#1Enact | Investor Presentation Investor Presentation September 2021 Enact™#2Enact | Investor Presentation Disclaimer Enact Holdings, Inc. ("Enact" or the "Company") (formerly known as Genworth Mortgage Holdings, Inc.), has filed a registration statement (File No. 333-255345), including a preliminary prospectus, with the U.S. Securities and Exchange Commission (the "SEC") in connection with the offering to which this presentation relates. Securities of the Company may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any securities of the Company in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering will be made only by means of a prospectus. This presentation is not intended to form the basis of any investment decision by the recipient and does not constitute investment, tax or legal advice. Before you invest, you should read the registration statement, including the preliminary prospectus, and other documents that the Company has filed with the SEC for more complete information about the Company and this offering. You can obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus related to the offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by email at [email protected], or by telephone at (866)-471-2526; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204. Special notice regarding forward-looking statements This presentation contains forward-looking statements that involve substantial risks and uncertainties. These risks and uncertainties include the impact, scope and duration of the COVID-19 pandemic and responsive actions taken by governmental authorities. All statements, other than statements of historical facts, contained in this presentation, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target." "potential," "will," "would," "likely," "could," "should," "continue, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. The forward-looking statements involve significant risks and uncertainties, not all of which will be explored in this presentation or elsewhere and should not be read as guarantees of future performance or results. Factors that could cause actual results to differ and that may affect Genworth's and/or Enact's results of operation and financial position appear in the section titled "Risk Factors" in our registration statement and in Genworth's other filings with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this presentation are made only as of the date of this presentation, and we do not assume any obligation to update or revise any forward-looking statements. Non-GAAP Financial Measures This presentation uses non-GAAP financial measures, such as adjusted operating income, to supplement financial information presented in accordance with GAAP. There are limitations to the use of the non-GAAP financial measures presented in this presentation. For example, the non-GAAP financial measures may not be comparable to similarly titled measures of other companies. Other companies may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors and potential investors to use in evaluating ongoing operating results and trends of the Company. These non-GAAP measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. Reconciliations in connection with these non-GAAP measures may be found in the appendix of this presentation. 2 Enact#3Enact | Investor Presentation Offering Summary Issuer Exchange / Ticker Base Offering Size Overallotment Option Filing Range Lock-Up Concurrent Private Placement Use Of Proceeds Selling Stockholder Lead Bookrunners Joint Bookrunners Co-Managers Expected Pricing Enact Holdings, Inc. NASDAQ: ACT 13,310,400 shares or -$260mm at the midpoint of filing range 1,996,560 shares (15% of base deal size) $19.00-$20.00 per share 180 days for the Company, its executive officers and directors and Parent (Genworth Financial, Inc.) Funds affiliated with Bayview Asset Management have agreed to purchase 14,655,600 shares from the Selling Stockholder at the net IPO price. Bayview will also be subject to a 180 day lock-up. The selling stockholder will receive all of the net proceeds from this offering (100% secondary) Genworth Financial, Inc. ("Parent"), through holdings in Genworth Holdings, Inc. ("GHI") Goldman Sachs, J.P. Morgan BofA Securities, Credit Suisse Citigroup, Deutsche Bank, Keefe, Bruyette & Woods, BTIG, Dowling Expected Wednesday, September 15th Enact#4Enact | Investor Presentation Today's Presenters Rohit Gupta, President, Chief Executive Officer and Director, Enact Prior to assuming