8-K - GNW - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

July 30, 2025

Date of Report

(Date of earliest event reported)

LOGO

GENWORTH FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-32195	80-0873306
(State or other jurisdiction<br>of incorporation)	(Commission<br>File Number)	(I.R.S. Employer<br>Identification No.)
11011 West Broad Street, Glen Allen, Virginia	23060
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(Address of principal executive offices)	(Zip Code)

(804) 281-6000

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading<br>Symbol	Name of each exchange<br>on which registered
Common Stock, par value $.001 per share	GNW	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02	Results of Operations and Financial Condition.

On July 30, 2025, Genworth Financial, Inc. (the “Company”) issued (1) a press release announcing its financial results for the quarter ended June 30, 2025, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, and (2) a financial supplement for the quarter ended June 30, 2025, a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

The information contained in this Current Report on Form 8-K (including the exhibits) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the company under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information contained in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01	Financial Statements and Exhibits.

The following materials are furnished as exhibits to this Current Report on Form 8-K:

Exhibit<br>Number	Description of Exhibit
99.1	Press Release dated July 30, 2025
99.2	Financial Supplement for the quarter ended June 30, 2025
104	Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GENWORTH FINANCIAL, INC.
Date: July 30, 2025	By:	/s/ Darren W. Woodell
		Darren W. Woodell
		Vice President and Controller
		(Principal Accounting Officer)

EX-99.1

Exhibit 99.1

LOGO

Genworth Financial Announces Second Quarter 2025 Results

Strategic Highlights

•	Favorable ruling for AXA in the UK Payment Protection Insurance Case; Genworth to share in funds that AXA<br>recovers
•	Delivered 804 matches^1^ with providers in the CareScout<br>Quality Network in the quarter with over 90% home care coverage of the aged 65-plus census population in the United States
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•	Launched Care Plans, a fee-based service helping consumers evaluate<br>long-term care needs and find caregivers, growing the CareScout product suite
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•	Repurchased $30M shares in the quarter; $620M since program inception
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•	Continued progress on the LTC^2^ multi-year rate action plan<br>with $41M of gross incremental premium approvals; approximately $31.6B estimated net present value achieved since 2012 from in-force rate actions (IFAs)
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Financial Highlights

•	Net income^3^ of $51M, or $0.12 per diluted share, and<br>adjusted operating income^3,^^4^ of $68M, or $0.16^4^ per diluted share
•	Enact reported adjusted operating income of $141M^3^;<br>distributed $94M in capital returns to Genworth
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•	U.S. life insurance companies’ RBC^5^ ratio of 304%^6^ reflects strong statutory earnings offsetting higher required capital as the limited partnership portfolio grows
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•	Genworth holding company cash and liquid assets of $248M^7^ at<br>quarter-end
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Richmond, VA (July 30, 2025) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended June 30, 2025.

“Genworth delivered solid second quarter results as we continued to execute against our strategic priorities,” said Tom McInerney, President & CEO. “Enact continued its strong performance, driving meaningful<br>capital returns that fueled our share repurchase program. CareScout, our long-term growth platform, reached exciting milestones including the expansion of the CareScout Quality Network directly to consumers in all 50 states and the launch of Care<br>Plans to help more families navigate aging with clarity and confidence. As we navigate the second half of the year, we remain focused on building our growth platform while maintaining the self-sustainability of our legacy insurance companies and<br>returning capital to shareholders.”

Consolidated Metrics<br><br><br>(Amounts in millions, except per share data)	Q2 2025		Q1 2025		Q2 2024
Net income^3^	$	51	$	54	$	76
Net income per diluted share^3^	$	0.12	$	0.13	$	0.17
Adjusted operating income^3,4^	$	68	$	51	$	125
Adjusted operating income per diluted<br>share^3,4^	$	0.16	$	0.12	$	0.28
Weighted-average diluted shares		417.5		422.9		440.7

Consolidated GAAP Financial Highlights

•	Net income in the quarter was driven by Enact, which had strong operating performance
•	Net investment losses, net of taxes, decreased net income by $22 million in the current quarter, compared<br>with net investment gains of $21 million in the prior quarter and net investment losses of $48 million in the prior year. The investment losses in the current quarter were driven primarily by derivatives and an increase in the allowance<br>for credit losses, partially offset by mark-to-market adjustments on equity securities and limited partnerships
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•	Changes in the fair value of market risk benefits and associated hedges, net of taxes, increased net income by<br>$8 million in the quarter driven primarily by favorable equity market impacts, compared with a decrease of $14 million in the prior quarter and an increase of $6 million in the prior year
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•	Net investment income, net of taxes, was $634 million in the quarter, up from $584 million in the prior<br>quarter driven by higher income from limited partnerships, and down from $638 million in the prior year from lower income from policy loans offsetting higher income from limited partnerships
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Enact

GAAP Operating Metrics<br><br><br>(Dollar amounts in millions)	Q2 2025			Q1 2025			Q2 2024
Adjusted operating income^3^	$	141		$	137		$	165
Primary new insurance written	$	13,254		$	9,818		$	13,619
Loss ratio		10	%		12	%		(7	)%
Equity^8^	$	4,244		$	4,159		$	3,942
•	Current quarter results reflected a pre-tax reserve release of<br>$48 million from favorable cure performance and loss mitigation activities. The prior quarter and prior year included pre-tax reserve releases of $47 million and $77 million, respectively<br>
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•	Net investment income of $66 million in the current quarter was up from $59 million in the prior year<br>from higher yields and higher average invested assets
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•	Primary insurance in-force increased 1% versus the prior year to<br>$269.8 billion driven by new insurance written (NIW) and continued elevated persistency
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•	Primary NIW was up 35% from the prior quarter primarily from seasonality in the purchase origination market and<br>modestly down from the prior year
Capital Metric	Q2 2025			Q1 2025			Q2 2024
---	---	---	---	---	---	---	---	---	---
PMIERs Sufficiency Ratio^6,^^9^		165	%		165	%		169	%
•	Enact paid a quarterly dividend of $0.21 per share in the current quarter
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•	Estimated PMIERs sufficiency ratio of 165%, $1,961 million above requirements
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Long-Term Care Insurance

GAAP Operating Metrics<br><br><br>(Amounts in millions)	Q2 2025			Q1 2025			Q2 2024
Adjusted operating loss	$	(37	)	$	(30	)	$	(29	)
Premiums	$	578		$	571		$	564
Net investment income	$	516		$	451		$	494
Liability remeasurement gains (losses)	$	(50	)	$	18		$	(43	)
Cash flow assumption updates		(8	)		1			24
Actual variances from expected experience		(42	)		17			(67	)
•	Premiums increased primarily driven by IFAs, partially offset by policy terminations
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•	Net investment income increased due to higher income from limited partnerships
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•	Current quarter liability remeasurement loss included unfavorable actual variances from expected experience<br>primarily from lower terminations and higher benefit utilization, partially offset by a $26 million pre-tax gain from a third-party reinsurance recapture of a block of LTC policies previously assumed by<br>Genworth
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•	Prior quarter liability remeasurement gain included favorable actual variances from expected experience primarily<br>from seasonally high mortality
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•	Prior year included a pre-tax benefit from net insurance recoveries of<br>$24 million and favorable cash flow assumption updates
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Life and Annuities

GAAP Adjusted Operating Income (Loss)<br><br><br>(Amounts in millions)	Q2 2025			Q1 2025			Q2 2024
Life Insurance	$	(20	)	$	(44	)	$	(23	)
Annuities		13			11			22
Total Life and Annuities	$	(7	)	$	(33	)	$	(1	)

Life Insurance

•	Current quarter results reflected mortality experience that was favorable versus the prior quarter but<br>unfavorable versus the prior year
•	Prior year results reflected the unfavorable impact of a legal settlement accrual
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Annuities

•	Results in the current quarter included unfavorable mortality and lower net spread income from block runoff<br>compared to prior year

U.S. Life Insurance Companies^10^ Statutory Results^6^ and RBC^6^

(Dollar amounts in millions)	Q2 2025			Q1 2025			Q2 2024
Statutory pre-tax income (loss)^6,^^11^	$	81		$	(1	)	$	171
Long-Term Care Insurance		(26	)		50			106
Life Insurance		18			(34	)		9
Annuities		89			(17	)		56
GLIC Consolidated RBC Ratio^5,6^		304	%		304	%		319	%
•	Statutory pre-tax income was $81 million in the current quarter<br>
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•	LTC continued to benefit from premium increases and benefit reductions from IFAs, though lower than the prior<br>year as the Choice II legal settlement is complete. Current quarter results reflected seasonally lower mortality than the prior quarter, partially offset by higher limited partnership distributions and a<br>pre-tax gain of $11 million from a third-party reinsurance recapture. The prior year included a benefit from net insurance recoveries
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•	Life insurance results included favorable seasonal impacts versus the prior quarter
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•	Annuity results reflected a net favorable impact of $79 million<br>pre-tax from equity market and interest rate performance in the variable annuity products compared to $23 million in the prior year and a net unfavorable impact of $26 million in the prior quarter<br>
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•	Current quarter estimated GLIC consolidated RBC ratio was 304%, driven by strong earnings which offset higher<br>required capital as the limited partnership portfolio grows
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Corporate and Other

•	The current quarter adjusted operating loss was $29 million, up from $10 million in the prior year<br>primarily driven by timing of favorable tax-related items of $15 million in the prior year

Holding Company Cash and Liquid Assets

(Amounts in millions)	Q2 2025		Q1 2025		Q2 2024
Holding Company Cash and Liquid Assets^7,^^12^	$	248	$	211	$	281
•	Cash and liquid assets were $248 million at the end of the current quarter, including approximately<br>$128 million of advance cash payments from the company’s subsidiaries held for future obligations
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•	Cash inflows during the current quarter included $94 million from Enact capital returns<br>
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•	Current quarter cash outflows included $30 million in share repurchases and $18 million related to debt<br>servicing costs
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Capital Allocation and Shareholder Returns

•	Executed $30 million in share repurchases in the current quarter at an average price of $7.01 per share;<br>$80 million remaining in the authorization at the end of the second quarter of 2025
•	Executed $620 million in share repurchases since program inception through June 30, 2025 at an average<br>price of $5.78 per share
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About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a Fortune 1000 company focused on empowering families to navigate the aging journey with confidence, now and in the future. Headquartered in Richmond, Virginia, Genworth provides guidance, products, and services that help people understand their caregiving options and fund their long-term care needs. Genworth is also the parent company of publicly traded Enact Holdings, Inc. (Nasdaq: ACT), a leading U.S. mortgage insurance provider. For more information on Genworth, visit genworth.com, and for more information on Enact Holdings, Inc. visit enactmi.com.

Conference Call Information

Investors are encouraged to read this press release, summary presentation and financial supplement which are now posted on the company’s website, https://investor.genworth.com.

Genworth will conduct a conference call on July 31, 2025 at 9:00 a.m. (ET) to discuss its second quarter results, which will be accessible via:

•	Telephone: 888-208-1820 or 323-794-2110 (outside the U.S.); conference ID # 8808137; or
•	Webcast: https://investor.genworth.com/news-events/ir-calendar<br>
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Allow at least 15 minutes prior to the call time to register for the call. A replay of the webcast will be available on the company’s website for one year.

Prior to Genworth’s conference call, Enact will hold a conference call on July 31, 2025 at 8:00 a.m. (ET) to discuss its second quarter results, which will be accessible via:

•	Telephone: Click here to obtain a dial-in number and unique PIN<br>for Enact’s live question and answer session; or
•	Webcast:<br>https://ir.enactmi.com/news-and-events/events
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Allow at least 15 minutes prior to the call time to register for the call.

