Genworth Financial Inc · NYSE:GNW
Genworth Financial — Shareholder Meeting (May 2023)
21 slides from Genworth Financial's shareholder meeting presentation, May 2023
Slide 1: 2023 Annual Meeting of Stockholders
2023 Annual Meeting of Stockholders May 2023 1
Slide 2: Today's speakers
Today’s speakers Melina E. Higgins Thomas J. McInerney Director and Non-Executive President & Chair of the Board Chief Executive Officer Michael McCullough Amy Rein Corporate Secretary VP, Head of Communications 2
Slide 3: Board's Director nominees
Board's Director nominees G. Kent Conrad Karen E. Dyson Jill R. Goodman Melina E. Higgins Thomas J. McInerney Howard D. Mills, III Robert P. Restrepo Jr. Elaine A. Sarsynski Ramsey D. Smith 3
Slide 4: Agenda
AGENDA Call the meeting to order Management presentation Proposals & discussion a. Proposal No. 1 – Election of Directors b. Proposal No. 2 – Advisory vote to approve Named Executive Officer compensation c. Proposal No. 3 – Advisory vote to approve the frequency of the advisory vote to approve Named
Slide 5: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This presentation contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects," "intends," "anticipates," "plans,"
Slide 6: Annual meeting duly called & quorum present
Annual meeting duly called & quorum present Notice requirements satisfied March 20, 2023 record date Affidavit of mailing attesting to distribution of the 2023 meeting notice, the proxy statement and the 2022 annual report to stockholders Quorum of shares of Genworth’s Class A common stock o
Slide 7: 2023 Annual Meeting of Stockholders
2023 Annual Meeting of Stockholders May 2023 7
Slide 8: A strong foundation
A strong foundation Supported by a focus on governance and sustainable business practices A diverse skill set across Best practices on Furthered commitment to our Board of Directors executive compensation sustainability ─ Insurance and global financial ─ Total Shareholder Return ─ Adopted a Statemen
Slide 9: Solid financial performance
Solid financial performance • FULL-YEAR 2022 • FIRST QUARTER 2023 $62 million • $609million $633million Consolidated net income4 Consolidated net Consolidated $84 million • income1 adjusted Consolidated adjusted operating operating income1,2 income2,4 $192 million • U.S. life insurance companies’ $4
Slide 10: Strategic progress continues
Strategic progress continues $876million $218million $405million in holding company debt, below of share buybacks completed in capital return from Enact $1 billion target through May 16, 2023 at an since their IPO average price of $5.03 per share $23.8billion $1-1.5billion in achieved long-term care
Slide 11: Our Strategic Priorities
• Our Strategic Priorities • Further strengthen legacy long-term care insurance financial and operational capabilities to address customer needs • Allocate capital from Enact to drive long-term shareholder value • Leverage unparalleled long- term care expertise to develop innovative aging care servi
Slide 12: Proposals to be voted on
Proposals to be voted on Proposal 1 Election of Nine Directors Proposal 2 Advisory Vote to Approve Named Executive Officer Compensation Proposal 3 Advisory vote to approve the frequency of the advisory vote to approve Named Executive Officers Compensation Proposal 4 Ratification of the Selection of
Slide 13: Opening of the polls & proposal-related questions
Opening of the polls & proposal-related questions Opening of the polls/voting — Stockholders as of March 20, 2023, or their duly authorized proxies can vote electronically on virtual site until the polls are closed — If you have already voted, you do not need to vote today unless you would like to c
Slide 14: Questions & answers related to the proposals
Questions & answers related to the proposals Melina E. Higgins Thomas J. McInerney Moderator Director and Non-Executive President & Chief Executive Amy Rein Chair of the Board Officer VP, Head of Communications Rules of Conduct for the Annual Meeting are available on the virtual meeting site 14
Slide 15: Closing of the polls, voting results & adjournment
Closing of the polls, voting results & adjournment • Closing of the polls • — Votes or proxies, or any changes or revocations, submitted after the closing of the polls will not be accepted • Preliminary results of voting • Adjournment of the formal portion of the 2023 Annual Meeting of Stockholders
Slide 16: General questions & answers
General questions & answers Melina E. Higgins Thomas J. McInerney Moderator Director and Non-Executive President & Chief Executive Amy Rein Chair of the Board Officer VP, Head of Communications Rules of Conduct for the Annual Meeting are available on the virtual meeting site Following the meeting, a
Slide 17: 2023 Annual Meeting of Stockholders
2023 Annual Meeting of Stockholders May 2023 17
Slide 18: Appendix
Appendix ae GenworthZ,¢.
Slide 19: Use of non-GAAP measures
Use of non-GAAP measures This presentation includes the non-GAAP financial measures entitled "adjusted operating income (loss)" and "adjusted operating income (loss) per share." Adjusted operating income (loss) per share is derived from • adjusted operating income (loss). The chief operating decisio
Slide 20: Reconciliation of net income to adjusted operating income
Reconciliation of net income to adjusted operating income ($Million) 20233 20224 1Q Full Year NET INCOME AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS $ 62 $ 609 Add: net income from continuing operations attributable to noncontrolling interests 32 130 Add: net income from discontinued
Slide 21: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This presentation contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” • “plans