Document:

EX-10.1

 Exhibit 10.1 
  

 
  
 Agreement

  
  
 Project Rome 
  
  

 
  

Master Agreement 
  

 
  

Genworth Financial, Inc. 

Genworth Mortgage Insurance Australia Limited 

 

 
  

  
 Contents

  

									
		 		 	 Table of contents
  
	  			
		 		 	  
	 
		 		 	  
 Operative part
	  	 	2	  
				
		 	1	 	Definitions and interpretation	  	 	2	  
				
		 		 	 1.1     Definitions
	  	 	2	  
		 		 	 1.2     Interpretation
	  	 	8	  
				
		 	2	 	Expenses	  	 	9	  
				
		 		 	 2.1     Expenses of the Initial Public Offering
	  	 	9	  
				
		 	3	 	Closing	  	 	10	  
				
		 		 	 3.1     Pre-Closing transactions
	  	 	10	  
		 		 	 3.2     Time and place of closing
	  	 	10	  
		 		 	 3.3     Closing transactions
	  	 	10	  
				
		 	4	 	Confidentiality	  	 	10	  
				
		 		 	 4.1     Confidential information
	  	 	10	  
				
		 	5	 	Release; indemnification	  	 	13	  
				
		 		 	 5.1     Release of pre-closing claims
	  	 	13	  
		 		 	 5.2     General indemnification by Genworth Australia
	  	 	15	  
		 		 	 5.3     General indemnification by Genworth Financial
	  	 	15	  
		 		 	 5.4     Contribution
	  	 	16	  
		 		 	 5.5     Indemnification obligations net of insurance proceeds and other amounts, on an After-Tax
Basis
	  	 	17	  
		 		 	 5.6     Procedures for indemnification of Third Party Claims
	  	 	17	  
		 		 	 5.7     Additional matters
	  	 	18	  
		 		 	 5.8     Remedies cumulative; limitations of liability
	  	 	19	  
		 		 	 5.9     Litigation and settlement cooperation
	  	 	20	  
				
		 	6	 	Dispute resolution	  	 	20	  
				
		 		 	 6.1     Dispute resolution
	  	 	20	  
		 		 	 6.2     General provisions
	  	 	20	  
		 		 	 6.3     Arbitration
	  	 	21	  
				
		 	7	 	General provisions	  	 	22	  
				
		 		 	 7.1     Representations and warranties; fiduciary duties
	  	 	22	  
		 		 	 7.2     Further assurances
	  	 	22	  
		 		 	 7.3     Survival of covenants
	  	 	23	  
		 		 	 7.4     Governing law
	  	 	23	  
		 		 	 7.5     Force majeure
	  	 	23	  
		 		 	 7.6     Notices
	  	 	24	  
		 		 	 7.7     Taxes
	  	 	24	  
		 		 	 7.8     Regulatory approval and compliance
	  	 	25	  
		 		 	 7.9     Severability
	  	 	26	  
		 		 	 7.10   Entire agreement
	  	 	26	  
		 		 	 7.11   Assignment; no third-party beneficiaries
	  	 	26	  
		 		 	 7.12   Amendment; waiver
	  	 	27	  
		 		 	 7.13   Counterparts
	  	 	27	  

  
 Master
Agreement            Contents 1 

 

 
  
 Contents

  

									
				
		 		 	Signing page	  	 	31	  

  
 Master
Agreement            Contents 2 

 

 
  

  

							
		 	 Master Agreement
  

		 	  

		 	  
  
 Date u 23 April 2014

		 	  
  
 Between
the parties
  
	 		 	
		 	  

		 		 	  
 Genworth Financial, Inc.

 
 a corporation existing under the laws of the State of Delaware

 
 (Genworth Financial)

 

		 	  

		 		 	  
 Genworth Mortgage Insurance Australia
Limited
  
 ACN 154 890 730

 
 (Genworth Australia)

 

		 	  

		 	  
 Recitals
	 	  
 1
	 	  
 Genworth Australia is undertaking an initial public offering (the Initial
Public Offering) of its ordinary shares pursuant to a prospectus filed with the Australian Securities and Investments Commission (ASIC).

 

		 		 	2	 	 Genworth Financial and Genworth Australia (and, where relevant, their respective Affiliates) have entered into this Agreement and will on or
around the Closing Date enter into the other IPO Agreements (as defined below) to set out certain key provisions relating to the separation of the Genworth Financial Group and the Genworth Australia Group and their continuing arrangements following
the completion of the Initial Public Offering (the Closing).
  

		 	  

		
		 	 in consideration of the foregoing and the mutual agreements contained herein and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows:
  

		 	  

  
 Master
Agreement            page 1 

 

 
  

 Operative part 

 
  

					
	 1
  
	  	 Definitions and interpretation

 

	  

	  
 1.1
	  	  
 Definitions

 
	  	
		  	 The meanings of the terms used in this Agreement are set out below.

 
  

	 	  	 Term
  
	  	 Meaning
  

		  	  

		  	  
 Action
	  	  
 any demand, action, claim, dispute, suit, countersuit, arbitration,
inquiry, proceeding or investigation by or before any Governmental Authority.
  

		  	  

		  	  
 Affiliate
	  	  
 (and, with a correlative meaning, ‘affiliated’), with respect
to any Person, any direct or indirect subsidiary of such Person, and any other Person that directly, or through one or more intermediaries, controls or is controlled by or is under common control with such first Person; provided, however, that, for
the sole purpose of defining the benefits and obligations of the parties pursuant to this Agreement and the other IPO Agreements, and without affecting or intending to affect in any way the definition or characterisation, for any purpose, of the
parties’ relationship at law or with respect to any third party (including, without limitation, pursuant to any Vendor Agreement), from and after the Closing Date, each of Genworth Australia and its direct and indirect Subsidiaries shall be
deemed not to be an Affiliate of Genworth Financial or any of its direct and indirect Subsidiaries (other than Genworth Australia and its direct and indirect Subsidiaries), and vice versa. As used in this definition, ‘control’ (including
with correlative meanings, ‘controlled by’ and ‘under common control with’) means possession, directly or indirectly, of power to direct or cause the direction of management or policies or the power to appoint and remove a
majority of directors (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise).
  

		  	  

		  	  
 After-Tax Basis

 
	  	 has the meaning given to it in clause 5.5(c).

 

		  	  

  
 Master
Agreement            page 2 

 

 
  

					
	 	  	 Term
  
	  	 Meaning
  

		  	  

		  	  
 Applicable Law
	  	  
 with respect to any Person, property, transaction, event or other matter,
(i) any foreign or domestic constitution, treaty, law, statute, regulation, code, ordinance, principle of common law or equity, rule, municipal by-law, Order or other requirement having the force of law, (ii) any policy, practice, protocol, standard
or guideline of any Governmental Authority which, although not necessarily having the force of law, is regarded by such Governmental Authority as requiring compliance as if it had the force of law (collectively, the Law) relating or
applicable to such Person, property, transaction, event or other matter and also includes, where appropriate, any interpretation of the Law (or any part thereof) by any Person having jurisdiction over it, or charged with its administration or
interpretation.
  

		  	  

		  	  
 ASIC

 
	  	 has the meaning given to it in Recital 1.

 

		  	  

		  	  
 Brookfield

 
	  	 Brookfield Life Assurance Company Limited.

 

		  	  

		  	  
 Business Day
	  	  
 a day on which banks are open for business in Sydney, New South Wales or
New York, NY, other than a Saturday, Sunday or public holiday in those cities. Any event the scheduled occurrence of which would fall on a day that is not a Business Day shall be deferred until the next succeeding Business Day.

 

		  	  

		  	  
 Closing

 
	  	 has the meaning given to it in Recital 2.

 

		  	  

		  	  
 Closing Date

 
	  	 the date on which the Closing takes place.

 

		  	  

		  	  
 Corporations Act

 
	  	  
 the Australian Corporations Act 2001 (Cth), as amended from time
to time
  

		  	  

		  	  
 Cross License
	  	  
 the Intellectual Property Cross License in the form agreed between the
parties, to be entered into on or around the Closing Date by and between Genworth Financial and Genworth Australia.
  

		  	  

		  	  
 Dispute

 
	  	 has the meaning given to it in clause 6.1.

 

		  	  

		  	  
 Excluded Claim

 
	  	 has the meaning given to it in clause 5.1(h)

 

		  	  

		  	  
 First Tribunal

 
	  	 has the meaning given to it in clause 6.3(e)

 

		  	  

  
 Master
Agreement            page 3 

 

 
  

					
	 	  	 Term
  
	  	 Meaning
  

		  	  

		  	  
 Force Majeure
	  	  
 with respect to a party, an impediment beyond the control of such party
(or any Person acting on its behalf), which could not reasonably be expected to have been taken into account by such party (or such Person) at the time of conclusion of the contract.

 

		  	  

		  	  
 Genworth Australia Group

 
	  	  
 Genworth Australia and each of its Affiliates.

		  	  

		  	  
 Genworth Australia Confidential Information

 
	  	  
 has the meaning given to it in clause 4.1(a).

		  	  

		  	  
 Genworth Australia Indemnified Parties

 
	  	  
 has the meaning given to it in clause 5.3.

		  	  

		  	  
 Genworth Financial Confidential Information

 
	  	  
 has the meaning given to it in clause 4.1(b).

		  	  

		  	  
 Genworth Financial Disclosure Portions

 
	  	  
 has the meaning given to it in clause 5.2(d).

		  	  

		  	  
 Genworth Financial Group

 
	  	  
 Genworth Financial and each of its Affiliates.

		  	  

		  	  
 Genworth Financial Indemnified Parties

 
	  	  
 has the meaning given to it in clause 5.2.

		  	  

		  	  
 GF Mortgage Insurance

 
	  	  
 Genworth Financial Mortgage Insurance Pty Limited (ACN 106 974
305).

		  	  

		  	  
 GF New Holdings

 
	  	 Genworth Financial New Holdings Pty Limited (ACN 140 219 101).
  

		  	  

		  	  
 GF Services

 
	  	 Genworth Financial Services Pty Limited (ACN 116 067 424).

 

		  	  

		  	  
 GFAH

 
	  	 Genworth Financial Australia Holdings, LLC.

 

		  	  

		  	  
 GFIH

 
	  	 Genworth Financial International Holdings, Inc.

 

		  	  

  
 Master
Agreement            page 4 

 

 
  

					
	 	  	 Term
  
	  	 Meaning
  

		  	  

		  	  
 GFMI Holdings
	  	  
 Genworth Financial Mortgage Insurance Holdings Pty Limited (ACN 106 972
874).
  

		  	  

		  	  
 Governmental Approvals
	  	  
 any notice, report or other filing to be made with, or any consent,
registration, approval, permit or authorization to be obtained from, any Governmental Authority.
  

		  	  

		  	  
 Governmental Authority
	  	  
 1    any
domestic or foreign government, whether national, federal, provincial, state, territorial, municipal or local (whether administrative, legislative, executive or otherwise);

 
 2    any agency, authority,
ministry, department, regulatory body, court, central bank, bureau, board or other instrumentality having legislative, judicial, taxing, regulatory, prosecutorial or administrative powers or functions of, or pertaining to, government;

 
 3    any court, commission,
individual, arbitrator, arbitration panel or other body having adjudicative, regulatory, judicial, quasi-judicial, administrative or similar functions; and
  

4    any other body or entity created under the authority of or otherwise subject to the jurisdiction
of any of the foregoing, including any stock or other securities exchange or professional association.
  

		  	  

		  	  
 ICC

 
	  	 has the meaning given to it in clause 6.3(a).

 

		  	  

		  	  
 ICC Rules

 
	  	 has the meaning given to it in clause 6.3(a).

 

		  	  

		  	  
 IT Services Agreement
	  	  
 the IT Services Agreement dated 1 January 2013, by and among GFIH, GF
Mortgage Insurance, Genworth Financial Mortgage Indemnity Pty Limited, GF Services, GFMI Holdings, Genworth Financial Mortgage Insurance Finance Pty Limited and GF New Holdings, as varied in accordance with the IT Services Agreement from time to
time.
  

		  	  

		  	  
 Indemnified Party

 
	  	 has the meaning given to it in clause 5.5(a).

 

		  	  

		  	  
 Indemnifying Party

 
	  	 has the meaning given to it in clause 5.5(a).

 

		  	  

		  	  
 Indemnity Payment

 
	  	 has the meaning given to it in clause 5.5(a).

 

		  	  

  
 Master
Agreement            page 5 

 

 
  

					
	 	  	 Term
  
	  	 Meaning
  

		  	  

		  	  
 Insurance Proceeds
	  	  
 those monies: (a) received by an insured from an insurance carrier; (b)
paid by an insurance carrier on behalf of the insured; or (c) received (including by way of set-off) from any third party in the nature of insurance, contribution or indemnification in respect of any Liability; in any such case net of any applicable
premium adjustments (including reserves and retrospectively rated premium adjustments) and net of any costs or expenses incurred in the collection thereof.

 

		  	  

		  	  
 Intellectual Property
	  	  
 all of the following, whether protected, created or arising under the
laws of the United States, Australia or any other foreign jurisdiction: (i) patents, patent applications (along with all patents issuing thereon), statutory invention registrations, divisions, continuations, continuations-in-part, substitute
application of the foregoing and any extensions, reissues, restorations and re-examinations thereof, and all rights therein provided by international treaties or conventions, (ii) copyrights, mask work rights, database rights and design rights,
whether or not registered, published or unpublished, and registrations and applications for registration thereof, and all rights therein whether provided by international treaties or conventions or otherwise, (iii) trademarks, service marks, trade
dress, logos and other identifiers of source, including all goodwill associated therewith and all common law rights, registrations and applications for registration thereof, and all rights therein provided by international treaties or conventions,
and all reissues, extensions and renewals of any of the foregoing, (iv) intellectual property rights arising from or in respect of domain names, domain name registrations and reservations, (v) trade secrets, (vi) intellectual property rights arising
from or in respect of Technology, and (vii) all other applications and registrations related to any of the intellectual property rights set forth in the foregoing clauses (i) – (vi) above.

 

		  	  

		  	  
 Initial Public Offering

 
	  	  
 has the meaning given to it in Recital 1.

 

		  	  

		  	  
 IPO Agreements
	  	  
 this Agreement, the Shared Services Agreement, the IT Services Agreement,
the Cross License, the Shareholder Agreement, and the Trade-Mark License.
  

		  	  

		  	  
 Liabilities
	  	  
 any debt, loss, damage, adverse claim, liability or obligation of any
Person (whether direct or indirect, known or unknown, asserted or unasserted, absolute or contingent, accrued or unaccrued, liquidated or unliquidated, or due or to become due, and whether in contract, tort, strict liability or otherwise), and
including all costs and expenses relating thereto, but not including any Excluded Claim.
  

		  	  

  
 Master
Agreement            page 6 

 

 
  

					
	 	  	 Term
  
	  	 Meaning
  

		  	  

		  	  
 Offer Management Agreement
	  	  
 the agreement of that name entered into on or about the date of this
document between, amongst others, Genworth Australia, Genworth Financial and the joint lead managers to the Initial Public Offering.
  

		  	  

		  	  
 Order
	  	  
 any order, directive, judgment, decree, injunction, decision, ruling,
award or writ of any Governmental Authority.
  

		  	  

		  	  
 Person
	  	  
 any individual, corporation, partnership, firm, joint venture,
association, joint-stock company, trust, unincorporated organization, Governmental Authority or other entity.
  

		  	  

		  	  
 Personal Information
	  	  
 any information about an identifiable individual that is provided to or
obtained by either party.
  

		  	  

		  	  
 Relevant Interest

 
	  	  
 has the meaning given to it in the Corporations Act.

 

		  	  

		  	  
 Representatives
	  	  
 with respect to a party, an Affiliate of that party and its and its
Affiliates’ officers, directors, employees, agents and representatives (including any legal and financial advisors, agents, customers, suppliers, contractors, consultants and other representatives of any Person providing finance).

 

		  	  

		  	  
 Restructure Steps

 
	  	  
 the restructure steps set out in Schedule 2.

 

		  	  

		  	  
 Sales Taxes

 
	  	  
 has the meaning given to it in clause 7.7.

 

		  	  

		  	  
 Services
	  	  
 means the “Services” as defined under the Shared Services
Agreement and “Services” as defined under the IT Services Agreement.
  

		  	  

		  	  
 Shared Services Agreement
	  	  
 the Shared Services Agreement in the form agreed between the parties, to
be entered into on or around the Closing Date among Genworth Financial, Genworth Australia, GF Mortgage Insurance and Genworth Financial Mortgage Indemnity Limited.

 

		  	  

		  	  
 Shareholder Agreement
	  	  
 the Shareholder Agreement in the form agreed between the parties, to be
entered into on or around the Closing Date by and among Genworth Financial, Shareholderco and Genworth Australia.
  

		  	  

  
 Master
Agreement            page 7 

 

 
  

					
	 	  	 Term
  
	  	 Meaning
  

		  	  

		  	  
 Shareholderco or AGP
	  	  
 Genworth Australian General Partnership, to be established under a
partnership deed in accordance with Step 4 of the Restructure Steps, between Brookfield and GFIH, as amended from time to time.
  

		  	  

		  	  
 Subsidiary or subsidiary
	  	  
 with respect to any Person, any corporation, limited liability company,
joint venture or partnership of which such Person (a) beneficially owns, either directly or indirectly, more than 50% of (i) the total combined voting power of all classes of voting securities of such entity, (ii) the total combined equity
interests, or (iii) the capital or profit interests, in the case of a partnership; or (b) otherwise has the power to vote, either directly or indirectly, sufficient securities to elect a majority of the board of directors or similar governing
body.
  

		  	  

		  	  
 Taxes

 
	  	 has the meaning given to it in clause 7.7.