Contact Information:

Investors:	Christine Jewell
	InvestorInfo@genworth.com
Media:	Amy Rein
	Amy.Rein@genworth.com

Use of Non-GAAP Measures

Management evaluates performance and allocates resources based on a non-GAAP financial measure entitled “adjusted operating income (loss).” Management evaluates adjusted operating income (loss) as a key measure to assess performance and support new business initiatives because the measure more accurately reflects overall operating performance, as it minimizes the impact of macroeconomic volatility. The company’s legacy U.S. life insurance subsidiaries, which comprise the Long-Term Care Insurance and Life and Annuities segments, are managed on a standalone basis; therefore, the company does not allocate capital to its Long-Term Care Insurance and Life and Annuities segments.

The company defines adjusted operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income (loss) attributable to noncontrolling interests, net investment gains (losses), changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, restructuring costs and infrequent or unusual non-operating items. A component of the company’s net investment gains (losses) is the result of estimated future credit losses, 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 company’s discretion and are influenced by market opportunities, as well as asset-liability matching considerations. The company excludes net investment gains (losses), changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, restructuring costs and infrequent or unusual non-operating items from adjusted operating income (loss) because, in the company’s opinion, they are not indicative of overall operating performance.

While some of these items may be significant components of net income (loss) determined in accordance with GAAP, the company believes that adjusted operating income (loss), and measures that are derived from or incorporate adjusted 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. Adjusted operating income (loss) is not a substitute for net income (loss) determined in accordance with GAAP. In addition, the company’s definition of adjusted operating income (loss) may differ from the definitions used by other companies.

Adjustments to reconcile net income (loss) to adjusted operating income (loss) assume a 21% tax rate and are net of the portion attributable to noncontrolling interests. Changes in fair value of market risk benefits and associated hedges are adjusted to exclude changes in reserves, attributed fees and benefit payments.

The tables at the end of this press release provide a reconciliation of net income available to Genworth Financial, Inc.’s common stockholders to adjusted operating income for the three months ended June 30, 2025 and 2024, as well as the three months ended March 31, 2025 and reflect adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting.

Statutory Accounting Data

The company presents certain supplemental statutory data for GLIC and its consolidating life insurance subsidiaries that has been prepared on the basis of statutory accounting principles (SAP). GLIC and its consolidating life insurance subsidiaries file financial statements with state insurance regulatory authorities and the National Association of Insurance Commissioners that are prepared using SAP, an accounting basis either prescribed or permitted by such authorities. Due to differences in methodology between SAP and GAAP, the values for assets, liabilities and equity, and the recognition of income and expenses, reflected in financial statements prepared in accordance with GAAP are materially different from those reflected in financial statements prepared under SAP. This supplemental statutory data should not be viewed as an alternative to, or used in lieu of, GAAP.

This supplemental statutory data includes the company action level RBC ratio for GLIC and its consolidating life insurance subsidiaries as well as combined statutory pre-tax earnings from the principal U.S. life insurance companies, GLIC, GLAIC and GLICNY. Statutory pre-tax earnings represent the net gain from operations, including the impact from in-force rate actions, before dividends to policyholders, refunds to members and federal income taxes and before realized capital gains or (losses). The combined product level statutory pre-tax earnings are grouped on a consistent basis as those provided on page six of the statutory Annual Statements. Management uses and provides this supplemental statutory data because it believes it provides a useful measure of, among other things, statutory pre-tax earnings and the adequacy of capital. Management uses this data to measure against its policy to manage the U.S. life insurance companies with internally generated capital.

Cautionary Note Regarding Forward-Looking Statements

This press release 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,” “may” or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company’s future business and financial performance. Examples of forward-looking statements include statements the company makes relating to potential dividends or share repurchases; future return of capital by Enact Holdings, Inc. (Enact Holdings), including share repurchases, and quarterly and special dividends; the cumulative economic benefit of approved and future rate actions included in the company’s long-term care insurance multi-year in-force rate action plan; planned investments in and the company’s outlook for new lines of business or new insurance and other products and services, such as those it is pursuing with its CareScout business (CareScout), including through its CareScout services business (CareScout Services) and its CareScout insurance business (CareScout Insurance); the timing of any future insurance offering through CareScout Insurance; future financial performance, including the expectation that quarterly adverse variances between actual and expected experience could persist resulting in future remeasurement losses in the company’s long-term care insurance business; any potential future judgment, recovery and/or payment amounts in connection with the AXA S.A. and Santander Cards UK Limited litigation (AXA Litigation), Genworth’s planned use of proceeds from any recovery in connection with the AXA Litigation, including share repurchases, debt repurchases and investments in new businesses; and statements the company makes regarding the outlook of the U.S. economy.

Forward-looking statements are based on management’s 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 from those in the forward-looking statements due to global political, economic, inflation, business, competitive, market, regulatory and other factors and risks, including but not limited to, the following:

•	the inability to successfully launch new lines of business, including long-term care insurance and other products<br>and services the company is pursuing with CareScout;
•	the company’s failure to maintain the self-sustainability of its legacy U.S. life insurance subsidiaries,<br>including as a result of the inability to achieve desired levels of in-force rate actions and/or the timing of future premium rate increases and associated benefit reductions taking longer to achieve than<br>originally assumed; other regulatory actions negatively impacting the company’s life insurance businesses;
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•	inaccuracies or changes in estimates, assumptions, methodologies, valuations, projections and/or models, which<br>result in inadequate reserves or other adverse results (including as a result of any changes in connection with quarterly, annual or other reviews);
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•	the impact on holding company liquidity caused by an inability to receive dividends or any other returns of<br>capital from Enact Holdings, and limited sources of capital and financing and the need to seek additional capital on unfavorable terms;
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•	adverse changes to the structure or requirements of Federal National Mortgage Association (Fannie Mae), Federal<br>Home Loan Mortgage Corporation (Freddie Mac) or the U.S. mortgage insurance market; an increase in the number of loans insured through federal government mortgage insurance programs, including those offered by the Federal Housing Administration; the<br>inability of Enact Holdings and/or its U.S. mortgage insurance subsidiaries to continue to meet the requirements mandated by PMIERs (or any adverse changes thereto), the inability to meet minimum statutory capital requirements of applicable<br>regulators or the mortgage insurer eligibility requirements of Fannie Mae or Freddie Mac;
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•	changes in economic, market and political conditions, labor shortages and fluctuating interest rates;<br>unanticipated financial events, which could lead to market-wide liquidity problems and other significant market disruption resulting in losses, defaults or credit rating downgrades of other financial institutions; deterioration in economic<br>conditions, a recession or a decline in home prices, all of which could be driven by many potential factors; an increase in the cost of care impacting the company’s long-term care insurance business; changes in international trade policy,<br>including the potential impact of new or increased tariffs, retaliatory policies or actions from other countries, and trade wars or other events that lead to political and economic instability; changes in government or monetary policies, including<br>U.S. federal tax laws, such as the One Big Beautiful Bill Act that was signed into law on July 4, 2025, tax rates or interest rates; changes within regulatory agencies as a result of the change in the U.S. Administration in January 2025;<br>changes in immigration policy; and fluctuations in international securities markets;
•	downgrades in financial strength and credit ratings and potential adverse impacts to liquidity; counterparty<br>credit risks; defaults by counterparties to reinsurance arrangements or derivative instruments; defaults or other events impacting the value of invested assets;
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•	changes in tax rates or tax laws, or changes in accounting and reporting standards;
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•	litigation and regulatory investigations or other actions, including commercial and contractual disputes with<br>counterparties;
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•	the inability to retain, attract and motivate qualified employees or senior management;
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•	changes in the composition of Enact Holdings’ business or undue concentration by customer or geographic<br>region;
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•	the impact from deficiencies in the company’s disclosure controls and procedures or internal control over<br>financial reporting;
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•	the occurrence of natural or man-made disasters, including geopolitical<br>tensions and war (including the Russian invasion of Ukraine, the Israel-Hamas conflict and economic competition between the United States and China), a public health emergency, including pandemics, or climate change;
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•	the inability to effectively manage information technology systems (including artificial intelligence), cyber<br>incidents or other failures, disruptions or security breaches of the company or its third-party vendors, as well as unknown risks and uncertainties associated with artificial intelligence;
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•	the inability of third-party vendors to meet their obligations to the company;
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•	the lack of availability, affordability or adequacy of reinsurance to protect the company against losses;<br>
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•	a decrease in the volume of high<br>loan-to-value home mortgage originations or an increase in the volume of mortgage insurance cancellations;
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•	unanticipated claims against Enact Holdings’ delegated underwriting and loss mitigation programs;<br>
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•	the impact of medical advances such as genetic research and diagnostic imaging, emerging new technology,<br>including artificial intelligence and related legislation; and
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•	other factors described in the risk factors contained in Item 1A of the company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on February 28, 2025.
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The company provides additional information regarding these risks and uncertainties in its Annual Report on Form 10-K. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Accordingly, for the foregoing reasons, the company cautions the reader against relying on any forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required under applicable securities laws.

Condensed Consolidated Statements of Income

(Amounts in millions, except per share amounts)

(Unaudited)

	Three monthsended June 30,						Three monthsendedMarch 31,<br>2025
	2025			2024
Revenues:
Premiums	$	865		$	855		$	862
Net investment income		802			808			739
Net investment gains (losses)		(28	)		(61	)		27
Policy fees and other income		157			167			158
Total revenues		1,796			1,769			1,786
Benefits and expenses:
Benefits and other changes in policy reserves		1,195			1,151			1,217
Liability remeasurement (gains) losses		60			39			4
Changes in fair value of market risk benefits and associated hedges		(10	)		(8	)		18
Interest credited		94			125			99
Acquisition and operating expenses, net of deferrals		249			229			236
Amortization of deferred acquisition costs and intangibles		57			60			60
Interest expense		26			30			26
Total benefits and expenses		1,671			1,626			1,660
Income from continuing operations before income taxes		125			143			126
Provision for income taxes		35			32			36
Income from continuing operations		90			111			90
Loss from discontinued operations, net of taxes		(7	)		(1	)		(5	)
Net income		83			110			85
Less: net income attributable to noncontrolling interests		32			34			31
Net income available to Genworth Financial, Inc.’s common stockholders	$	51		$	76		$	54
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders<br>per share:
Basic	$	0.14		$	0.18		$	0.14
Diluted	$	0.14		$	0.17		$	0.14
Net income available to Genworth Financial, Inc.’s common stockholders per share:
Basic	$	0.12		$	0.17		$	0.13
Diluted	$	0.12		$	0.17		$	0.13
Weighted-average common shares outstanding:
Basic		413.2			436.4			418.3
Diluted		417.5			440.7			422.9

Reconciliation of Net Income to Adjusted Operating Income

(Amounts in millions, except per share amounts)

(Unaudited)