his current position in March 2013, Rohit served as Chief Commercial Officer and SVP of Products, Intelligence and Strategy of Genworth Mortgage Insurance Corporation ("GMICO"); and previously spent time at FedEx in Strategic Marketing. He has more than 20 years of experience in the financial services industry . MBA in Finance from University of Illinois at Urbana Champaign; BS in Computer Science and Technology from Indian Institute of Technology Dean Mitchell, Executive Vice President, Chief Financial Officer and Treasurer, Enact Dean joined Enact in June 2004 as a member of the global Capital Management group after spending time as Treasurer of Reichhold, Inc., a global chemical manufacturer. He assumed his current position in March 2013 after serving on an acting basis since August 2011 MBA from University of North Carolina at Wilmington; BS in Business from Wake Forest University Enact™#5Enact | Investor Presentation Enact Overview Business Overview . • Leading private mortgage insurance company founded in 1981 5 Platform based on long-tenured customer relationships with mortgage lenders, underwriting and pricing excellence and prudent risk and capital management practices Successful transition from a "Buy and Hold" strategy to an "Acquire, Manage and Distribute" approach Strong balance sheet and well capitalized to manage through macroeconomic uncertainty Objective to leverage our competitive strengths to maximize value for our stockholders by driving profitable growth of new business, maintaining our strong capital levels and delivering attractive risk adjusted returns Key Financial Metrics¹ $217bn Primary Insurance In-Force ("IIF") as of June 30, 2021 $105bn LTM New Insurance Written ("NIW") $4,090mm Equity as of June 30, 2021 As of June 30, 2021 unless otherwise noted; Represents compound annual growth rate of primary IIF from $157bn at YE2018 to $217bn at 2021; Represents average of 2018, 2019, and 2020 periods; ROE calculated as adjusted operating income divided by the average of current annual fiscal period and prior annual fiscal period ending stockholders' equity. 14% Primary IIF CAGR² $491mm LTM Adjusted Operating Income 14% Average ROE Since 20183 Enact#6Enact | Investor Presentation Financial Snapshot NIW & Primary IIF¹ ($B) IIF CAGR 2016-2020: 12.6% NIW CAGR 2016-2020: 23.6% $129 NIW IIF $143 $157 $182 $62 $208 $100 $217 $105 Adjusted Operating Income ($M)¹1 $484 $562 $373² $491 17% Stockholders' Equity ($M) ROEⓇ $3,274 16% $3,827 10% $4,3195 $437 $3,882 $43 $39 $40 YE2018 YE2020 LTM 20/21 YE2018 YE2019 YE2016 YE2017 YE2018 YE2019 YE2020 20/21 YE2019 Represents amortized IIF: Includes $18mm of pre-tax interest expense related to Aug-2020 $750mm senior debt issuance: Includes fair value of investment in Genworth MI Canada Inc. and $50mm dividend paid: Includes impact of $250mm dividend paid as well as sale of ownership stake in Genworth Canada. Following sale transaction, $0.5bn of proceeds from Enact ownership stake were retained by Enact and reported in Enact equity going forward PF equity ex. dividend paid, "Dividend paid from proceeds of $750mm senior notes due 2025, Represents compound annual growth rate of IF from $129bn in 2016 to $208bn in 2020, Represents compound annual growth rate of NIW from $43bn in 2016 to $100bn in 2020, ROE for 2018-2020 calculated as adjusted operating income divided by the average of current annual fiscal period and prior annual fiscal period ending stockholders equity. ROE for 20'21 calculated as adjusted operating income for 1H21 annualized divided by the average of current quarter fiscal period and prior year's quarter fiscal period ending total stockholders' equity, NW presented an LTM basis Adjusted operating income is non-GAAP measure. Please see page 35 for a reconciliation YE2020 13% Dividend $4,090 20/21 Enact#7Enact | Investor Presentation IPO creates catalyst for Enact to capitalize on current market opportunity The IPO of Enact and related separation framework creates a path for independent growth, and provides a boost to the business at a time of significant market opportunity IPO Up to 18.4% held by the public Independent chairperson 100% independent capital committee with veto rights over significant capital actions 8/11 independent directors at IPO China Oceanwide Transaction Terminated Governance Removes customer concerns around transaction • Reduced CFIUS costs Improved Ratings Profile . Anticipate 1-2 notch uplift in ratings, contingent on successful completion of IPO . Strong