[PPT] - 2016 INVESTOR DAY Smarter M.I. December 7 th , 2016 2016 Investor PowerPoint Presentation

SLIDE 1 1 Genworth MI Canada Inc. 2016 Investor Day December 7th, 2016

2016 INVESTOR DAY Smarter M.I.

SLIDE 2 2 Genworth MI Canada Inc. 2016 Investor Day

Forward-looking and non-IFRS statements

DRIVING VALUE THROUGH CUSTOMIZED SERVICE EXPERIENCE Public communications, including oral or written communications such as this document, relating to Genworth MI Canada Inc. (the “Company”, “Genworth Canada” or “MIC”) often contain certain forward-looking statements. These forward-looking statements include, but are not limited to, statements with respect to the implementation of the changes introduced by the Government and the potential impact on new insurance written, as well as the Company’s future operating and financial results, sales expectations regarding premiums written, capital expenditure plans, dividend policy and the ability to execute on its future operating, investing and financial strategies, the Canadian housing market, and other statements that are not historical facts. These forward-looking statements may be identified by their use of words such as “may”, “would”, “could”, “will,” “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions. These statements are based on the Company’s current assumptions, including assumptions regarding economic, global, political, business, competitive, market and regulatory matters. These forward-looking statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the ability of the Company to control or predict. The Company’s actual results may differ materially from those expressed or implied by such forward-looking statements, including as a result of changes in the facts underlying the Company’s assumptions, and the other risks described in the Company’s Annual Information Form dated March 16, 2016, its Short Form Base Shelf Prospectus dated August 9, 2016, its most recently issued Management’s Discussion and Analysis and all documents incorporated by reference in such documents. Management’s current views regarding the Company’s financial outlook are stated as

f the date hereof and may not be appropriate for other purposes. Other than as required by applicable laws, the Company

undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. To supplement its financial statements, the Company uses select non-IFRS financial measures. Such non-IFRS financial measures include net operating income, operating earnings per common share (diluted), operating return on equity, insurance in-force, new insurance written, loss ratio, delinquency ratio, investment yield, credit score, gross debt service ratio, ordinary dividend payout ratio, and book value per Common Share (diluted) including accumulated other comprehensive income (“AOCI”). The Company believes that these non-IFRS financial measures provide meaningful supplemental information regarding its performance and may be useful to investors because they allow for greater transparency with respect to key metrics used by management in its financial and

perational decision making. Non-IFRS measures do not have standardized meanings and are unlikely to be comparable to any

similar measures presented by other companies. These measures are defined in the Company’s glossary, which is posted on the Company’s website at http://investor.genworthmicanada.ca. A reconciliation from non-IFRS financial measures to the most readily comparable measures calculated in accordance with IFRS, where applicable, can be found in the Company’s most recent Management’s Discussion and Analysis, which is posted on the Company’s website and is also available at www.sedar.com.

SLIDE 3 3 Genworth MI Canada Inc. 2016 Investor Day

Agenda and key themes

Strategic outlook Dynamic risk management Financial strategy and insights Question and answer session

Smarter M.I.

SLIDE 4 4 Genworth MI Canada Inc. 2016 Investor Day

Stuart Levings

President and Chief Executive Officer

Strategic outlook

SLIDE 5 5 Genworth MI Canada Inc. 2016 Investor Day

$3.0 billion*

Market capitalization

92 million

Shares outstanding

$6.6 billion

Total assets

$3.6 billion

Shareholders’ equity

Genworth Canada overview

WHO WE ARE LARGEST private residential mortgage insurer in Canada Helped ~1M+ families achieve homeownership Supported 250+ Canadian lenders WHAT WE DO1 1 2 4 3 Mortgage Application Mortgage Insurance Application and Premium Mortgage Loan Insurance Contract MARKET FACTS (Q3 2016)

Mandatory for less than 20% down payment
Covers 100% of loan, secured by property
Upfront non-refundable premium
Lender receives protection against loss from

mortgage default

Capital relief for lenders

Homebuyer Mortgage lender (originates mortgage) Mortgage insurer Note: Company sources

1. Denotes transactional mortgage insurance. * As at December 2nd, 2016.

SLIDE 6 6 Genworth MI Canada Inc. 2016 Investor Day

Conservative first-time homebuyer profile

Greater Toronto Single-detached residential median prices well below market…. Greater Vancouver Greater Calgary $579k $778k $585k $1.4M $442k $466k Greater Toronto Greater Vancouver Greater Calgary $97k $98k $90k $93k $92k $133k ….with similar household median incomes Genworth Canada Market Genworth Canada Market Source: Genworth internal data, market data median price (CREA); market income (calculated using Stats Canada national income and regional population) Note: % of multiple borrowers and % of borrowers buying condos based on transactional NIW data as at Q3 ’16 YTD. Greater Toronto Greater Vancouver Greater Calgary % of loans with multiple borrowers 70% 72% 70% % of borrowers buying condos 21% 31% 12%

SLIDE 7 7 Genworth MI Canada Inc. 2016 Investor Day

2016 key accomplishments

DRIVING VALUE THROUGH MORTGAGE INSURANCE THOUGHT LEADERSHIP Risk well-distributed; portfolio re-balancing in response to tougher economic environment High quality and diversified insurance portfolio1 Portfolio insurance market leader with approximately 50% market share in 2016 Strong financial performance; 5% increase in quarterly dividend CREDIT SCORE 752 Note: Company sources. Portfolio insurance market share based on Q215-Q216.