 

		  	  

		  	  
 Technology

 
	  	 has the meaning given to it in the Shared Services Agreement.
  

		  	  

		  	  
 Third Party Claim

 
	  	 has the meaning given to it in clause 5.6(a).

 

		  	  

		  	  
 Trade-Mark License
	  	  
 the Trade-Mark License Agreement in the form agreed between the parties,
to be entered into on or around the Closing Date by and among Genworth Holdings, Inc. and Genworth Australia.
  

		  	  

		  	  
 Trigger Date
	  	  
 the first date on which members of the Genworth Financial Group do not
have a Relevant Interest in aggregate in 50% or more of the outstanding ordinary shares of Genworth Australia.
  

		  	  

		  	  
 Vendor Agreement

 
	  	 has the meaning given to it in the Shared Services Agreement.
  

		  	  

  

	1.2	Interpretation 	 

 In this Agreement: 

 

	 	(a)	Headings and bold type are for convenience only and do not affect the interpretation of this Agreement. 	 

  

	 	(b)	The singular includes the plural and the plural includes the singular. 	 

  

	 	(c)	Words of any gender include all genders. 	 

  

	 	(d)	The word ‘including’ and words of similar import shall mean ‘including, without limitation,’. 	 

  

	 	(e)	Other parts of speech and grammatical forms of a word or phrase defined in this Agreement have a corresponding meaning. 	 

  
 Master
Agreement            page 8 

 

 
  

  

	 	(f)	An expression importing a person includes any company, partnership, joint venture, association, corporation or other body corporate and any Government Authority as well as an
individual. 	 

  

	 	(g)	A reference to a clause, party, schedule, attachment or exhibit is a reference to a clause of, and a party, schedule, attachment or exhibit to, this Agreement. 	 

  

	 	(h)	A reference to any legislation includes all delegated legislation made under it and amendments, consolidations, replacements or
re-enactments of any of them. 	 

  

	 	(i)	A reference to a document includes all amendments or supplements to, or replacements or novations of, that document. 	 

  

	 	(j)	A reference to a party to a document includes that party’s successors and permitted assignees. 	 

  

	 	(k)	No provision of this Agreement will be construed adversely to a party because that party was responsible for the preparation of this Agreement or that provision. 	 

  

	 	(l)	A reference to a body, other than a party to this Agreement (including an institute, association or authority), whether statutory or not: 	 

  

	 	(1)	which ceases to exist; or 	 

  

	 	(2)	whose powers or functions are transferred to another body, 	 

 is a reference to the body which replaces it or which substantially
succeeds to its powers or functions. 
  

	 	(m)	Where, in this Agreement, the rights of Genworth Financial are dependent upon the members of the Genworth Financial Group holding an aggregate Relevant Interest in a particular
percentage of Ordinary Shares (Applicable Threshold): 	 

  

	 	(1)	the aggregate Relevant Interest in the outstanding Ordinary Shares held by the members of the Genworth Financial Group shall only be taken to be less than or not less than (as
the case may be) the Applicable Threshold if that aggregate Relevant Interest is less than or not less than (as the case may be) the Applicable Threshold for a period of at least 90 consecutive days; and 	 

  

	 	(2)	if that aggregate Relevant Interest falls below and remains below the Applicable Threshold for a period of at least 90 consecutive days, then the “first date” on which
members of the Genworth Financial Group are taken to hold an aggregate Relevant Interest that is less than or not less than (as the case may be) the Applicable Threshold shall be the first day after the expiry of that 90 consecutive days period.
	 

  
  

			
	 2

 
	  	 Expenses

 

  

	2.1	Expenses of the Initial Public Offering 	 

 Genworth Financial shall pay all reasonable third party costs and
expenses associated with the transactions contemplated by this Agreement and the other IPO Agreements and the Restructure Steps, and must reimburse Genworth Australia for the amount of: 

 

	 	(a)	third party costs and expenses incurred by Genworth Australia or its Affiliates which are of the kind set out in Schedule 1; and 	 

  
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Agreement            page 9 

 

 
  

  

	 	(b)	other third party costs and expenses incurred by Genworth Australia or its Affiliates as may be mutually agreed in writing between Genworth Financial and Genworth Australia,
	 

 and Genworth Financial and Genworth Australia will use all
commercially reasonable efforts to ensure that any third party vendors invoice Genworth Australia for any such costs and expenses on or before the Closing Date so that such invoices are settled by Genworth Financial by payment to Genworth Australia
or the relevant vendor (as applicable) on, or as soon as reasonably practicable after, the Closing Date. 
  

			
	 3

 
	  	 Closing

 

  

	3.1	Pre-Closing transactions 	 

 Genworth Financial and Genworth Australia shall procure that all
necessary steps are taken to ensure that Steps 1 to 9 of the Restructure Steps are completed on or prior to Closing. 
  

	3.2	Time and place of closing 	 

 Subject to the terms and conditions of this Agreement, all
transactions contemplated by this Agreement shall be consummated at the Closing to be held at the Sydney offices of Ashurst Australia, on the Closing Date. 
  

	3.3	Closing transactions 	 

  

	 	(a)	At the Closing, Genworth Financial and Genworth Australia shall enter into, and, as necessary, shall cause their respective Affiliates to enter into, the IPO Agreements.
	 

  

	 	(b)	At or immediately following the Closing, Genworth Australia must: 	 

  

	 	(1)	use the proceeds of the Initial Public Offering (after paying the Joint Lead Managers fees payable to them in accordance with the Offer Management Agreement) to make an
additional capital contribution to GFAH and, if applicable to repay its inter-company note obligations under Note 6 to Shareholderco in each case in accordance with Step 11 of the Restructure Steps; and 	 

  

	 	(2)	procure that GFAH makes the appropriate entries in its registers and records to reflect the increased capital contribution by Genworth Australia under clause 3.3(b)(1) and uses
the capital contribution to repay its inter-company note obligations under Note 5 to Shareholderco, in accordance with Step 11 of the Restructure Steps. 	 

  
  

			
	 4

 
	  	 Confidentiality

 

  

	4.1	Confidential information 	 

  

	 	(a)	From and after the Closing, subject to clause 4.1(c) and except as contemplated by this Agreement or any other IPO Agreement, Genworth Financial shall not, and shall cause its
Representatives not to: 	 

  
 Master
Agreement            page 10 

 

 
  

  

	 	(1)	directly or indirectly disclose, reveal, divulge or communicate any Genworth Australia Confidential Information to any Person other than Representatives who reasonably need to
know such information for the purpose (in this clause 4.1(a) only, the Purpose) of providing services to the Genworth Australia Group or otherwise discharging Genworth Financial’s obligations or exercising its rights under the IPO
Agreements; or 	 

  

	 	(2)	use or otherwise exploit for its own benefit or for the benefit of any third party or for any purpose other than the Purpose, any Genworth Australia Confidential Information.
Genworth Financial shall use the same degree of care to prevent and restrain the unauthorized use or disclosure of the Genworth Australia Confidential Information by any of its Representatives as it currently uses for its own confidential
information of a like nature, but in no event less than a reasonable standard of care. 	 

 For purposes of this clause 4.1, any information, material or
documents relating to Genworth Australia’s business as it is currently or formerly conducted, or proposed to be conducted, by the Genworth Australia Group furnished to or in possession of the Genworth Financial Group, irrespective of the form
of communication, and all notes, analyses, compilations, forecasts, data, translations, studies, memoranda or other documents prepared by Genworth Financial or its Representatives, that contain or otherwise reflect such information, material or
documents, including without limitation Personal Information, is hereinafter referred to as “Genworth Australia Confidential Information”. Genworth Australia Confidential Information does not include, and there shall be no
obligation hereunder with respect to, information that: 
  

	 	(3)	is or becomes generally available to the public, other than as a result of a disclosure by Genworth Financial or a Representative not otherwise permissible hereunder;
	 

  

	 	(4)	Genworth Financial can demonstrate was or became available to the Genworth Financial Group from a source other than the Genworth Australia Group, provided that the source of such
information was not known by Genworth Financial to be bound by a confidentiality agreement with, or other contractual, legal or fiduciary obligation of confidentiality to, the Genworth Australia Group with respect to such information; or
	 

  

	 	(5)	is developed independently by the Genworth Financial Group without reference to the Genworth Australia Confidential Information. 	 

  

	 	(b)	From and after the Closing, subject to clause 4.1(c) and except as contemplated by this Agreement or any other IPO Agreement, Genworth Australia shall not, and shall cause its
Representatives, not to: 	 

  

	 	(1)	directly or indirectly disclose, reveal, divulge or communicate Genworth Financial Confidential Information to any Person other than Representatives who reasonably need to know
such information for the purpose (in this clause 4.1(b) only, the Purpose) of providing services to the Genworth Financial Group or otherwise discharging Genworth Australia’s obligations or exercising its rights under the IPO Agreements;
or 	 

  

	 	(2)	 use or otherwise exploit for its own benefit or for the benefit of any third party or for any purpose other than the Purpose, any Genworth Financial Confidential
Information. Genworth Australia shall use the same degree of care to prevent and restrain the unauthorized use or 
	 

  
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Agreement            page 11 

 

 
  
  

	 	
disclosure of the Genworth Financial Confidential Information by any of its Representatives as it currently uses for its own confidential information of a like nature, but in no event less than a
reasonable standard of care. 	 

 For purposes of this clause 4.1, any information, material or
documents relating to the businesses currently or formerly conducted, or proposed to be conducted, by the Genworth Financial Group (for greater certainty, not including Genworth Australia and its Affiliates) furnished to or in possession of Genworth
Australia, irrespective of the form of communication, and all notes, analyses, compilations, forecasts, data, translations, studies, memoranda or other documents prepared by Genworth Australia or its Representatives, that contain or otherwise
reflect such information, material or documents, including without limitation Personal Information, is hereinafter referred to as “Genworth Financial Confidential Information”. Genworth Financial Confidential Information does not
include, and there shall be no obligation hereunder with respect to, information that: 
  

	 	(3)	is or becomes generally available to the public, other than as a result of a disclosure by Genworth Australia or a Representative not otherwise permissible hereunder;
	 

  

	 	(4)	Genworth Australia can demonstrate was or became available to the Genworth Australia Group from a source other than the Genworth Financial Group, provided that the source of such
information was not known by Genworth Australia to be bound by a confidentiality agreement with, or other contractual, legal or fiduciary obligation of confidentiality to, Genworth Financial with respect to such information; or 	 

  

	 	(5)	is developed independently by the Genworth Australia Group without reference to the Genworth Financial Confidential Information. 	 

  

	 	(c)	If either Genworth Financial or Genworth Australia (or their respective Affiliates) is requested or required (by oral question, interrogatories, requests for information or
documents, subpoena, civil investigative demand or similar process) by any Governmental Authority or pursuant to Applicable Law to disclose or provide any Genworth Australia Confidential Information or Genworth Financial Confidential Information
(other than with respect to any such information furnished pursuant to the financial reporting provisions of the Shareholder Agreement, which each party shall be permitted to disclose in its public filings as required by any Governmental Authority
or pursuant to Applicable Law and in accordance with past practice), as applicable, the Person receiving such request or demand shall use all reasonable efforts to provide the other party with written notice of such request or demand as promptly as
practicable under the circumstances so that such other party shall have an opportunity to seek an appropriate protective order. The party receiving such request or demand agrees to take, and cause its Representatives to take, at the requesting
party’s expense, all other reasonable steps necessary to obtain confidential treatment by the recipient. Subject to the foregoing, the party that received such request or demand may thereafter disclose or provide any Genworth Australia
Confidential Information or Genworth Financial Confidential Information, as the case may be, to the extent required by such Law (as so advised by counsel) or by lawful process or such Governmental Authority. 	 

  

	 	(d)	In the event that any disclosure of information is made in contravention of this clause 4, the party that has made or permitted to be made such contravening disclosure shall
immediately notify the other party thereof. 	 

  
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	 5

 
	  	 Release; indemnification

 

  

	5.1	Release of pre-closing claims 	 

  

	 	(a)	Except as provided in clause 5.1(d), below, effective as of the time of Closing, Genworth Australia does hereby, for itself and as agent for each of its Affiliates, remise,
release and forever discharge Genworth Financial, its Affiliates and each of their respective directors, officers and employees, and their heirs, executors, successors and assigns, directly or indirectly from any and all Liabilities whatsoever,
whether at law or in equity (including any right of contribution), existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed
on or before the time of Closing, including in respect of the transactions and all other activities to implement any of the Initial Public Offering or the transactions contemplated by this Agreement or any of the IPO Agreements. 	 

  

	 	(b)	Except as provided in clause 5.1(d), below, effective as of the time of Closing, Genworth Financial does hereby, for itself and as agent for each of its Affiliates, remise,
release and forever discharge Genworth Australia, its Affiliates and each of their respective directors, officers and employees, and their heirs, executors, successors and assigns, directly or indirectly from any and all Liabilities whatsoever,
whether at law or in equity (including any right of contribution), existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed
before the time of Closing, including in respect of the transactions and all other activities to implement any of the Initial Public Offering or the transactions contemplated in this Agreement or any of the IPO Agreements. 	 

  

	 	(c)	Genworth Australia, for itself and as agent for each of its Affiliates, and Genworth Financial, for itself and as agent for each of its Affiliates, do hereby agree, represent,
and warrant that the matters released herein are not limited to matters which are known or disclosed. Genworth Australia and Genworth Financial may hereafter discover facts in addition to or different from those which it now knows or believes to be
true with respect to the subject matter of this release, but each shall be deemed to have, finally and forever settled and released any and all claims, known or unknown, suspected or unsuspected, contingent or non-contingent, whether or not
concealed or hidden, which now exist, or heretofore have existed upon any theory of law or equity now existing or coming into existence in the future, including but not limited to, conduct which is negligent, intentional, with or without malice, or
a breach of any duty, law or rule, without regard to the subsequent discovery or existence of such different or additional facts. 	 

  

	 	(d)	Nothing contained in any of clauses 5.1(a), 5.1(b) or 5.1(c) shall impair any right of any Person to enforce this Agreement (including the provisions of clauses 5.1(a), 5.1(b),
5.1(c), 5.2 and 5.3 hereof), any other IPO Agreement, any other agreement in force and effect between any member of the Genworth Australia Group and any member of the Genworth Financial Group, or any debt or liability owing by any member of the
Genworth Financial Group to any member of the Genworth Australia Group (or vice versa), which arises from and after the Closing, in each case in accordance with its terms. 	 

  

	 	(e)	 Genworth Australia agrees, for itself and as agent for each of its Affiliates, not to make any claim or demand, or commence any Action asserting any claim or
demand, including any claim of contribution or any indemnification, against 
	 

  
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Genworth Financial, or any other Person released pursuant to clause 5.1(a), with respect to any Liabilities released pursuant to clause 5.1(a). 	 

  

	 	(f)	Genworth Financial agrees, for itself and as agent for each of its Affiliates, not to make any claim or demand, or commence any Action asserting any claim or demand, including
any claim of contribution or any indemnification, against Genworth Australia or any other Person released pursuant to clause 5.1(b), with respect to any Liabilities released pursuant to clause 5.1(b). 	 

  

	 	(g)	At any time, at the request of the other party, each party shall cause each of its respective Affiliates and other released Persons to execute and deliver releases reflecting the
provisions hereof and such other documents as are necessary to effect the purposes hereof. 	 

  

	 	(h)	Nothing in clauses 5.1(a), 5.1(b) or 5.1(c) shall impair any right of any Person to enforce any right, liability or claim arising under or pursuant to any of the following
documents (as they may be amended from time to time): 	 

  

	 	(1)	Amended and Restated Annual First Tier Excess of Loss Reinsurance Contract between GF Mortgage Insurance and Genworth Mortgage Insurance Corporation dated 11 May 2011, as
amended by Amendment to Amended and Restated Annual First Tier Excess of Loss Reinsurance Contract dated 23 February 2012; 	 

  

	 	(2)	Amended and Restated Annual Second Tier Excess of Loss Reinsurance Contract between GF Mortgage Insurance and Brookfield dated 23 February 2012; 	 

  

	 	(3)	Amended and Restated Annual Excess of Loss Reinsurance Contract between GF Mortgage Insurance and Brookfield dated 11 May 2011, as amended by Amendment to Amended and
Restated Annual Excess of Loss Reinsurance Contract dated 23 February 2012; 	 

  

	 	(4)	Cost Agreement between Genworth Financial and GE Mortgage Insurance Company Pty Ltd dated 15 July 2005, as amended by Amendment No.1 to Cost Agreement (Australia) dated
4 April 2012 and Amendment No.2 to Cost Agreement (Australia) dated 11 March 2014; 	 

  

	 	(5)	Master Services Agreement between GFIH and GF Mortgage Insurance dated 20 December 2006; 	 

  

	 	(6)	IT Services Agreement; 	 

  

	 	(7)	an Investment Management Agreement for Australian private placements between GF Mortgage Insurance and GFIH to be entered into on or around the date of this agreement (to the
extent that this agreement is entered into prior to Closing); 	 

  

	 	(8)	this Agreement; 	 

  

	 	(9)	Shareholder Agreement; 	 

  

	 	(10)	Shared Services Agreement; 	 

  

	 	(11)	Cross License; and 	 

  

	 	(12)	Trade-mark License. 	 

 (each an Excluded Claim). 

 

	 	(i)	Genworth Financial represents and warrants to Genworth Australia that it does not have knowledge of any matters that are reasonably likely to give rise to a material liability to
Genworth Australia that have not been brought to the attention of, or are not otherwise known by, Genworth Australia. 	 