standalone capital structure • Independent access to capital Rebranding & Operational Separation • Standalone company brand, name, and logo • Executed Shared Services Agreement to allow transition to standalone model, as appropriate Enact#8Enact | Investor Presentation Marries advantages of 40+ years of operations with a dynamic platform positioned for growth 1 Deep and cohesive customer relationships 2 Cycle-tested risk and capital management capabilities Resolution of headwinds well-timed with supportive macroeconomic and housing market backdrop 3 Catalyst to unlock full potential with IPO Enact#9Enact | Investor Presentation Well-established, diversified customer relationships driven by our differentiated value proposition - Long-tenured relationships with a large and diverse customer base Executive management with an average of 27 years of relevant industry experience and 14 years in mortgage insurance We offer competitive pricing with best-in-class underwriting and differentiated customer offerings H Best-in-class underwriting platform with continuous innovation to drive a superior customer experience and improved efficiency Focus on customer ease-of-use through integrated online tools and award-winning ordering and rate quote website Support customer growth objectives with a suite of borrower-centric product offerings 19 out of Top 20 # of top 20 originators who are Enact customers² 16% $43 ~1,800 Active customers¹ YE2016 $39 New Insurance Written ($B) 14% YE2017 16% CAGR 2016-2020: 23.6%³ $40 92% Percentage of NIW in 2020 from customers who have submitted loans to us every year since 2016 YE2018 17% Market share for twelve months ended 12/31/2020 ¹ Defined as customers who we wrote business within FY2020; According to Inside Mortgage Finance; ³ Represents the CAGR in New Insurance Written from 2016-2020. $62 YE2019 Enact Market Share 17% 17% $100 YE2020 $52 1H'21 Enact™#10Enact | Investor Presentation Large and growing portfolio of insurance in-force Primary Insurance In-Force (SB)¹: 10 $129 Persistency Rate (%)²: 76% Premium ($M): YE2016 $660 CAGR 2016-2020: 12.6% $143 YE2017 81% $157 $695 YE2018 82% $182 $747 YE2019 CAGR 2016-2020: 10.1% 76% $857 $208 YE2020 1H'21 59% $217 $971 59%5 $997 . Significant portfolio of insurance in force saw meaningful growth with 12.6% ³ CAGR 2016-2020 Growth in primary IIF has resulted in premiums growing by 10.1% 4 2016-2020 Portfolio has significant embedded value and creates a strong foundation for future premiums YE2016 YE2017 YE2018 YE2019 YE2020 LTM 2Q¹21 Note: Premium represents U.S. Mortgage Insurance Segment of Parent for 2016-2017 and Enact for 2018-2020: Represents amortized IIF: Calculated based on amortized IIF: Represents compound annual growth rate of primary IIF from $129bn in 2016 to $208bn in 2020; Represents compound annual growth rate of premium from $660mm in 2016 to $971mm in 2020: Represents period ended June 30, 2021 Enact#11Enact | Investor Presentation In-Force and Premium Growth Compares Favorably vs. Peers Higher IIF & Net Premium Growth vs. Legacy Peers IIF Growth (2Q'19-2Q'21)¹ Legacy Players 11 0% Radian P/BV³ 1% NA Radian Net Premium Growth (LTM 20′19-LTM 20′21)² MGIC 11% NA MGIC Arch Enact 1.07 x 12% Essent 1.07 x 15% Post-Crisis Players Essent 13% Enact 1.31 x NMI 19% NMI 1.35 x # Strong growth in IIF translating to similarly strong premium growth Historical growth trajectory benchmarks closer to Essent and NMI rather than legacy players (MGIC, RDN, Arch) Enact's historical IIF and premium performance coupled with a platform that is well-positioned for future growth differentiates us from our legacy peers Arch Enact Radian Essent NMI Source: Peer metrics from public company filings; "Represents compound annual growth rate of IIF from 2019 to 20/21; Represents compound annual growth rate of net premium earned from LTM 2019 to LTM 20/21. Market data as of 31-Aug-2021. Enact™#12Enact | Investor Presentation Comprehensive Risk Management Philosophy Approach to Housing Risk Management Manage Three-Pronged Acquire • Thorough underwriting and automated eligibility controls on incoming loans • Advanced analytics differentiates risk within granular proprietary pricing model • Adequately priced risk to achieve targeted returns 12 Optimize value creation within risk appetite • Multi-year planning identifies risks to strategic plan • Comprehensive stress testing informs risk appetite, credit policy, and CRT strategy . Continuous portfolio monitoring and auditing of underwriting