GenworthMI Canada BUILDING ON GROWTH MOMENTUM

MIC Fixed Income Presentation – March 24, 20141 1
Genworth MI Canada Inc.
Genworth MI Canada
Genworth MI Canada BUILDING ON GROWTH MOMENTUM
MAY 2015

Genworth MI Canada > FORWARD-LOOKING AND
NON-IFRS STATEMENTS
This presentation relating to Genworth MI Canada Inc. (the “Company”, “Genworth Canada” or “MIC”) includes certain forward-looking
statements. These forward-looking statements include, but are not limited to, statements with respect to the Company’s future
operating and financial results, expectations regarding premiums written, losses on claims and investment income, 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 control of the Company. 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 23, 2015, its Short Form Base Shelf Prospectus dated June 18, 2014, the Prospectus Supplements thereto, its most
recently issued Management’s Discussion and Analysis and all documents incorporated by reference in such documents. 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. Non-IFRS financial measures include net
operating income, interest and dividend income (net of investment expenses), operating earnings per common share (basic), operating
earnings per common share (diluted), shareholders’ equity excluding accumulated other comprehensive income (“AOCI”), operating
return on equity and underwriting ratios such as loss ratio, expense ratio and combined ratio. 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 operational 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.

Genworth MI Canada
LARGEST PRIVATE RESIDENTIAL
MORTGAGE INSURER IN CANADA
Since 1995 helped 1.5 million families COAST
TO COAST achieve homeownership.
We support more than 250 Canadian lenders.
MARKET FACTS (as at March 31, 2015)
$5.9 billion Total Assets
$3.4 billion Shareholders’ Equity
$3 billion Market Capitalization
93 million Shares Outstanding
COMPETITIVE STRENGTHS
Strong
Market
Presence
Long-Standing
Customer
Relationships
Best-in Class
Technology
and Processes
Prudent Risk
Management
Impressive
Long-Term
Track Record
Experienced
and Engaged
Workforce
> WHO WE ARE

Genworth MI Canada
> STRONG PERFORMANCE
0.22
0.26
0.29
0.32
0.35
0.15
0.25
0.35
0.45
Dividends Paid/Share
2010
2011 2012 2013 2014
$2.67
$3.02
$3.08
$3.43
$3.60
$3.86
$0.00 $1.00 $2.00 $3.00 $4.00 $5.00
09
10
11
12
13
14
Operating earning per share
(diluted)
$22.40
$24.44
$26.94
$30.62
$32.53
0 5 10 15 20 25 30 35
09
10
11
12
13
14
Book value per share
(diluted, including AOCI)
13%
14%
13%
13%
12%
12%
0% 5% 10% 15%
09
10
11
12
13
14
Operating return on equity
(%)
2009
Q3
$35.02
0.39
*Excludes the impact of the change to the premium recognition curve in Q1 2009
*

Genworth MI Canada
> MISSION AND VISION
OUR MISSION
Working with our lender partners, regulators and influencers we
› help people responsibly achieve and maintain the dream of
homeownership
› promote strong and sustainable communities across Canada
While enhancing stakeholder value
OUR VISION
CANADA’S MORTGAGE INSURER OF CHOICE

Genworth MI Canada > COMPETITIVE STRENGTHS
AND GROWTH CATALYSTS
Strong
Market
Presence
Long-Standing
Customer
Relationships
Best-in Class
Technology
and Processes
Prudent Risk
Management
Impressive
Long-Term
Track Record
Experienced
and Engaged
Workforce
Market Share Market Size
Premium
Rates
Adjacent
Opportunities
GROWTH CATALYSTS
FOCUS ON PEOPLE, RISK AND TECHNOLOGY

Genworth MI Canada
> KEY STRATEGIC PRIORITIES
Expand Market Share
Proactive Risk Management
Strong Government Relations
Efficient Capital Structure
Adjacent Opportunities
Employ and Engage Employees
High Quality, Diversified Portfolio
Operating Income Growth
HOW WE MEASURE SUCCESS
Market Share Gains
Strong Employee Engagement
STRATEGIC PRIORITIES

Genworth MI Canada > CHANGING MARKET
DYNAMICS
REBALANCING OF ECONOMIC GROWTH ACROSS THE COUNTRY
Market Dynamics
 Oil is anticipated to be in the $55-$65
USD range for 2015
 2015 GDP outlook of 1.9%
 Canadian dollar expected to be in the
range of $0.78 to $0.82 per USD
 Interest rate flat; low interest rates to
partially offset economic impact from
lower oil prices
Impact to Business
 Unemployment rate modestly higher and
home prices modestly lower in oil
producing regions (Alberta,
Newfoundland, Saskatchewan)
 GDP, home prices and employment in
Ontario and Quebec may benefit from
lower oil prices and Canadian dollar
 Continued lower interest rates supportive
of housing affordability