  
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	5.2	General indemnification by Genworth Australia 	 

 Except as provided in clause 5.4 and to the extent permitted by
Applicable Law, Genworth Australia shall indemnify, defend and hold harmless on an After-Tax Basis Genworth Financial and its Affiliates and their respective directors, officers and employees, and their heirs, executors, successors and assigns
(collectively, the Genworth Financial Indemnified Parties) from and against any and all Liabilities arising out of, resulting from or otherwise related to any of the following items (without duplication): 

 

	 	(a)	any failure by any member of the Genworth Australia Group or any other Person to pay, perform or otherwise properly discharge any Liability (other than a Liability released under
clause 5.1(b)) of any member of the Genworth Australia Group, whether prior to or after the Closing Date; 	 

  

	 	(b)	any Third Party Claims related to the operation by any member of the Genworth Australia Group of any current or future businesses, irrespective of when the facts giving rise to
the claim arose (other than a Liability arising solely as a result of the Restructure Steps being undertaken in the manner contemplated in Schedule 2); 	 

  

	 	(c)	any breach by Genworth Australia of this Agreement or any other IPO Agreement; and 	 

  

	 	(d)	all information contained in the prospectus and any other materials distributed in connection with the Initial Public Offering, and any untrue statement or alleged untrue
statement of a material fact or omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case other than: 	 

  

	 	(1)	with respect to statements or omissions relating exclusively to (i) Genworth Financial, and (ii) Genworth Financial’s businesses, (the Genworth Financial
Disclosure Portions); or 	 

  

	 	(2)	to the extent that any such Liability is finally judicially determined by a court of competent jurisdiction to have been primarily caused by the fraud or wilful misconduct of
Genworth Financial. 	 

 Without limiting the foregoing, the parties acknowledge that
Genworth Australia has, and Genworth Financial does not have, direct knowledge of the matters disclosed in the prospectus (other than the Genworth Financial Disclosure Portions), and Genworth Financial has reasonably relied on Genworth Australia in
respect of those matters. It is further acknowledged that Genworth Financial has given no warranty or assurance in relation to Genworth Australia or any matter disclosed in the prospectus (other than the Genworth Financial Disclosure Portions)
(other than the warranties expressly set out in this Agreement). 
  

	5.3	General indemnification by Genworth Financial 	 

 Except as provided in clause 5.4 and to the extent permitted by
Applicable Law, Genworth Financial shall indemnify, defend and hold harmless on an After-Tax Basis Genworth Australia and its Affiliates and each of their respective directors, officers and employees, and their heirs, executors, successors and
assigns (collectively, the Genworth Australia Indemnified Parties) from and against any and all Liabilities arising out of, resulting from or otherwise related to any of the following items (without duplication): 

 

	 	(a)	 any failure by Genworth Financial or any other Person to pay, perform or otherwise properly discharge any of Liability (other than a Liability released

	 

  
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Agreement            page 15 

 

 
  

	 	
under clause 5.1(a)) of any member of the Genworth Financial Group, whether prior to or after the Closing Date; 	 

  

	 	(b)	any Third Party Claims related to the operation by the Genworth Financial Group of any current or future Genworth Financial businesses, irrespective of when the facts giving rise
to the claim arose (other than a Liability arising solely as a result of the Restructure Steps being undertaken in the manner contemplated in Schedule 2); 	 

  

	 	(c)	any breach by Genworth Financial of this Agreement or any other IPO Agreement; 	 

  

	 	(d)	all information contained in the Genworth Financial Disclosure Portions, and any untrue statement or alleged untrue statement of a material fact or omission or alleged omission
to state a material fact required to be stated therein or necessary to make the statements therein not misleading, except to the extent that any such Liability is finally judicially determined by a court of competent jurisdiction to have been
primarily caused by the fraud or wilful misconduct of Genworth Australia; 	 

  

	 	(e)	any adjustment by a Government Authority to the Tax Cost (as that term is defined in section 995-1 of the Income Tax Assessment Act 1997 (Cth)) of assets held by Genworth
Australia on the date of the initial public offering of Genworth Financial on 25 May 2004, that have been disposed of as at the Closing Date but only for so much of the amount of the adjustment that was not otherwise provided for in the monthly
Australian accounts (prepared in accordance with Australian generally accepted accounting principles (AGAAP)) of the Genworth Australia Group as at the Closing Date; and 	 

  

	 	(f)	one or more of the Genworth Australia Indemnified Parties being joined or otherwise included as a party to any Action involving allegations of violations of securities laws
against Genworth Financial pending on the Closing Date (or any related Action or other Action based on substantially the same facts as any such pending Action). 	 

  

	5.4	Contribution 	 

  

	 	(a)	If the indemnification provided for in this clause 5 is unavailable to, or insufficient to hold harmless on an After-Tax Basis, an indemnified party under clause 5.2(d) or clause
5.3(d) hereof in respect of any Liabilities referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such Liabilities (or actions in respect thereof) in such proportion
as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party in connection with the actions which resulted in Liabilities as well as any other relevant equitable considerations. The relative fault of such
indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information
supplied by such indemnifying party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 	 

  

	 	(b)	 The parties hereto agree that it would not be just and equitable if contribution pursuant to this clause 5.4 were determined by a pro rata allocation or by any
other method of allocation that does not take account of the equitable considerations referred to in clause 5.4(a) above. The amount paid or payable by an indemnified party as a result of the Liabilities referred to in clause 5.4(a), above, shall be
deemed to include, subject to the limitations set forth above, 
	 

  
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any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating any claim or defending any Action. No person guilty of fraudulent
misrepresentation shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 	 

  

	5.5	Indemnification obligations net of insurance proceeds and other amounts, on an After-Tax Basis 	 

  

	 	(a)	Any Liability subject to indemnification or contribution pursuant to this clause 5 will be net of Insurance Proceeds that actually reduce the amount of the Liability and will be
determined on an After-Tax Basis. Accordingly, the amount which any party (an Indemnifying Party) is required to pay to any Person entitled to indemnification hereunder (an Indemnified Party) will be reduced by any Insurance Proceeds
theretofore actually recovered by or on behalf of the Indemnified Party in respect of the related Liability. If an Indemnified Party receives a payment (an Indemnity Payment) required by this Agreement from an Indemnifying Party in respect of
any Liability and subsequently receives Insurance Proceeds, then the Indemnified Party will pay to the Indemnifying Party an amount equal to the excess of the Indemnity Payment received over the amount of the Indemnity Payment that would have been
due if the Insurance Proceeds had been received, realized or recovered before the Indemnity Payment was made. 	 

  

	 	(b)	An insurer who would otherwise be obligated to pay any claim shall not be relieved of the responsibility with respect thereto or, solely by virtue of the indemnification
provisions hereof, have any subrogation rights with respect thereto. The Indemnified Party shall use its commercially reasonable efforts to seek to collect or recover any third-party Insurance Proceeds (other than Insurance Proceeds under an
arrangement where future premiums are adjusted to reflect prior claims in excess of prior premiums) to which the Indemnified Party is entitled in connection with any Liability for which the Indemnified Party seeks indemnification pursuant to this
clause 5; provided that the Indemnified Party’s inability to collect or recover any such Insurance Proceeds shall not limit the Indemnifying Party’s obligations hereunder. 	 

  

	 	(c)	The term “After-Tax Basis” as used in this clause 5 means that, in determining the amount of the payment necessary to indemnify any party against, or reimburse
any party for, Liabilities, the amount of such Liabilities will be determined net of any reduction in Tax derived by the indemnified party as the result of sustaining or paying such Liabilities, and the amount of such indemnification payment will be
increased (i.e., ‘grossed up’) by the amount necessary to satisfy any income or other Tax liabilities incurred by the indemnified party as a result of its receipt of, or right to receive, such indemnification payment (as so increased), so
that the indemnified party is put in the same net after-Tax economic position as if it had not incurred such Liabilities, in each case without taking into account any impact on the tax basis that an indemnified party has in its assets. 	 

  

	5.6	Procedures for indemnification of Third Party Claims 	 

  

	 	(a)	 If an Indemnified Party shall receive notice or otherwise learn of the assertion by a Person (including any Governmental Authority) who is not a party or one of
its Affiliates of any claim or of the commencement by any such Person of any Action (collectively, a Third Party Claim) with respect to which an Indemnifying Party may be obligated to provide indemnification to such Indemnified Party pursuant
to clause 5.2 or 5.3, or any other clause of this Agreement or any other IPO Agreement, such Indemnified Party shall give such Indemnifying 
	 

  
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Agreement            page 17 

 

 
  

	 	
Party written notice thereof within 10 days after becoming aware of such Third Party Claim. Any such notice shall describe the Third Party Claim in reasonable detail. Notwithstanding the
foregoing, the failure of any Indemnified Party or other Person to give notice as provided in this clause 5.6(a) shall not relieve the Indemnifying Party of its obligations under this clause 5 or under the indemnification provisions of any other IPO
Agreement, except to the extent that such Indemnifying Party is actually prejudiced by such failure to give notice. 	 

  

	 	(b)	An Indemnifying Party may elect to defend (and to seek to settle or compromise), at such Indemnifying Party’s own expense and by such Indemnifying Party’s own counsel,
any Third Party Claim. Within 60 days after the receipt of notice from an Indemnified Party in accordance with clause 5.6(a) (or sooner, if the nature of such Third Party Claim so requires), the Indemnifying Party shall notify the Indemnified Party
of its election whether the Indemnifying Party will assume responsibility for defending such Third Party Claim, which election shall specify any reservations or exceptions. During such time, the Indemnified Party shall not take any action that could
prejudice the Indemnifying Party’s ability to defend the Third Party Claim. After notice from an Indemnifying Party to an Indemnified Party of its election to assume the defence of a Third Party Claim, such Indemnified Party shall have the
right to employ separate counsel and to participate in (but not control) the defence, compromise, or settlement thereof, but the fees and expenses of such counsel shall be the expense of such Indemnified Party except as set forth in the next
sentence. If the Indemnifying Party has elected to assume the defence of the Third Party Claim but has specified, and continues to assert, any reservations or exceptions in such notice, then, in any such case, the reasonable fees and expenses of one
separate counsel for all Indemnified Parties shall be borne by the Indemnifying Party, but the Indemnifying Party shall be entitled to reimbursement by the Indemnified Party for payment of any such fees and expenses to the extent that it establishes
that such reservations and exceptions were proper. 	 

  

	 	(c)	If an Indemnifying Party elects not to assume responsibility for defending a Third Party Claim, or fails to notify an Indemnified Party of its election as provided in clause
5.6(b), such Indemnified Party may defend such Third Party Claim at the cost and expense of the Indemnifying Party. 	 

  

	 	(d)	Unless the Indemnifying Party has failed to assume the defence of the Third Party Claim in accordance with the terms of this Agreement, no Indemnified Party may settle or
compromise any Third Party Claim without the consent of the Indemnifying Party. No Indemnifying Party shall consent to entry of any judgment or enter into any settlement of any pending or threatened Third Party Claim in respect of which any
Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party without the consent of the Indemnified Party if (i) the effect thereof is to permit any injunction, declaratory judgment,
other order or other nonmonetary relief to be entered, directly or indirectly against such Indemnified Party and (ii) such settlement does not include an unconditional release of such Indemnified Party from all liability on claims that are the
subject matter of such Third Party Claim. 	 

  

	5.7	Additional matters 	 

  

	 	(a)	 Indemnification or contribution payments in respect of any Liabilities for which an Indemnified Party is entitled to indemnification or contribution under this
clause 5 or under any other IPO Agreement shall be paid by the Indemnifying Party to the Indemnified Party as such Liabilities are incurred upon demand by the Indemnified Party, including reasonably satisfactory documentation setting forth the basis
for the amount of such indemnification or contribution payment, 
	 

  
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including documentation with respect to calculations made on an After-Tax Basis and consideration of any Insurance Proceeds that actually reduce the amount of such Liabilities. The indemnity and
contribution agreements contained in this clause 5 or under any other IPO Agreement shall remain operative and in full force and effect, regardless of (i) any investigation made by or on behalf of any Indemnified Party; (ii) the knowledge
by the Indemnified Party of Liabilities for which it might be entitled to indemnification or contribution hereunder; and (iii) any termination of this Agreement or any other IPO Agreement. 	 

  

	 	(b)	Any claim on account of a Liability which does not result from a Third Party Claim shall be asserted by written notice given by the Indemnified Party to the applicable
Indemnifying Party. Such Indemnifying Party shall have a period of 30 days after the receipt of such notice within which to respond thereto. If such Indemnifying Party does not respond within such 30-day period, such Indemnifying Party shall be
deemed to have refused to accept responsibility to make payment. If such Indemnifying Party does not respond within such 30-day period or rejects such claim in whole or in part, such Indemnified Party shall be free to pursue such remedies as may be
available to such party as contemplated by this Agreement and the other IPO Agreements without prejudice to its continuing rights to pursue indemnification or contribution hereunder or thereunder. 	 

  

	 	(c)	If payment is made by or on behalf of any Indemnifying Party to any Indemnified Party in connection with any Third Party Claim, such Indemnifying Party shall be subrogated to and
shall stand in the place of such Indemnified Party as to any events or circumstances in respect of which such Indemnified Party may have any right, defence or claim relating to such Third Party Claim against any claimant or plaintiff asserting such
Third Party Claim or against any other Person. Such Indemnified Party shall cooperate with such Indemnifying Party in a reasonable manner, and at the cost and expense of such Indemnifying Party, in prosecuting any subrogated right, defence or claim.
	 

  

	 	(d)	In an Action in which the Indemnifying Party is not a named defendant, if either the Indemnified Party or Indemnifying Party shall so request, the parties shall endeavour to
substitute the Indemnifying Party for the named defendant if they conclude that substitution is desirable and practical. If such substitution or addition cannot be achieved for any reason or is not requested, the named defendant shall allow the
Indemnifying Party to manage the Action as set forth in this clause 5.7(d), and the Indemnifying Party shall fully indemnify the named defendant against all costs of defending the Action (including court costs, sanctions imposed by a court,
attorneys’ fees, experts fees and all other external expenses), the costs of any judgment or settlement, and the cost of any interest or penalties relating to any judgment or settlement. 	 

  

	5.8	Remedies cumulative; limitations of liability 	 

 The rights provided in this clause 5 shall be cumulative and,
subject to the provisions of clause 6, shall not preclude assertion by any Indemnified Party of any other rights or the seeking of any and all other remedies against any Indemnifying Party. Notwithstanding the foregoing, no member of the Genworth
Financial Group (on the one hand) nor any member of the Genworth Australia Group (on the other hand) shall be liable to the other for any special, indirect, incidental, punitive, consequential, exemplary, statutorily-enhanced or similar damages in
excess of compensatory damages (provided that any such liability with respect to a Third Party Claim shall be considered direct damages) of the other in connection with this Agreement or the other IPO Agreements. 

  
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	5.9	Litigation and settlement cooperation 	 

 Prior to the Trigger Date, Genworth Financial will use its
commercially reasonable efforts to include Genworth Australia (or, if applicable, an Affiliate) in the settlement of any Third Party Claim which jointly involves Genworth Financial and Genworth Australia (or, if applicable, an Affiliate); provided,
however, that: 
  

	 	(a)	Genworth Australia (or, if applicable, the Affiliate) shall be responsible for its share of any such settlement obligation and any incremental cost (as reasonably determined by
Genworth Financial) to Genworth Financial of including Genworth Australia (or, if applicable, the Affiliate) in such settlement; and 	 

  

	 	(b)	Genworth Australia (or, if applicable, the Affiliate) shall be permitted in good faith to opt out of any settlement if Genworth Australia (or the relevant Affiliate) agrees to be
responsible for defending its share of such Third Party Claim. 	 

 The parties agree to cooperate in the defence and settlement of any
such Third Party Claim which primarily relates to matters, actions, events or occurrences taking place prior to the Trigger Date. In addition, both Genworth Australia and Genworth Financial will use their commercially reasonable efforts to make the
necessary filings to permit each party to defend its own interests in any such Third Party Claim as of the Trigger Date, or as soon as practicable thereafter. 
  

			
	 6
  
	  	 Dispute resolution

 

  

	6.1	Dispute resolution 	 

 Unless the parties otherwise agree in writing and except as
otherwise set forth in this Agreement or in any other IPO Agreement, any dispute, controversy or claim arising out of, or relating to this Agreement or the other IPO Agreements, including the validity, interpretation, performance, breach or
termination thereof (a Dispute), shall be resolved in accordance with the provisions of this clause 6, which shall be the sole and exclusive procedures for the resolution of any such Dispute unless otherwise specified below or in any other
IPO Agreement. 
  

	6.2	General provisions 	 

  

	 	(a)	All communications (including and subsequent to the Request for Arbitration) between the parties or their Representatives in connection with the attempted resolution or
determination of any Dispute shall be deemed to have been delivered in furtherance of a Dispute settlement and shall be exempt from production, and shall not be admissible in evidence for any reason (whether as an admission or otherwise), in any
proceeding for the resolution of the Dispute. 	 

  

	 	(b)	Notwithstanding anything to the contrary contained in this clause 6, any Dispute relating to Genworth Financial’s rights as a shareholder of Genworth Australia pursuant to
Applicable Law, Genworth Australia’s constituent documents or the Shareholder Agreement, will not be governed by or subject to the procedures set forth in clause 6.3, below. 	 

  
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	6.3	Arbitration 	 

  

	 	(a)	Any Dispute shall be finally determined by arbitration, administered by the International Chamber of Commerce (ICC) and conducted under the Rules of Arbitration of the
International Chamber of Commerce (the ICC Rules). 	 

  

	 	(b)	The arbitral tribunal shall be composed of three arbitrators, appointed in accordance with the ICC Rules. 	 

  

	 	(c)	The seat of the arbitration shall be New York, New York, United States of America. 	 

  

	 	(d)	The language of the arbitration shall be English. 	 