processes and controls Identify, assess, and mitigate risks to plan Distribute . Traditional reinsurance with highly rated counterparties reduces warehousing risk . Collateralized MILN transactions on closed blocks at attractive cost of capital • Optimize cost of capital, counterparty diversification and forward capacity across CRT channels Manage volatility and protect balance sheet Enact#13Enact | Investor Presentation Strong underlying credit quality of insurance portfolio 13 20 2021³ RIF ■ FICO Score at Origination¹ 680-739 37% 620-679 <620 1% 740+ 54% Strong portfolio credit scores represented by 680+ FICO scores for over 90% of borrowers LTV at Origination¹ 95.01% & Above 17% 90.01% - 95.00% 50% 80.01% - 90.00% Insured loans have experienced significant home price appreciation 94% of delinquent policies have at least 10% equity and 60% have at least 20% equity based on current MTM LTV4 # of High-Risk Layers² LTV > 95% FICO < 680 LTV > 95% 1 # of High-Risk Layers² 0 1 FICO < 680 3+ Total 3+ Total % RIF 2Q'21³ 0.7% 0.9% 0.2% 0.0% 1.8% % NIW 2Q'21³ 0.1% 0.0% 0.0% 0.3% In higher risk loans (>95% LTV, <680 FICO), the in-force book has minimal "high-risk layers" High quality portfolio mix shaped by granular risk-based pricing Metrics derived from underlying characteristics at the time the loan was originated. Borrowers without a FICO score included in the 660-679 category: High-risk layers defined as loans that have a single borrower, debt-to-Income> 45%, cash-out refinances or investor-owned properties; As of June 30, 2021; * MTM LTV's are estimated based on amortization and house price appreciation at the MSA level. Enact™ House price appreciation is based on the FHFA All-Transactions House Price Index. Data is as of 6/30/21, based on home price appreciation through 3/31/21.#14Enact | Investor Presentation Demonstrated attractive financial performance relative to risk profile Strong Gross Premium Yield (2Q'21)¹ 0.49% Enact 0.46% ESNT 0.46% RDN 0.46% MGIC 0.41% NMI 1.9% NMI Favorable Delinquency Performance (2Q'21) Better performance vs. legacy peers 2.6% Enact Recent vintages in line with new entrants 2.9% Enact (2013+) 3.0% 3.1% ESNT ACGL 3.6% Source: Peer metrics from public company filings; Note: Gross Premium Yield for 20'21; Delinquency figures as of 20'21; Gross Premium Yield eamed premium excluding GSE CRT and prior to reinsurance ceded during the quarter / average IIF. Arch has not been included due to a lack of sufficient data for the calculation, Enact delinquency rate isolated to 2015 and later books with 3 payments missed for loans originated through February 28, 2020 and 2 payments missed for loans originated beginning March 1, 2020 to align with 14 NMI and master policy changes on delinquency reporting: Enact delinquency rate isolated to 2013 and later books for comparison to Essent Enact (All) 3.7% MTG Robust Risk-Based Pricing Framework Drives Attractive Returns 4.0% RDN Enact#15Enact | Investor Presentation Strong capitalization driven by prudently-managed balance sheet PMIERS Capitalization and Operating Leverage PMIERS Excess Capital³ (SM) PMIERS Sufficiency Ratio 2 Operating Leverage $786 15 16% 129% YE2018 Debt To Capital Ratio $1,057 24% 138% YE2019 Stockholders' Equity ($M) $1,229 137% GAAP Capital Position YE2020 0% $1,941 YE2018 YE2019 YE2020 0% $3,274 $3,827 $3,882 165% 20′21 32% 16% 2Q'21 $4,090 15% Strong Liquidity Profile And Capital Position³ $4,090mm Equity at Enact $284mm HoldCo cash at Enact Successful Credit Risk Transfer program 15.0% 4 debt to capital ratio Comprehensive CRT Program Bolsters PMIERS Sufficiency And Protects Balance Sheet # ■ As of 6/30/21, $3.5bn CRT transactions since 2015 including $2.0 bn of traditional XOL reinsurance and $1.5bn MILNs Provides $1.4bn PMIERS credit and $1.6bn loss coverage at 6/30/21 Robust Regulatory Capital 165%¹ PMIERS sufficiency ratio with $1,941mm³ PMIERS excess as of 6/30/21, exclusive of positive impact from September 2, 2021 MILN transaction . . # 12.0:17 risk-to-capital ratio at 6/30/21 NCDOI approval to dividend $200MM at Q4 increases confidence in 2021 return of capital ¹ Calculated as total available assets divided by net required assets, based on published PMIERS: 2 Operating leverage calculated by dividing PMIERS reinsurance credit by PMIERS gross required assets; ³PMIERS excess calculated as total available assets less net required assets, relative to 100% published PMIERS requirement, *Calculated by dividing total debt outstanding by total equity plus total