	Three months endedJune 30,						Threemonths endedMarch 31,<br>2025
	2025			2024
Net income available to Genworth Financial, Inc.’s common stockholders	$	51		$	76		$	54
Add: net income attributable to noncontrolling interests		32			34			31
Net income		83			110			85
Less: loss from discontinued operations, net of taxes		(7	)		(1	)		(5	)
Income from continuing operations		90			111			90
Less: net income from continuing operations attributable to noncontrolling interests		32			34			31
Income from continuing operations available to Genworth Financial, Inc.’s common<br>stockholders		58			77			59
Adjustments to income from continuing operations available to Genworth Financial, Inc.’s<br>common stockholders:
Net investment (gains) losses, net^13^		27			60			(28	)
Changes in fair value of market risk benefits attributable to interest rates, equity markets and<br>associated hedges^14^		(15	)		(10	)		19
(Gains) losses on early extinguishment of debt,<br>net^15^		—			7			—
Expenses related to restructuring		—			4			(1	)
Taxes on adjustments		(2	)		(13	)		2
Adjusted operating income	$	68		$	125		$	51
Adjusted operating income (loss):
Enact segment	$	141		$	165		$	137
Long-Term Care Insurance segment		(37	)		(29	)		(30	)
Life and Annuities segment:
Life Insurance		(20	)		(23	)		(44	)
Fixed Annuities		8			12			4
Variable Annuities		5			10			7
Total Life and Annuities segment		(7	)		(1	)		(33	)
Corporate and Other		(29	)		(10	)		(23	)
Adjusted operating income	$	68		$	125		$	51
Net income available to Genworth Financial, Inc.’s common stockholders per share:
Basic	$	0.12		$	0.17		$	0.13
Diluted	$	0.12		$	0.17		$	0.13
Adjusted operating income per share:
Basic	$	0.16		$	0.29		$	0.12
Diluted	$	0.16		$	0.28		$	0.12
Weighted-average common shares outstanding:
Basic		413.2			436.4			418.3
Diluted		417.5			440.7			422.9

Footnote Definitions

^1^	A match is identified when CareScout validates and approves an invoice from a CareScout Quality Network<br>provider that demonstrates a CareScout member has received services for the first time, and the appropriate discount was applied.
^2^	Long-term care insurance.
---	---
^3^	All references reflect amounts available to Genworth’s common stockholders.
---	---
^4^	This is a financial measure that is not calculated based on U.S. Generally Accepted Accounting Principles<br>(GAAP). See the Use of Non-GAAP Measures section of this press release for additional information.
---	---
^5^	Risk-based capital ratio based on company action level for Genworth Life Insurance Company (GLIC) consolidated.<br>
---	---
^6^	Company estimate for the second quarter of 2025 due to timing of the preparation and filing of the statutory<br>financial statement(s).
---	---
^7^	Includes approximately $128 million, $98 million and $95 million of advance cash payments from<br>the company’s subsidiaries held for future obligations as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
---	---
^8^	Reflects Genworth’s ownership of equity including accumulated other comprehensive income (loss) and<br>excluding noncontrolling interests of $991 million, $971 million and $894 million as of June 30, 2025, March 31, 2025, and June 30, 2024, respectively.
---	---
^9^	The Private Mortgage Insurer Eligibility Requirements (PMIERs) sufficiency ratio is calculated as available<br>assets divided by required assets as defined within PMIERs.
---	---
^10^	Genworth’s principal U.S. life insurance companies: GLIC, Genworth Life and Annuity Insurance Company<br>(GLAIC) and Genworth Life Insurance Company of New York (GLICNY).
---	---
^11^	Net gain (loss) from operations before dividends to policyholders, refunds to members and federal income taxes<br>for GLIC, GLAIC and GLICNY, and before realized capital gains or (losses).
---	---
^12^	Holding company cash and liquid assets comprises assets held in Genworth Holdings, Inc. (the issuer of<br>outstanding public debt) which is a wholly-owned subsidiary of Genworth Financial, Inc.
---	---
^13^	Net investment (gains) losses were adjusted for the portion attributable to noncontrolling interests of<br>$1 million for all periods presented.
---	---
^14^	Changes in fair value of market risk benefits and associated hedges were adjusted to exclude changes in<br>reserves, attributed fees and benefit payments of $(5) million and $(2) million for the three months ended June 30, 2025 and 2024, respectively, and $1 million for the three months ended March 31, 2025.
---	---
^15^	(Gains) losses on early extinguishment of debt were net of the portion attributable to noncontrolling interests<br>of $2 million for the three months ended June 30, 2024.
---	---

EX-99.2

LOGO

Exhibit 99.2

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Table of Contents	Page
Investor Letter		3
Use of Non-GAAP Measures		4
Results of Operations and Selected Operating Performance Measures		5
Financial Highlights		6
Consolidated Quarterly Results
Consolidated Net Income (Loss) by Quarter		8
Reconciliation of Net Income (Loss) to Adjusted Operating Income		9
Consolidated Balance Sheets		10-11
Consolidated Balance Sheets by Segment		12-13
Quarterly Results by Business
Adjusted Operating Income and Operating Metrics—Enact Segment		15-16
Adjusted Operating Income (Loss) and Statutory Impact of In-Force Rate Actions—Long-Term<br> Care Insurance Segment		18-19
Adjusted Operating Income (Loss)—Life and Annuities Segment		21-24
Adjusted Operating Loss—Corporate and Other		26
Additional Financial Data
Investments Summary		28
Fixed Maturity Securities Summary		29
U.S. GAAP Net Investment Income Yields		30
Net Investment Gains (Losses)—Detail		31
Reconciliations of Non-GAAP Measures
Reconciliation of Operating Return On Equity (ROE)		33
Reconciliation of Consolidated Expense Ratio		34
Reconciliation of Reported Yield to Core Yield		35

Note:

Unless otherwise stated, all references in this financial supplement to income (loss) from continuing operations, income (loss) from continuing operations per share, net income (loss), net income (loss) per share, adjusted operating income (loss), adjusted operating income (loss) per share, book value and book value per share should be read as income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders, income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share, net income (loss) available to Genworth Financial, Inc.’s common stockholders, net income (loss) available to Genworth Financial, Inc.’s common stockholders per share, non-U.S. Generally Accepted Accounting Principles (U.S. GAAP) adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders, non-GAAP adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders per share, book value available to Genworth Financial, Inc.’s common stockholders and book value available to Genworth Financial, Inc.’s common stockholders per share, respectively.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Dear Investor,

Thank you for your continued interest in Genworth Financial, Inc.

Please see the accompanying press release and summary presentation posted to the company’s website at https://investor.genworth.com for additional information regarding its second quarter 2025 earnings results.

Investors are encouraged to listen to the company’s earnings call on the second quarter 2025 results at 9:00 a.m. (ET) on July 31, 2025. The company’s conference call will be accessible via telephone and internet. The dial-in number for Genworth’s July 31 conference call is 888-208-1820 or 323-794-2110 (outside the U.S.); conference ID #8808137. To participate in the call by webcast, register at least 15 minutes in advance at http://investor.genworth.com.

Regards,

Christine Jewell

Investor Relations

InvestorInfo@genworth.com

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Use of Non-GAAP Measures

While some of these items may be significant components of net income (loss) determined in accordance with U.S. GAAP, the company believes that adjusted operating income (loss), and measures that are derived from or incorporate adjusted 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. Adjusted operating income (loss) is not a substitute for net income (loss) determined in accordance with U.S. GAAP. In addition, the company’s definition of adjusted operating income (loss) may differ from the definitions used by other companies.

The table on page 9 of this financial supplement provides a reconciliation of net income (loss) to adjusted operating income for the periods presented and reflects adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting. This financial supplement includes other non-GAAP measures management believes enhances the understanding and comparability of performance by highlighting underlying business activity and profitability drivers. These additional non-GAAP measures are on pages 33 to 35 of this financial supplement.

Statutory Accounting Data

The company presents certain supplemental statutory data for Genworth Life Insurance Company (GLIC) and its consolidating life insurance subsidiaries that has been prepared on the basis of statutory accounting principles (SAP). GLIC and its consolidating life insurance subsidiaries file financial statements with state insurance regulatory authorities and the National Association of Insurance Commissioners that are prepared using SAP, an accounting basis either prescribed or permitted by such authorities. Due to differences in methodology between SAP and U.S. GAAP, the values for assets, liabilities and equity, and the recognition of income and expenses, reflected in financial statements prepared in accordance with U.S. GAAP are materially different from those reflected in financial statements prepared under SAP. This supplemental statutory data should not be viewed as an alternative to, or used in lieu of, U.S. GAAP.

This supplemental statutory data includes the impact from in-force rate actions on pre-tax long-term care insurance statutory earnings. Statutory pre-tax earnings represent the net gain from operations, including the impact from in-force rate actions, before dividends to policyholders, refunds to members and federal income taxes and before realized capital gains or (losses). Management uses and provides this supplemental statutory data because it believes it provides a useful measure of, among other things, statutory pre-tax earnings and the adequacy of capital. Management uses this data to measure against its policy to manage the U.S. life insurance companies with internally generated capital.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Results of Operations and Selected Operating Performance Measures

The company allocates tax to its businesses at the U.S. corporate federal income tax rate of 21%. Each segment is then adjusted to reflect the unique tax attributes of that segment, such as permanent differences between U.S. GAAP and tax law. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other.

The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year. U.S. GAAP generally requires an annualized effective tax rate to be used for interim reporting periods, utilizing projections of full year results. However, in certain circumstances, it is appropriate to record the actual effective tax rate for the period if a reliable estimate cannot be made for the full year. For the three months ended June 30, 2025, March 31, 2025, September 30, 2024 and June 30, 2024, the company utilized the actual effective tax rate for the interim period to record the provision for income taxes for its Long-Term Care Insurance and Life and Annuities segments and the annualized projected effective tax rate for its Enact segment and Corporate and Other. For the three months ended March 31, 2024, the company used the annualized projected effective tax rate for all segments and Corporate and Other.

This financial supplement contains selected operating performance measures including “new insurance written,” “insurance in-force” and “risk in-force,” which are commonly used in the insurance industry as measures of operating performance.

Management regularly monitors and reports new insurance written for the company’s Enact segment as a measure of volume of new business generated in a period. The company considers new insurance written to be a measure of the operating performance of its Enact segment because it represents a measure of new sales of mortgage insurance policies during a specified period, rather than a measure of revenues or profitability during that period.

Management also regularly monitors and reports insurance in-force and risk in-force for the company’s Enact segment. Insurance in-force is a measure of the aggregate unpaid principal balance as of the respective reporting date for loans insured by the company’s U.S. mortgage insurance subsidiaries. Risk in-force is based on the coverage percentage applied to the estimated current outstanding loan balance. These metrics are presented on a direct basis and exclude reinsurance. The company considers insurance in-force and risk in-force to be measures of the operating performance of its Enact segment because they represent measures of the size of its business at a specific date which will generate revenues and profits in a future period, rather than measures of its revenues or profitability during that period.

Management also regularly monitors and reports a loss ratio for the company’s Enact segment. The company considers the loss ratio, which is the ratio of benefits and other changes in policy reserves to net earned premiums, to be a measure of underwriting performance. The company believes the loss ratio helps to enhance the understanding of the operating performance of the Enact segment.