  

	 	(e)	If more than one arbitration is commenced in relation to this Agreement or the other IPO Agreements and any party contends that two or more such arbitrations raise similar issues
of law or fact and that the issues should be resolved in one set of proceedings, the arbitral tribunal appointed in the first filed proceedings (the First Tribunal) shall have the power to determine prior to the exchange of pleadings in the
first filed proceedings whether in the interests of justice and efficiency the proceedings shall be consolidated. The tribunal in such consolidated proceedings shall be selected as follows: (i) the parties to the consolidated proceedings shall
agree on the composition of the tribunal; and (ii) failing such agreement within 30 days of consolidation being ordered by the First Tribunal the ICC Court shall appoint all members of the tribunal within 30 days of a written request by any of
the parties to the consolidated proceedings. 	 

  

	 	(f)	Each party shall be permitted to present its case, witnesses and evidence, if any, in the presence of the other party. A written transcript of the proceedings shall be made and
furnished to the parties. 	 

  

	 	(g)	The arbitrators shall determine the Dispute in accordance with the laws of New South Wales, Australia, without giving effect to any conflict of law rules or other rules that
might render such law inapplicable or unavailable, and shall apply this Agreement and the other IPO Agreements according to their respective terms. 	 

  

	 	(h)	The parties agree to be bound by any award or order resulting from any arbitration conducted in accordance with this clause 6.3. The parties undertake to carry out any award
without delay and shall be deemed to have waived their right to appeal such award insofar as such waiver can validly be made. The parties further agree that judgment on any award or order resulting from an arbitration conducted under this clause 6.3
may be entered and enforced in any court having jurisdiction thereof. 	 

  

	 	(i)	Except as expressly permitted by this Agreement, no party will commence or voluntarily participate in any court action or proceeding concerning a Dispute, except (i) for
enforcement as contemplated by clause 6.3(h) above, (ii) to restrict or vacate an arbitral decision based on the grounds specified under Applicable Law, or (iii) for interim relief as provided in clause 6.3(j) below. For purposes of this
clause 6.3(i), the parties hereto submit to the non-exclusive jurisdiction of the courts of the State of New York. 	 

  

	 	(j)	 In addition to the authority otherwise conferred on the arbitral tribunal, the tribunal shall have the authority to make such orders for interim relief,
including injunctive relief, as it may deem just and equitable. Notwithstanding clause 6.3(i) above, each party acknowledges that in the event of any actual or threatened breach of the provisions of (i) clause 4.1, (ii) the Cross License,
and (iii) the Transitional Trade-Mark License, the remedy at law would not be adequate, and therefore injunctive or other interim relief may be sought immediately to restrain such breach. The parties may apply to any competent judicial
authority for interim or conservatory measures. The application of a 
	 

  
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party to a judicial authority for such measures or for the implementation of any such measures ordered by an arbitral tribunal shall not be deemed to be an infringement or a waiver of the
arbitration agreement and shall not affect the relevant powers reserved to the arbitral tribunal. 	 

  

	 	(k)	The arbitral tribunal shall have the authority and discretion to award costs in connection with the resolution of any Dispute in accordance with this clause 6 and the ICC Rules.
	 

  

			
	 7

 
	  	 General provisions

 

  

	7.1	Representations and warranties; fiduciary duties 	 

  

	 	(a)	Each of Genworth Financial and Genworth Australia represents as follows: 	 

  

	 	(1)	each such Person has the requisite corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver and perform each of
this Agreement and each other IPO Agreement to which it is a party and to consummate the transactions contemplated hereby and thereby; and 	 

  

	 	(2)	this Agreement and each other IPO Agreement to which it is a party has been duly executed and delivered by it and constitutes a valid and binding agreement of it enforceable in
accordance with the terms thereof. 	 

  

	 	(b)	Notwithstanding any provision of this Agreement or any other IPO Agreement, none of Genworth Financial nor Genworth Australia (nor any of their respective Affiliates) shall be
required to take or omit to take any action, whether with respect to any matter covered by this Agreement, any other IPO Agreement or otherwise, that would violate its fiduciary duties to any minority shareholders or non-wholly owned Subsidiaries
(it being understood that directors’ qualifying shares or similar interests will be disregarded for purposes of determining whether a Subsidiary is wholly owned). 	 

  

	7.2	Further assurances 	 

  

	 	(a)	In addition to the actions specifically provided for elsewhere in this Agreement and the other IPO Agreements, each of the parties hereto will cooperate with each other and use
commercially reasonable efforts, prior to, on and after the Closing Date, to take, or to cause to be taken, all actions, and to do, or to cause to be done, all things reasonably necessary on its part under Applicable Law or contractual obligations
to consummate and make effective the transactions contemplated by this Agreement and the other IPO Agreements. 	 

  

	 	(b)	 Without limiting the foregoing, prior to, on and after the Closing Date, each party hereto shall cooperate with the other parties, and without any further
consideration, but at the expense of the requesting party from and after the Closing Date, to execute and deliver, or use its commercially reasonable efforts to cause to be executed and delivered, all instruments and to make all filings with, and to
obtain all consents, approvals or authorizations of, any Governmental Authority or any other Person under any permit, license, agreement, indenture or other instrument (including any Consents or Governmental Approvals), and to take all such other
actions as such party may reasonably be requested to take by any other party hereto from time to time, consistent with the terms of this Agreement and the other IPO Agreements, in 
	 

  
 Master
Agreement            page 22 

 

 
  

	 	
order to effectuate the provisions and purposes of this Agreement and the other IPO Agreements. 	 

  

	 	(c)	On or prior to the Closing Date, Genworth Financial and Genworth Australia in their respective capacities as direct and indirect shareholders of their respective Subsidiaries,
shall each ratify any actions that are reasonably necessary or desirable to be taken by Genworth Financial, Genworth Australia or any other Subsidiary of Genworth Financial or Genworth Australia, as the case may be, to effectuate the transactions
contemplated by this Agreement and the other IPO Agreements. 	 

  

	 	(d)	Notwithstanding any other provision of this Agreement and the other IPO Agreements, each party agrees to cooperate with the other party, and provide all assistance reasonably
requested by the other party, to enable the other party to respond to any actual or threatened litigation or other legal proceedings or regulatory enquiries which relate in any way (in whole or in part) to matters, actions, events or occurrences
taking place prior to the Trigger Date, including, but not limited to, by: 	 

  

	 	(1)	allowing the other party and its directors, officers and advisers full and free access to its premises, books and records; 	 

  

	 	(2)	allowing the other party and its directors, officers and advisers full and free access to (and taking reasonable steps to facilitate such access to) its current and former
directors, officers and employees; 	 

  

	 	(3)	providing copies of, or preparing, any relevant analysis, documents or other information to the other party; and 	 

  

	 	(4)	otherwise assisting as reasonably requested by the other party in any such legal proceedings or regulatory enquiries. 	 

  

	7.3	Survival of covenants 	 

 Except as expressly set forth in any IPO Agreement, the covenants
and other agreements contained in this Agreement and each IPO Agreement, and liability for the breach of any obligations contained herein or therein, shall survive the Closing and shall remain in full force and effect. 

 

	7.4	Governing law 	 

 This Agreement and, unless expressly provided therein, each other
IPO Agreement, shall be governed by and construed and interpreted in accordance with the laws of New South Wales excluding its conflict of laws rules. 
  

	7.5	Force majeure 	 

 No party hereto (or any Person acting on its behalf) shall have any
liability or responsibility for failure to fulfil any obligation (other than a payment obligation) under this Agreement so long as and to the extent to which the fulfilment of such obligation is prevented, frustrated, hindered or delayed as a
consequence of circumstances of Force Majeure; provided that such party shall have exhausted the procedures described in its disaster recovery, crisis management, and business continuity plan if applicable. A party claiming the benefit of this
provision shall, as soon as reasonably practicable after the party knew or ought to have known of the impediment: 
  

	 	(a)	notify the other party of the nature and extent of any such Force Majeure condition and 	 

  
 Master
Agreement            page 23 

 

 
  

	 	(b)	use commercially reasonable efforts to remove any such causes and resume performance under this Agreement as soon as feasible. 	 

 If the party claiming the benefit of this provision fails to do the
things set out in clauses 7.5(a) or 7.5(b) above, it is liable for damages resulting from such failure. 
  

	7.6	Notices 	 

 All notices, requests, claims, demands and other communications
under this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile with receipt confirmed (followed by delivery of
an original via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice
given in accordance with this clause 7.6): 
  

					
	 	 	 	  	Genworth Financial
			
		 	Address	  	 Genworth Financial, Inc.
  

6620 West Broad Street
  
 Richmond, VA 23230

			
		 	Attention	  	General Counsel
			
		 	Phone	  	804.662.2574
			
		 	 Fax
  
	  	 804.662.2414
  

 

		 	  

	 	 	 	  	  
  

Genworth Australia

			
		 	Address	  	 Level 26
  
 101 Miller Street
  
 North Sydney NSW
2060

			
		 	Attention	  	General Counsel
			
		 	Phone	  	+61 2 8248 2284
			
		 	 Fax
  
	  	 +61 2 8916 7242
  

 

		 	  

  

	7.7	Taxes 	 

  

	 	(a)	Except as provided in clause 5.5(c), each party shall be responsible for any personal property taxes on property it owns or leases, for any and all taxes on its business, and for
taxes based on its net income or gross receipts and any other similar taxes imposed by any Governmental Authority, together with any and all interest, fines and penalties (collectively, Taxes). 	 

  

	 	(b)	Each amount paid or credited under this Agreement shall be net of any amount with respect to Taxes required to be withheld or remitted under Applicable Laws. 	 

  

	 	(c)	 All the amounts that either party shall charge the other under the IPO Agreements shall be exclusive of GST or any other sales, use, excise, value-added, goods
and services, consumption and any other similar taxes and duties imposed or deemed imposed by the laws of any Governmental Authority, 
	 

  
 Master
Agreement            page 24 

 

 
  

	 	
together with any and all interest, fines and penalties (collectively, Sales Taxes) owed, which shall be borne by the payor. 	 

  

	 	(d)	A payee shall promptly notify the applicable payor of, and coordinate with the payor the response to and settlement of, any claim for Sales Taxes asserted by applicable taxing
authorities against the payee for which the payor is alleged to be financially responsible hereunder. Notwithstanding the above, the payor’s liability for such Sales Taxes is conditioned upon the payee providing the payor notification within 10
business days of receiving any proposed assessment of any additional Sales Taxes, interest or penalty due by the payee; provided that the payor shall be solely responsible for paying any Sales Taxes, interest and penalties assessed directly against
the payor. Notwithstanding the foregoing, the failure of the payee to give notice as provided in this clause 7.7(d) shall not relieve the payor of its obligations under this clause 7.7(d), except to the extent that the payor is actually prejudiced
by such failure to give notice. 	 

  

	 	(e)	A payor shall promptly notify the applicable payee of, and coordinate with the payee the response to and settlement of, any claim for Taxes asserted by applicable taxing
authorities against the payor for which the payee is alleged to be financially responsible hereunder. Notwithstanding the above, the payee’s liability for such Taxes is conditioned upon the payor providing the payee notification within 10
business days of receiving any proposed assessment of any additional Taxes, interest or penalty due by the payor; provided that the payee shall be solely responsible for paying any Taxes, interest and penalties assessed directly against the payee.
Notwithstanding the foregoing, the failure of the payor to give notice as provided in this clause 7.7(e) shall not relieve the payee of its obligations under this clause 7.7(e), except to the extent that the payee is actually prejudiced by such
failure to give notice. 	 

  

	 	(f)	Each payor shall be entitled to receive and to retain any refund of Sales Taxes paid to a payee pursuant to any IPO Agreement. In the event a payee shall be entitled to receive a
refund of any Sales Taxes paid by a payor to the payee, the payee shall promptly pay, or cause the payment of, such refund to the payor. 	 

  

	 	(g)	Each of the parties agrees that if reasonably requested by the other party, it will cooperate with such other party to enable the accurate determination of such other
party’s tax liability and assist such other party in minimizing its tax liability to the extent legally permissible. Any invoices issued by a party shall separately state the amounts of any Taxes or Sales Taxes that such party is proposing to
collect from the relevant payor, and shall separately allocate and identify fees and charges in respect of Services provided in Australia, if any. 	 

  

	 	(h)	 From the date of this Agreement until the first date on which members of the Genworth Financial Group do not have a Relevant Interest in aggregate in 33 1/3% or more of the outstanding ordinary shares of Genworth Australia, Genworth Australia shall continue to file all tax returns on a basis consistent with past practice unless (i) otherwise agreed to in writing
by Genworth Financial, or (ii) otherwise required by Applicable Law. 
	 

  

	 	(i)	Notwithstanding clauses 5.2 and 5.3 or any other provision of this Agreement, the parties agree that, except as provided for in clause 5.3(e) and 5.5(c), the parties’
Liability for Taxes and Sales Taxes is to be dealt with solely under this clause 7.7. 	 

  

	7.8	Regulatory approval and compliance 	 

 Each of Genworth Financial and Genworth Australia shall be
responsible for its own compliance with any and all Laws applicable to its performance under this Agreement; provided, however, that each of Genworth Financial and Genworth Australia shall, subject

  
 Master
Agreement            page 25 

 

 
  

 
to reimbursement of out-of-pocket expenses by the requesting party, cooperate and provide one another with all reasonably requested assistance (including, without limitation, the execution of
documents and the provision of relevant information) required by the requesting party to ensure compliance with all Applicable Laws in connection with any regulatory action, requirement, inquiry or examination related to this Agreement or the other
IPO Agreements. 
  

	7.9	Severability 	 

 If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced under any Applicable Law or as a matter of public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties to this Agreement shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable
manner in order that the transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent possible. 
  

	7.10	Entire agreement 	 

 Except as otherwise expressly provided in this Agreement, this
Agreement (including the Exhibits hereto) constitutes the entire agreement of the parties hereto with respect to the subject matter of this Agreement and supersedes all prior agreements and undertakings, both written and oral, between or on behalf
of the parties hereto with respect to the subject matter of this Agreement. 
  

	7.11	Assignment; no third-party beneficiaries 	 

  

	 	(a)	Except as expressly set forth below or in any other IPO Agreement, neither this Agreement nor any other IPO Agreement may be assigned by any party hereto or thereto without the
prior written consent of the other party, such consent not to be unreasonably withheld. Notwithstanding the foregoing, this Agreement and (subject to the express terms of the other IPO Agreements) the other IPO Agreements (other than the Shareholder
Agreement or the Transitional Trade-Mark License) may be assigned: 	 

  

	 	(1)	by Genworth Australia to a third party to the extent that Genworth Australia transfers substantially all of its business to such third party; and 	 

  

	 	(2)	by Genworth Financial to a third party to the extent that Genworth Financial transfers substantially all of any one or more of its businesses or Affiliates that are engaged in
providing Services to or receiving Services from Genworth Australia to such third party; 	 

  

	 	(3)	by either party to the surviving entity in any merger, consolidation, equity exchange or reorganization involving such party; 	 

 provided that, in any such event, the assignee executes an
agreement to be bound by all of the obligations of such transferor under this Agreement and the relevant IPO Agreement(s) (copies of which agreements shall be provided to the other party). 

 

	 	(b)	 Notwithstanding clause 7.11(a) or any other provision of this Agreement, in the event that Genworth Financial transfers one or more of its Affiliates to a third
party, such Affiliate shall cease to be (and such third party transferee shall not be) bound by the restrictions set forth in clause 4.1(a) hereof from and after the time of completion of the transfer; provided however, that Genworth Financial

	 

  
 Master
Agreement            page 26 

 

 
  

	 	
shall use all commercially reasonable efforts to ensure that: (i) such Affiliate returns or destroys any Genworth Australia Confidential Information in its possession prior to such transfer,
and (ii) no Genworth Australia Confidential Information is disclosed to or used by such Affiliate or such third party transferee (following completion of the transfer) without the prior written consent of Genworth Australia.
	 

  

	 	(c)	Except as provided in clause 5 with respect to Indemnified Parties, this Agreement is for the sole benefit of the parties to this Agreement and their permitted successors and
assigns and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. In respect of clause 5,
Genworth Financial and Genworth Australia enter into this Agreement for their own benefit and for the benefit of Genworth Financial Indemnified Parties and the Genworth Australia Indemnified Parties respectively. 	 

  

	7.12	Amendment; waiver 	 

 No provision of this Agreement, or of any other agreement dated as
of the date hereof, between Genworth Financial and Shareholderco, related solely to this Agreement, may be amended or modified except by a written instrument signed by all the parties hereto. No waiver by any party of any provision hereof shall be
effective unless explicitly set forth in writing and executed by the party so waiving. The waiver by either party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other subsequent breach.

  

	7.13	Counterparts 	 

 This Agreement may be executed in one or more counterparts, and by
the different parties to each such agreement in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of
a signature page to this Agreement by facsimile or electronic transmission shall be as effective as delivery of a manually executed counterpart of any such Agreement. 

  
 Master
Agreement            page 27 

 

 
  

 Schedule 1 
  

			
		  	 Expenses of the Initial Public Offering (clause 2.1(a))

 

		  	  

 Actuarial 
 Audit & Accounting 
 Equity Plan/Compensation & Benefits
Administration 
 Executive Remuneration Advice 

Investment Banking Fees 
 IR/roadshows 
 Legal 

PR/Media Advisory 
 Program Management 
 Prospectus Printing/Mailing 

Regulatory Fees 
 Share Registry 
 Tax Advisory 

  
 Master
Agreement            page 28 

 

 
  

 Schedule 2 

 

			
		  	 Restructure Steps (Clause 1.1)
  

		  	  

 The restructure involves the following 12 Restructure Steps. Note the steps commence from
Step 4, with Steps 1 and 2 having been completed in 2011, and Step 3 was completed on 20 March 2014. 
  