debi outstanding: Financial metrics as of June 30, 2021; Pro-forma for the September 2021 transaction, PMIERS sufficiency ratio and PMIERS excess would be 189% and $2.3bn Represents Enact™ risk-to-capital ratio at GMICO#16Enact | Investor Presentation Dynamic leadership team with through-the-cycle experience and a proven track record of delivering results 16 Rohit Gupta President Chief Executive Officer 23 years MI: 17 years Dean Mitchell Executive Vice President Chief Financial Officer Anthony Guarino Sr. Vice President Pricing & Credit Policy 30 years MI: 21 years 27 years MI: 16 years Duane Duncan Sr. Vice President Government & Industry Affairs 31 years MI: 11 years Michael Derstine Executive Vice President Chief Risk Officer 29 years MI: 19 years Evan Stolove Executive Vice President General Counsel 28 years MI: 5 years 19 Susan Sullivan Sr. Vice President Human Resources 29 years MI:12 years Matt Young Sr. Vice President Sales George Reichert Sr. Vice President Information Technology 35 years MI: 8 years Brian Gould Executive Vice President Operations 27 years MI: 22 years 31 years MI: 12 years Management team members held meaningful roles during the global financial crisis, gaining critical experience Kevin McMahon Sr. Vice President Customer Solutions 26 years MI: 18 years Enact#17Enact | Investor Presentation Strong outlook for U.S. housing market Macro conditions are favorable for mortgage origination... Yield Index Value 5.50% 5.00% 4.50% 4.00% 3.50% 3.00% 2.50% 2.00% 450 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 Jun-20 Jun-21 350 250 Record Low Rates¹ 30-yr Average Fixed Mortgage Rate. Not Seasonally Adjusted 150 Robust Demand for Homeownership³ -2014 Mortgage Applications -2019 2.78% 2020 -2021 YOY Change (%) 50 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 Calendar Week Volume (SB) House Price Index, Seasonally Adjusted (left) 20% Housing Affordability Index (night) 15% Jul-20 ...with home purchases which drive the MI market size increasing momentum in recent years 10% 5% 0% Jan-20 18% Housing Prices are Robust² 17% $1,735 Apr-20 21% 17% Growing Purchase Origination & PMI Purchase Penetration4 $2.065 21% Oct-20 15% $1,810 24% 14% $1,630 Jan-21 YE '17 YE '18 PMI purchase penetration 25% 13% $2.325 YE '15 YE '16 Purchase Refinance Note: Dollar figure is total market volume 17 Federal Reserve Bank of St. Louis as of 7/22/2021; FHFA House Price Index (April 2021); National Association of Realtors (May 2021): Mortgage Bankers Association: Inside Mortgage Finance. 15.7% YE'19 157.3 Apr-21 27% 13% $4,100 220 200 180 160 140 120 YE '20 —FHA purchase penetration Affordability Index (%) PMI purchase penetration Enact#18Enact | Investor Presentation Demographics Expected to Remain Favorable for FTHBs Homebuyers (M) . FTHB Market¹ Stronger than Historical Average Seasonally Adjusted Annual Rate 3.0 **Hatorical Average (1994-2000) 422W 95959 2.5 2.0 1.8M 1.5 1.0 0.5 0.0 35% 2016 2017 2018 FTHB 2019 Porcent of Home Sales 2020 1H 2021" FTHB market has out-performed during the 2016-2020 period. Despite a tight housing market, FTHB market remained robust during 1H 2021 42% 40% 38% 36% 34% 32% FTHBS use high LTV products to purchase homes more than 80% of the time Population (M) More Favorable Demographics over the Next 5 Years 5.0 4.8 4.6 4.4 4.2 People at 33 Years of Age 2016-2020 2021 2022 2023 2024 2025 Strong demographics have supported the FTHB market in the past 5 years as Millennials aged into the peak homebuying age On average, 4.4 million people reached the median FTHB age of 33 each year between 2016 and 2020 18 'Enact estimate: Population estimate for people aged 33 years: Census Bureau (2021): Median age for FTHBS was 33 years of age in 2020: National Association of Realtors (November 2020) An extra 1.5M people are expected to reach the peak homebuying age over the next 5 years, which will grow the FTHB market Enact#19Enact | Investor Presentation Attractive opportunity in a favorable market Resolution of headwinds to reclaim lost share and break into new accounts # ■ · # 19 Strong Industry NIW¹ Growth ($B) Defend long standing customer relationships with best-in-class underwriting platform and customer service Large in-force portfolio generates significant and sustainable future value Comprehensive risk management framework leads to strong underlying credit quality and a prudently managed balance sheet Enact Market Share 3 14% $291 Industry NIW CAGR (18-20): 43%4 $384 17% $600 YE2018 YE2019 YE2020 Source: Peer metrics