These operating performance 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.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Financial Highlights

(amounts in millions, except per share data)

Balance Sheet Data	June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024			June 30, 2024
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other<br>comprehensive income (loss)	$	10,160		$	10,131		$	10,136		$	10,182		$	10,146
Total accumulated other comprehensive income<br>(loss)^(1)^		(1,372	)		(1,421	)		(1,642	)		(1,871	)		(1,687	)
Total Genworth Financial, Inc.’s stockholders’ equity	$	8,788		$	8,710		$	8,494		$	8,311		$	8,459
Book value per share	$	21.35		$	20.94		$	20.16		$	19.40		$	19.49
Book value per share, excluding accumulated other comprehensive income (loss)	$	24.68		$	24.36		$	24.05		$	23.77		$	23.38
Common shares outstanding as of the balance sheet date		411.7			415.9			421.4			428.4			434.0
	Twelve months ended
Twelve Month Rolling Average ROE	June 30,<br>2025			March 31,<br>2025			December 31,2024			September 30,2024			June 30,<br>2024
U.S. GAAP Basis ROE		1.9	%		2.1	%		3.0	%		0.9	%		0.3	%
Operating ROE^(2)^		1.8	%		2.4	%		2.7	%		0.3	%		0.2	%
	Three months ended
Quarterly Average ROE	June 30,<br>2025			March 31,<br>2025			December 31,2024			September 30,2024			June 30,<br>2024
U.S. GAAP Basis ROE		2.0	%		2.1	%		—	%		3.3	%		3.0	%
Operating ROE^(2)^		2.7	%		1.5	%		0.6	%		1.9	%		4.9	%
Basic and Diluted Shares	Three months endedJune 30, 2025			Six months endedJune 30, 2025
Weighted-average common shares used in basic earnings per share calculations		413.2			415.7
Potentially dilutive securities:
Performance stock units, restricted stock units and other equity-based awards		4.3			4.5
Weighted-average common shares used in diluted earnings per share calculations		417.5			420.2
^(1)^	As of June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024<br>and June 30, 2024, total accumulated other comprehensive income (loss) includes $770 million, $704 million, $1,023 million, $(1,341) million and $624 million, net of taxes, respectively, related to changes in the discount rate used to remeasure<br>the liability for future policy benefits and related reinsurance recoverables.
---	---
^(2)^	See page 33 herein for a reconciliation of U.S. GAAP Basis ROE to Operating ROE.
---	---

Consolidated Quarterly Results

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Consolidated Net Income (Loss) by Quarter

(amounts in millions, except per share amounts)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	865		$	862		$	1,727		$	876		$	874		$	855		$	875		$	3,480
Net investment income		802			739			1,541			793			777			808			782			3,160
Net investment gains (losses)		(28	)		27			(1	)		(41	)		66			(61	)		49			13
Policy fees and other income		157			158			315			154			163			167			158			642
Total revenues		1,796			1,786			3,582			1,782			1,880			1,769			1,864			7,295
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		1,195			1,217			2,412			1,199			1,213			1,151			1,203			4,766
Liability remeasurement (gains) losses		60			4			64			88			34			39			(8	)		153
Changes in fair value of market risk benefits and associated hedges		(10	)		18			8			(3	)		21			(8	)		(23	)		(13	)
Interest credited		94			99			193			101			102			125			125			453
Acquisition and operating expenses, net of deferrals		249			236			485			253			259			229			236			977
Amortization of deferred acquisition costs and intangibles		57			60			117			62			62			60			65			249
Interest expense		26			26			52			27			28			30			30			115
Total benefits and expenses		1,671			1,660			3,331			1,727			1,719			1,626			1,628			6,700
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		125			126			251			55			161			143			236			595
Provision for income taxes		35			36			71			20			40			32			66			158
INCOME FROM CONTINUING OPERATIONS		90			90			180			35			121			111			170			437
Loss from discontinued operations, net of<br>taxes^(1)^		(7	)		(5	)		(12	)		(5	)		(3	)		(1	)		(1	)		(10	)
NET INCOME		83			85			168			30			118			110			169			427
Less: net income attributable to noncontrolling interests		32			31			63			31			33			34			30			128
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	$	51		$	54		$	105		$	(1	)	$	85		$	76		$	139		$	299
Earnings Per Share Data:
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders<br>per share
Basic	$	0.14		$	0.14		$	0.28		$	0.01		$	0.20		$	0.18		$	0.32		$	0.71
Diluted	$	0.14		$	0.14		$	0.28		$	0.01		$	0.20		$	0.17		$	0.31		$	0.70
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per<br>share
Basic	$	0.12		$	0.13		$	0.25		$	0.00		$	0.20		$	0.17		$	0.31		$	0.69
Diluted	$	0.12		$	0.13		$	0.25		$	0.00		$	0.19		$	0.17		$	0.31		$	0.68
Weighted-average common shares outstanding
Basic		413.2			418.3			415.7			425.3			430.8			436.4			443.0			433.9
Diluted		417.5			422.9			420.2			431.0			435.8			440.7			450.3			439.4
^(1)^	Loss from discontinued operations primarily relates to legal costs related to litigation involving the<br>company’s former lifestyle protection insurance business.
---	---

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Reconciliation of Net Income (Loss) to Adjusted OperatingIncome

(amounts in millions, except per share amounts)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’SCOMMONSTOCKHOLDERS	$	51		$	54		$	105		$	(1	)	$	85		$	76		$	139		$	299
Add: net income attributable to noncontrolling interests		32			31			63			31			33			34			30			128
NET INCOME		83			85			168			30			118			110			169			427
Less: loss from discontinued operations, net of taxes		(7	)		(5	)		(12	)		(5	)		(3	)		(1	)		(1	)		(10	)
INCOME FROM CONTINUING OPERATIONS		90			90			180			35			121			111			170			437
Less: net income from continuing operations attributable to noncontrolling interests		32			31			63			31			33			34			30			128
INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTHFINANCIAL, INC.’S COMMONSTOCKHOLDERS		58			59			117			4			88			77			140			309
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TOGENWORTH FINANCIAL, INC.’SCOMMON STOCKHOLDERS:
Net investment (gains) losses, net^(1)^		27			(28	)		(1	)		39			(66	)		60			(50	)		(17	)
Changes in fair value of market risk benefits attributable to interest rates, equity markets and<br>associated hedges^(2)^		(15	)		19			4			(24	)		17			(10	)		(26	)		(43	)
(Gains) losses on early extinguishment of debt,<br>net^(3)^		—			—			—			(2	)		(2	)		7			(1	)		2
Expenses related to restructuring		—			(1	)		(1	)		1			—			4			7			12
Taxes on adjustments		(2	)		2			—			(3	)		11			(13	)		15			10
ADJUSTED OPERATING INCOME	$	68		$	51		$	119		$	15		$	48		$	125		$	85		$	273
ADJUSTED OPERATING INCOME (LOSS):
Enact segment	$	141		$	137		$	278		$	137		$	148		$	165		$	135		$	585
Long-Term Care Insurance segment		(37	)		(30	)		(67	)		(104	)		(46	)		(29	)		3			(176	)
Life and Annuities segment:
Life Insurance		(20	)		(44	)		(64	)		2			(40	)		(23	)		(33	)		(94	)
Fixed Annuities		8			4			12			1			6			12			11			30
Variable Annuities		5			7			12			2			7			10			7			26
Total Life and Annuities segment		(7	)		(33	)		(40	)		5			(27	)		(1	)		(15	)		(38	)
Corporate and Other		(29	)		(23	)		(52	)		(23	)		(27	)		(10	)		(38	)		(98	)
ADJUSTED OPERATING INCOME	$	68		$	51		$	119		$	15		$	48		$	125		$	85		$	273
Earnings Per Share Data:
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per<br>share
Basic	$	0.12		$	0.13		$	0.25		$	0.00		$	0.20		$	0.17		$	0.31		$	0.69
Diluted	$	0.12		$	0.13		$	0.25		$	0.00		$	0.19		$	0.17		$	0.31		$	0.68
Adjusted operating income per share
Basic	$	0.16		$	0.12		$	0.29		$	0.04		$	0.11		$	0.29		$	0.19		$	0.63
Diluted	$	0.16		$	0.12		$	0.28		$	0.04		$	0.11		$	0.28		$	0.19		$	0.62
Weighted-average common shares outstanding
Basic		413.2			418.3			415.7			425.3			430.8			436.4			443.0			433.9
Diluted		417.5			422.9			420.2			431.0			435.8			440.7			450.3			439.4
^(1)^	Net investment (gains) losses were adjusted for the portion attributable to noncontrolling interests (see page<br>31 for reconciliation).
---	---
^(2)^	Changes in fair value of market risk benefits and associated hedges were adjusted to exclude changes in<br>reserves, attributed fees and benefit payments (see page 21 for reconciliation).
---	---
^(3)^	(Gains) losses on early extinguishment of debt are net of the portion attributable to noncontrolling interests<br>of $2 million for the three months ended June 30, 2024.
---	---

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Consolidated Balance Sheets

(amounts in millions)

	June 30,2025			March 31,2025			December 31,2024			September 30,2024			June 30,2024
ASSETS
Investments:
Fixed maturity securities available-for-sale, at fair value^(1)^	$	45,672		$	45,668		$	44,902		$	47,342		$	45,233
Equity securities, at fair value		516			496			515			458			435
Commercial mortgage loans		6,390			6,356			6,450			6,570			6,692
Less: Allowance for credit losses		(56	)		(36	)		(39	)		(38	)		(30	)
Commercial mortgage loans, net		6,334			6,320			6,411			6,532			6,662
Policy loans		2,366			2,316			2,310			2,316			2,359
Limited partnerships		3,337			3,241			3,142			3,100			2,968
Other invested assets		643			653			648			772			702
Total investments		58,868			58,694			57,928			60,520			58,359
Cash, cash equivalents and restricted cash		1,797			1,891			2,048			2,057			1,932
Accrued investment income		556			639			607			592			549
Deferred acquisition costs		1,680			1,729			1,779			1,831			1,884
Intangible assets		185			193			197			197			197
Reinsurance recoverable		17,662			17,744			17,679			18,626			17,739
Less: Allowance for credit losses		(23	)		(25	)		(24	)		(27	)		(26	)
Reinsurance recoverable, net		17,639			17,719			17,655			18,599			17,713
Other assets		479			489			444			443			518
Deferred tax asset		1,680			1,663			1,718			1,846			1,784
Market risk benefit assets		58			47			57			52			54
Separate account assets		4,394			4,192			4,438			4,623			4,553
Total assets	$	87,336		$	87,256		$	86,871		$	90,760		$	87,543
^(1)^	Amortized cost of $48,684 million, $48,837 million, $48,720 million, $48,961 million and $48,998 million as of<br>June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024 and June 30, 2024, respectively, and allowance for credit losses of $25 million, $14 million, $10 million, $— and $— as of June 30, 2025, March 31, 2025, December 31,<br>2024, September 30, 2024 and June 30, 2024, respectively.
---	---

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Consolidated Balance Sheets

(amounts in millions)

	June 30,2025
LIABILITIES AND EQUITY
Liabilities:
Future policy benefits		$	54,111		$	54,158		$	53,610		$	57,303		$	53,774
Policyholder account balances			14,163			14,447			14,594			14,864			15,047
Market risk benefit liabilities			453			516			465			532			500
Liability for policy and contract<br>claims			763			698			670			655			649
Unearned premiums			101			108			115			121			130
Other liabilities			2,052			1,933			2,026			1,859			1,973
Long-term borrowings			1,520			1,519			1,518			1,548			1,564
Separate account liabilities			4,394			4,192			4,438			4,623			4,553
Liabilities related to discontinued<br>operations^(1)^			—			4			4			—			—
Total liabilities			77,557			77,575			77,440			81,505			78,190
Equity:
Common stock			1			1			1			1			1
Additional paid-in capital			11,871			11,862			11,875			11,868			11,880
Accumulated other comprehensive income<br>(loss):
Change in the discount rate used to<br>measure future policy benefits			770			704			1,023			(1,341	)		624
All other			(2,142	)		(2,125	)		(2,665	)		(530	)		(2,311	)
Total accumulated other comprehensive<br>income (loss)			(1,372	)		(1,421	)		(1,642	)		(1,871	)		(1,687	)
Retained earnings			1,615			1,565			1,511			1,512			1,428
Treasury stock, at cost			(3,327	)		(3,297	)		(3,251	)		(3,199	)		(3,163	)
Total Genworth Financial, Inc.’s<br>stockholders’ equity			8,788			8,710			8,494			8,311			8,459
Noncontrolling interests			991			971			937			944			894
Total equity			9,779			9,681			9,431			9,255			9,353
Total liabilities and equity		$	87,336		$	87,256		$	86,871		$	90,760		$	87,543
^(1)^	Liabilities related to discontinued operations primarily relates to legal costs related to litigation involving<br>the sale of the company’s former lifestyle protection insurance business.
---	---