							
		 	  

Step
  
	  	  

Parties
  
	  	  
 Action(s)
  

		 	  
 4
	  	  

Brookfield
  
 GFIH
	  	  
 Brookfield and GFIH form an Australian general partnership to be known as Genworth Australian General Partnership with the following respective interests: Brookfield - 99.9%;
and GFIH - 0.01%.
  

		 	  
 5
	  	  

Brookfield
  
 AGP
  
 GFAH

 
	  	  
 Brookfield transfers to AGP its interest in GFAH and the loan receivable owing from GFAH (Note 1). As consideration, Brookfield increases its interest in AGP.

		 	  
 6
	  	  

AGP
  
 Brookfield
  
 GF New Holdings

 
	  	  
 AGP purchases from Brookfield its holding of ordinary and redeemable preference shares in GF New Holdings. As consideration, AGP provides consideration in the form of a note/loan (Note
4).

		 	  
 7
	  	  

GFAH
  
 AGP
  
 GF New Holdings

 
	  	  
 GFAH purchases from AGP its holdings of ordinary and redeemable preference shares in GF New Holdings (acquired under Restructure Step 6). As consideration, GFAH provides consideration in the form of a note/loan
(Note 5) and AGP may make an additional capital contribution to GFAH.

		 	  
 8
	  	  

AGP
  
 Brookfield
  
 Genworth Australia

 
	  	  
 AGP purchases from Brookfield its holding of shares in Genworth Australia.

		 	  
 9
	  	  

Genworth Australia
  
 GFAH
	  	  
 AGP transfers its interest in GFAH and Note 1 to Genworth Australia. As consideration, Genworth Australia will issue shares to AGP and may provide consideration in the form of a note/loan (Note
6).
  

		 	  
 10
	  	  

Genworth Australia
	  	  
 Initial Public Offering
  

		 	  
 11
	  	  

Genworth Australia
	  	  
 Genworth Australia applies the proceeds raised under the Initial Public Offering (net fees payable to the Joint Lead Managers in accordance with the Offer Management

  
 Master
Agreement            page 29 

 

 
  

							
		 	 	  	 GFAH

 
 AGP
	  	 Agreement) to make an
additional capital contribution to GFAH and repay Note 6 (if any) held by AGP.
  
 GFAH
uses the additional capital to repay Note 5 owing to AGP.
  
  

		 	  
 12  
	  	  

AGP
  
 Brookfield
	  	  
 AGP uses the proceeds of the repayment in Restructure Step 11, as well as any cash returned for repurchase of shares in Genworth Australia for the “greenshoe”, to repay Note 4 owing to Brookfield and
makes partnership distributions of any excess proceeds to Brookfield.
  

  
 Master
Agreement            page 30 

 

 
  

 Signing page 

 

			
		  	 Executed as an agreement
  

		  	  

  
  

							
		 	 SIGNED for Genworth Financial, Inc.

by its duly authorised officer, in the presence of:
	 		 	 
		 		 		 	/s/ Kevin D. Schneider
		 		 		 	  

		 		 		 	Signature of officer
				
	 	 	/s/ Richard J. Oelhafen, Jr.	 		 	KEVIN D. SCHNEIDER
		 	  
	 		 	  

		 	Signature of witness	 		 	Name
				
	 	 	RICHARD J. OELHAFEN, JR.	 		 	 
		 	  
	 		 	
		 	Name	 		 	
				
		 	EXECUTED by Genworth Mortgage Insurance Australia Limited ACN 154 890 730:	 		 	 
				
	 	 	/s/ Ellen Comerford	 		 	/s/ Richard Grellman
		 	  
	 		 	  

		 	Signature of director	 		 	Signature of director/secretary
				
	 	 	ELLEN COMERFORD	 		 	RICHARD GRELLMAN
		 	  
	 		 	  

		 	Name	 		 	Name

  
 Master
Agreement            page 31EX-10.2

 Exhibit 10.2 
  

 
  
 Agreement 

 

	
	Project Rome

  
  

					
	 Shareholder Agreement    

 
	 		  	
	  
  

Genworth Mortgage Insurance Australia Limited
  

Brookfield Life Assurance Company Limited
  

Genworth Financial International Holdings, Inc.
  

Genworth Financial, Inc.
	 		  	

 

 
  

	
	Contents

  

											
		 		 	Table of contents  
	  	 	 	 
		 		 	  
 Operative part
	  	 	3	  
				
		 	 1
	 	Definitions and interpretation	  	 	3	  
					
		 		 	1.1	  	Definitions	  	 	3	  
		 		 	1.2	  	Interpretation	  	 	8	  
				
		 	 2
	 	Corporate Governance	  	 	9	  
					
		 		 	2.1	  	Genworth Financial approval rights	  	 	9	  
		 		 	2.2	  	Director nomination rights	  	 	10	  
		 		 	2.3	  	Board committees	  	 	12	  
		 		 	2.4	  	Genworth Financial Designee rights to communicate information to Genworth Financial	  	 	12	  
				
		 	 3
	 	Financial and other information	  	 	13	  
					
		 		 	3.1	  	Annual and quarterly financial information	  	 	13	  
		 		 	3.2	  	Tax information	  	 	14	  
		 		 	3.3	  	Operating reviews	  	 	14	  
		 		 	3.4	  	General requirements	  	 	14	  
		 		 	3.5	  	Additional requirements	  	 	15	  
		 		 	3.6	  	Support and assistance for further Sell-Down or Holding Restructuring	  	 	17	  
		 		 	3.7	  	Assistance in connection with enquiry or proceedings about Initial Public Offering, Sell-Down or Holding Restructuring	  	 	18	  
		 		 	3.8	  	Fifty percent threshold	  	 	18	  
		 		 	3.9	  	Auditor consultation	  	 	21	  
		 		 	3.10	  	Disclosure of information	  	 	21	  
		 		 	3.11	  	Costs	  	 	21	  
		 		 	3.12	  	Privilege	  	 	21	  
				
		 	 4
	 	Restrictive covenants and employee matters	  	 	22	  
					
		 		 	4.1	  	Non-competition	  	 	22	  
		 		 	4.2	  	Non-solicitation	  	 	23	  
		 		 	4.3	  	Employee matters	  	 	24	  
		 		 	4.4	  	Reasonableness of covenants	  	 	24	  
				
		 	 5
	 	Indemnification, dispute resolution and expenses	  	 	24	  
					
		 		 	5.1	  	Indemnification	  	 	24	  
		 		 	5.2	  	Dispute resolution	  	 	24	  
		 		 	5.3	  	Expenses	  	 	24	  
				
		 	 6
	 	Termination	  	 	25	  
					
		 		 	6.1	  	Termination	  	 	25	  
		 		 	6.2	  	Survival	  	 	25	  
				
		 	 7
	 	General provisions	  	 	25	  
					
		 		 	7.1	  	Governing law	  	 	25	  
		 		 	7.2	  	Co-operation	  	 	25	  
		 		 	7.3	  	Notices	  	 	25	  
		 		 	7.4	  	Severability	  	 	26	  

  
 Shareholder
agreement            Contents 1 

 

 
  

	
	Contents

  

  

													
		 		 	 	7.5	  	  	Entire agreement	  	 	26	  
		 		 	 	7.6	  	  	Assignment; no third-party beneficiaries	  	 	27	  
		 		 	 	7.7	  	  	Amendment; waiver	  	 	27	  
		 		 	 	7.8	  	  	Currency	  	 	27	  
		 		 	 	7.9	  	  	Counterparts	  	 	27	  
				
		 		 	 	Schedules	  			
				
		 		 	 	Financial data and other information	  	 	29	  
				
		 		 	 	Employee matters	  	 	40	  
				
		 		 	 	ROFR Terms	  	 	42	  
				
		 		 	 	Genworth Financial Jurisdictions and Lines of Business	  	 	44	  
				
		 		 	 	Signing page	  	 	46	  

  
 Shareholder
agreement            Contents 2 

  
 

 
  

							
		 	 Shareholder Agreement
  

		 	  
 Date u 21 May 2014
  

 
  

		 	 Between the parties

 
	 	 	  	 
			
		 	 	 	 Genworth Mortgage Insurance Australia Limited

 
 ACN 154 890 730
  

(Genworth Australia)
  

			
		 	 	 	 Brookfield Life Assurance Company Limited

 
 a corporation existing under the laws of Bermuda

 
 (Brookfield)
  

			
		 	 	 	 Genworth Financial International Holdings, Inc.

 
 a corporation existing under the laws of Delaware

 
 (GFIH)
  

			
		 	 	 	 Genworth Financial, Inc.

 
 a corporation existing under the laws of the State of Delaware

 
 (Genworth Financial)

 

				
		 	Recitals	 	 1
	  	 Genworth Australia has undertaken an initial public offering (the Initial Public Offering) of its ordinary shares pursuant to a prospectus
filed with the Australian Securities and Investments Commission (ASIC).
  

		 		 	 2
	  	 In connection with the Initial Public Offering, Genworth Financial and Genworth Australia have entered into a Master Agreement, dated
23 April 2014 (the Master Agreement). 
  

		 	 	 	3	  	 Genworth Australia, Genworth Financial, Brookfield and GFIH have entered into this Agreement to set out
certain key provisions relating to the provision of information and certain of their respective rights, duties and obligations following completion of the Initial Public Offering (the Closing).

 

		 	  
 in consideration of the
foregoing and the mutual agreements contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the

 

  
 Shareholder
agreement            page 1 

 

 
  

							
		 	  
 parties hereto hereby agree as follows:
  

 

  
 Shareholder
agreement            page 2 

 

 
  

 Operative part 

 

							
	1	 	 Definitions and interpretation

 

		
	1.1	 	Definitions
		
		 	 The meanings of the terms used in this Agreement are set out below.

 

	 	 	 Term

 
	 	  

Meaning
  

			
		 	 Acquiring Party

 
	 	 has the meaning given to it in clause 4.1(d).

 

			
		 	Affiliate	 	 (and, with a correlative meaning, ‘affiliated’), with respect to any Person, any
direct or indirect subsidiary of such Person, and any other Person that directly, or through one or more intermediaries, controls or is controlled by or is under common control with such first Person; provided, however, that, for the sole purpose of
defining the benefits and obligations of the parties pursuant to this Agreement and the other IPO Agreements, and without affecting or intending to affect in any way the definition or characterisation, for any purpose, of the parties’
relationship at law or with respect to any third party (including, without limitation, pursuant to any Vendor Agreement), from and after the Closing Date, each of Genworth Australia and its direct and indirect Subsidiaries shall be deemed not to be
an Affiliate of Genworth Financial or any of its direct and indirect Subsidiaries (other than Genworth Australia and its direct and indirect Subsidiaries), and vice versa. As used in this definition, ‘control’ (including with
correlative meanings, ‘controlled by’ and ‘under common control with’) means possession, directly or indirectly, of power to direct or cause the direction of management or policies or the power to appoint and remove a majority of
directors (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise).
  

		 	  
 Applicable Law
	 	  
 with respect to any Person, property, transaction, event or
other matter:

		 		 	  
 1
	 	  
 any foreign or domestic constitution, treaty, law, statute, regulation, code,
ordinance, principle of common law or equity, rule, municipal by-law, Order or other requirement having the force of law;

		 	 	 	  
 2
	 	  
 any policy, practice, protocol,
standard or guideline of any Governmental Authority which, although not necessarily having the force of law, is regarded by such Governmental Authority as requiring compliance as if it had the force of law (collectively, the Law) relating or
applicable to such Person, property, transaction, event or other matter and also includes, where appropriate, any interpretation of the Law (or any part thereof) by any Person having jurisdiction over it, or charged with its administration or
interpretation.
  

  
 Shareholder
agreement            page 3 

					
	

	  	1    Definitions and interpretation	 	

  

  

					
	 	 	 Term

 
	  	 Meaning

 

			
		 	Applicable GNW Shareholder	  	 at any time with respect to any Ordinary Shares, a member of the Genworth Financial Group that is the
holder of such share or shares, which shall initially be Shareholderco in the case of the Ordinary Shares deemed to be beneficially owned by Genworth Financial pursuant to this Agreement.

 

			
		 	APRA	  	 Australian Prudential Regulation Authority

 

			
		 	ASIC	  	 has the meaning given to it in Recital 1.

 

			
		 	ASX	  	 Australian Securities Exchange Limited.

 

			
		 	Australian GAAP	  	 generally accepted accounting principles in Australia, as in effect from time to time, including, for
greater certainty, International Financial Reporting Standards from and after such time as, and to the extent that, they are applicable in Australia.

 

			
		 	Board	  	 the board of directors of Genworth Australia from time to time.

 

			
		 	Business Day	  	 a day on which banks are open for business in Sydney, New South Wales or New York, NY, other than a
Saturday, Sunday or public holiday in those cities. Any event the scheduled occurrence of which would fall on a day that is not a Business Day shall be deferred until the next succeeding Business Day.

 

			
		 	Business Lines	  	 the Genworth Financial Business Lines and the Genworth Australia Business Lines.

 

			
		 	Business Plan	  	 has the meaning given to it in clause 2.1(a).

 

			
		 	Closing	  	 has the meaning given to it in Recital 3.

 

			
		 	Closing Date	  	 the date on which the Closing takes place.

 

			
		 	Competitive Business	  	 has the meaning given to it in clause 4.1(d).

 

			
		 	Corporations Act	  	 the Australian Corporations Act 2001 (Cth), as amended from time to time

 

  
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	  	 1    Definitions and interpretation
	 	

  

									
				
	 	 	 Term

 
	 	 Meaning
  
	  	 
		 	  
 Genworth Australia

Auditors
  
	 	  
 has the meaning given to
it in clause 3.5(b).
	  	
		 	  
 Genworth Australia

Business Line
  
	 	  
 has the meaning given to
it in clause 4.1(a).
	  	
		 	  
 Genworth Australia

Information
  
	 	  
 has the meaning given to
it in clause 3.5(d).
	  	
		 	  
 Genworth Financial

Auditors
  
	 	  
 has the meaning given to
it in clause 3.5(a).
	  	
		 	  
 Genworth Financial

Business Line
  
	 	  
 has the meaning given to
it in clause 4.1(b).
	  	
		 	  
 Genworth Financial

Designee
  
	 	  
 a director of Genworth
Australia designated by the member of the Genworth Financial Group for the purposes of clause 2.2.
	  	
		 	  
 Genworth Financial

Group
	 	  
 collectively, Genworth
Financial and all of its direct and indirect Subsidiaries now or hereafter existing, other than Genworth Australia and its direct and indirect Subsidiaries.

 
	  	
		 	  
 Governmental
 Authority
	 	  
 1
	  	  
 any domestic or foreign government, whether national, federal, provincial,
state, territorial, municipal or local (whether administrative, legislative, executive or otherwise);
	  	
		 		 	  
 2
	  	  
 any agency, authority, ministry, department, regulatory body, court, central
bank, bureau, board or other instrumentality having legislative, judicial, taxing, regulatory, prosecutorial or administrative powers or functions of, or pertaining to, government (including the Australian Prudential Regulation
Authority);
	  	
		 		 	  
 3
	  	  
 any court, commission, individual, arbitrator, arbitration panel or other
body having adjudicative, regulatory, judicial, quasi-judicial, administrative or similar functions; and
	  	
		 	 	 	  
 4
	  	  
 any other body or entity created
under the authority of or otherwise subject to the jurisdiction of any of the foregoing, including any stock or other securities exchange or professional association.

 
	  	
		 	  
 Holding
Restructuring
  
	 	  
 has the meaning given to
it in clause 3.6(a)
  
	  	

  
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	  	1    Definitions and interpretation 	 	

  

									
				
	 	 	 Term

 
	 	 Meaning
  
	  	 
		 	  
 IT Services
Agreement
  
	 	  
 has the meaning given to
it in the Master Agreement.
	  	
		 	  
 Initial Public
Offering
  
	 	  
 has the meaning given to
it in Recital 1.
	  	
		 	  
 Master Agreement

 
	 	  
 has the meaning given to
it in Recital 2.
	  	
		 	  
 MD&A
	 	  
 has the meaning given to
it in clause 3.1(b).
  
	  	
		 	  
 Non-Acquiring
Party
  
	 	  
 has the meaning given to
it in clause 4.1(d).
	  	
		 	  
 Official List
	 	  
 has the meaning given to
the term “official list” in the listing rules of the Australian Securities Exchange or such other body corporate that is declared by the directors to be Genworth Australia’s primary stock exchange for the purposes of this
definition.
  
	  	
		 	  
 Order
	 	  
 any order, directive,
judgment, decree, injunction, decision, ruling, award or writ of any Governmental Authority.
  
	  	
		 	  
 Ordinary
Shares
	 	  
 the ordinary shares in
the capital of Genworth Australia or such other shares or other securities into which such ordinary shares are converted, exchanged, reclassified or otherwise changed from time to time.

 
	  	
		 	  
 Outstanding Ordinary
Shares
  
	 	  
 at any time, the number
of Ordinary Shares issued and outstanding at the relevant time as reflected on the share register of Genworth Australia.
  
	  	
		 	  
 Person
	 	  
 any individual,
corporation, company, partnership, firm, joint venture, association, joint-stock company, trust, unincorporated organization, Governmental Authority or other entity.

 
	  	
		 	  
 Privilege

 
	 	  
 has the meaning given to
it in clause 3.12.
	  	
		 	  
 Potential
Transaction
  
	 	  
 has the meaning given to
it in clause 3.6(e).
  
	  	
		 	  
 Relevant Interest

 
	 	  
 has the meaning given to
it in the Corporations Act.
	  	

