First Quarter 2012

Australia Mortgage Insurance Portfolio Update May 2, 2012

Company Confidential

2012 Genworth Financial, Inc. All rights reserved.

Cautionary Note Regarding Forward-Looking Statements

This presentation contains certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as expects, anticipates, intends, plans, believes, seeks, estimates, will or words of similar meaning and include, but are not limited to, statements regarding the outlook for Genworth Financial, Inc.s (Genworth) future business and financial performance. Forward-looking statements are based on managements current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks, including those discussed in the Appendix, as well as in the risk factors section of Genworths Annual Report on Form 10-K, filed with the United States Securities and Exchange Commission (SEC) on February 27, 2012. Genworth undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

Use Of Non-GAAP & Selected Operating Performance Measures

All financial data as of March 31, 2012 unless otherwise noted. For additional information, please see Genworths first quarter of 2012 earnings release and financial supplement posted at genworth.com. For important information regarding the use of non-GAAP measures and selected operating performance measures, see the Appendix.

This presentation should be used in conjunction with the accompanying audio or call transcript.
1Q12 Earnings Call Australia MI May 2, 2012 1

Australia Portfolio Segmentation

Risk In-Force By State
($B)
New South Wales Victoria Queensland Western Australia All Other

Observations
0.54%
0.53% 0.37% 0.80% 0.57% 0.49%
Total Delq Rate

100.5
31% 23% 22% 11% 13%

Geographic Dispersion In Line With Population Overall Performance By Geography Solid Queensland Exception Coastal Queensland Particularly Pressured ~6% Risk In-Force (RIF) 2007/2008 Strong Origination Markets Higher Concentrations Of Small Business/ Self-Employed ~6% RIF

Risk In-Force By Vintage

($B)
2005 & Prior 2006 2007 2008 2009 2010 2011 2012
1Q12 Earnings Call Australia MI

100.5
32% 10% 12% 11% 13% 9% 10%

0.54%
0.23% 0.80% 1.14% 1.38% 0.83% 0.27% 0.05% -%

Total Delq Rate

Sub-Segment Pressured By Current Economy Particularly Coastal Queensland Strengthened Guidelines & Eliminated Certain Products In 2008/1H09

3%

May 2, 2012

1Q12 Reserve Strengthening Drivers

1 Coastal Queensland Economic Downturn

Small Business/Self-Employed In 20072008 Books

Impact Of Lender Servicing/Forbearance Programs

Number Of Paid Claims & Claim Severity

1Q12 Earnings Call Australia MI

May 2, 2012

Coastal Queensland Economic Downturn

Largest Impact In Sub-Regions With Depressed Tourism & Consumer Spending Strong A$ & Decline In Consumer Confidence Impacted Local Economies Reduced Housing Demand Deeper Home Price Declines
Retail Sales, Tourism Growth (Index To 4Q08), Mortgage Rate
115

Retail / Tourism

110 105 100 95

2009 Q1

7.0 6.5 6.0 5.5 5.0

Mortgage Rate

Mortgage Rate QLD Retail Sales AUS Retail Sales QLD Tourism

8.0 7.5
Coral Sea

Far!North
Delq!Rate %!QLD!RIF HPA!(4Q11) Peak!To!Trough 1.0% 4% (10)% (17)%

Q2

Q3

Q4

2010 Q1

Q2

Q3

Q4

2011 Q1

Q2

Q3

Q4

2012 Q1TD

Source: RBA, ABS

Delinquency Development
1.2% 1.0% 0.8% 0.6% 0.4% 0.2% 0.0%
0.74% 0.84% 1.12% 0.98% 1.13%

Sunshine!Coast
Delq!Rate %!QLD!RIF HPA!(4Q11) Peak!To!Trough 1.0% 6% (5)% (12)%

Coastal Queensland Queensland 0.80% Portfolio 0.54% Rest!Of!Queensland

Delq!Rate %!QLD!RIF HPA!(4Q11) Peak!To!Trough 0.7% 76% (1)% (8)%

0.64% 0.52%

0.74% 0.56%

0.84% 0.59%

0.81% 0.55%

Gold!Coast
Delq!Rate %!QLD!RIF HPA!(4Q11) Peak!To!Trough 1.1% 14% (8)% (15)%

1Q11

2Q11

3Q11

4Q11

1Q12 May 2, 2012

Source: RP Data / Management Estimate, 4Q HPA Y-O-Y

1Q12 Earnings Call Australia MI

Higher Coastal Queensland Claims

Portfolio Queensland Coastal QLD

Average Claim Amount (A$,K)