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Consolidated Balance Sheet by Segment

(amounts in millions)

	June 30, 2025
	Enact			Long-TermCare Insurance		Life andAnnuities			Corporateand<br>Other^(1) ****^			Total
ASSETS
Cash and investments	$	6,589		$	36,013	$	17,281		$	1,338		$	61,221
Deferred acquisition costs and intangible assets		55			814		982			14			1,865
Reinsurance recoverable, net		3			7,313		10,323			—			17,639
Deferred tax and other assets		130			1,585		317			127			2,159
Market risk benefit assets		—			—		58			—			58
Separate account assets		—			—		4,394			—			4,394
Total assets	$	6,777		$	45,725	$	33,355		$	1,479		$	87,336
LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	—		$	41,800	$	12,311		$	—		$	54,111
Policyholder account balances		—			—		14,163			—			14,163
Market risk benefit liabilities		—			—		453			—			453
Liability for policy and contract claims		552			—		203			8			763
Unearned premiums		101			—		—			—			101
Other liabilities		145			1,138		297			472			2,052
Borrowings		744			—		—			776			1,520
Separate account liabilities		—			—		4,394			—			4,394
Liabilities related to discontinued operations		—			—		—			—			—
Total liabilities		1,542			42,938		31,821			1,256			77,557
Equity:
Allocated equity, excluding accumulated other comprehensive income (loss)		4,329			2,668		2,440			723			10,160
Allocated accumulated other comprehensive income (loss)		(85	)		119		(906	)		(500	)		(1,372	)
Total Genworth Financial, Inc.’s stockholders’ equity		4,244			2,787		1,534			223			8,788
Noncontrolling interests		991			—		—			—			991
Total equity		5,235			2,787		1,534			223			9,779
Total liabilities and equity	$	6,777		$	45,725	$	33,355		$	1,479		$	87,336
^(1)^	Includes inter-segment eliminations and other businesses that are not individually reportable, including a<br>start-up business that offers fee-based services, advice, consulting and other aging care products and services through the company’s CareScout business (“CareScout”) and certain international businesses.
---	---

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Consolidated Balance Sheet by Segment

(amounts in millions)

	March 31, 2025
	Enact			Long-TermCare Insurance		Life andAnnuities			CorporateandOther^(1)^			Total
ASSETS
Cash and investments	$	6,528		$	35,813	$	17,615		$	1,268		$	61,224
Deferred acquisition costs and intangible assets		55			830		1,022			15			1,922
Reinsurance recoverable, net		3			7,308		10,408			—			17,719
Deferred tax and other assets		145			1,557		282			168			2,152
Market risk benefit assets		—			—		47			—			47
Separate account assets		—			—		4,192			—			4,192
Total assets	$	6,731		$	45,508	$	33,566		$	1,451		$	87,256
LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	—		$	41,741	$	12,417		$	—		$	54,158
Policyholder account balances		—			—		14,447			—			14,447
Market risk benefit liabilities		—			—		516			—			516
Liability for policy and contract claims		543			—		149			6			698
Unearned premiums		108			—		—			—			108
Other liabilities		207			1,004		282			440			1,933
Borrowings		743			—		—			776			1,519
Separate account liabilities		—			—		4,192			—			4,192
Liabilities related to discontinued operations		—			—		—			4			4
Total liabilities		1,601			42,745		32,003			1,226			77,575
Equity:
Allocated equity, excluding accumulated other comprehensive income (loss)		4,283			2,635		2,466			747			10,131
Allocated accumulated other comprehensive income (loss)		(124	)		128		(903	)		(522	)		(1,421	)
Total Genworth Financial, Inc.’s stockholders’ equity		4,159			2,763		1,563			225			8,710
Noncontrolling interests		971			—		—			—			971
Total equity		5,130			2,763		1,563			225			9,681
Total liabilities and equity	$	6,731		$	45,508	$	33,566		$	1,451		$	87,256
^(1)^	Includes inter-segment eliminations and the results of other businesses that are not individually reportable,<br>including the company’s start-up business, CareScout, and certain international businesses.
---	---

EnactSegment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Adjusted Operating Income—Enact Segment

(amounts in millions)

									2024
			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	245		$	245		$	490		$	246		$	249		$	244		$	241		$	980
Net investment income	66			63			129			62			62			59			57			240
Net investment gains (losses)	(8	)		(3	)		(11	)		(7	)		(1	)		(8	)		(6	)		(22	)
Policy fees and other income	1			2			3			1			—			3			—			4
Total revenues	304			307			611			302			310			298			292			1,202
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves	25			31			56			24			12			(17	)		20			39
Acquisition and operating expenses, net of deferrals	50			50			100			55			53			65			51			224
Amortization of deferred acquisition costs and intangibles	3			2			5			3			3			2			2			10
Interest expense	12			12			24			12			13			13			13			51
Total benefits and expenses	90			95			185			94			81			63			86			324
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	214			212			426			208			229			235			206			878
Provision for income taxes	46			46			92			45			49			51			45			190
INCOME FROM CONTINUING OPERATIONS	168			166			334			163			180			184			161			688
Less: net income attributable to noncontrolling interests	32			31			63			31			33			34			30			128
INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’SCOMMON<br>STOCKHOLDERS	136			135			271			132			147			150			131			560
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTHFINANCIAL, INC.’S<br>COMMON STOCKHOLDERS:
Net investment (gains) losses, net(1)	7			2			9			5			1			7			5			18
(Gains) losses on early extinguishment of debt,<br>net(2)	—			—			—			—			—			9			—			9
Expenses related to restructuring	(1	)		1			—			1			—			3			—			4
Taxes on adjustments	(1	)		(1	)		(2	)		(1	)		—			(4	)		(1	)		(6	)
ADJUSTED OPERATING INCOME	141		$	137		$	278		$	137		$	148		$	165		$	135		$	585
(1) Net investment<br>(gains) losses were adjusted for the portion of net investment gain (losses) attributable to noncontrolling interests as reconciled below:
Net investment (gains) losses, gross	8		$	3		$	11		$	7		$	1		$	8		$	6		$	22
Adjustment for net investment gains (losses) attributable to noncontrolling interests	(1	)		(1	)		(2	)		(2	)		—			(1	)		(1	)		(4	)
Net investment (gains) losses, net	7		$	2		$	9		$	5		$	1		$	7		$	5		$	18
(2) (Gains) losses<br>on early extinguishment of debt are net of the portion attributable to noncontrolling interests of 2 million for the three months ended June 30, 2024.

All values are in US Dollars.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Key Metrics—Enact Segment

(dollar amounts in millions)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
Direct Primary New Insurance Written (NIW)	$	13,254		$	9,818		$	23,072		$	13,266		$	13,591		$	13,619		$	10,526		$	51,002
Direct Primary Insurance In-Force	$	269,754		$	268,366					$	268,825		$	268,003		$	266,060		$	263,645
Direct Primary Risk In-Force	$	70,401		$	69,937					$	69,985		$	69,611		$	68,878		$	67,950
Primary Delinquencies		22,118			22,349			22,118			23,566			21,027			19,051			19,492			23,566
New Delinquencies		11,567			12,237			23,804			13,717			12,964			10,461			11,395			48,537
Paid Claims		(218	)		(179	)		(397	)		(191	)		(220	)		(160	)		(172	)		(743	)
Primary Cures^(1)^		(11,580	)		(13,275	)		(24,855	)		(10,987	)		(10,768	)		(10,742	)		(12,163	)		(44,660	)
Loss Ratio^(2)^		10	%		12	%		11	%		10	%		5	%		(7	)%		8	%		4	%
Available Assets Above PMIERsRequirements^(3)^	$	1,961		$	1,966					$	2,052		$	2,190		$	2,057		$	1,883
PMIERs SufficiencyRatio^(3)^		165	%		165	%					167	%		173	%		169	%		163	%
Reserves:
Direct primary case^(4)^	$	500		$	489					$	472		$	461		$	462		$	486
All other^(4)^		52			54						53			49			46			46
Total Reserves	$	552		$	543					$	525		$	510		$	508		$	532
^(1)^	Includes rescissions and claim denials.
---	---
^(2)^	The loss ratio is calculated using whole dollars and may be different than the ratio calculated using the<br>rounded numbers included herein.
---	---
^(3)^	The Private Mortgage Insurer Eligibility Requirements (PMIERs) sufficiency ratio is calculated as available<br>assets divided by required assets as defined within PMIERs. The current period PMIERs sufficiency ratio is an estimate due to the timing of the PMIERs filing.
---	---
^(4)^	Direct primary case reserves exclude loss adjustment expenses (LAE), pool, incurred but not reported (IBNR) and<br>reinsurance reserves. Other includes LAE, pool, IBNR and reinsurance reserves.
---	---

For additional information related to the Enactsegment, refer to the current quarter Quarterly Financial Supplement posted to the Enact investor page:

https://ir.enactmi.com/financials-and-filings/quarterly-results

Long-Term CareInsurance Segment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Adjusted Operating Income (Loss)—Long-Term Care Insurance Segment

(amounts in millions)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	578		$	571		$	1,149		$	587		$	581		$	564		$	578		$	2,310
Net investment income		516			451			967			499			483			494			464			1,940
Net investment gains (losses)		25			29			54			(21	)		71			(47	)		63			66
Total revenues		1,119			1,051			2,170			1,065			1,135			1,011			1,105			4,316
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		951			944			1,895			955			949			934			936			3,774
Liability remeasurement (gains) losses		50			(18	)		32			117			28			43			(16	)		172
Acquisition and operating expenses, net of deferrals		115			109			224			121			118			82			102			423
Amortization of deferred acquisition costs and intangibles		16			17			33			17			17			18			17			69
Total benefits and expenses		1,132			1,052			2,184			1,210			1,112			1,077			1,039			4,438
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(13	)		(1	)		(14	)		(145	)		23			(66	)		66			(122	)
Provision (benefit) for income taxes		4			6			10			(24	)		13			—			14			3
INCOME (LOSS) FROM CONTINUING OPERATIONS		(17	)		(7	)		(24	)		(121	)		10			(66	)		52			(125	)
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses		(25	)		(29	)		(54	)		21			(71	)		47			(63	)		(66	)
Expenses related to restructuring		—			—			—			—			—			—			1			1
Taxes on adjustments		5			6			11			(4	)		15			(10	)		13			14
ADJUSTED OPERATING INCOME (LOSS)	$	(37	)	$	(30	)	$	(67	)	$	(104	)	$	(46	)	$	(29	)	$	3		$	(176	)
Liability remeasurement (gains)losses^(1)^:
Cash flow assumption updates	$	8		$	(1	)	$	7		$	20		$	(63	)	$	(24	)	$	(2	)	$	(69	)
Actual variances from expected experience		42			(17	)		25			97			91			67			(14	)		241
Total	$	50		$	(18	)	$	32		$	117		$	28		$	43		$	(16	)	$	172
Ratio of the liability remeasurement (gains) losses to beginning reserves^(2)^		0.11	%		(0.04	)%		0.07	%		0.28	%		0.07	%		0.10	%		(0.04	)%		0.41	%
^(1)^	In the fourth quarter of 2024, the liability remeasurement loss of $117 million in the company’s long-term<br>care insurance business included an unfavorable impact from annual cash flow assumption updates of $20 million, reflecting net unfavorable updates to healthy life assumptions to better align with near-term experience, as well as an unfavorable<br>impact related to higher assumed benefit utilization related to cost of care inflation. These unfavorable impacts were partially offset by favorable assumption updates for future in-force rate action approvals based on recent experience and<br>short-term incidence assumptions for incurred but not reported claims. Also included in the liability remeasurement loss of $117 million were unfavorable actual variances from expected experience of $97 million associated with lower terminations and<br>higher claims.
---	---
^(2)^	The ratio of the liability remeasurement (gains) losses to beginning reserves is calculated by dividing the<br>liability remeasurement (gains) losses by the beginning liability for future policy benefits at the locked-in discount rate as of each applicable quarter.
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GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Statutory Impact of In-Force Rate Actions—Long-Term Care Insurance Segment