1. Credit score references the Q3 2016 YTD timeframe.

2016 loss ratio trending towards lower half of range 25% to 35% range Proactive engagement with regulator to influence new capital framework

SLIDE 8 8 Genworth MI Canada Inc. 2016 Investor Day

Our environment today

Risk Assessment Economic Housing Insurance Portfolio Regulatory Key takeaways

GDP growth projection supportive in 2017 (Canada 2.0%;

US 2.1%)1

Oil prices stabilizing
Housing risk in Toronto and Vancouver remains elevated
Government changes contributing to soft landing
NIW quality & mix remains strong
Mortgage reg. changes to have positive long-term impact
n portfolio quality
Mortgage reg. changes impacting market size, but driving

safety and soundness

New capital framework driving higher capital requirements
Private MI PRMHIA limit increasing to $350 billion

STABLE TO IMPROVING MACROECONOMIC ENVIRONMENT

1. Source: GDP projections sourced from Bank of Canada Monetary Policy Report October 2016.

SLIDE 9 9 Genworth MI Canada Inc. 2016 Investor Day

Regulatory changes

Portfolio insurance ‘Purpose Test’ rules

Moderately lower net

premiums written in the near term Regulatory change Business implications Performance implications Portfolio insurance product restrictions Mortgage rate stress test New capital framework Smaller portfolio insurance market size;

pportunity for private

mortgage insurance Improved portfolio quality Short-term reduction in transactional market size Premium rate increases required to address higher capital

Reduced loss ratio

volatility due to higher premium rates Risk sharing proposal Targeting pricing ROE of ~13%

SLIDE 10 10 Genworth MI Canada Inc. 2016 Investor Day 4% 7% 5% 17% 66%

Impact of rate ‘stress test’

Q3 YTD transactional NIW1 GDS & TDS breach drill-down2 BORROWER BEHAVIOUR EXPECTED TO EVOLVE….REDUCING THE IMPACT OF CHANGES TO 15%-25% OF 2017 TRANSACTIONAL NEW INSURANCE WRITTEN Eligible NIW (within debt servicing limits) Ineligible products TDS > 44% limit Within 200 bps of limit Large proportion impacted by TDS breach only, which is within borrowers’ control to change >200 above limit Borrowers within 200 bps of GDS breach can reduce target house price by ~10% and qualify to make a purchase Both GDS and TDS breach GDS > 39% limit

1. Product exclusions include: refinances, rentals, credit score <600, property value >$1MM excluded.
2. GDS/TDS re-calculated to determine eligibility under 4.64% interest rate

50% 50%

SLIDE 11 11 Genworth MI Canada Inc. 2016 Investor Day

Market evolution

STRONG DESIRE FOR HOMEOWNERSHIP DRIVES MARKET RECOVERY Data Sources: CREA; all data is monthly and as at Q3’16. Existing Canadian home sales (Monthly, number of transactions) Represents regulatory changes to mortgage insurance 20,000 30,000 40,000 50,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Average

2015: minimum down payment requirements

increased for homes >$500,000

2016: new qualifying rate requirements and

product restrictions in portfolio insurance Recent mortgage rule changes

Six rounds of housing rule changes

since 2008

Housing activity typically rebounds

within 6-12 months of change

House price appreciation should return

to more sustainable levels in 2017

SLIDE 12 12 Genworth MI Canada Inc. 2016 Investor Day Maintain strong capital and profitability Prudent growth focus Risk management discipline

Strategic priorities

RESOURCES ALIGNED TO ADDRESS DYNAMIC ENVIRONMENT AND CAPITALIZE ON NEW OPPORTUNITIES Key outcomes Modest market share accretion High quality, diversified portfolio Capitalize on new

pportunities

Appropriately priced risk Strategic priorities Key risks Economic Insurance Portfolio Regulatory Housing Influence government policy

SLIDE 13 13 Genworth MI Canada Inc. 2016 Investor Day

Strategic execution

BUILDING ON SOLID BUSINESS FUNDAMENTALS

1

Invest in process innovation to drive prudent market share expansion

4

Leverage government relations strategy to influence regulatory environment

3

Maintain risk management and expense discipline

2

Drive pricing strategy for appropriate premium rates and timing of implementation

5

Explore private mortgage insurance strategy to differentiate MIC’s offerings

SLIDE 14 14 Genworth MI Canada Inc. 2016 Investor Day

MIC investment thesis

How we measure success Market share High quality, diversified portfolio EPS, ROE and BVPS growth Strong employee engagement Potential for top-line growth through market size recovery, share growth, and premium rate increases Seasoned risk management experience and high quality portfolio ROE improvement and emerging business

pportunities

PROVEN BUSINESS MODEL AND DEEP MORTGAGE INSURANCE EXPERTISE Sound product design and strong regulatory environment

SLIDE 15 15 Genworth MI Canada Inc. 2016 Investor Day

Craig Sweeney

Senior Vice President and Chief Risk Officer

Dynamic risk management

SLIDE 16 16 Genworth MI Canada Inc. 2016 Investor Day

Insurance risk framework

Portfolio analytics
Identification of emerging loss

trends

Dynamic underwriting guidelines
Proactive loss mitigation

Portfolio risk management

Underwriting fundamentals
Risk limits and triggers
Proprietary mortgage scoring

model

Robust quality assurance

Manage the quality

f new business

RISK PILLARS

Macro-economic environment
Housing market trends
Regional risk factors

Identify & assess key risks Strong regulatory framework

Defined underwriting best practices (OSFI’s B20 / B21 guidelines support

safety and soundness)