140 120 100 80 60 40 20 0

Deeper Home Price Declines Drove Higher Claims

Queensland Peak To Trough Price Decline ~10% Coastal Area 12-17% Decline Deeper Declines In Certain Properties

1Q11

2Q11

3Q11

4Q11

1Q12

Lender Servicing Extension

Average Loan Balance (A$, K)1

Total Portfolio Queensland Coastal Queensland
1For

300 318 429

1Q12 Paid Claims May 2, 2012 5

1Q12 Earnings Call Australia MI

Sm. Bus./Self-Employed In 0708 Books

Large 2007/2008 Vintages Heavily Impacted By Regional Downturns

Reliance On Tourism, Consumer Spending & Rental Income Incomes Reduced & Cost Of Living Increases Interest Rate Increases In Late 2009 & 2010

Risk In-Force & Delinquency-Vintage

(A$, B) 6.3
4.3 Effective RIF 3/31/2012 SB/SE 1 SB/SE - QLD SB/SE - Coastal QLD

Average Claim Amount

(A$, K)
Portfolio SB/SE '07-'08 SB/SE QLD SB/SE

107 88 89 77

115

107

112

2.9
1.4 0.6 1.8 0.8

2.7
1.6 0.8

1.5
1.0 0.4

0.7
2010

0.8
2011+

65

06 & Prior

2007

2008

2009

4% 3% 2% 1% 0%

1Q12 Delinquency Rate

SB/SE SB/SE - QLD SB/SE - Coastal QLD

4Q11
Paid Claims # Portfolio!SB/SE 07"08!SB/SE QLD SB/SE 4Q11 111 69 34 1Q12 208 147 90

1Q12
Increase 87% 113% 165%

06 & Prior

2007

2008

2009

2010

2011+

1Small

Business/Self-Employed

1Q12 Earnings Call Australia MI

May 2, 2012

Future Claims Development

Delinquencies In Pressured Sub-Segments Are Stabilizing

2007-2008 Vintages Peaking Analysis Of Delinquency Inventory Shows Improving Mix & Lower Severities

Portfolio Vintage
Delinquency Rates
1.2%

Key Segment Delinquency/Severity

%!Of!Delq!RIF
0708 Self-Employed

Early!Stage

Late!Stage

1.0%

Coastal Queensland Small!Business/! Self!Employed! 2007"2008 Total!Portfolio

10% 18%

15% 25%

0.8%

0708 2009

0.6%

0.4%

Early!Stage

Late!Stage

0.2%

2010 2011

Severity!Indication

24"27%!

31"33%!

0.0%
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49
Months Aging

Australia Direct Business Only 1Q12 Earnings Call Australia MI May 2, 2012 7

Lender Servicing/Forbearance Impact

Observed Extension Of Time From Arrears To Claims Payment Two Drivers Servicing Practices/Forbearance Process Gives Rise To Increased Claims Sensitivity Servicing
Servicing Delays Caused By Specific Lender Group Interest Accumulates As Arrears Age Driving Up Costs Lenders Cautious In Proceeding With Foreclosures
25 20 15 10 5 0
All Other

Claims (# Months In Arrears)

Lender Group

21 13

Forbearance
Aug-11 Nov-11 Jan-11 Jul-11 Feb-11 Mar-11 Jun-11 Jan-12 Apr-11 Oct-11 Feb-12 Sep-11 May-11 Dec-11 Mar-12

Borrowers Can Resolve Hardship Disputes Through A Government Sanctioned Process Provides Forbearance While Dispute Is Being Resolved By An Independent 3rd Party Number Of Complaints Is Increasing