  
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	  	1    Definitions and interpretation	 	

  

									
			
	 	 	 Term

 
	 	 Meaning
  

			
		 	 Restricted Period
  
	 	has the meaning given to it in clause 4.1(a).
			
		 	 ROFR

 
	 	has the meaning given to it in clause 4.1(d)(2).
			
		 	 SEC

 
	 	the United States Securities and Exchange Commission.
			
		 	 Sell-Down

 
	 	has the meaning given to it in clause 3.6(a)
			
		 	Share Incentive Plan	 	 any plan of Genworth Australia in effect from time to time pursuant to which Ordinary Shares
may be issued, or options or other securities convertible or exercisable into or exchangeable for Ordinary Shares may be granted, to directors, officers and/or employees of, and/or consultants to, Genworth Australia and/or its
subsidiaries.
  

			
		 	 Shared Services Agreement
  
	 	has the meaning given to it in the Master Agreement.
			
		 	Shareholderco	 	 Genworth Australian General Partnership, to be established under a partnership deed in
accordance with Step 4 of the Restructure Steps (as defined in the Master Agreement) between Brookfield and GFIH, as amended from time to time.

 

			
		 	Subsidiary or subsidiary	 	 with respect to any Person, any corporation, limited liability company, joint venture or partnership of which such
Person

				
		 		 	1	 	beneficially owns, either directly or indirectly, more than 50% of:
					
		 		 		 	•	 	the total combined voting power of all classes of voting securities of such entity;
					
		 		 		 	•	 	the total combined equity interests; or
					
		 		 		 	•	 	the capital or profit interests, in the case of a partnership; or
				
		 	 	 	2	 	 otherwise has the power to vote, either directly or indirectly, sufficient securities to elect
a majority of the board of directors or similar governing body.
  

			
		 	Transaction	 	 has the meaning given to it in clause 4.1(d).

 

			
		 	Trigger Date	 	 the first date on which members of the Genworth Financial Group do not have a Relevant
Interest in aggregate in 50% or more of the outstanding Ordinary Shares.
  

  
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	  	1    Definitions and interpretation	 	

  

					
			
	 	 	 Term

 
	  	 Meaning

 

			
		 	US GAAP	  	 generally accepted accounting principles in the United States, including specific requests or requirements
of the SEC, as in effect from time to time, including, for greater certainty, International Financial Reporting Standards from and after such time as, and to the extent that, they become applicable in the United States.

 

			
		 	 Vendor Agreement

 
	  	 has the meaning given to it in the Shared Services Agreement.

 

			
	 1.2       
	 	Interpretation	  	

 In this Agreement: 

 

	 	(a)	Headings and bold type are for convenience only and do not affect the interpretation of this Agreement. 	 

  

	 	(b)	The singular includes the plural and the plural includes the singular. 	 

  

	 	(c)	Words of any gender include all genders. 	 

  

	 	(d)	The word ‘including’ and words of similar import shall mean ‘including, without limitation,’. 	 

  

	 	(e)	Other parts of speech and grammatical forms of a word or phrase defined in this Agreement have a corresponding meaning. 	 

  

	 	(f)	An expression importing a person includes any company, partnership, joint venture, association, corporation or other body corporate and any Government Authority as well as an
individual. 	 

  

	 	(g)	A reference to a clause, party, schedule, attachment or exhibit is a reference to a clause of, and a party, schedule, attachment or exhibit to, this Agreement. 	 

  

	 	(h)	A reference to any legislation includes all delegated legislation made under it and amendments, consolidations, replacements or
re-enactments of any of them. 	 

  

	 	(i)	A reference to a document includes all amendments or supplements to, or replacements or novations of, that document. 	 

  

	 	(j)	A reference to a party to a document includes that party’s successors and permitted assignees. 	 

  

	 	(k)	No provision of this Agreement will be construed adversely to a party because that party was responsible for the preparation of this Agreement or that provision. 	 

  

	 	(l)	A reference to a body, other than a party to this Agreement (including an institute, association or authority), whether statutory or not: 	 

  

	 	(1)	which ceases to exist; or 	 

  

	 	(2)	whose powers or functions are transferred to another body, 	 

 is a reference to the body which replaces it or which substantially
succeeds to its powers or functions. 

  
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	  	2    Corporate Governance	 	

  

	 	(m)	Unless specifically stated in the Master Agreement that a particular provision of the Master Agreement should be given effect in lieu of a conflicting provision in this
Agreement, to the extent that any provision contained in this Agreement conflicts with, or cannot logically be read in accordance with, any provision of the Master Agreement, the provision contained in this Agreement shall prevail. 	 

  

	 	(n)	Where, in this Agreement, the rights of Genworth Financial are dependent upon the members of the Genworth Financial Group holding an aggregate Relevant Interest in a particular
percentage of Ordinary Shares (Applicable Threshold): 	 

  

	 	(1)	the aggregate Relevant Interest in the Outstanding Ordinary Shares held by the members of the Genworth Financial Group shall only be taken to be less than or not less than (as
the case may be) the Applicable Threshold if that aggregate Relevant Interest is less than or not less than (as the case may be) the Applicable Threshold for a period of at least 90 consecutive days; and 	 

  

	 	(2)	if that aggregate Relevant Interest falls below and remains below the Applicable Threshold for a period of at least 90 consecutive days, then the “first date” on which
members of the Genworth Financial Group are taken to hold an aggregate Relevant Interest that is less than or not less than (as the case may be) the Applicable Threshold shall be the first day after the expiry of that 90 consecutive days period.
	 

  

			
	 2

 
	 	 Corporate Governance

 

	  
 2.1
	 	  
 Genworth Financial approval rights

  

	 	(a)	From the date of this Agreement until the first date on which members of the Genworth Financial Group do not have a Relevant Interest in aggregate in 50% or more of the
outstanding Ordinary Shares, Genworth Australia shall not (either directly or indirectly through a Subsidiary) take any of the following actions without the prior written consent of Genworth Financial, except if and to the extent that such action is
required by Applicable Law: 	 

  

	 	(1)	adopt any plan or proposal for a complete or partial liquidation, dissolution or winding up of Genworth Australia or any of its Subsidiaries or commence any case, proceeding or
action seeking relief under any existing or future laws relating to bankruptcy, insolvency or relief of debtors; 	 

  

	 	(2)	buyback any of its Ordinary Shares, reduce or re-organise its capital or the capital of any of its Subsidiaries; 	 

  

	 	(3)	make any reductions in Genworth Australia’s policy with respect to the declaration and payment of any dividends on any Ordinary Shares; 	 

  

	 	(4)	approve the annual business plan of Genworth Australia and its Subsidiaries on a consolidated basis (Business Plan) and any material amendments to, or any material
departure from, such Business Plan, which Business Plan shall be provided to Genworth Financial for approval reasonably in advance of adoption consistent with the annual operating cycle for Genworth Financial and its Subsidiaries and shall include
any proposed geographical or product expansion plans; 	 

  

	 	(5)	enter into any agreement to: 	 

  
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	  	2    Corporate Governance	 	

  

	 	(A)	complete an asset acquisition or business combination; or 	 

  

	 	(B)	sell or dispose of assets, 	 

  

	 	    	involving the payment or receipt of consideration equal to or greater than $25 million, other than any agreement relating to acquisition or disposal of investment assets made in
the ordinary course of business by Genworth Australia (or any Subsidiary) which is consistent with the investment policy approved by the board of directors of the relevant company; 	 

  

	 	(6)	appoint or remove any Chief Executive Officer; or 	 

  

	 	(7)	issue Ordinary Shares or other equity securities or securities convertible into or exercisable or exchangeable for Ordinary Shares or other equity securities of Genworth
Australia, other than pursuant to: 	 

  

	 	(A)	a rights issue or other equity raising where Genworth Financial is otherwise entitled to subscribe for its pro rata portion of the offer; or 	 

  

	 	(B)	a Share Incentive Plan that has been unanimously approved by the Board; or 	 

  

	 	(8)	issue new debt or incur or enter into new borrowings or indebtedness or guarantees in respect of any borrowings or indebtedness. 	 

  

	 	(b)	For the avoidance of doubt, nothing in this clause affects Genworth Financial’s right to vote or direct the voting of its Ordinary Shares in the way in which it sees fit.
	 

  

	2.2	Director nomination rights 	 

  

	 	(a)	From the date of this Agreement until the first date on which members of the Genworth Financial Group do not have a Relevant Interest in aggregate in 50% or more of the
outstanding Ordinary Shares, the Applicable GNW Shareholder(s) holding Ordinary Shares shall be entitled to designate a number of persons as directors equal to 5/9 of the total number of directors (rounded to the nearest whole number) comprising the
Board. 	 

  

	 	(b)	From the first date on which members of the Genworth Financial Group have a Relevant Interest in aggregate in less than 50% but not less than 40% of the Outstanding Ordinary
Shares until the first date thereafter on which members of the Genworth Financial Group have a Relevant Interest in aggregate in less than 40% of the outstanding Ordinary Shares, the Applicable GNW Shareholder(s) holding Ordinary Shares shall be
entitled to designate a number of persons as directors equal to 4/9 of the total number of directors (rounded to the nearest whole number) comprising the Board. 	 

  

	 	(c)	From the first date on which members of the Genworth Financial Group have a Relevant Interest in aggregate in less than 40% but not less than 30% of the Outstanding Ordinary
Shares until the first date thereafter on which members of the Genworth Financial Group have a Relevant Interest in aggregate in less than 30% of the outstanding Ordinary Shares, the Applicable GNW Shareholder(s) holding Ordinary Shares shall be
entitled to designate a number of persons as directors equal to 3/9 of the total number of directors (rounded to the nearest whole number) comprising the Board. 	 

  

	 	(d)	 From the first date on which members of the Genworth Financial Group have a Relevant Interest in aggregate in less than 30% but not less than 20% of the
Outstanding Ordinary Shares until the first date thereafter on which members of 
	 

  
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	  	2    Corporate Governance	 	

  

	 	
the Genworth Financial Group have a Relevant Interest in aggregate in less than 20% of the outstanding Ordinary Shares, the Applicable GNW Shareholder(s) holding Ordinary Shares shall be entitled
to designate a number of persons as directors equal to 2/9 of the total number of directors (rounded to the nearest whole number) comprising the Board. 	 

  

	 	(e)	From the first date on which members of the Genworth Financial Group have a Relevant Interest in aggregate in less than 20% but not less than 10% of the Outstanding Ordinary
Shares until the first date thereafter on which members of the Genworth Financial Group have a Relevant Interest in aggregate in less than 10% of the outstanding Ordinary Shares, the Applicable GNW Shareholder(s) holding Ordinary Shares shall be
entitled to designate a number of persons as directors equal to 1/9 of the total number of directors (rounded to the nearest whole number) comprising the Board. 	 

  

	 	(f)	The Applicable GNW Shareholder(s) may remove any person which it has designated under this clause 2.2 (Genworth Financial Designee) at any time and in circumstances
where a Genworth Financial Designee is due to retire by rotation, propose a new designee under this clause 2.2 (provided the requirements of this clause 2.2 continue to apply at the time of the proposed new designation). 	 

  

	 	(g)	The designation of a Genworth Financial Designee or the removal of a Genworth Financial Designee shall be effected by written notice to Genworth Australia signed by, where there
is one Applicable GNW Shareholder, an authorised officer of the Applicable GNW Shareholder, or where there is more than one Applicable GNW Shareholder, an authorised officer of each Applicable GNW Shareholder. 	 

  

	 	(h)	The Applicable GNW Shareholder(s) may not designate a person as a Genworth Financial Designee if that person has been removed or, being a director retiring by rotation, is not
re-elected, by shareholder resolution. 	 

  

	 	(i)	Where Genworth Australia receives a notice of designation under clause 2.2(g) (other than in circumstances where the notice specifies that the person designated will replace
a Genworth Financial Designee who is due to retire by rotation but is not standing for re-election at the next annual general meeting), subject to the approval of the designee by the relevant committee of the board or the directors (as applicable)
of Genworth Australia, acting reasonably, the directors shall appoint the Genworth Financial Designee as a director to fill a casual vacancy (unless the directors reasonably believe that they would be in a breach of Applicable Law or their fiduciary
or statutory duties as directors if they made such an appointment). Where Genworth Australia receives a notice of removal under clause 2.2(g) (other than in circumstances where the notice specifies that a Genworth Financial Designee is due to
retire by rotation but is not standing for re-election at the next annual general meeting), the Genworth Financial Designee named in the notice must resign his or her position as a director forthwith and Genworth Australia must ensure this occurs.
	 

  

	 	(j)	Where Genworth Australia receives a notice under clause 2.2(g) and such notice specifies that the named Genworth Financial Designee will retire by rotation at the next
annual general meeting and will not stand for re-election but will be replaced by another person designated in the notice: 	 

  

	 	(1)	subject to the approval of the designee by the relevant committee of the board or the directors (as applicable) of Genworth Australia, acting reasonably, Genworth Australia shall
procure that a resolution is included in the notice of meeting for the next annual general meeting to elect the person specified in the notice to the board of Genworth Australia; and 	 

  
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	  	2    Corporate Governance	 	

  

	 	(2)	the Genworth Financial Designee named in the notice must retire as a director effective as at the date of the next annual general meeting and not stand for re-election and
Genworth Australia must ensure this occurs. 	 

  

	 	(k)	Any director appointed to fill a casual vacancy under this clause 2.2 after Genworth Australia is admitted to the Official List must retire from office at, and will be
eligible for re-election at, the next annual general meeting following his or her appointment. 	 

  

	 	(l)	If a Genworth Financial Designee is removed, retires and fails to be re-elected by resolution of shareholders or ceases to hold office as a director for any reason (other than
where the director retires and is re-elected at the same meeting), the Applicable GNW Shareholder(s) may designate another Genworth Financial Designee in that person’s place to fill a casual vacancy. 	 

  

	 	(m)	Any Genworth Financial Designee who is either appointed by the board of directors or elected by shareholders will be taken to have been appointed or elected to represent the
interests of the Genworth Financial Group. 	 

  

	 	(n)	The Applicable GNW Shareholder(s) may only designate a person as a director under clause 2.2, if that such person is not disqualified to act as a director of Genworth Australia
under, any Applicable Law. 	 

  

	 	(o)	If the aggregate Relevant Interest of the members of the Genworth Financial Group falls below an Applicable Threshold set out in this clause 2.2, on the first date that the
members of the Genworth Financial Group hold an aggregate Relevant Interest of less than the Applicable Threshold, the Applicable GNW Shareholders(s) shall procure that the number of Genworth Financial Designees is reduced to the number of persons
that they are entitled to designate as directors as corresponds with the relevant Applicable Threshold. The Applicable GNW Shareholder(s) may, at their election, effect such a reduction in the number of Genworth Financial Designees by either:
	 

  

	 	(1)	removing a Genworth Financial Designee in accordance with clause 2.2(f); or 	 

  

	 	(2)	providing written notice to Genworth Australia, signed by, where there is one Applicable GNW Shareholder, an authorised officer of the Applicable GNW Shareholder, or where there
is more than one Applicable GNW Shareholder, an authorised officer of each Applicable GNW Shareholder, stating that one of the persons designated by it or them as a director (who is either an independent director or a member of Genworth
Australia’s senior management team) has ceased to be a Genworth Financial Designee. 	 

  

	2.3	Board committees 	 

 From the date of this Agreement until the
first date on which members of the Genworth Financial Group do not have a Relevant Interest in aggregate in
33 1/3% or more of the outstanding Ordinary Shares, Genworth Financial shall have the right to designate one member of each committee established by the Board. 

 

	2.4	Genworth Financial Designee rights to communicate information to Genworth Financial 	 

 A Genworth Financial Designee may communicate or otherwise disclose
to a member of the Genworth Financial Group information received by them in their capacity as a director of Genworth Australia provided that they do so only to the extent permitted by Applicable

  
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	  	3    Financial and other information	 	

  

 
Laws and in accordance with the rules and regulations of the relevant stock exchange(s). Where any Genworth Financial Designee is permitted to do so and does communicate or disclose such
information to a member of the Genworth Financial Group, that information shall be subject to: 
  

	 	(a)	the confidentiality undertakings on the part of Genworth Financial under clause 4 of the Master Agreement; and 	 

  

	 	(b)	any other confidentiality obligation applicable to directors of Genworth Australia under relevant board policies. 	 

  

			
	3	 	 Financial and other information
  

	  

3.1       
	 	  
 Annual and quarterly financial information

  

	 	(a)	Genworth Australia agrees that, with respect to any fiscal quarter or fiscal year (or, where relevant, such other fiscal period as identified in Schedule 1 in relation to
particular financial data or other information) during which members of the Genworth Financial Group have a Relevant Interest in aggregate in 20% or more of the outstanding Ordinary Shares, Genworth Australia shall deliver to Genworth Financial the
financial data and other information set out in Schedule 1 for such fiscal period. Genworth Australia shall deliver such financial data and other information within such reasonable time periods as are specified by Genworth Financial, together with a
certificate of the Chief Executive Officer and Chief Financial Officer of Genworth Australia certifying the completeness and accuracy of such information. 	 

  

	 	(b)	All financial data delivered to Genworth Financial hereunder shall be prepared in accordance with US GAAP and applicable SEC financial reporting requirements and shall be
consistent with the level of detail provided in comparable financial data furnished by Genworth Australia or its Subsidiaries prior to the Closing Date. All annual and quarterly consolidated financial statements of Genworth Australia and its
Subsidiaries shall set out in each case in comparative form the consolidated figures for the previous fiscal year or the equivalent quarter and year-to-date period in the previous fiscal year, as applicable, shall be prepared in accordance with
US GAAP and applicable SEC financial reporting requirements and shall be consistent with the level of detail provided in comparable financial statements furnished by Genworth Australia or its Subsidiaries prior to the Closing Date. The
financial data and other information provided hereunder shall include management’s discussion and analysis and all statistical information necessary for inclusion in any Genworth Financial earnings press release or any financial statements,
management’s discussion and analysis of financial condition and results of operations (MD&A) or other public filing required to be made by Genworth Financial, along with appropriate supporting documentation. 	 