Borrower recourse
Efficient and effective mortgage foreclosure process
Risk-sensitive capital framework

REGULATORY & LEGAL FRAMEWORK

SLIDE 17 17 Genworth MI Canada Inc. 2016 Investor Day

Drivers of losses on claims

UNEMPLOYMENT & PORTFOLIO QUALITY DRIVE PROBABILITY OF DEFAULT Mortgage arrears and unemployment rate

2. Portfolio quality

0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 Mortgage Arrears UE Rate (R) Strong correlation

1. Unemployment
3. House prices

200 250 300 350 400 450 500 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 MIC Market Median house price appreciation (‘$000s) PRICE APPRECIATION & EFFECTIVE LTV DRIVE LOSS GIVEN DEFAULT 49% 48% 64% 68% 72% 76% 81% 86% 91% 40% 50% 60% 70% 80% 90% 100% Portfolio <=2009 2010 2011 2012 2013 2014 2015 Q3'16 YTD Bulk Transactional O/S Insured Mortgage Balances ($B) $101 $19 $8 $9 $12 $14 $19 $8 $9 $18 $24 $16 $102 Effective LTV ($223B outstanding insured mortgage balance, national, as at September 30, 2016) Sources: (UE Rate) Statistics Canada, (Mortgage arrears) Canadian Bankers Association, (Eff LTV) Company sources; (Median price) CREA All data as at Q3’16 except mortgage arrears (Q2’16). Book year

SLIDE 18 18 Genworth MI Canada Inc. 2016 Investor Day 100 120 140 160 180 200 38 40 42 44 46 2007 2009 2011 2013 2015 2017 F Affordability (L) 5.0% 6.0% 7.0% 8.0% 9.0%

4%
3%
2%
1%

0% 1% 2% 3% 4% 2007 2009 2011 2013 2015 2017 F GDP growth expected to improve in 2017. Unemployment rate expected to be relatively stable

Canadian environment

Flat to modest house price depreciation expected in 2017 STABLE TO IMPROVING MACROECONOMIC ENVIRONMENT GDP Growth (L) UE Rate (R) Average Teranet Index (R) Economic Indicators Housing Affordability1 (Aggregate) Data sources: GDP & Unemployment Rate (Statistics Canada); Teranet Index (Teranet); Affordability (RBC Economics); 2017 forecast as per management discretion. 1 . Affordability measures the proportion of median pre-tax household income needed to service mortgage payments (P+I), property taxes and utilities. Aggregate refers to all property types.

SLIDE 19 19 Genworth MI Canada Inc. 2016 Investor Day

Regional risk assessment

Note: Based on Company’s estimates of housing and economic risk. Improving economic forecast for Alberta and Prairies regions Elevated housing risk in GTA Balanced risk profile in Quebec and Ontario Housing risk Economic risk Low High High GTA GVA Quebec Alberta Atlantic Ontario (ex GTA) Prairies Key Indicators

Overvaluation
Affordability
Price-to-

income

Supply/

demand Key Metrics: GDP Forecast; UE Rate; Economic diversity Pacific (ex GVA) Denotes 2017 expectations

SLIDE 20 20 Genworth MI Canada Inc. 2016 Investor Day Portfolio Insurance

Outstanding insured mortgage balances

EMBEDDED EQUITY REDUCES OVERALL RISK IN PORTFOLIO Transactional Insurance Outstanding insured mortgage balance $121B (effective LTV by loan bucket, % of transactional business) Outstanding insured mortgage balance $102B (effective LTV by loan bucket, % of portfolio business) Note: based on Company’s estimate of outstanding balance of insured mortgages as at September 30, 2016 of $223B. 21% 12% 13% 54% > 90% 85.01-90% 80.01-85% <= 80% 7% 12% 12% 69% > 75% 70.01-75% 65.01-70% <= 65%

SLIDE 21 21 Genworth MI Canada Inc. 2016 Investor Day

Strong portfolio quality – credit score

PORTFOLIO QUALITY SIGNIFICANTLY IMPROVED COMPARED TO ‘07/08 Note: Company sources for transactional new insurance written. Canada Greater Vancouver Area 16% 3% 716 752 '07 '08 '09 '10 '11 '12 '13 '14 '15 Q3'16 YTD % Score <660 (R) Avg score (L) Greater Toronto Area 16% 2% 714 759 '07 '08 '09 '10 '11 '12 '13 '14 '15 Q3'16 YTD % Score <660 (R) Avg score (L) 13% 2% 719 756 '07 '08 '09 '10 '11 '12 '13 '14 '15 Q3'16 YTD % Score <660 (R) Avg score (L)

SLIDE 22 22 Genworth MI Canada Inc. 2016 Investor Day

Limiting stacked risk factors

DYNAMIC RESPONSE TO INCREASED ECONOMIC AND HOUSING RISK IN 2016 67% 26% 4% 2% >90-95 >85-90 >80-85 >75-80 <=75 95 LTV – credit score 3% 4% 7% 24% 35% 26% <=660 <=680 <=700 <=740 <=780 780+ 29% 34% 21% 16% >40 >35-40 >30-35 <=30% 95 LTV – TDSR Stacked risks (% of NIW) Halifax Montreal Ottawa Toronto Calgary Vancouver National 2016 0.6% 0.1% 0.4% 0.3% 0.5% 0.2% 0.4% 2015 0.8% 0.8% 1.2% 0.7% 0.9% 0.8% 1.0% LTV mix - transactional Note: Company sources. 2016 stacked risks based on Oct‘15 to Sep‘16 New Insurance Written (NIW), purchase only, excludes Alt-A. 2015 stacked risks based on July ‘14 to June ‘15 New Insurance Written (NIW), purchase only deal, excludes Alt-A. Stacked Risk = >90% LTV and <= 660 score and >40 total debt service ratio (TDSR).