Servicing Gaps/Forbearance Can Result In Delays Of 6-12 Months

1Q12 Earnings Call Australia MI

May 2, 2012

Paid Claims

Number Of Claims Paid Increased Significantly In 1Q12 Average Claims Size Increased, Particularly In March 2012 # Of Claims Paid
253 162 150
Oct-11

293

306

156
Nov-11

177

GNW/Lenders Increased Focus On Default Management Volume Of Claims Paid Increased Significantly In 1Q12 Considerable Increase In Average Paid Claim In March

Sep-11

Dec-11

Jan-12

Feb-12

Mar-12

Average Paid Claim (A$, K)

104 60 66 77 53
Nov-11 Dec-11

64

60

Increase In Average Loan Balance

Sep-11

Oct-11

Jan-12

Feb-12

Mar-12

1Q12 Earnings Call Australia MI

May 2, 2012

Approach To Loss Reserve Strengthening

Approach Supplemented Quarterly Actuarial Review With Extensive Loan-By-Loan Analysis Of Delinquency Inventory
Current Property Valuations Used & Adjusted To Reflect Foreclosure Sale

% Of Effective RIF Reserved

78
Before Strengthening After Strengthening

57 48

Loss Reserve Strengthening Reflects Recent Emergence Of Claims Frequency & Severity Improved Economic Conditions Not Anticipated In Reserves Significant Strengthening In Late Stage Delinquencies

27 14 15

Early Stage

Late Stage

Foreclosure

1Q12 Loss Reserve Strengthening: $82MM Total Loss Reserves @ 1Q12: $342MM

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Focus Areas Going Forward

Focus Areas Continue Thorough Analysis Of Delinquency Inventory On Site Default Management Personnel At Key Lenders To Assess & Improve Collections And Workout Activities Review Of Late Stage Delinquencies Update Property Valuations & Actively Loss Mitigate Continue Monitoring Self-Employed & Coastal Queensland Performance

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11

Portfolio Assessment
Specific Tourist Areas
Coastal Queensland Primary Tourist Concentration Other Areas Lower Exposure Diversified Economic Areas Withstanding Pressure
Specific Tourist Areas Coastal Queensland Central Coast (NSQ) South West (WA) RIF% Delq Rate 6% 1% 1% 1.13% 0.75% 0.84%

Portfolio Vintage
2007/2008 Vintages Under Performing Other Books Small Business/Self-Employed A Driver Delinquency Trends Stabilizing As Portfolio Seasons
1.4% 1.2% 1.0% 0.8% 0.6% 0.4% 0.2% 0.0%
1 8 15 22

Delinquency Rate
2008

2007 2009 2010 2011

29 36 43 50 57 64 71

2006 2005 & Prior

Australia Direct Business Only 1Q12 Earnings Call Australia MI May 2, 2012 12

Months Aging

Financials
Net Operating Income (Loss)1
($MM)

Observations History Of Solid Annual Earnings Single Premium Product Reduces Revenue Volatility $1.1B Of Unearned Premiums ~7% Price Increase Underway ~30% Of Revenue From Invested Asset Base Expect To Be Profitable In 2012

52

54 36

54

(21)
Loss Reserve Adjustment

(53) 1Q12
154%

1Q11
45%

2Q11
48%

3Q11
48%

4Q11
46%

Reported Loss Ratio

1Re-Presented

For Accounting Change In 1Q12 Related To Deferred Acquisition Costs May 2, 2012 13

1Q12 Earnings Call Australia MI

Capital Adequacy
Regulatory Capital Ratio
(%) 152
Tier II Debt Raise

Observations
153

157

155

Capital Solvency Ratio Remains Solid A $2.3B Capital Base Diversified Capital Base
Raised A$140MM In Tier II Debt (June 2011) Building Tier 1 Capital Base Increased Reinsurance

139

Expanded External Reinsurance Program By A$210MM In 2012

Panel Of 14 Reinsurers
1Q11 2Q11 3Q11 4Q11 1Q12E

Strong Capital Generation Expected To Continue

1Q12 Earnings Call Australia MI

May 2, 2012

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Views Of Housing Market

Market Views
Bears
Home Prices Quadrupled Since 1990 Price To Income & Price To Rent Well Above Historical Levels Household Debt At Record Level Properties For Sale Up 30% Economy Dependent On China Growth

