loss) available to Genworth's common stockholders, net income (loss) available to Genworth'scommon stockholdersper diluted share, adjusted operating income (loss) available to Genworth'scommon stockholdersand adjusted operating income (loss) available to Genworth'scommon stockholdersper diluted share, respectively.

StatutoryAccounting Data

The company presentscertain supplemental statutory data for Genworth Life Insurance Company (GLIC) and itsconsolidating life insurance subsidiariesthat hasbeen prepared on the basisof statutory accounting principles(SAP). GLIC and itsconsolidating life insurance subsidiariesfile financial statementswith state insurance regulatory authoritiesand the National Association of Insurance Commissionersthat are prepared using SAP, an accounting basiseither prescribed or permitted by such authorities. Due to differencesin methodology between SAP and U.S. GAAP, the valuesfor assets, liabilitiesand equity reflected in financial statementsprepared in accordance with U.S. GAAP are materially different from those reflected in financial statementsprepared under SAP. Thissupplemental statutory data should not be viewed asan alternative to U.S. GAAP or used in lieu of U.S. GAAP.

Thissupplemental statutory data includesCompany Action Level risk-based capital ratiosfor GLIC and itsconsolidating life insurance subsidiariesaswell asstatutory earnings. Management usesand providesthissupplemental statutory data because it believesit providesa useful measure of among other thingsthe adequacy of capital. Management usesthisdata to measure against itspolicy to manage the U.S. life insurance businesseswith internally generated capital.

Key Themes for the 3rd Quarter of 2022

Third quarter net income of $104M, or $0.20 per diluted share, and adjusted operating income1 of $159M, or $0.31 per diluted share

Enact segment adjusted operating income of $156M2 Received $19M quarterly dividend fromEnact

U.S. Life Insurance segment adjusted operating income of $11M

$47M in annual long-termcare insurance (LTC) premiumrate increases approved, increasing net present value from achieved rate actions by approximately $300M, bringing the total to $21.0B

U.S. life insurance companies'risk-based capital ratio3 estimated at 285%

Redeemed $152M of debt, achieving holding company debt target of $1.0B or less; cash and liquid assets above target at $145M

Executed $19M in share repurchases in the quarter; $59M in total executed through October 2022

1 Non-GAAP measure, see appendix for additional information; 2 ReflectsGenworth ownership percentage; 3 Risk-based capital ratio based on company action level

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Genworth Consolidated Results

• Continued IIF2 growth, up 9% versus prior year

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•1 ReflectsGenworth ownership amount excluding noncontrolling interestsof $35M, $38M, and $4M for 3Q22, 2Q22 and 3Q21, respectively; 2 Insurance in-force;3 Deferred acquisition costs