from public company filings; "Represents the sum of NIW of Arch, Radian, MGIC, Enact, Essent, and NMI; Represents compound annual growth rate of IIF from 20'19 to 2021; Represents compound annual growth rate of net premium earned from LTM 20/19 to LTM 20/21; Represents compound annual growth rate of industry NIW from $291bn in 2018 to $600bn in 2020 Enact™#2001 Financial Highlights 30 Enact OC#21Enact | Investor Presentation Perspectives on Historical Financial Performance Growth has primarily come from favorable housing market conditions and recent increase in market share • 13.7mm first time homebuyers from 2014 to 2020 accounted for most of the growth in home sales Low interest rate environment offset rising home prices helped the overall mortgage market Market share has grown from 12% in 2012 to 17% in 2Q'21 21 Market Share / Growth Profitability Capitalization Adjusted operating income showed rapid growth in previous years due to: Premium growth driven by strong market conditions Favorable loss trends driven by prudent underwriting and improved overall credit quality Expense efficiencies as the company benefited from economies of scale COVID caused a drop in adjusted operating income and ROE in 2020 due to increased losses during the period Capital position displayed continued strength from strong earnings growth while being able to distribute capital to Genworth Financial CRT utilization helped optimize cost of capital, providing additional PMIERS capital benefit MILN issuances each year since 2019 provide alternative CRT execution Inaugural Senior Debt offering in 2020 enhances capital efficiency Enact#22Enact | Investor Presentation Summary Historical Financials ($ in millions, unless noted otherwise) ROE: $129 2016 $484 2018 17% $3,274 $143 2017 Primary IIF ($B)¹ CAGR (16-20): 12.6% $157 2018 2019 $182 Adjusted Operating Income $562 16% 2019 $3,827 $373 Stockholders' Equity 10% 2020 $208 $3,882 2020 $217 20¹21 $491 LTM 2021 13% $4,090 20′21 5% $43 Combined 31% Ratio: 26% Dividends*: 2016 2018 $50 129% $39 2017 6% NIW ($B) CAGR ('16-'20): 23.6% 2018 30% 25% $40 2019 Loss / Expense Ratio 63% 24% $62 138% 2019 39% 2020 PMIERS Sufficiency³ $250 $437 137% $100 2020 2018 2019 2020 2018 2019 2020 22 Represents amortized IIF; 2 Non-Recurring Expenses include $7mm of strategic transaction preparation costs and a one-time restructuring charge of $2mm; total expense ratio including these items was 26%; Calculated as total available assets divided by net required assets, based on the published PMIERS then in effect; 2020 dividend of $437mm represents the net proceeds distributed from Enact to Genworth Holdings following Enact's debt issuance in August of 2020. No dividends were taken from GMICO during 2020. Dividends from prior years are from Enact fully funded by GMICO. 2% LTM 2Q¹21 43% $105 24% 17% 1H'21 Non-Recurring Expenses? SO 165% 20/21 Enact#23Enact | Investor Presentation Our Core Financial Objectives 23 Growth Profitability Capitalization Target growth where our returns exceed our cost of capital Take advantage of favorable housing market conditions and strong origination volumes Capitalize on continued tailwinds following the IPO Maintain strong underwriting quality Continue to enhance operational efficiencies by continuing to invest in selected technologies Protect against outsized losses during periods of economic stress Continue to remain well-capitalized; maintain a strong buffer to PMIERs requirements while supporting future NIW growth Grow CRT utilization and operating leverage / optimize our cost of capital and risk profile Retain a conservatively leveraged balance sheet aligned with investment grade ratings - maintain capacity for future financial leverage, if needed Maximize shareholder value; prioritize use of capital to pursue growth opportunities that achieve our target return thresholds; and return excess capital to our shareholders when such growth opportunities are not available Subject to market conditions, we intend to issue a $200mm dividend in 4Q'21, and anticipate seeking regulatory and board approval for the initiation of a common dividend in 2022 Enact#24Enact | Investor Presentation Marries advantages of 40+ years of operations with a dynamic platform positioned for growth 24 1 Deep and cohesive customer relationships 2 Cycle-tested risk and capital management capabilities Resolution of headwinds well-timed with supportive macroeconomic and housing market backdrop 3 Catalyst to unlock full potential with IPO Enact