Genworth MI Canada > HIGHER QUALITY
PORTFOLIO
Average
Credit Score
Average
Home Price
Average
Gross Debt
Service Ratio
 Steady credit score improvement since
2009
 Average home price 23% below CREA
national average price of $424K
 Home price increase driven by higher
concentration in Toronto and Vancouver
 Gross debt ratios stable, strong
preference for 5 year fixed-rate
mortgages
 Financially disciplined first-time
homebuyers
726 727 727 730
733
737 737
'09 '10 '11 '12 '13 '14 Q1'15
266 284 296 301 304 315 326
'09 '10 '11 '12 '13 '14 Q1'15
($000’s)
22 24 25 24 23 24 25
'09 '10 '11 '12 '13 '14 Q1'15
(%)

Genworth MI Canada
> DELINQUENCY TREND
Outstanding Delinquencies
 Y/Y delinquency improvement reflects
lower delinquencies in Ontario and BC
 Improvement in delinquencies partially
offset by Alberta, Quebec and the
Atlantic region
497 430 431 395 407
303
268 279 268 260
249
221 207 222 220
527
511 516 569 584
206
198 199 207 216
78
75 76 95 105
Q1'14 Q2'14 Q3'14 Q4'14 Q1'15
1,860
1,703 1,708
1,756 1,792Prairies
Atlantic
Quebec
Alberta
BC
Ontario

Genworth MI Canada
> OUR SERVED MARKET
Region Average Home Price
Average
Income
Average
Gross Debt
Servicing
Genworth Market % Variance Genworth Genworth
Vancouver $486K $847K -43% $115K 28%
Toronto $447K $589K -24% $108K 29%
Calgary $421K $445K -5% $113K 27%
Rest of Canada $297K $334K -11% 94K 24%
Canada $326K $424K -23% $97K 25%
GENWORTH’S AVERAGE HOME PRICE ~23% LOWER THAN MARKET AVERAGE
Note: Q1’15 data; Genworth averages for purchase deals only, market averages from CREA; market rest of Canada calculated by using CREA cities weighted average s

Genworth MI Canada
> FINANCIAL PRIORITIES
PRIORITIES IMPACT ON FINANCIAL METRICS
› Prudent top line growth
 Increasing premiums written
 Improving premiums earned
› Proactive risk management
› High quality insurance portfolio
 Loss ratio in 20-30% range for 2015
› High quality investment portfolio  Investment income pressured by low rate environment
› Proactive approach to capital
management
 Operating modestly above MCT holding target of 220%
 Ongoing capital generation
 Focus on sustainable ordinary and growing dividend
TARGETING ROE EXPANSION OVER TIME

Genworth MI Canada
> STRONG PERFORMANCE
$MM except EPS and BVPS Q1’15 Q4’14 Q1’14
Premiums written $130 $178 $84
Premiums earned 143 143 141
Losses on claims 31 37 28
Expenses 24 30 27
Underwriting income $87 $76 $86
Investment income
(excl. realized gains / losses)
42 43 44
Net operating Income $97 $84 $91
Diluted operating EPS $1.03 $0.89 $0.96
Book value per share
(diluted, incl. AOCI)
$36.07 $35.02 $33.52
MCT 233% 225% 229%
 Strong top line performance was
primarily result of market
penetration
 Loss ratio of 22%
 Consistent investment income
 $5 MM one-time favorable tax
item
 Book value up to $36 per share
 Strong capital position

Genworth MI Canada
> TOP LINE GROWTH
71
104
13
26
Q1 '14 Q1 '15
Premiums Written
($millions)
Transactional
(High LTV)
Portfolio
(Low LTV)
VPY +100%
$84
$130
VPY +47%
Premiums
Earned
$141 $143 VPY +2%
Strong sales momentum expected to
continue into 2015
 15% premium rate increase effective June 1
on >90% loan-to-value
 Higher premiums written Y/Y is positive for
earned premiums going forward
Incremental Premiums Written
(2014 & 2015 Price Increases on $22 B of Transactional NIW Example)
45
75 75
25
55
2014 2015 2016
($MM)
Incremental Premiums Earned
(2014 & 2015 Price Increases on $22 B of Transactional NIW Example)
2 15
40
65
2014 2015 2016 2017
($MM)

Genworth MI Canada > UNDERWRITING
PROFITABILITY
86 97 87
76 87
27
27
24
30
24
28
17
30 37 31
Q1'14 Q2'14 Q3'14 Q4'14 Q1'15
Underwriting
profit
Expenses
Losses on claims
Loss ratio 20% 12% 21% 26% 22%
Expense ratio 19% 19% 17% 21% 17%
Combined ratio 39% 31% 38% 47% 39%
New delinquencies
net of cures
469 289 412 489 432
($millions)
Underwriting Profitability
 Loss ratio improved 4 pts. Q/Q
 Improved Quebec performance
 Low level of Alberta delinquencies
 Expense ratio of 17% in line with target
 Full year 2015 loss ratio expected to be in the
range of 20 to 30%