(amounts in millions)

	2025								2024
	2Q		1Q			Total			4Q			3Q			2Q			1Q			Total
Impact of in-force rate actions on pre-tax statutory earnings^(1)^
Premiums, premium tax, commissions and other expenses, net^(2)^	$	247	$	240		$	487		$	245		$	232		$	220		$	217		$	914
Reserve<br>changes^(2)^		95		97			192			97			90			102			114			403
Settlement impacts - reserve changes		—		5			5			19			133			222			240			614
Settlement impacts - litigation expenses and settlement payments		—		(2	)		(2	)		(6	)		(45	)		(99	)		(109	)		(259	)
Settlement impacts, net		—		3			3			13			88			123			131			355
Statutory earnings from in-force rate actions	$	342	$	340		$	682		$	355		$	410		$	445		$	462		$	1,672
^(1)^	Includes all implemented in-force rate actions since 2012.
---	---
^(2)^	Earned premium and reserve change estimates for statutory earnings reflect certain simplifying assumptions that<br>may vary materially from actual historical results, including but not limited to, a uniform rate of coinsurance and premium taxes in addition to consistent policyholder behavior over time. Actual behavior may differ significantly from these<br>assumptions and these impacts exclude reserve updates.
---	---

Life andAnnuities Segment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Adjusted Operating Income (Loss)—Life and Annuities Segment

(amounts in millions)

									2024
			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	39		$	44		$	83		$	40		$	42		$	44		$	53		$	179
Net investment income	216			220			436			227			228			250			254			959
Net investment gains (losses)	(17	)		1			(16	)		(8	)		(4	)		(4	)		(4	)		(20	)
Policy fees and other income	156			156			312			153			163			164			158			638
Total revenues	394			421			815			412			429			454			461			1,756
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves	220			244			464			222			253			237			250			962
Liability remeasurement (gains) losses	10			22			32			(29	)		6			(4	)		8			(19	)
Changes in fair value of market risk benefits and associated hedges	(10	)		18			8			(3	)		21			(8	)		(23	)		(13	)
Interest credited	94			99			193			101			102			125			125			453
Acquisition and operating expenses, net of deferrals	55			58			113			58			63			60			54			235
Amortization of deferred acquisition costs and intangibles	37			40			77			41			41			39			45			166
Total benefits and expenses	406			481			887			390			486			449			459			1,784
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(12	)		(60	)		(72	)		22			(57	)		5			2			(28	)
Provision (benefit) for income taxes	(3	)		(13	)		(16	)		4			(13	)		1			—			(8	)
INCOME (LOSS) FROM CONTINUING OPERATIONS	(9	)		(47	)		(56	)		18			(44	)		4			2			(20	)
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses	17			(1	)		16			8			4			4			4			20
Changes in fair value of market risk benefits attributable to interest rates, equity markets and<br>associated hedges(1)	(15	)		19			4			(24	)		17			(10	)		(26	)		(43	)
Taxes on adjustments	—			(4	)		(4	)		3			(4	)		1			5			5
ADJUSTED OPERATING INCOME (LOSS)	(7	)	$	(33	)	$	(40	)	$	5		$	(27	)	$	(1	)	$	(15	)	$	(38	)
Liability remeasurement (gains)<br>losses(2):
Cash flow assumption updates	—		$	—		$	—		$	27		$	—		$	—		$	—		$	27
Actual variances from expected experience	10			22			32			(56	)		6			(4	)		8			(46	)
Total	10		$	22		$	32		$	(29	)	$	6		$	(4	)	$	8		$	(19	)
(1) Changes<br>in fair value of market risk benefits and associated hedges were adjusted to exclude changes in reserves, attributed fees and benefit payments as reconciled below:
Changes in fair value of market risk benefits and associated hedges	(10	)	$	18		$	8		$	(3	)	$	21		$	(8	)	$	(23	)	$	(13	)
Adjustment for changes in reserves, attributed fees and benefit payments	(5	)		1			(4	)		(21	)		(4	)		(2	)		(3	)		(30	)
Changes in fair value of market risk benefits attributable to interest rates, equity markets and<br>associated hedges	(15	)	$	19		$	4		$	(24	)	$	17		$	(10	)	$	(26	)	$	(43	)
(2) In the fourth<br>quarter of 2024, the liability remeasurement gain of 29 million was primarily related to the company’s life insurance products, reflecting net favorable model and cash flow assumption updates of 30 million, partially offset by an unfavorable<br>update to mortality assumptions for universal life insurance contracts originating from term life insurance conversions and unfavorable interest rate assumption updates.

All values are in US Dollars.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Adjusted Operating Income (Loss)—Life and Annuities Segment—Life Insurance

(amounts in millions)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	39		$	44		$	83		$	40		$	42		$	44		$	53		$	179
Net investment income		139			144			283			147			146			167			167			627
Net investment gains (losses)		(9	)		—			(9	)		(3	)		(2	)		5			5			5
Policy fees and other income		130			129			259			125			135			136			129			525
Total revenues		299			317			616			309			321			352			354			1,336
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		183			201			384			187			213			200			208			808
Liability remeasurement (gains) losses		9			25			34			(28	)		5			—			11			(12	)
Interest credited		73			77			150			78			78			101			99			356
Acquisition and operating expenses, net of deferrals		36			36			72			38			41			43			35			157
Amortization of deferred acquisition costs and intangibles		33			34			67			35			36			33			38			142
Total benefits and expenses		334			373			707			310			373			377			391			1,451
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(35	)		(56	)		(91	)		(1	)		(52	)		(25	)		(37	)		(115	)
Benefit for income taxes		(8	)		(12	)		(20	)		(1	)		(11	)		(5	)		(8	)		(25	)
LOSS FROM CONTINUING OPERATIONS		(27	)		(44	)		(71	)		—			(41	)		(20	)		(29	)		(90	)
ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:
Net investment (gains) losses		9			—			9			3			2			(5	)		(5	)		(5	)
Taxes on adjustments		(2	)		—			(2	)		(1	)		(1	)		2			1			1
ADJUSTED OPERATING INCOME (LOSS)	$	(20	)	$	(44	)	$	(64	)	$	2		$	(40	)	$	(23	)	$	(33	)	$	(94	)

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Adjusted Operating Income—Life and Annuities Segment—Fixed Annuities

(amounts in millions)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Net investment income	$	70		$	70		$	140		$	73		$	76		$	77		$	80		$	306
Net investment gains (losses)		(8	)		1			(7	)		(5	)		(2	)		(9	)		(9	)		(25	)
Policy fees and other income		1			2			3			2			1			2			2			7
Total revenues		63			73			136			70			75			70			73			288
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		30			34			64			30			34			33			36			133
Liability remeasurement (gains) losses		1			(3	)		(2	)		(1	)		1			(4	)		(3	)		(7	)
Changes in fair value of market risk benefits and associated hedges		(4	)		9			5			(4	)		8			(4	)		(7	)		(7	)
Interest credited		20			21			41			22			23			23			25			93
Acquisition and operating expenses, net of deferrals		9			12			21			10			12			9			8			39
Amortization of deferred acquisition costs and intangibles		2			2			4			2			2			2			3			9
Total benefits and expenses		58			75			133			59			80			59			62			260
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		5			(2	)		3			11			(5	)		11			11			28
Provision (benefit) for income taxes		1			—			1			2			(1	)		3			2			6
INCOME (LOSS) FROM CONTINUING OPERATIONS		4			(2	)		2			9			(4	)		8			9			22
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses		8			(1	)		7			5			2			9			9			25
Changes in fair value of market risk benefits attributable to interest rates, equity markets<br>and<br>associated hedges^(1)^		(4	)		9			5			(15	)		9			(3	)		(7	)		(16	)
Taxes on adjustments		—			(2	)		(2	)		2			(1	)		(2	)		—			(1	)
ADJUSTED OPERATING INCOME	$	8		$	4		$	12		$	1		$	6		$	12		$	11		$	30
^(1)^ Changes<br>in fair value of market risk benefits and associated hedges were adjusted to exclude changes in reserves, attributed fees and benefit payments as reconciled below:
Changes in fair value of market risk benefits and associated hedges	$	(4	)	$	9		$	5		$	(4	)	$	8		$	(4	)	$	(7	)	$	(7	)
Adjustment for changes in reserves, attributed fees and benefit payments		—			—			—			(11	)		1			1			—			(9	)
Changes in fair value of market risk benefits attributable to interest rates, equity markets<br>and<br>associated hedges	$	(4	)	$	9		$	5		$	(15	)	$	9		$	(3	)	$	(7	)	$	(16	)

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Adjusted Operating Income—Life and Annuities Segment—Variable Annuities

(amounts in millions)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Net investment income	$	7		$	6		$	13		$	7		$	6		$	6		$	7		$	26
Policy fees and other income		25			25			50			26			27			26			27			106
Total revenues		32			31			63			33			33			32			34			132
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		7			9			16			5			6			4			6			21
Changes in fair value of market risk benefits and associated hedges		(6	)		9			3			1			13			(4	)		(16	)		(6	)
Interest credited		1			1			2			1			1			1			1			4
Acquisition and operating expenses, net of deferrals		10			10			20			10			10			8			11			39
Amortization of deferred acquisition costs and intangibles		2			4			6			4			3			4			4			15
Total benefits and expenses		14			33			47			21			33			13			6			73
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		18			(2	)		16			12			—			19			28			59
Provision (benefit) for income taxes		4			(1	)		3			3			(1	)		3			6			11
INCOME (LOSS) FROM CONTINUING OPERATIONS		14			(1	)		13			9			1			16			22			48
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Changes in fair value of market risk benefits attributable to interest rates, equity markets<br>and<br>associated hedges^(1)^		(11	)		10			(1	)		(9	)		8			(7	)		(19	)		(27	)
Taxes on adjustments		2			(2	)		—			2			(2	)		1			4			5
ADJUSTED OPERATING INCOME	$	5		$	7		$	12		$	2		$	7		$	10		$	7		$	26
^(1)^ Changes<br>in fair value of market risk benefits and associated hedges were adjusted to exclude changes in reserves, attributed fees and benefit payments as reconciled below:
Changes in fair value of market risk benefits and associated hedges	$	(6	)	$	9		$	3		$	1		$	13		$	(4	)	$	(16	)	$	(6	)
Adjustment for changes in reserves, attributed fees and benefit payments		(5	)		1			(4	)		(10	)		(5	)		(3	)		(3	)		(21	)
Changes in fair value of market risk benefits attributable to interest rates, equity<br>markets<br>and associated hedges	$	(11	)	$	10		$	(1	)	$	(9	)	$	8		$	(7	)	$	(19	)	$	(27	)

Corporate andOther

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Adjusted Operating Loss—Corporate and Other^(1)^****