Genworth View
Lending Standards Are Strong Fundamental Housing Shortage Outlook For Economy Remains Solid Home Prices Are High By Historical Measures Moderated Since 2Q10 Affordability Good But Higher Debt Exposes Households To Rate Shocks We Continue To Strengthen Risk Mitigation Strategies

Bulls
Purchasing Power Supports Current Prices Affordability Has Improved With Lower Home Prices, Lower Rates & Higher Wages Fundamental Housing Shortage Strong Lending Standards With Full Borrower Recourse Government Has Monetary & Fiscal Flexibility
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Appendix

1Q12 Earnings Call Australia MI

May 2, 2012

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Delinquency Roll
Quarterly Trends
1Q11
Beginning Balance New Cures Paid Claims Ending Balance 7,062 3,457

Observations
2Q11
7,557 3,983

3Q11
8,193 4,040

4Q11
8,464 3,100

1Q12
7,874 3,555

1Q12 Increase Across All Regions Normal Seasonality Paid Claims

Significant 1Q12 Increase In Number Of Paid Claims Paid Claims To Remain Elevated Improving In Second Half

(2,590) (2,954) (3,373) (3,207) (2,740) (372) 7,557 (393) 8,193 (396) 8,464 (483) 7,874 (852) 7,837

Delinquencies
Change In Delqs Delinquency Rate 495 0.52% 636 0.56% 271 0.59% (590) 0.55% (37) 0.54%

Anticipate Modest Decline In Delinquency Inventory In 2nd Half Of 2012

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Definition Of Selected Operating Performance Measures

Management uses selected operating performance measures including ''sales," and "insurance in force" or "risk in force" which are commonly used in the insurance and investment industries as measures of operating performance. Management regularly monitors and reports sales metrics as a measure of volume of new and renewal business generated in a period. Sales refer to new insurance written for mortgage insurance. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers new insurance written to be a measure of the company's operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company's revenues or profitability during that period. Management regularly monitors and reports insurance in force and risk in force. Insurance in force for the international mortgage business is a measure of the aggregate face value of outstanding insurance policies as of the respective reporting date. For the risk in force in the international mortgage insurance business, the company has computed an effective risk in force amount, which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in force has been calculated by applying to insurance in force a factor of 35% that represents the highest expected average perclaim payment for any one underwriting year over the life of the companys businesses in Canada and Australia. The company considers insurance in force and risk in force to be measures of the companys operating performance because they represent a measure of the size of the business at a specific date which will generate revenues and profits in a future period, rather than a measure of the companys revenues or profitability during that period. These operating measures enable the company to compare its operating performance across periods without regard to revenues or profitability related to policies or contracts sold in prior periods or from investments or other sources.

Use Of Non-GAAP Measures

This presentation includes the non-GAAP1 financial measure entitled net operating income (loss). The chief operating decision maker evaluates segment performance and allocates resources on the basis of net operating income (loss). The company defines net operating income (loss) as income (loss) from continuing operations excluding net income attributable to noncontrolling interests, after-tax net investment gains (losses) and other adjustments and infrequent or unusual nonoperating items. The company excludes net investment gains (losses) and infrequent or unusual non-operating items because the company does not consider them to be related to the operating performance of the companys segments and Corporate and Other activities. A component of the companys net investment gains (losses) is the result of impairments, the size and timing of which can vary significantly depending on market credit cycles. In addition, the size and timing of other investment gains (losses) can be subject to the companys discretion and are influenced by market opportunities, as well as asset-liability matching considerations. Infrequent or unusual non-operating items are also excluded from net operating income (loss) if, in the companys opinion, they are not indicative of overall operating trends. While some of these items may be significant components of net income (loss) in accordance with GAAP, the company believes that net operating income (loss) and measures that are derived from or incorporate net operating income (loss), are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. However, net operating income (loss) is not a substitute for net income (loss) determined in accordance with GAAP. In addition, the companys definition of net operating income (loss) may differ from the definitions used by other companies. Due to the unpredictable nature of the items excluded from the company's definition of net operating income (loss), the company is unable to reconcile its outlook for net operating income (loss) to net income (loss) presented in accordance with GAAP.
1U.S.