Genworth MI Canada
Diversify Globally
 IG Emerging Markets Debt
 US CLOs (<3% of AUM / “A’ or
Above)
 Hedge FX Risk
Diversify by Sector
 Market Weight Financials
 Underweight Energy
Preserve Principal
 Gov’t Bonds (~50% of AUM)
 Investment Grade Bonds
Protect From Rising Rates
 Short Duration (3.8 Years)
 Floating Rate Notes
Cash Flow Match Liabilities
 Portfolio Duration < 5 Years
Enhance Income
 Dividend Paying Equities
 Preferred Shares
 IG Emerging Markets Debt
 US CLOs
(<3% of AUM / “A” or Above)
ACTIVE PORTFOLIO
MANAGEMENT
› 4 external managers
› In -house investment
allocation & oversight
› Focus on investment
grade fixed income
› Limited appetite for
“risk” assets
1. Pre-tax equivalent book yield after dividend gross-up of general portfolio
$5.6 B INVESTMENT PORTFOLIO PRE-TAX YIELD1 OF 3.4% (MAR.31/15)
> DISCIPLINED APPROACH TO
INVESTMENT MANAGEMENT
IG = Investment Grade CLOs = Collateral Loan Obligations
YIELD CURRENTLY PRESSURED BY LOW RATES ... STILL STRONG INCOME CONTRIBUTOR

Genworth MI Canada
> STRONG BALANCE SHEET
$ MM March 31, 2015
Assets
Cash and investments $5,649
Other Assets 280
Total Assets $5,929
Liabilities
Loss reserves 119
Unearned Premiums 1,786
Long Term Debt 432
Other Liabilities 191
Total Liabilities 2,527
Shareholders’ Equity (w/AOCI) 3,402
Total Liabilities and
Shareholders’ Equity
$5,929
Book Value Per Share (diluted) $36.07
KEY HIGHLIGHTS
› $1.8 B of unearned premiums represent future
revenues & profits
› Illustration:
Unearned Premiums $1.8 B
Future Losses on Claims & Expenses
1
(1.0)
Future Pre-tax Underwriting Income 0.8
Future Net Income $0.6 B
1. Theoretical example - future losses on claims and expenses calculated using 55%
combined ratio

Genworth MI Canada
> CAPITAL STRENGTH
185% 185%
40% 48%
225%
233%
2014 Q1 2015
Minimum Capital Test Ratio (MCT)
Internal MCT target
Buffer to internal target
KEY HIGHLIGHTS
› Strong capital generation has resulted in actions
› History of ordinary dividend increases
› 35-45% payout ratio
› History of share repurchases - $75 million in
Q4 2014, $105 million in 2013, $160 million
in 2011, $325 million in 2010
› Special dividends paid in 2011 and 2014
› Renewed NCIB effective until May 2015
› Conservative leverage of 12%
› Holding company cash and liquid securities of
$158 million
› Intend to operate moderately above 220% MCT
operating holding target
CAPITAL OBJECTIVES: STRENGTH, FLEXIBILITY, EFFICIENCY

POTENTIAL IMPACT OF PERFORMANCE LEVERS OVER TIME
Levers EPS ROE Comments
Price Increase ↑ ↑
2014 price increase positive to EPS/ROE
Annual review of pricing by government
Market Share Gains ↑ ↑ Capitalizing on momentum
Investment Yield
Improvement
↑ ↑
10 bps improvement in yield adds $4MM
in net operating income
Capital Optimization ↑ Potential for a lower MCT Holding
> ROE EXPANSION
SEVERAL LEVERS TO DRIVE ROE EXPANSION OVER TIME

Genworth MI Canada
 Proven and sustainable business model
 Clear strategy for prudent growth
 Supportive market and regulatory environment
 Experts at managing mortgage default risk
 Solid financial position
 Experienced and engaged employees
> KEY TAKE-AWAYS
CANADA’S MORTGAGE INSURER OF CHOICE

Genworth MI Canada
> CONTACT INFORMATION
INVESTOR RELATIONS
www.genworth.ca
investor@genworth.com
HEAD OFFICE
2060 Winston Park Drive
Suite 300
Oakville, Ontario
905-287-5300 (reception)
DIRECT CONTACT
Samantha Cheung
Vice-President, Investor Relations
Samantha.Cheung@genworth.com
905.287.5482
Visit our online Annual Report at www.genworth.ca

GenworthMI Canada BUILDING ON GROWTH MOMENTUM

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