SLIDE 23 23 Genworth MI Canada Inc. 2016 Investor Day

Early term delinquency trend

Note: Company sources as at Q3’16; MI (transactional) data only.

1. *Represents loans that go into delinquency status within the first 12 months.

12-month Delinquency Rate (DR) Trend1 RISK MANAGEMENT PROCESSES DRIVE BETTER PORTFOLIO QUALITY

Measure of underwriting quality and

potential borrower misrepresentation

B20/B21 guidelines support strong

underwriting discipline

Key MIC risk processes and controls;
Lender underwriting quality assurance
Industry information sharing
Collateral model tests for inflated values

0.00% 0.02% 0.04% 0.06% 0.08% 0.10% 0.12% 0.14% 0.16% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 '16 YTD 12-Month DR

SLIDE 24 24 Genworth MI Canada Inc. 2016 Investor Day

Proactive risk management

GEOGRAPHICALLY DIVERSIFIED … ALBERTA EXPOSURE REDUCED TO 17% Note: Company sources.

1. NIW represents new insurance written.
2. Pacific includes BC and Territories.

Regional Highlights Increased focus on appraisals and quality of real estate in Greater Vancouver Area 38% 37% 39% 42% 25% 27% 23% 17% 14% 12% 12% 13% 10% 12% 13% 14% 13% 13% 12% 13% 2013 2014 2015 2016 YTD Ontario Alberta Quebec Pacific Other Regional NIW1 dispersion (Transactional)2 Underwriting actions resulting in smaller but better quality Alberta portfolio in 2016 Strong economic conditions in

Ontario. Key growth region in

2016 & 2017

SLIDE 25 25 Genworth MI Canada Inc. 2016 Investor Day Highlights

Alberta: improving portfolio quality

ALBERTA PORTFOLIO QUALITY SIGNIFICANTLY IMPROVED COMPARED TO ‘07/08 Credit score Gross debt service ratio (%) 17% 2% 713 754 '07 '08 '09 '10 '11 '12 '13 '14 '15 Q3'16 YTD % Score <660 (R) Avg score (L) Steady credit score improvement year-

ver-year

Stable home prices for First Time Homebuyer Relatively stable GDS from Alberta borrowers Note: Company sources for transactional new insurance written. Median home price (In ‘$000s) $303 $315 $300 $319 $320 $328 $338 $355 $360 $354 $270 $280 $290 $300 $310 $320 $330 $340 $350 $360 $370 '07 '08 '09 '10 '11 '12 '13 '14 '15 Q3'16 YTD 25% 25% 24% 25% 25% 24% 24% 25% 25% 25% '07 '08 '09 '10 '11 '12 '13 '14 '15 Q3'16 YTD

SLIDE 26 26 Genworth MI Canada Inc. 2016 Investor Day 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 63 66 69 72 75 78 81 84 87 90 93 96 99 102 105 108 111 114 117 120 2007 2008 2009 2010 2011 2012 2013 2014 Book year delinquency development

2007/08 books experienced

significant economic and housing stress Note: delinquency rate based on original insurance in-force.

2011-14 books benefitting

from strong portfolio quality and more stable economic environment

Positive seasoning trends

SLIDE 27 27 Genworth MI Canada Inc. 2016 Investor Day

Delinquency performance

1,177 1,415 1,232 1,047 735 619 517 396 385 383 349 331 108 240 388 493 481 344 296 270 181 187 166 163 165 484 862 1,048 722 437 284 222 303 424 467 617 413 561 645 552 554 515 482 569 624 656 578 504 183 240 254 261 260 238 251 299 336 384 401 412 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q1 '16 Q2 '16 Q3 '16 Number of reported delinquencies Loss Ratio2 19% 31% 42% 33% 37% 33% 25% 20% 21% 24% 21% 25% 3,381 3,401 2,752 2,153 1,830 1,756 1,829 2,940 2,046 Ontario BC Alberta Quebec Other

Sep. 30, 2016

delinquency rate1 0.34% 0.34% 0.40% 0.14% 0.08% Note: Company sources.

1. Based on outstanding insured mortgages as at Sep. 30, 2016.
2. Loss ratio in 2009 excludes the impact of the change to the premium recognition curve in the first quarter of 2009.