(amounts in millions)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	3		$	2		$	5		$	3		$	2		$	3		$	3		$	11
Net investment income		4			5			9			5			4			5			7			21
Net investment gains (losses)		(28	)		—			(28	)		(5	)		—			(2	)		(4	)		(11	)
Total revenues		(21	)		7			(14	)		3			6			6			6			21
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		(1	)		(2	)		(3	)		(2	)		(1	)		(3	)		(3	)		(9	)
Acquisition and operating expenses, net of deferrals		29			19			48			19			25			22			29			95
Amortization of deferred acquisition costs and intangibles		1			1			2			1			1			1			1			4
Interest expense		14			14			28			15			15			17			17			64
Total benefits and expenses		43			32			75			33			40			37			44			154
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(64	)		(25	)		(89	)		(30	)		(34	)		(31	)		(38	)		(133	)
Provision (benefit) for income taxes		(12	)		(3	)		(15	)		(5	)		(9	)		(20	)		7			(27	)
LOSS FROM CONTINUING OPERATIONS		(52	)		(22	)		(74	)		(25	)		(25	)		(11	)		(45	)		(106	)
ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:
Net investment (gains) losses		28			—			28			5			—			2			4			11
(Gains) losses on early extinguishment of debt		—			—			—			(2	)		(2	)		(2	)		(1	)		(7	)
Expenses related to restructuring		1			(2	)		(1	)		—			—			1			6			7
Taxes on adjustments		(6	)		1			(5	)		(1	)		—			—			(2	)		(3	)
ADJUSTED OPERATING LOSS	$	(29	)	$	(23	)	$	(52	)	$	(23	)	$	(27	)	$	(10	)	$	(38	)	$	(98	)
^(1)^	Includes inter-segment eliminations and the results of other businesses that are not individually reportable,<br>including the company’s start-up business, CareScout, and certain international businesses.
---	---

AdditionalFinancial Data

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Investments Summary

(amounts in millions)

		June 30, 2025					March 31, 2025					December 31, 2024					September 30, 2024					June 30, 2024
		CarryingAmount		% ofTotal			CarryingAmount		% ofTotal			CarryingAmount		% ofTotal			CarryingAmount		% ofTotal			CarryingAmount		% ofTotal
Composition of Investment Portfolio
Fixed maturity securities:
Investment grade:
Public fixed maturity securities		$	26,326		43	%	$	26,470		43	%	$	26,159		44	%	$	27,750		45	%	$	26,250		43	%
Private fixed maturity securities			11,341		19			11,166		18			10,882		18			11,369		18			10,933		18
Residential mortgage-backed<br>securities^(1)^			1,044		2			911		2			811		1			860		1			851		1
Commercial mortgage-backed securities			1,331		2			1,309		2			1,293		2			1,360		2			1,312		2
Other asset-backed securities			2,026		3			2,134		4			2,120		4			2,137		3			2,207		4
State and political subdivisions			2,135		4			2,169		4			2,149		4			2,266		4			2,168		4
Non-investment grade fixed maturity securities			1,469		2			1,509		2			1,488		2			1,600		3			1,512		3
Equity securities:
Common stocks and mutual funds			447		1			415		1			429		1			422		1			400		1
Preferred stocks			69		—			81		—			86		—			36		—			35		—
Commercial mortgage loans, net			6,334		10			6,320		11			6,411		11			6,532		10			6,662		11
Policy loans			2,366		4			2,316		4			2,310		4			2,316		4			2,359		4
Limited partnerships			3,337		6			3,241		5			3,142		5			3,100		5			2,968		5
Cash, cash equivalents, restricted cash and short-term investments			1,808		3			1,895		3			2,052		3			2,059		3			1,944		3
Other invested assets:	Derivatives:
	Interest rate swaps		16		—			23		—			18		—			60		—			26		—
	Foreign currency swaps		3		—			12		—			13		—			9		—			12		—
	Equity index options		17		—			12		—			19		—			21		—			21		—
	Forward bond purchase commitments		6		—			19		—			6		—			60		—			21		—
	Foreign currency forward contracts		—		—			1		—			—		—			—		—			—		—
	Other		590		1			582		1			588		1			620		1			610		1
Total invested assets and cash		$	60,665		100	%	$	60,585		100	%	$	59,976		100	%	$	62,577		100	%	$	60,291		100	%
Public Fixed Maturity Securities—CreditQuality:
NRSRO^(2)^Designation
AAA		$	1,498		5	%	$	2,467		8	%	$	2,414		8	%	$	2,558		8	%	$	2,456		8	%
AA			7,063		23			6,158		20			5,988		20			6,311		19			6,017		20
A			9,031		29			8,809		28			8,537		28			9,132		28			8,671		28
BBB			12,951		41			13,165		42			13,208		42			13,948		43			13,184		42
BB			488		2			477		2			476		2			562		2			496		2
B			46		—			27		—			27		—			28		—			27		—
CCC and lower			—		—			—		—			—		—			—		—			—		—
Total public fixed maturity securities		$	31,077		100	%	$	31,103		100	%	$	30,650		100	%	$	32,539		100	%	$	30,851		100	%
Private Fixed Maturity Securities—CreditQuality:
NRSRO^(2)^Designation
AAA		$	652		4	%	$	766		5	%	$	777		5	%	$	828		6	%	$	811		6	%
AA			1,580		11			1,506		10			1,527		11			1,555		11			1,510		10
A			4,310		30			4,136		28			4,015		28			4,165		28			4,050		28
BBB			7,118		49			7,152		50			6,948		49			7,245		48			7,022		50
BB			828		6			889		6			850		6			883		6			891		6
B			71		—			73		1			81		1			98		1			70		—
CCC and lower			21		—			28		—			39		—			14		—			13		—
Not rated			15		—			15		—			15		—			15		—			15		—
Total private fixed maturity securities		$	14,595		100	%	$	14,565		100	%	$	14,252		100	%	$	14,803		100	%	$	14,382		100	%
^(1)^	The company does not have any material exposure to residential mortgage-backed securities collateralized debt<br>obligations (CDOs).
---	---
^(2)^	Nationally Recognized Statistical Rating Organizations.
---	---

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Fixed Maturity Securities Summary

(amounts in millions)

	June 30, 2025					March 31, 2025					December 31, 2024					September 30, 2024					June 30, 2024
	Fair<br>Value		% ofTotal			FairValue		% ofTotal			FairValue		% of<br>Total			Fair Value		% of<br>Total			FairValue		% of<br>Total
Fixed Maturity Securities - Security Sector:
U.S. government, agencies and government-sponsored enterprises	$	3,527		8	%	$	3,594		8	%	$	3,493		8	%	$	3,717		8	%	$	3,512		8	%
State and political subdivisions		2,135		5			2,169		5			2,149		5			2,266		5			2,168		5
Foreign government		1,121		2			1,029		2			909		2			863		2			709		2
U.S. corporate		27,154		59			27,229		59			26,771		59			28,313		60			26,813		58
Foreign corporate		7,302		16			7,260		16			7,327		16			7,804		16			7,636		17
Residential mortgage-backed securities		1,044		2			911		2			811		2			859		2			851		2
Commercial mortgage-backed securities		1,340		3			1,318		3			1,301		3			1,360		3			1,312		3
Other asset-backed securities		2,049		5			2,158		5			2,141		5			2,160		4			2,232		5
Total fixed maturity securities	$	45,672		100	%	$	45,668		100	%	$	44,902		100	%	$	47,342		100	%	$	45,233		100	%
Corporate Bond Holdings - Industry Sector:
Investment Grade:
Finance and insurance	$	8,587		25	%	$	8,532		25	%	$	8,546		26	%	$	9,089		25	%	$	8,695		26	%
Utilities		5,043		15			4,991		15			4,899		14			5,189		14			4,887		14
Energy		3,265		10			3,253		9			3,167		9			3,436		10			3,186		9
Consumer - non-cyclical		4,871		14			4,884		15			4,822		14			5,100		14			4,823		14
Consumer - cyclical		1,403		4			1,474		4			1,471		4			1,556		4			1,542		4
Capital goods		2,818		8			2,791		8			2,699		8			2,755		8			2,606		8
Industrial		1,641		5			1,679		5			1,689		5			1,802		5			1,740		5
Technology and communications		3,345		9			3,365		9			3,268		10			3,454		10			3,381		10
Transportation		1,495		4			1,502		4			1,485		4			1,538		4			1,461		4
Other		697		2			700		2			744		2			780		2			770		2
Subtotal		33,165		96			33,171		96			32,790		96			34,699		96			33,091		96
Non-Investment Grade:
Finance and insurance		135		—			140		1			139		—			185		1			185		1
Utilities		69		—			73		—			76		1			80		—			55		—
Energy		129		—			163		1			151		1			167		1			183		1
Consumer - non-cyclical		137		1			123		—			121		—			134		—			128		—
Consumer - cyclical		249		1			258		1			256		1			270		1			242		1
Capital goods		143		1			133		—			135		—			138		—			134		—
Industrial		166		—			166		—			149		1			160		—			157		—
Technology and communications		206		1			181		1			181		—			182		1			175		1
Transportation		—		—			25		—			25		—			24		—			23		—
Other		57		—			56		—			75		—			78		—			76		—
Subtotal		1,291		4			1,318		4			1,308		4			1,418		4			1,358		4
Total	$	34,456		100	%	$	34,489		100	%	$	34,098		100	%	$	36,117		100	%	$	34,449		100	%
Fixed Maturity Securities - Contractual Maturity Dates:
Due in one year or less	$	1,481		3	%	$	1,413		3	%	$	1,419		3	%	$	1,311		3	%	$	1,254		3	%
Due after one year through five years		8,573		19			8,474		19			7,895		18			8,238		17			8,022		18
Due after five years through ten years		11,040		24			11,132		24			11,431		25			11,895		26			11,427		25
Due after ten years		20,145		44			20,262		44			19,904		44			21,519		45			20,135		44
Subtotal		41,239		90			41,281		90			40,649		90			42,963		91			40,838		90
Mortgage and asset-backed securities		4,433		10			4,387		10			4,253		10			4,379		9			4,395		10
Total fixed maturity securities	$	45,672		100	%	$	45,668		100	%	$	44,902		100	%	$	47,342		100	%	$	45,233		100	%

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

U.S. GAAP Net Investment Income Yields

(amounts in millions)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
U.S. GAAP Net Investment Income
Fixed maturity securities - taxable	$	570		$	559		$	1,129		$	556		$	557		$	571		$	554		$	2,238
Fixed maturity securities - non-taxable		—			—			—			1			—			—			1			2
Equity securities		3			3			6			5			3			3			2			13
Commercial mortgage loans		72			73			145			73			74			75			75			297
Policy loans		32			36			68			37			38			56			58			189
Limited partnerships		69			8			77			60			36			36			20			152
Other invested assets		62			61			123			65			70			67			68			270
Cash, cash equivalents, restricted cash and short-term investments		19			22			41			23			24			25			27			99
Gross investment income before expenses and fees		827			762			1,589			820			802			833			805			3,260
Expenses and fees		(25	)		(23	)		(48	)		(27	)		(25	)		(25	)		(23	)		(100	)
Net investment income	$	802		$	739		$	1,541		$	793		$	777		$	808		$	782		$	3,160
Annualized Yields
Fixed maturity securities - taxable		4.7	%		4.6	%		4.6	%		4.6	%		4.6	%		4.7	%		4.5	%		4.6	%
Fixed maturity securities - non-taxable		—	%		—	%		—	%		11.8	%		—	%		—	%		10.8	%		5.7	%
Equity securities		2.4	%		2.4	%		2.4	%		4.1	%		2.7	%		2.8	%		1.9	%		2.9	%
Commercial mortgage loans		4.6	%		4.6	%		4.6	%		4.5	%		4.5	%		4.5	%		4.4	%		4.5	%
Policy loans		5.5	%		6.2	%		5.8	%		6.4	%		6.5	%		9.8	%		10.5	%		8.3	%
Limited partnerships^(1)^		8.4	%		1.0	%		4.8	%		7.7	%		4.7	%		4.9	%		2.8	%		5.1	%
Other invested assets^(2)^		42.3	%		41.7	%		41.9	%		43.0	%		45.5	%		45.6	%		47.7	%		45.7	%
Cash, cash equivalents, restricted cash and short-term investments		4.1	%		4.5	%		4.3	%		4.5	%		4.8	%		5.1	%		5.1	%		4.8	%
Gross investment income before expenses and fees		5.2	%		4.8	%		5.0	%		5.1	%		5.0	%		5.2	%		5.0	%		5.1	%
Expenses and fees		(0.2	)%		(0.2	)%		(0.2	)%		(0.1	)%		(0.1	)%		(0.2	)%		(0.1	)%		(0.2	)%
Net investment income		5.0	%		4.6	%		4.8	%		5.0	%		4.9	%		5.0	%		4.9	%		4.9	%

Yields are based on net investment income as reported under U.S. GAAP and are consistent with how the company measures its investment performance for management purposes. Yields are annualized, for interim periods, and are calculated as net investment income as a percentage of average quarterly asset carrying values except for fixed maturity securities, derivatives and derivative counterparty collateral, which exclude unrealized fair value adjustments. See page 35 herein for average invested assets and cash used in the yield calculation.