Generally Accepted Accounting Principles

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Cautionary Note Regarding Forward-Looking Statements

This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as expects, intends, anticipates, plans, believes, seeks, estimates, will or words of similar meaning and include, but are not limited to, statements regarding the outlook for the companys future business and financial performance. Forward-looking statements are based on managements current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks, including the following: Risks relating to the companys businesses, including downturns and volatility in global economies and equity and credit markets; downgrades or potential downgrades in the companys financial strength or credit ratings; interest rate fluctuations and levels; adverse capital and credit market conditions (including the impact on the potential extension, replacement or refinancing of the companys credit facilities); the valuation of fixed maturity, equity and trading securities; defaults, downgrades or other events impacting the value of the companys fixed maturity securities portfolio; defaults on the companys commercial mortgage loans or the mortgage loans underlying the companys investments in commercial mortgage-backed securities and volatility in performance; goodwill impairments; defaults by counterparties to reinsurance arrangements or derivative instruments; an adverse change in risk based capital and other regulatory requirements; insufficiency of reserves; legal constraints on dividend distributions by the companys subsidiaries; competition; availability, affordability and adequacy of reinsurance; loss of key distribution partners; regulatory restrictions on the companys operations and changes in applicable laws and regulations; legal or regulatory investigations or actions; the failure of or any compromise of the security of the companys computer systems; the occurrence of natural or man-made disasters or a pandemic; the effect of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act; changes in the accounting standards issued by the Financial Accounting Standards Board or other standard-setting bodies; impairments of or valuation allowances against the companys deferred tax assets; changes in expected morbidity and mortality rate; accelerated amortization of deferred acquisition costs and present value of future profits; reputational risks as a result of rate increases on certain in force long term care insurance products; medical advances, such as genetic research and diagnostic imaging, and related legislation; unexpected changes in persistency rates; ability to continue to implement actions to mitigate the impact of statutory reserve requirements; the failure of demand for long term care insurance to increase; political and economic instability or changes in government policies; foreign exchange rate fluctuations; unexpected changes in unemployment rates; unexpected increases in mortgage insurance default rates or severity of defaults; the significant portion of high loan to value insured international mortgage loans which generally result in more and larger claims than lower loan-to-value ratios; competition with government owned and government sponsored enterprises offering mortgage insurance; changes in international regulations reducing demand for mortgage insurance; increases in mortgage insurance default rates; failure to meet, or have waived to the extent needed, the minimum statutory capital requirements and hazardous financial condition standards; uncertain results of continued investigations of insured U.S. mortgage loans; possible rescissions of coverage and the results of objections to the companys rescissions; the extent to which loan modifications and other similar programs may provide benefits to the company; unexpected changes in unemployment and underemployment rates in the United States; further deterioration in economic conditions or a further decline in home prices in the United States; problems associated with foreclosure process defects in the United States that may defer claim payments; changes to the role or structure of Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac); competition with government owned and government sponsored enterprises offering U.S. mortgage insurance; changes in regulations that affect the U.S. mortgage insurance business; the influence of Fannie Mae, Freddie Mac and a small number of large mortgage lenders and investors; decreases in the volume of high loan to value mortgage originations or increases in mortgage insurance cancellations in the United States; increases in the use of alternatives to private mortgage insurance in the United States and reductions by lenders in the level of coverage they select; the impact of the use of reinsurance with reinsurance companies affiliated with U.S. mortgage lending customers; legal actions under the Real Estate Settlement Procedures Act of 1974; and potential liabilities in connection with the companys U.S. contract underwriting services; Other risks, including the risk that adverse market or other conditions might further delay or impede the planned initial public offering (IPO) of the companys mortgage insurance business in Australia; the possibility that in certain circumstances the company will be obligated to make payments to General Electric Company (GE) under the tax matters agreement with GE even if the companys corresponding tax savings are never realized and payments could be accelerated in the event of certain changes in control; and provisions of the companys certificate of incorporation and bylaws and the tax matters agreement with GE may discourage takeover attempts and business combinations that stockholders might consider in their best interests; and Risks relating to the companys common stock, including the suspension of dividends and stock price fluctuations. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

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