2,034 0.21% Total 8% 61% 23% 8% Portfolio insurance Core transactional products Refinance >80% LTV 100% LTV Products Eliminated 2010 delinquency mix by product Elimination of higher risk products 1,961 2,027

SLIDE 28 28 Genworth MI Canada Inc. 2016 Investor Day 0% 10% 20% 30% 40% 50% 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8% 0.9% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q3 YTD 2016 Canada loss ratio - MIC (RS) Canada DR-CBA Alberta DR-CBA

2017 annual loss ratio expectations

MIC loss ratio & CBA delinquency rates PRELIMINARY 2017 ANNUAL LOSS RATIO RANGE: 25% TO 35% Preliminary 2017 Loss Ratio Range

WTI price-per-barrel in the

$40-60 US range

Canadian dollar remains

stable in the 70-80 cent range

Modest increase in mortgage

interest rates 2017 assumptions UE Rate House Prices Alberta ~8.1% (4.0%) National ~7.2% (2.0%) Note: 2017 assumptions based on Company estimates; denote exit rates. Data Sources: Canadian Bankers Association, Company sources; all data as at Q3’16 except CBA delinquency rates (Q2’16) 2009 excludes the impact of the change to the premium recognition curve in Q1’09

SLIDE 29 29 Genworth MI Canada Inc. 2016 Investor Day

Key takeaways

Prudent risk management

Underwriting actions reducing risk Well positioned to address regional economic pressures 2017 annual loss ratio range: 25% to 35% Strong portfolio quality

SLIDE 30 30 Genworth MI Canada Inc. 2016 Investor Day

Philip Mayers

Senior Vice President and Chief Financial Officer

Financial strategy and insights

SLIDE 31 31 Genworth MI Canada Inc. 2016 Investor Day $1,971 $1,902 $1,824 $1,785 $1,724 $1,799 $2,021 $2,136 2009 2010 2011 2012 2013 2014 2015 Q3'16 $22.40 $24.44 $26.94 $30.62 $32.53 $35.02 $36.82 $39.01 2009 2010 2011 2012 2013 2014 2015 Q3'16 2009 2010 2011 2012 2013 2014 2015 2016

Creating shareholder value

Operating earnings per share (C$, diluted) Book value per share (C$, including AOCI, diluted) Unearned premiums reserve (C$ millions) EPS (net of dividends)2 Ordinary dividends paid Buybacks & special dividends (C$ millions) EMBEDDED PROFITS IN $2.1 BILLION UNEARNED PREMIUMS RESERVE DRIVING ONGOING PROFITABILITY $2.67 $3.02 $3.08 $3.43 $3.60 $3.86 $4.05 $3.09 Total EPS 9% CAGR Unearned premiums growth driven by strong recent top-line Seven consecutive years of EPS growth 7% CAGR1

1. EPS CAGR represents compounded annual growth rate from 2009 to 2015.
2. 2013 operating EPS excludes the impact of the government guarantee exit fee reversal. Reported operating EPS (diluted) in 2012 was $4.67. 2009 operating EPS

excludes the impact of the change to the premiums earned recognition curve. Reported operating EPS (diluted) in 2009 was $3.01. 325 209 105 116 50 3Q YTD

SLIDE 32 32 Genworth MI Canada Inc. 2016 Investor Day

Strong balance sheet

($ millions)

Sept. 30,

2016

Dec. 31,

2015 Assets Cash and investments $ 6,248 $ 5,917 Other assets 338 322 Total assets $ 6,586 $ 6,239 Liabilities Loss reserves 161 132 Unearned premiums 2,136 2,021 Long-term debt 433 433 Other liabilities 233 233 Total liabilities 2,963 2,819 Shareholders’ equity (incl. AOCI) 3,623 3,420 Total liabilities and shareholders’ equity $ 6,586 $ 6,239 Strong capital position to support transition to new capital framework $2.1 billion of unearned premiums could include significant embedded profits Translates to over $7 of unrecognized book value per share High quality investment portfolio ~95% investment grade fixed income Note: Amounts may not total due to rounding. STRONG FINANCIAL FOUNDATION….SIGNIFICANT EMBEDDED FUTURE PROFITS Unearned premiums* $2.1 B Future losses & expenses (1.2) Future pre-tax income 0.9 Future net income contribution $0.7 B *Assumes future combined ratio of 55%

SLIDE 33 33 Genworth MI Canada Inc. 2016 Investor Day 2014 and prior years 2014 and prior years 2015 2015 2016 2016 2016 2017 illustration from premiums earned 526 483 447 555 703 470 19 77 65 85 106 118 2011 2012 2013 2014 2015 YTD Q3 2016

Premiums earned growth

PREMIUMS EARNED EXPECTED TO GROW MODESTLY IN 2017…. .... AFTER Q3‘16 YTD INCREASE OF 9% YEAR-OVER-YEAR Premiums written (C$, millions, by type of business) Earnings curve Premiums earned (Contribution by book year)1 Transactional Portfolio 545 560 512 640 809 588 Years 3Q YTD Increasing Decreasing Q4/16 and 2017 premiums written1 Run-off of unearned premiums reserve will drive 2017 premiums earned Q4/16 premiums written1 2016 0% 5% 10% 15% 20% 25% 30% 1 2 3 4 5 6 7 8 9 Note: Earnings curve assumes no material change in the curve with respect to above depiction. 1 Estimates of Q4/16 and 2017 premiums written are for illustrative purposes only and are not to scale.

SLIDE 34 34 Genworth MI Canada Inc. 2016 Investor Day 32% 16% 35% 6% 6% 5% Federals Provincials Preferred shares Emerging markets debt3 Investment grade corporates2 Cash & short term investments

High quality investments

Duration: 3.8 years Book yield: 3.2%1 Invested assets (C$ millions, unless noted) Note: Company sources.