  

	 	(c)	 Genworth Australia agrees that, from the date of this Agreement until the first date on which members of the Genworth Financial Group do not have a Relevant
Interest in 20% or more of the outstanding Ordinary Shares, Genworth Australia shall deliver to Genworth Financial, on or before the third day, to the extent reasonably practicable, but in no event later than the day prior to the day Genworth
Australia publicly files its Annual Report and annual and half-yearly financial statements with ASX, the final form of its Annual Report and annual, and half-yearly financial statements, as applicable, together with all certifications required by
Applicable Law and, in the case of audited annual 
	 

  
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	  	3    Financial and other information	 	

  

	 	
financial statements, an opinion on the audited annual financial statements by Genworth Australia’s independent certified public accountants. 	 

  

	 	(d)	Genworth Financial acknowledges that information provided to it by Genworth Australia under the requirements of this Agreement may (depending on the circumstances) need to be
released to ASX by Genworth Australia in accordance with its continuous disclosure obligations. 	 

  

	3.2	Tax information 	 

  

	 	(a)	Genworth Australia agrees that, with respect to any taxation period during which members of the Genworth Financial Group have a Relevant Interest in not less than 10% of the
outstanding Ordinary Shares, Genworth Australia shall deliver to Genworth Financial the tax data and other information reasonably required by Genworth Financial to prepare and file its tax returns, as referenced on Schedule 1 for such period.
Genworth Australia shall deliver such tax data and other information within such reasonable time periods as are specified by Genworth Financial, and will promptly notify Genworth Financial of any changes in the information previously provided,
particularly changes resulting from filing amended tax returns or examinations by any Governmental Authority. In addition, Genworth Australia will retain documentation necessary to support the information furnished under Schedule 1 for at least
5 years following the calendar year to which the information requested relates, or such longer time as Genworth Financial reasonably requests. 	 

  

	3.3	Operating reviews 	 

  

	 	(a)	Genworth Australia agrees that, from the date of this Agreement until the first date on which members of the Genworth Financial Group do not have a Relevant Interest in aggregate
in 20% or more of the outstanding Ordinary Shares, Genworth Australia shall deliver to Genworth Financial the financial, risk and other information, reports and plans set forth on Schedule 1 in respect of each fiscal quarter or fiscal year, as
applicable, within such reasonable time periods as are specified by Genworth Financial. Genworth Australia shall provide Genworth Financial with an opportunity to meet with management of Genworth Australia to discuss such information, reports and
plans upon reasonable notice. 	 

  

	3.4	General requirements 	 

  

	 	(a)	The parties acknowledge and agree that financial reporting requirements and prudent risk management practices and procedures will change over time. Accordingly, the parties agree
that all information provided by Genworth Australia or any of its Subsidiaries to Genworth Financial pursuant to this clause 3 shall be consistent in terms of format and detail and otherwise with the procedures and practices in effect prior to
the Closing Date with respect to the provision of such financial and other information by Genworth Australia or its Subsidiaries to Genworth Financial (and where appropriate, as presently presented in financial and other reports delivered to the
board of directors of Genworth Financial), with such changes therein as may be reasonably requested by Genworth Financial from time to time, including any changes resulting from changes in accounting procedures, processes, methodologies or practices
that are required in order to comply with Applicable Law, including the rules, regulations and requirements of the SEC, as applicable. 	 

  
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	  	 3    Financial and other information
	 	

  

	3.5	Additional requirements 	 

 Genworth Australia agrees that, with respect to any financial year
during which, members of the Genworth Financial Group have a Relevant Interest in aggregate in 20% or more of the outstanding Ordinary Shares: 
  

	 	(a)	Cooperation. Genworth Australia will provide to Genworth Financial on a timely basis all information of Genworth Australia that Genworth Financial or any of its
Subsidiaries reasonably requires for the preparation, printing, filing, and public dissemination of any required public filing by Genworth Financial. Without limiting the generality of the foregoing, Genworth Australia will provide all required
financial information of Genworth Australia with respect to it and its consolidated Subsidiaries to Genworth Financial’s independent certified public accountants (Genworth Financial Auditors) and management in a sufficient and reasonable
time and in sufficient detail to permit such auditors to take all steps and perform all review necessary with respect to information to be included or contained in financial statements, MD&A and other public filings by Genworth Financial.
	 

  

	 	(b)	Coordination of auditors’ opinions. Genworth Australia will use its commercially reasonable efforts to enable its independent certified public accountants
(Genworth Australia Auditors) to complete their audit such that they will date their opinion on Genworth Australia’s audited annual financial statements on the same date that the Genworth Financial Auditors date their opinion on the
audited annual financial statements of Genworth Financial, and to enable Genworth Financial to meet its timetable for the printing, filing and public dissemination of the audited annual financial statements of Genworth Financial. 	 

  

	 	(c)	Coordination of auditors’ comfort letters and legal opinions. Genworth Australia will use its commercially reasonable efforts to co-ordinate the provision of any
comfort letters, review letters and opinion letters (or equivalent letters) from the Genworth Australia Auditors and any opinion letters from Australian legal counsel which are reasonably required by Genworth Financial, and will provide such other
assistance as may be reasonably required by Genworth Financial, in connection with any public or private offering of securities by Genworth Financial, provided that Genworth Financial must reimburse Genworth Australia for the amount of any third
party costs and expenses incurred by Genworth Australia or any of its Subsidiaries in connection thereto. 	 

  

	 	(d)	 Earnings releases. Genworth Financial agrees that, unless required by Applicable Law or unless Genworth Australia shall have consented thereto, no member
of the Genworth Financial Group will publicly release any quarterly, annual or other financial information of Genworth Australia or any of its Subsidiaries (Genworth Australia Information) delivered to Genworth Financial pursuant to this
clause 3 prior to the time that Genworth Financial publicly releases financial information of Genworth Financial for the relevant period. Genworth Financial will consult with Genworth Australia on the timing of their annual and quarterly
earnings releases and Genworth Financial and Genworth Australia will give each other an opportunity to review the information therein relating to Genworth Australia and its Subsidiaries and to comment thereon; provided that Genworth Financial shall,
subject to compliance by Genworth Australia with Applicable Law, have the sole right to determine the timing of all such releases if Genworth Financial and Genworth Australia disagree. Genworth Australia shall publicly release its financial results
for each annual, half yearly and, if Genworth Australia decides to release quarterly financial results, quarterly period concurrently with or immediately (and in any 
	 

  
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agreement            page 15 

					
	

	  	3    Financial and other information	 	

  

	 	
event shall be provided to ASX no later than four hours) following Genworth Financial’s release of its financial results for the corresponding period. If any member of the Genworth Financial
Group is required by Applicable Law to publicly release such Genworth Australia Information prior to the public release of Genworth Financial’s financial information, Genworth Financial will give Genworth Australia notice of such release of
Genworth Australia Information as soon as practicable but no later than two days prior to such release of Genworth Australia Information. 	 

  

	 	(e)	Meetings with financial analysts, investors or shareholders. Genworth Australia will consult with Genworth Financial in relation to, and will use all commercially
reasonable efforts to coordinate, appropriate timing of meetings to be held with any financial analyst or investor or shareholder in relation to Genworth Australia’s business. 	 

  

	 	(f)	Risk, capital and investment and compliance information 	 

  

	 	(1)	Risk, capital and investment reporting. Genworth Australia shall deliver to Genworth Financial the risk, risk management, capital and investment information set forth on
Schedule 1 as directed by Genworth Financial from time to time, with such information to be in accordance with the administrative and risk management practices, policies and processes (including with respect to content of information and timing) of
Genworth Financial in effect from time to time and communicated to Genworth Australia. 	 

  

	 	(2)	Compliance. Genworth Australia shall undertake the activities and deliver to Genworth Financial the compliance information set forth on Schedule 1 as directed by Genworth
Financial from time to time, with such activities and information to be in accordance with the administrative and compliance practices, policies and processes (including with respect to content of information and timing) of Genworth Financial in
effect from time to time and communicated to Genworth Australia. 	 

 However, Genworth Australia is not required to provide the
information set out in sub-clauses (1) and (2) above to the extent that it, or any Genworth Australia director, is prohibited from doing so by Applicable Law (including any conditions imposed by an officer of APRA on information or
documents disclosed by APRA to Genworth Australia under section 56(9) of the Australian Prudential Regulation Authority Act 1998 (Cth)), provided that Genworth Australia must promptly notify Genworth Financial if it, or any Genworth Australia
director, is prohibited from disclosing such information to Genworth Financial and use its reasonable endeavours to seek consent from the Governmental Authority or other relevant party to disclose such information to Genworth Financial. 

 

	 	(g)	Access to personnel and working papers. Genworth Australia will request the Genworth Australia Auditors to make available to the Genworth Financial Auditors both
the personnel who performed or are performing the annual audit of Genworth Australia and, consistent with customary professional practice and courtesy of such auditors with respect to the furnishing of work papers, work papers related to the annual
audit of Genworth Australia, in all cases within a reasonable time, so that the Genworth Financial Auditors are able to perform the procedures they consider necessary to take responsibility for the work of the Genworth Australia Auditors as it
relates to the Genworth Financial Auditors’ report on the audited annual financial statements of Genworth Financial, all within sufficient time to enable Genworth Financial to meet its timetable for the printing, filing and public dissemination
of the annual financial results of Genworth Financial. 	 

  
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agreement            page 16 

					
	

	  	 3    Financial and other information
	 	

  

	3.6	Support and assistance for further Sell-Down or Holding Restructuring 	 

  

	 	(a)	Genworth Financial may, at any time, in its absolute discretion, decide to: 	 

  

	 	(1)	sell some or all of its shareholding in Genworth Australia (Sell-Down); or 	 

  

	 	(2)	restructure the manner in which it holds its interest in Genworth Australia (Holding Restructuring). 	 

  

	 	(b)	If Genworth Financial decides to conduct a Sell-Down or a Holding Restructuring, Genworth Financial may in its absolute discretion request the reasonable co-operation and
assistance of Genworth Australia in facilitating a Sell-Down or a Holding Restructuring. 	 

  

	 	(c)	Subject to sub-clauses (d) and (e), if requested to do so by Genworth Financial, Genworth Australia must provide all co-operation and assistance reasonably required by
Genworth Financial to facilitate a Sell-Down or a Holding Restructuring. Without limiting the foregoing, if requested by Genworth Financial, Genworth Australia must: 	 

  

	 	(1)	promptly provide all information as Genworth Financial, any member of the Genworth Financial Group or their respective advisers reasonably require in connection with a Sell-Down
or a Holding Restructuring; 	 

  

	 	(2)	allow Genworth Financial, any member of the Genworth Financial Group or their respective advisers full and free access at all reasonable times to the premises, books and records
of Genworth Australia and its Subsidiaries to enable Genworth Financial to obtain any information about Genworth Australia and its Subsidiaries and any matters which Genworth Financial reasonably requires in connection with a Sell-Down or a Holding
Restructuring; and 	 

  

	 	(3)	use its reasonable endeavours to provide the full support of, and access to, Genworth Australia’s senior executives in marketing and promoting any Sell-Down. 	 

  

	 	(d)	Genworth Financial will consult with Genworth Australia about the preferences of Genworth Australia for the manner in which any Sell-Down is to be effected and investors under
that Sell-Down. 	 

  

	 	(e)	If Genworth Australia is requested to provide co-operation and assistance to facilitate a Sell-Down or Holding Restructure and the Board, acting in good faith, determines that
the provision of such co-operation and assistance requested by Genworth Financial should be deferred because it would materially adversely affect a pending or proposed material acquisition or merger or capital markets transaction, or negotiations or
discussions with respect thereto (Potential Transaction), then: 	 

  

	 	(1)	Genworth Australia will have the right to defer the provision of such co-operation and assistance requested by Genworth Financial until such Potential Transaction is announced or
is no longer being pursued by Genworth Australia, provided that: 	 

  

	 	(A)	such deferral shall not extend for a period of more than 30 days after the date on which the Board has determined to defer the provision of co-operation and assistance; and
	 

  

	 	(B)	such deferral right may not be exercised by Genworth Australia more than once in any 12 month period; and 	 

  
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agreement            page 17 

					
	

	  	 3    Financial and other information
	 	

  

	 	(2)	Genworth Australia will promptly give written notice to Genworth Financial of: 	 

  

	 	(A)	the Board’s determination to defer the provision of co-operation and assistance; and 	 

  

	 	(B)	the fact that a Potential Transaction is no longer being pursued by Genworth Australia. 	 

  

	3.7	Assistance in connection with enquiry or proceedings about Initial Public Offering, Sell-Down or Holding Restructuring 	 

  

	 	(a)	Subject to Applicable Law, Genworth Australia agrees to allow Genworth Financial, any member of the Genworth Financial Group and their respective directors, officers and
advisers, full and free access to the premises, books and records of Genworth Australia and its Subsidiaries at all reasonable times during any regulatory enquiry or litigation proceedings (threatened or actual) in relation to the Initial Public
Offering, any Sell-Down or any Holding Restructuring to enable Genworth Financial to obtain any information about Genworth Australia and its Subsidiaries and any matters which Genworth Financial reasonably requires in relation to the Initial Public
Offering, any Sell-Down or any Holding Restructuring. Genworth Australia and its Subsidiaries must provide any information, assistance and facilities which Genworth Financial reasonably requires for those purposes. 	 

  

	 	(b)	Without limiting the above, if reasonably requested, Genworth Australia must, subject to Applicable Law, provide Genworth Financial, any member of the Genworth Financial Group
and their respective directors, officers and advisers with full and free access to, and copies of all materials and documents used or created in connection with the due diligence investigations conducted in connection with the Initial Public
Offering or any Sell-Down including supporting documents and work papers, on receipt of reasonable notice, and must maintain those materials and documents for a least 6 years after closing of the Initial Public Offer or any Sell-Down, respectively,
for that purpose. 	 

  

	3.8	Fifty percent threshold 	 

 Genworth Australia agrees that, with respect to any financial year
during which, members of the Genworth Financial Group have a Relevant Interest in aggregate in 50% or more of the outstanding Ordinary Shares: 
  

	 	(a)	Monthly and other financial information. Genworth Australia shall deliver to Genworth Financial the monthly financial, risk and other information, reports and plans set
forth on Schedule 1 in respect of each month, within the reasonable time periods specified by Genworth Financial. Genworth Australia shall provide Genworth Financial with an opportunity to meet with management of Genworth Australia to discuss such
information, reports and plans upon reasonable notice. 	 

  

	 	(b)	Internal auditors. Genworth Australia shall provide Genworth Financial, the Genworth Financial Auditors or other representatives of Genworth Financial reasonable access
upon reasonable notice during normal business hours to Genworth Australia’s and its Subsidiaries’ books and records and personnel so that Genworth Financial may conduct reasonable audits relating to the financial statements and data
provided by Genworth Australia pursuant to this clause 3, as well as to the internal accounting controls and operations of Genworth Australia and its Subsidiaries. 	 

  
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agreement            page 18 

					
	

	  	 3    Financial and other information
	 	

  

	 	(c)	Management certification. Genworth Australia’s chief executive officer and chief financial or accounting officer shall submit quarterly management representation
letters, substantially in the form furnished to Genworth Financial by Genworth Australia or its Subsidiaries prior to the Closing Date (with such changes thereto prescribed by Genworth Financial consistent with management representation letters
furnished to Genworth Financial by other Subsidiaries of Genworth Financial or as otherwise required by changes to Applicable Law or stock exchange requirements) attesting to the accuracy and completeness of the financial statements or financial and
accounting records referred to therein in all material respects. 	 

  

	 	(d)	Maintenance of internal controls. Genworth Australia shall, and shall cause each of its consolidated Subsidiaries to: 	 

  

	 	(1)	make and keep books, records and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of Genworth Australia and
such Subsidiaries; and 	 

  

	 	(2)	devise and maintain a system of internal controls over financial reporting sufficient to provide reasonable assurances that: 	 

  

	 	(A)	transactions are executed in accordance with management’s general or specific authorisation; 	 

  

	 	(B)	transactions are recorded as necessary (i) to permit preparation of financial statements in conformity with US GAAP and Australian GAAP or any other criteria applicable
to such statements and (ii) to maintain accountability for assets; and 	 

  

	 	(C)	access to assets is permitted only in accordance with management’s general or specific authorisation. 	 

  

	 	(e)	Accountants’ reports. Promptly, but in no event later than five Business Days following the receipt thereof, Genworth Australia shall deliver to Genworth Financial
copies of all reports submitted to Genworth Australia or any of its Subsidiaries by their independent certified public accountants, including, without limitation, each report submitted to Genworth Australia or any of its subsidiaries concerning its
accounting practices and systems and any comment letter submitted to management or the board of directors (or any committee thereof) in connection with their annual audit and all responses to such reports and letters. 	 

  

	 	(f)	Accounting policies and principles – US GAAP. Genworth Financial will notify Genworth Australia from time to time of changes to US GAAP or SEC financial
reporting requirements. In connection with any such changes or any proposed material change in US GAAP accounting policies, principles, processes or methodologies from those in effect immediately prior to the Closing Date, Genworth Financial
will consult with Genworth Australia and, if requested by Genworth Financial, Genworth Australia will consult with the Genworth Financial Auditors with respect to such changes and their implementation by Genworth Australia; provided, however that
Genworth Australia shall not make or implement any such changes without Genworth Financial’s prior written consent. Genworth Australia will use its reasonable best efforts to promptly respond to any request by Genworth Financial to make a
change in accounting policies, principles, processes or methodologies and, in any event, in sufficient time to enable Genworth Australia to comply with its obligations under clause 3.1. 	 