^(1)^	Limited partnership investments are primarily equity-based and do not have fixed returns by period.<br>
^(2)^	Investment income for other invested assets includes amortization of terminated cash flow hedges, which have no<br>corresponding book value within the yield calculation.
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GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Net Investment Gains (Losses)—Detail

(amounts in millions)

	2025									2024
	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
Realized investment gains (losses):
Net realized gains (losses) on available-for-sale securities:
Fixed maturity securities:
U.S. corporate	$	(15	)	$	—		$	(15	)	$	(8	)	$	(1	)	$	(9	)	$	(17	)	$	(35	)
U.S. government, agencies and government-sponsored enterprises		1			—			1			—			—			3			1			4
Foreign corporate		(1	)		(2	)		(3	)		3			(6	)		(7	)		(3	)		(13	)
Foreign government		(3	)		(2	)		(5	)		(3	)		2			1			—			—
Mortgage-backed securities		—			—			—			(1	)		(2	)		(7	)		(3	)		(13	)
Asset-backed securities		—			—			—			—			—			—			—			—
Total net realized gains (losses) on available-for-sale securities		(18	)		(4	)		(22	)		(9	)		(7	)		(19	)		(22	)		(57	)
Net realized gains (losses) on equity securities sold		4			1			5			9			—			—			—			9
Total net realized investment gains (losses)		(14	)		(3	)		(17	)		—			(7	)		(19	)		(22	)		(48	)
Net change in allowance for credit losses on available-for-sale fixed maturity securities		(11	)		(4	)		(15	)		(10	)		—			7			—			(3	)
Write-down of available-for-sale fixed maturity securities		(4	)		—			(4	)		(9	)		—			—			—			(9	)
Net unrealized gains (losses) on equity securities still held		32			(14	)		18			17			22			12			32			83
Net unrealized gains (losses) on limited partnerships		25			38			63			(3	)		55			(52	)		43			43
Commercial mortgage loans		(20	)		3			(17	)		(5	)		(8	)		(1	)		(2	)		(16	)
Derivative instruments		(36	)		6			(30	)		(21	)		10			(8	)		1			(18	)
Other		—			1			1			(10	)		(6	)		—			(3	)		(19	)
Net investment gains (losses), gross		(28	)		27			(1	)		(41	)		66			(61	)		49			13
Adjustment for net investment (gains) losses attributable to noncontrolling interests		1			1			2			2			—			1			1			4
Net investment gains (losses), net	$	(27	)	$	28		$	1		$	(39	)	$	66		$	(60	)	$	50		$	17

Reconciliationsof Non-GAAP Measures

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Reconciliation of Operating ROE

(amounts in millions)

Twelve Month Rolling Average ROE	Twelve months ended
U.S. GAAP Basis ROE	June 30,2025			March 31,2025			December 31,2024			September 30,2024			June 30,2024
Net income available to Genworth Financial, Inc.’s common stockholders for the twelve months<br>ended^(1)^	$	189		$	214		$	299		$	88		$	32
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated<br>other comprehensive<br>income (loss)^(2)^	$	10,151		$	10,145		$	10,120		$	10,148		$	10,176
U.S. GAAP Basis ROE^(1)/(2)^		1.9	%		2.1	%		3.0	%		0.9	%		0.3	%
Operating ROE
Adjusted operating income for the twelve months<br>ended^(1)^	$	182		$	239		$	273		$	28		$	22
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated<br>other comprehensive<br>income (loss)^(2)^	$	10,151		$	10,145		$	10,120		$	10,148		$	10,176
Operating ROE^(1)/(2)^		1.8	%		2.4	%		2.7	%		0.3	%		0.2	%
Quarterly Average ROE	Three months ended
U.S. GAAP Basis ROE	June 30,2025			March 31,2025			December 31,2024			September 30,2024			June 30,2024
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the period<br>ended^(3)^	$	51		$	54		$	(1	)	$	85		$	76
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period,<br>excluding accumulated other<br>comprehensive income (loss)^(4)^	$	10,146		$	10,131		$	10,159		$	10,164		$	10,123
Annualized U.S. GAAP Quarterly Basis<br>ROE^(3)/(4)^		2.0	%		2.1	%		—	%		3.3	%		3.0	%
Operating ROE
Adjusted operating income for the period<br>ended^(3)^	$	68		$	51		$	15		$	48		$	125
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period,<br>excluding accumulated other<br>comprehensive income (loss)^(4)^	$	10,146		$	10,131		$	10,159		$	10,164		$	10,123
Annualized Operating Quarterly Basis ROE^(3)/(4)^		2.7	%		2.0	%		0.6	%		1.9	%		4.9	%

Non-GAAP Definition for Operating ROE

The company references the non-GAAP financial measure entitled “operating return on equity” or “operating ROE.” The company defines operating ROE as adjusted operating income (loss) divided by average ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss). Management believes that analysis of operating ROE enhances understanding of the efficiency with which the company deploys its capital. However, operating ROE is not a substitute for net income (loss) available to Genworth Financial, Inc.’s common stockholders divided by average ending Genworth Financial, Inc.’s stockholders’ equity determined in accordance with U.S. GAAP.

^(1)^	The twelve months ended information is derived by adding the four quarters of net income (loss) available to<br>Genworth Financial, Inc.’s common stockholders and adjusted operating income from page 9 herein.
^(2)^	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other<br>comprehensive income (loss), is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss), for the most recent five quarters.
---	---
^(3)^	Net income (loss) available to Genworth Financial, Inc.’s common stockholders and adjusted operating income<br>from page 9 herein.
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^(4)^	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other<br>comprehensive income (loss), is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss), over two consecutive quarters.
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GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Reconciliation of Consolidated Expense Ratio

(amounts in millions)

		2025									2024
	GAAP Basis Expense Ratio	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
(A)	Acquisition and operating expenses, net of deferrals	$	249		$	236		$	485		$	253		$	259		$	229		$	236		$	977
(B)	Premiums	$	865		$	862		$	1,727		$	876		$	874		$	855		$	875		$	3,480
(A) / (B)	GAAP Basis Expense Ratio		29	%		27	%		28	%		29	%		30	%		27	%		27	%		28	%
	Adjusted Expense Ratio
	Acquisition and operating expenses, net of deferrals	$	249		$	236		$	485		$	253		$	259		$	229		$	236		$	977
	Less: Legal settlement (recoveries) expenses^(1)^		—			—			—			—			—			(24	)		(4	)		(28	)
	Less: (Gains) losses on early extinguishment of debt^(2)^		—			—			—			(2	)		(2	)		9			(1	)		4
(C)	Adjusted acquisition and operating expenses, net of deferrals	$	249		$	236		$	485		$	255		$	261		$	244		$	241		$	1,001
	Premiums	$	865		$	862		$	1,727		$	876		$	874		$	855		$	875		$	3,480
	Add: Policy fees and other income		157			158			315			154			163			167			158			642
(D)	Adjusted revenues	$	1,022		$	1,020		$	2,042		$	1,030		$	1,037		$	1,022		$	1,033		$	4,122
(C) / (D)	Adjusted expense ratio		24	%		23	%		24	%		25	%		25	%		24	%		23	%		24	%

Non-GAAP Definition for Adjusted Expense Ratio

The company references the non-GAAP financial measure entitled “adjusted expense ratio” as a measure of its operating performance. The company defines adjusted expense ratio as acquisition and operating expenses, net of deferrals, less certain reinsurance expenses, less legal settlement (recoveries) expenses incurred in the company’s long-term care insurance business, less (gains) losses on early extinguishment of debt divided by the sum of premiums, policy fees and other income. Management believes that the expense ratio analysis enhances understanding of the operating performance of the company. However, the adjusted expense ratio as defined by the company should not be viewed as a substitute for the GAAP basis expense ratio.

^(1)^	Estimated pre-tax class action attorney fees incurred in connection with legal settlements in the<br>company’s long-term care insurance business. These amounts are accrued in the period the court settlement occurs. Amounts in the second and first quarters of 2024 represent net insurance recoveries on legal costs incurred in connection with<br>these legal settlements.
^(2)^	(Gains) losses on early extinguishment of debt include the portion attributable to noncontrolling interests of<br>$2 million for the three months ended June 30, 2024.
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GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

SECOND QUARTER 2025

Reconciliation of Reported Yield to Core Yield

		2025									2024
	(Assets - amounts in billions)	2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
	Reported - Total Invested Assets and Cash	$	60.7		$	60.6		$	60.7		$	60.0		$	62.6		$	60.3		$	61.0		$	60.0
	Subtract:
	Unrealized gains (losses)		(2.9	)		(3.1	)		(2.9	)		(3.8	)		(1.5	)		(3.7	)		(3.1	)		(3.8	)
	Adjusted end of period invested assets and cash	$	63.6		$	63.7		$	63.6		$	63.8		$	64.1		$	64.0		$	64.1		$	63.8
(A)	Average Invested Assets and Cash Used in Reported and Core YieldCalculation	$	63.6		$	63.7		$	63.7		$	63.9		$	64.0		$	64.0		$	64.3		$	64.1
	(Income - amounts in millions)
(B)	Reported - Net Investment Income	$	802		$	739		$	1,541		$	793		$	777		$	808		$	782		$	3,160
	Subtract:
	Bond calls and commercial mortgage loan prepayments		1			2			3			—			1			1			1			3
	Other non-core items^(1)^		5			2			7			5			4			4			2			15
(C)	Core Net Investment Income	$	796		$	735		$	1,531		$	788		$	772		$	803		$	779		$	3,142
(B) / (A)	Reported Yield		5.04	%		4.64	%		4.84	%		4.97	%		4.86	%		5.04	%		4.87	%		4.93	%
(C) / (A)	Core Yield		5.00	%		4.62	%		4.81	%		4.93	%		4.82	%		5.02	%		4.85	%		4.91	%

Note: Yields have been annualized.

Non-GAAP Definition for Core Yield

The company references the non-GAAP financial measure entitled “core yield” as a measure of investment yield. The company defines core yield as the investment yield adjusted for items that do not reflect the underlying performance of the investment portfolio. Management believes that analysis of core yield enhances understanding of the investment yield of the company. However, core yield is not a substitute for investment yield determined in accordance with U.S. GAAP.

^(1)^	Includes cost basis adjustments on structured securities and various other immaterial items.<br>