1. Book yield represents pre-tax equivalent book yield after dividend gross-up of portfolio (as at September 30, 2016).
2. Market value, includes CLOs

Total invested assets (Market value of $6.2 billion) Industry / Sector concentration $5,917 $5,867 MAINTAINING QUALITY FOCUS IN LOW RATE ENVIRONMENT $104 million of maturities in Q4 2016 and a further $471M in 2017 5,641 5,940 276 305 Q4 2015 Q3 2016 Book value Net unrealized gain $5.9B $6.2B Corporate bonds & emerging market debt (41% of portfolio) Preferred shares (6% of portfolio) 58% 24% 15% 3% 41% 40% 9% 5% Pipelines & Distribution Energy Financials Industrials, Utilities & Other 4% Infrastructure Pipelines & Distribution Energy Financials Industrials, Utilities & Other

SLIDE 35 35 Genworth MI Canada Inc. 2016 Investor Day

Investments generate steady income stream

AUM (C$B) 4.3 5.4 5.4 5.4 5.9 6.2 Pre-tax book yield1 4.3% 4.0% 3.7% 3.5% 3.3% 3.2% After-tax book yield 2.4% 2.4% Historical performance Investment priorities Based on forward curve at Dec. 1, 2016 Current book yield1 Current duration

Sept. 30/16

(years) 1-year forward rates2 Cash & short-term 0.51% 0.1 0.50% Federal agency bonds3 2.10% 3.8 2.05% Provincial gov’t bonds 3.50% 4.8 2.00% Corporate bonds (Single A) 3.30% 3.5 2.05% Emerging market debt 3.69% 5.5 3.60% Preferred shares 6.70% 4.9 6.70% Total 3.20% 3.8 Interest & dividend income Net gains

Targeting book yield around 3.2% with duration around 3.8 years
Rate reset preferred shares offer higher yields and negative correlation to rising interest rates
Hedging a portion of interest rate risk using fixed-for-floating swaps (approx. 45% currently hedged)

$171 $169 $179 $173 $169 $130 $7 $12 $37 $22 $32

$9

2011 2012 2013 2014 2015 2016

1. Pre-tax equivalent yield including gross-up of dividend income.
2. As at December 1, 2016. 3. Federal government bonds constitute government agency bonds and NHA MBS.

Yield and duration (by asset class) 3Q YTD

SLIDE 36 36 Genworth MI Canada Inc. 2016 Investor Day

Overview of new capital framework

Unearned Premiums

Reserve

Reserve for Incurred But

Not Reported Losses on Claims Premium Liabilities Triggered When Price to Income Metric Exceeds OSFI Prescribed Threshold:

Toronto
Vancouver
Calgary
Edmonton
Victoria

Supplementary Requirement More Risk Sensitive Based

n:
Outstanding Balance
Modified LTV (outstanding

balance / original property value)

Remaining Amortization
Credit Score

Base Requirement Total Assets Required = = Capital Required for Insurance Risk CREATES APPROPRIATE PRICING INCENTIVE .... FOR EXAMPLE, HIGHER PREMIUM RATE REDUCES CAPITAL REQUIREMENT

+

SLIDE 37 37 Genworth MI Canada Inc. 2016 Investor Day

New capital framework LTV illustration

$0 $5,000 $10,000 $15,000 $20,000 $25,000 1 2 3 4 5 6 7 8 9 10 11 12 Total Asset Requirement at Origination

Premium rate increases likely in 2017 in response to higher capital levels from proposed base and

supplementary requirement Table above based on Sept. 23rd, 2016 OSFI draft advisory entitled “Capital Requirements for Federally Regulated Mortgage Insurers”. * New Base Requirement and New Combined Base & Supplementary Requirement are shown at 150% MCT. ** Current Required Capital for insurance risk is calculated at 220% MCT. Highlights Draft framework increase in required assets (mix

f price increase and increased capital)

Gross Written Premium / unearned premiums reserve at origination New Base Requirement at 150% MCT* (Current Economic Environment) Supplementary Requirement at 150% MCT* (Select Housing Markets) Current Required Capital for Insurance Risk under 2016 MCT** Basic Loan-to-Value at Origination (Current MCT guideline) Total Asset Requirement by LTV (new vs. current framework, by LTV) at origination (730 credit score at issue; $300k mortgage) 65 75 80 85 90 95

SLIDE 38 38 Genworth MI Canada Inc. 2016 Investor Day

2,000

4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 1 13 25 37 49 61 73 85 97 109 121

New framework – Runoff by LTV

Modified LTV as loan ages (730 credit score at issue; $300k mortgage)

Total asset requirement is very sensitive to modified LTV and diminishes over 5-8 years as modified LTV

approaches 55% to 60% Highlights Total asset requirement run-off1 (730 credit score, $300k mortgage) Total asset requirement Months 95% LTV 65% LTV 90% LTV 85% LTV 80% LTV 75% LTV 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 1 13 25 37 49 61 73 85 97 109 121 133 145 157 169 181 193 205 217 229 241 253 Months 65% LTV 75% LTV 80% LTV 85% LTV 90% LTV 95% LTV 55% level Annual prepayments 1% Full repayments Year 1 0% Year 2 4% Year 3 8% Year 4 10% Year 5 and after 12% Prepayment / full repayment assumptions Charts above based on Sept. 23rd, 2016 OSFI draft advisory entitled “Capital Requirements for Federally Regulated Mortgage Insurers”.

1. New Base Requirement 150% MCT.

SLIDE 39 39 Genworth MI Canada Inc. 2016 Investor Day

5,000

10,000 15,000 20,000 25,000 30,000 35,000 1 13 25 37 49 61 73 85 97 109 121

5,000

10,000 15,000 20,000 25,000 30,000 35,000 1 13 25 37 49 61 73 85 97 109 121

New framework – credit score impact

<=600 600 to 619 620 to 639 640 to 659 660 to 679 680 to 699 700 to 719 720 to 739 740 to 759 760 to 779 >=780 Total Requirement at Issue Credit Score at Issue % of YTD ‘16 transactional business2 1 1 1 2 3 4 6 9 13 59 Credit score multiplier for total asset requirement New base requirement CREDIT SCORE MULTIPLIER DRIVES MATERIALLY HIGHER CAPITAL AS SCORES DECREASE….STRONG CREDIT SCORE IS BENEFICIAL Total asset requirement run-off1 by credit score ($300k mortgage) 690 credit score 690 credit score 730 credit score 730 credit score 770 credit score 770 credit score Total asset requirement Months 4.6x 3.2x 2.8x 2.5x 2.1x 1.7x 1.4x 1.0x 0.9x 0.7x 0.6x Multiplier to 730 credit score Total asset requirement Months 80% basic LTV 95% basic LTV Based on highest credit score for multiple borrowers Charts above based on Sept. 23rd, 2016 OSFI draft advisory entitled “Capital Requirements for Federally Regulated Mortgage Insurers”.

1. New Base Requirement 150% MCT.
2. Credit Score: As at Sept16. Credit Score bucket based on highest Trans Union Credit Score for all borrowers on the file at time of application.

SLIDE 40 40 Genworth MI Canada Inc. 2016 Investor Day Today Future Today Future

New framework – pricing implications

Transactional insurance new business (% of loan) EXPECT 10-15%+ AVERAGE TRANSACTIONAL INSURANCE PRICE INCREASE IN 2017 Portfolio insurance new business (% of loan) EXPECT 2X OR HIGHER PORTFOLIO INSURANCE PRICE INCREASE IN 2017 Charts above based on Sept. 23rd, 2016 OSFI draft advisory entitled “Capital Requirements for Federally Regulated Mortgage Insurers”.

1. IBNR is Incurred But Not Required Reserve

Current framework New framework Capital Premium Capital Premium Capital Required for Insurance Risk = Total Asset Requirement less Unearned Premiums and IBNR1 Current framework New framework Target Pricing ROE of ~13%

SLIDE 41 41 Genworth MI Canada Inc. 2016 Investor Day

New framework  MCT implications

220% holding target being recalibrated to 150% supervisory target
Preliminary new internal target of 155% - 157% represents $125 - $175 million above supervisory minimum

MCT Framework (%) Current framework New framework Holding target 220% Gov’t guarantee minimum / supervisory target 175% 150%1 Internal target 185% 155% - 157% (preliminary) Operating range 225%+ 160%+ Dollar value per point of MCT ~$15 million ~$25 million Highlights

1. Company expectations for government guarantee minimum.

SLIDE 42 42 Genworth MI Canada Inc. 2016 Investor Day Sept 30 2016 Actual Sep 30 2016 Pro-forma 2017 illustration

New framework  Pro-forma MCT

Insurance risk Holding target Supervisory target & expected government guarantee minimum 220% 150% Excess above target Operational risk Market risk Legacy transactional <= 25 yr. amortization & other insurance risk Legacy portfolio & transactional extended amortization 2017 books 236% 160%+ 155-158% Capped at 2016 level Immediate transition to new framework Insurance risk MCT New Framework (C$, millions)

Targeting operating with MCT above 160% in 2017
Transitional provisions cap capital requirements for legacy portfolio insurance & extended amortization

business at Dec. 31, 2016 level (220% MCT)

Lower capital requirements for market and operational risk due to reduction in internal target

Highlights

SLIDE 43 43 Genworth MI Canada Inc. 2016 Investor Day

Capital management strategy

Funding organic growth with MCT > 157% Capital priorities Maintaining modest leverage of <= 15% Capital strength At Q3 2016:

Pro-forma MCT of 155%-158%
11% debt-to-capital

Holding company cash and liquid investments > $100 MM Credit facility of $100 MM Capital flexibility At Q3 2016:

Holdco cash and liquid investments of $181

million

$100 MM undrawn credit facility

Sustainable

rdinary dividend

Return of capital when excess capital available Capital efficiency At Q3 2016:

Increased ordinary dividend by 5%
Payout ratio of 41%

SLIDE 44 44 Genworth MI Canada Inc. 2016 Investor Day

ROE drivers

ROE drivers 2016 ROE ~11% Year New capital framework for legacy books Impact of price increases Interest rate outlook Capital management initiatives 2017 Neutral 2018 2019 TARGETING 12%+ ROE IN THE MEDIUM TERM

+

+ + + + + + + + +

SLIDE 45 45 Genworth MI Canada Inc. 2016 Investor Day

Key takeaways

Proven business model has positioned MIC for future financial performance

Smaller MI market size could lead to moderate decline in premiums written in 2017, despite expected higher premium rates Managing capital to greater than 160% MCT under new framework Premiums earned expected to modestly increase in 2017 due to large recent books

f business

Estimated 25% to 35% loss ratio range for 2017 Investment income expected to be relatively flat in 2017

SLIDE 46 46 Genworth MI Canada Inc. 2016 Investor Day

Stuart Levings

President and Chief Executive Officer

Wrap up

SLIDE 47 47 Genworth MI Canada Inc. 2016 Investor Day

Key takeaways

Solid business model Strong regulatory environment Disciplined risk management

MIC is well-positioned for future success

Robust profitability drivers M.I. thought leadership

SLIDE 48 48 Genworth MI Canada Inc. 2015 Investor Day

Q A

SLIDE 49 49 Genworth MI Canada Inc. 2015 Investor Day

Senior management team

Stuart Levings, President & CEO 15+ years of mortgage insurance experience

Mr. Levings assumed his current role as President and Chief Executive Officer in January
2015. Prior to that Mr. Levings served in such senior leadership positions as Senior Vice

President, Chief Operating Officer, Senior Vice President, Chief Operations Officer and Senior Vice President, Chief Risk Officer. Mr. Levings joined the Company in July 2000 as the Financial Controller, and has also held positions in finance and product development, including five years as Chief Financial Officer. Before that, Mr. Levings spent seven years with Deloitte & Touche. Mr. Levings holds a CPA, CA professional designation with over 15 years of professional experience in a variety of industry sectors. Mr. Levings holds a Bachelor of Accounting Science degree from the University of South Africa and is a member of both the South African and Canadian Institutes of Chartered Accountants. Philip Mayers, SVP & Chief Financial Officer 25+ years of mortgage insurance experience

Mr. Mayers became Chief Financial Officer of the Company in 2009. He has over 25

years of finance and general management experience in financial services businesses. Since joining the Company in 1995, Mr. Mayers has held several senior positions, including Vice President, Finance, Vice President, Operations, and Senior Vice President, Business Development. Prior to joining the Company, he held finance positions with Mortgage Insurance Company of Canada (“MICC”), Esso Petroleum Canada and Deloitte & Touche. He holds CPA, CA and CMA professional designations and has a Master of Accounting degree from the University of Waterloo.

SLIDE 50 50 Genworth MI Canada Inc. 2015 Investor Day

Senior management team

Craig Sweeney, SVP & Chief Risk Officer 15+ years of mortgage insurance experience

Mr. Sweeney has more than 18 years of professional experience in the mortgage and

banking industry. Since joining the Company in 1998, Mr. Sweeney has held senior positions in Operations and Business Development, including Director of Risk Operations and Director of Product Development. Mr. Sweeney received an honours Bachelor of Arts degree in Economics from Carleton University in 1994. Winsor Macdonell, SVP, General Counsel & Secretary 15+ years of mortgage insurance experience

Mr. Macdonell is responsible for all of the Company’s legal and compliance matters, as

well as government relations. Mr. Macdonell joined the Company in 1999. He was called to the Bar in Ontario in 1994. Prior to joining the Company, he spent three years in the life and property and casualty industry, and prior to that was in private practice. Mr. Macdonell received an honours Bachelor of Commerce degree from Queens University in 1988 and his LL.B. from Dalhousie University in 1992 and his ICD.D in 2014.

SLIDE 51 51 Genworth MI Canada Inc. 2015 Investor Day

Senior management team

Debbie McPherson, SVP, Sales and Marketing 25+ years of mortgage insurance experience

Ms. McPherson has over 25 years of experience and success in sales and quality

management with the Company. Prior to her current position, Ms. McPherson was the Company’s Ontario Regional Sales Director. Ms. McPherson plays an active role in many industry organizations, including the Canadian Association of Accredited Mortgage Professionals, the Canadian Homebuilders Association and the Canadian Real Estate

Association. Ms. McPherson graduated from the University of Toronto with a Bachelor of

Arts degree. Scott Gorman, SVP, Operations 15+ years of experience

Mr. Gorman has more than 19 years of International Industry and Consulting experience

within the Financial Services Industry. Prior to joining Genworth Canada, Mr. Gorman worked for TD Financial Group as VP, Head of Card Operations & Initiatives, and Royal Sun Alliance (RSA) as the Regional Chief Operating Officer for their Asia and Middle East Region as well as VP of RSA’s Canadian National Operations. Mr. Gorman has a Bachelor’s of Commerce from Memorial University of Newfoundland and an MBA from Schulich School of Business, York University.

SLIDE 52 52 Genworth MI Canada Inc. 2015 Investor Day

Senior management team

Mary-Jo Hewat, SVP, Human Resources and Facilities 20+ years experience

Ms. Hewat brings over 20 years of human resources expertise spanning numerous

industries and geographies. Ms. Hewat assumed her current role of Senior Vice President, Human Resources and Facilities in May, 2016. Prior to joining Genworth Canada, she was Senior Vice President, HR Business Partnerships at Ontario Municipal Employees Retirement System (OMERS) as well as Vice President, Human Resources. Her career has also included senior HR roles with Sherritt and Hudson’s Bay. Ms. Hewat has a Bachelor of Commerce from Ryerson University and a Masters in Business Administration from the Schulich School of Business, York University. Brian Hurley, Executive Chairman 20+ years of mortgage insurance experience

Mr. Hurley led the establishment of Genworth into the Canadian marketplace in 1994 and

later led it through its initial public offering in 2009. He stepped down as President and CEO of Genworth Canada and assumed the role of Executive Chairman in January 2015.

Mr. Hurley has more than 20 years of senior management experience in the mortgage

insurance industry worldwide, including leading Genworth’s activities in key international markets from 2004 to 2009. Prior roles include Senior VP, International of General Electric’s U.S. mortgage insurance business and Senior VP of Sales and Operations. Mr. Hurley graduated from Assumption College in Worcester, Massachusetts with a Bachelor

f Science degree in Economics.

SLIDE 53 53 Genworth MI Canada Inc. 2015 Investor Day investor@genworth.com investor.genworthmicanada.ca

Investor Relations

Jonathan A. Pinto, MBA, LL.M

Vice President, Investor Relations jonathan.pinto@genworth.com 905.287.5482