  

	 	(g)	 Accounting policies and principles – Australian GAAP. Genworth Australia will give Genworth Financial reasonable prior notice of any proposed
material 
	 

  
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agreement            page 19 

					
	

	  	 3    Financial and other information
	 	

  

	 	
change in Australian GAAP accounting policies, principles, processes or methodologies from those in effect immediately prior to the Closing Date, and will give Genworth Financial notice
immediately following adoption of any such changes that are mandated or required under Australian GAAP or requirements of ASIC. In connection therewith, Genworth Australia will consult with Genworth Financial and, if requested by Genworth Financial,
Genworth Australia will consult with the Genworth Financial Auditors with respect thereto. As to material changes in accounting principles that could affect Genworth Financial, Genworth Australia will not make any such changes without Genworth
Financial’s prior written consent, excluding changes that are mandated or required under Applicable Law, Australian GAAP or requirements of ASIC. If Genworth Financial so requests, Genworth Australia will be required to obtain the concurrence
of the Genworth Australia Auditors as to such material change, excluding changes that are mandated or required under Applicable Law, prior to its implementation. 	 

  

	 	(h)	Meetings with financial analysts, investors or shareholders. Genworth Australia shall notify Genworth Financial of, and provide Genworth Financial with any presentations
or discussion materials to be used in, any meetings in relation to Genworth Australia’s business to be held between Genworth Australia and any financial analyst or investor or shareholder reasonably in advance of the date of all such meetings,
and shall consult with Genworth Financial as to the appropriate timing for all such presentations and meetings. Notwithstanding the foregoing, Genworth Australia may participate in discussions with financial analysts and investors and shareholders
without prior notification and consultation with Genworth Financial, provided that such discussions are not solicited or initiated by Genworth Australia and Genworth Australia discusses only publicly available information and Genworth Australia
notifies Genworth Financial of the content of such discussions and attendees as soon as reasonably practical after the completion of such discussions. 	 

  

	 	(i)	Genworth Australia external reinsurance programs. Genworth Australia shall offer to Brookfield the opportunity to participate in Genworth Australia’s external
reinsurance program, including the renewal thereof, on the same terms and conditions (including as to pricing) as other external reinsurers, for an amount of not less than $10 million. 	 

  

	 	(j)	Genworth Financial policies and practices. Notwithstanding anything else in this agreement, except as required by Applicable Law (including, but not limited to, the
requirements of APRA, which as at the date of this agreement require the Board to approve the use of policies and functions and ensure that those give appropriate regard to Genworth Australia’s business and its specific requirements, and the
ASX listing rules), Genworth Australia will comply with all: 	 

  

	 	(1)	written Genworth Financial policies and practices of Genworth Financial (as amended, replaced or supplemented from time to time), including, but not limited to, all information,
financial, operating, actuarial, human resources, risk and compliance policies and practices, that apply to Genworth Australia; and 	 

  

	 	(2)	otherwise established Genworth Financial practices and core systems of Genworth Financial as at the date of this Agreement and communicated to Genworth Australia on or before the
date of this Agreement, including, but not limited to, all information, financial, operating, actuarial, human resources, risk and compliance practices and core systems, that apply to Genworth Australia, 	 

 provided that if the Genworth Australia board, acting in good
faith, considers that any variations to the application of such policies, practices and core 

  
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agreement            page 20 

					
	

	  	 4    Restrictive covenants and employee matters
	 	

  

 
systems to Genworth Australia, are necessary having regard to Genworth Australia’s business and specific requirements, Genworth Financial and Genworth Australia will each designate a senior
manager to serve as their respective representative to consider any amendments that may be required (if any) to the application of such policies, practices and core systems to Genworth Australia. 

 

	3.9	Auditor consultation 	 

  

	 	(a)	Genworth Australia agrees that, from the first date on which members of the Genworth Financial Group do not have a Relevant Interest in aggregate in 50% or more of the
Outstanding Ordinary shares until the first date on which members of the Genworth Financial Group do not have a Relevant Interest in 20% or more of the outstanding Ordinary Shares, Genworth Australia shall consult with Genworth Financial in advance
regarding the selection of the audit firm to be proposed by management to be appointed as auditor of Genworth Australia by its shareholders. 	 

  

	 	(b)	Paragraph (a) does not apply to the extent that such consultation would be reasonably likely to preclude an audit firm being appointed as auditor of Genworth Australia.
	 

  

	3.10	Disclosure of information 	 

 Information provided pursuant to this clause 3 may be
disclosed by Genworth Financial in its public filings (including any related earnings calls or materials) as required by any Governmental Authority or pursuant to Applicable Law and is deemed permitted under and as contemplated in clause 4 of the
Master Agreement. 
  

	3.11	Costs 	 

 If Genworth Australia or any of its Subsidiaries is requested by
Genworth Financial to co-operate with or assist Genworth Financial in connection with any Sell-Down or Holding Restructuring (being a Holding Restructure conducted directly and solely for the benefit of Genworth Financial), then Genworth Financial
is responsible for and must pay all reasonable third party costs and expenses associated with such Sell-Down or Holding Restructure and must reimburse Genworth Australia for the amount of such third party costs and expenses incurred by Genworth
Australia or any of its Subsidiaries in connection thereto. 
  

	3.12	Privilege 	 

 The provision of any information pursuant to this clause 3
shall not be deemed a waiver of any privilege, including privileges arising under or related to the attorney-client privilege or any other applicable privileges (Privilege). Following the Closing Date, neither Genworth Australia nor its
Subsidiaries nor Genworth Financial nor its Subsidiaries will be required to provide any information pursuant to this clause 3 if the provision of such information would serve as a waiver of any Privilege afforded such information. 

  
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	  	 4    Restrictive covenants and employee matters
	 	

  

			
	4	 	Restrictive covenants and employee matters
	 

  

	4.1	Non-competition 	 

  

	 	(a)	Genworth Financial shall not, from the date of this Agreement until the first date on which members of the Genworth Financial Group do not have a Relevant Interest in aggregate
in 50% or more of the outstanding Ordinary Shares in Genworth Australia (the Restricted Period), directly or indirectly, engage or invest in, own, manage, operate, finance, use or license any other Person to use any Restricted Genworth
Australia Intellectual Property (as defined in the Cross License) in connection with, or control or participate in the ownership, management, operation or control of any mortgage insurance business in Australia and New Zealand carried on by Genworth
Australia or its Affiliates at the date of this Agreement (Genworth Australia Business Line), other than as a result of its holding in Genworth Australia. 	 

  

	 	(b)	Genworth Australia shall not, at any time during the Restricted Period, directly or indirectly, engage or invest in, own, manage, operate, finance, use or license any other
Person to use any Restricted Genworth Financial Intellectual Property (as defined in the Cross License) in connection with, or control or participate in the ownership, management, operation or control of any line of business (other than the mortgage
insurance business in Australia and New Zealand) in a jurisdiction where Genworth Financial or its Affiliates (i) are licensed to conduct, or has a local employee or local employees dedicated to, or (ii) hold an interest of greater than
20% in a joint venture that is licenced to conduct, or has a local employee or local employees dedicated to, such line of business at the date of this Agreement, being those jurisdictions and lines of business listed in Schedule 4 and marked with a
“ü” (each such line of business, a Genworth Financial Business Line).
	 

  

	 	(c)	Nothing contained in this clause 4 shall prevent either party or its Affiliates from directly or indirectly owning up to an aggregate of 5% of any class of securities of any
Person whose securities are listed or posted for trading on any stock exchange or market, provided that neither such party nor any of its Affiliates has any direct involvement in the management of such Person and/or such Person’s business.
	 

  

	 	(d)	Notwithstanding any other provision of this Agreement, during the Restricted Period, either Genworth Financial or Genworth Australia (the Acquiring Party) shall be
permitted to enter into a transaction or a business combination with any Person or Persons, including a transaction by way of a purchase or sale of shares, an acquisition or disposition of assets, the formation or dissolution of a partnership or
joint venture, a merger, amalgamation or any other form of transaction (collectively, a Transaction) as a result of which such Acquiring Party or any successor thereof would, directly or indirectly, acquire a business which directly or
indirectly competes with a Business Line of the other party (a Competitive Business), provided that: 	 

  

	 	(1)	the assets and revenues of the Competitive Business comprise less than 15% of the assets and less than 15% of the revenues, respectively, of the aggregate assets and revenues of
the business being acquired, based upon the financial statements for such business’s most recently completed fiscal year for which financial statements were prepared; and 	 

  

	 	(2)	the other party hereto (the Non-Acquiring Party) is first given the right (the ROFR) to acquire the Competitive Business on the terms set forth in Schedule 3
hereto. 	 

  
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	  	 4    Restrictive covenants and employee matters
	 	

  

	 	(e)	If the Non-Acquiring Party fails to exercise its ROFR or to complete its Transaction within the time periods specified in Schedule 3 hereto, the Acquiring Party shall be
permitted to complete its Transaction and thereby to acquire and conduct the Competitive Business; provided that the Acquiring Party holds the Competitive Business separate, including by: 	 

  

	 	(1)	divesting or causing the Competitive Business to be divested as soon as is practicable and in any event within 2 years following the closing of the Transaction; 	 

  

	 	(2)	not using, directly or indirectly, the brand(s) of the Non-Acquiring Party in connection with the Competitive Business (other than through the use of a corporate name as
expressly contemplated by the Transitional Trade-Mark License); 	 

  

	 	(3)	if applicable, taking all appropriate steps to ensure that none of the directors of the Non-Acquiring Party who are nominated by the Acquiring Party serve on the board of the
Competitive Business and to ensure that such directors are not in any way involved in the management or operation of the Competitive Business; and 	 

  

	 	(4)	not using, directly or indirectly, any information relating to the Non-Acquiring Party, other than information that is publicly available, for the benefit, or in connection with
the operation or management of, the Competitive Business. 	 

  

	 	(f)	If any party hereto is acquired during the Restricted Period, it will continue to be subject to the non-competition restrictions described above. However, the purchaser of such
party will not be prohibited from carrying on a Competitive Business, provided that during the Restricted Period it does not do so through such party and that such party’s brand, personnel, confidential information and Restricted Intellectual
Property (as defined in the Cross License) are not utilized by such purchaser in the conduct of the Competitive Business during the Restricted Period. 	 

  

	4.2	Non-solicitation 	 

  

	 	(a)	Without the prior written consent of Genworth Financial, Genworth Australia or its Affiliates shall not, at any time during the Restricted Period, directly or indirectly, either
for itself or another Person, solicit to employ, or employ as a director, officer, employee, or otherwise, any individual who to its knowledge is then employed (or formerly employed) by Genworth Financial at the level of salary band 1 or 2 or
equivalent, including any such individual seconded by Genworth Financial to Genworth Australia, except if Genworth Financial designates that person as a director of Genworth Australia in accordance with clause 2.2 or when that person has responded
to an advertisement in a publication of a general nature and not specifically directed at any employee or employees of Genworth Financial, unless (A) Genworth Financial has terminated the employment of such individual or (B) at least 6
months have elapsed since such individual has voluntarily terminated his or her employment with Genworth Financial. 	 

  

	 	(b)	 Without the prior written consent of Genworth Australia, Genworth Financial or its Affiliates shall not, at any time during the Restricted Period, directly or
indirectly, either for itself or another Person, solicit to employ, or employ as a director, officer, employee, or otherwise, any individual who to its knowledge is then employed (or formerly employed) by Genworth Australia at the level of salary
band 1 or 2 or equivalent, including any such individual seconded by Genworth Australia to Genworth Financial, except when that person has responded to an advertisement in a publication of a general nature and not specifically directed at any
employee or 
	 

  
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	  	5    Indemnification, dispute resolution and expenses	 	

  

	 	
employees of Genworth Australia, unless (A) Genworth Australia has terminated the employment of such individual or (B) at least 6 months have elapsed since such individual has
voluntarily terminated his or her employment with Genworth Australia. 	 

  

	4.3	Employee matters 	 

 The parties hereby agree to the terms set forth in Schedule 2
hereto in respect of employee matters. For greater certainty, each party will bear its own costs in connection with such obligations (except as set out in Schedule 2) and will, at all times, comply with Applicable Law in the discharge thereof.

  

	4.4	Reasonableness of covenants 	 

 Each party acknowledges and agrees that: 

 

	 	(a)	the covenants set forth in this clause 4 are reasonable in the circumstances and are necessary to protect the other party and its respective Affiliates and the value to them of
their respective businesses; and 	 

  

	 	(b)	the breach by it of any of the provisions of this clause 4 would cause serious and irreparable harm to the other party which could not be adequately compensated for in damages.
	 

 Each party therefore consents to an order specifically enforcing the
provisions of this clause 4, or an injunction being issued against it restraining it from any further breach of such provisions. 
  

			
	 5
  

 
	 	Indemnification, dispute resolution and expenses

  

	5.1	Indemnification 	 

 The parties shall indemnify each other in connection with this
Agreement in accordance with clause 5 of the Master Agreement, which shall be the sole and exclusive procedures for indemnification relating to this Agreement. 
  

	5.2	Dispute resolution 	 

 Each party submits to the jurisdiction of the courts of the State
of New South Wales and of any court that may hear appeals therefrom for any proceedings in connection with this Agreement. 
  

	5.3	Expenses 	 

 Except as otherwise specifically provided in this Agreement, each
party hereto shall bear any costs and expenses incurred in connection with exercising its rights and performing its obligations under this Agreement. 

  
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agreement            page 24 

					
	

	  	6    Termination	 	

  

			
	6	  	 Termination
  

 

  

	6.1	Termination 	 

 The term of this Agreement shall commence on the date hereof and
expire on the first date on which members of the Genworth Financial Group do not have a Relevant Interest in 10% or more of the outstanding Ordinary Shares. 
  

	6.2	Survival 	 

 Clause 5 (Indemnification, dispute resolution and expenses),
clause 6.2 (Survival) and clause 7 (General provisions) shall survive the expiration or other termination of this Agreement and remain in full force and effect. Clause 3.1 (Annual and quarterly financial information) and clause 3.5
(Additional requirements) shall survive the expiration or other termination of this Agreement and remain in full force and effect until Genworth Australia has provided the required information and Genworth Financial has prepared and publicly filed
its financial statements for the applicable period. Clause 3.2 (Tax information) shall survive the expiration or other termination of this Agreement and remain in full force and effect until 15 September following the taxable year in which
expiration or termination occurs. 
  

			
	 7
	  	 General provisions
  

 

  

	7.1	Governing law 	 

 This Agreement shall be governed by and construed and interpreted
in accordance with the Laws of the State of New South Wales excluding its conflict of laws rules. 
  

	7.2	Co-operation 	 

 The requirements of clause 7.2 of the Master Agreement are and
shall be deemed to be incorporated and made an integral part of this Agreement. 
  

	7.3	Notices 	 

 All notices, requests, claims, demands and other communications
under this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile with receipt confirmed (followed by delivery of
an original via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice
given in accordance with this clause 7.3): 
  

			
		  	Genworth Australia
		
	Address	  	Level 26, 101 Miller St, North Sydney, NSW 2060, Australia
		
	Attention	  	General Counsel
		
	Phone	  	+61 2 8248 2284
		
	Fax	  	+61 2 8916 7242

  
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	  	7    General provisions	 	

  

					
	 	 	
		  	Brookfield	 	
			
	Address	  	 6620 West Broad Street
	 	
			
		  	Richmond, VA 23230	 	
			
	Attention	  	President	 	
			
	Phone	  	804.662.2560	 	
			
	Fax	  	804.662.2414	 	
			
	 	  	 	 	
			
		  	GFIH	 	
			
	Address	  	 c/- Genworth Financial, Inc.
	 	
			
		  	6620 West Broad Street	 	
			
		  	 Richmond, VA 23230
	 	
			
	Attention	  	General Counsel	 	
			
	Phone	  	804.662.2574	 	
			
	Fax	  	804.662.2414	 	
			
	 	  	 	 	
			
		  	Genworth Financial	 	
			
	Address	  	 Genworth Financial, Inc.
	 	
			
		  	 6620 West Broad Street
	 	
			
		  	Richmond, VA 23230	 	
			
	Attention	  	General Counsel	 	
			
	Phone	  	804.662.2574	 	
			
	Fax	  	804.662.2414	 	
			
	 	  	 	 	

  

	7.4	Severability 	 

 If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced under any Applicable Law or as a matter of public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties to this Agreement shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable
manner in order that the transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent possible. 
  

	7.5	Entire agreement 	 

 Except as otherwise expressly provided in this Agreement, this
Agreement (including the Schedules hereto and the herein referenced provisions of the Master Agreement) 

  
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agreement            page 26 

					
	

	  	7    General provisions	 	

  

 
constitutes the entire agreement of the parties hereto with respect to the subject matter of this Agreement and supersedes all prior agreements and undertakings, both written and oral, between or
on behalf of the parties hereto with respect to the subject matter of this Agreement. 
  

	7.6	Assignment; no third-party beneficiaries 	 

  

	 	(a)	A member of the Genworth Financial Group (including, for greater certainty, Shareholderco) may assign this Agreement to any member of the Genworth Financial Group to whom
Ordinary Shares are transferred and who agrees to become party hereto and to be bound by this Agreement (whereupon such transferee shall become an Applicable GNW Shareholder in respect of such Ordinary Shares, provided, however that such transferor
must remain party hereto in respect of any Ordinary Shares, as applicable, remaining held by it, and Genworth Australia hereby consents and agrees to any such assignment. Except as aforesaid, this Agreement shall not be assigned by any party hereto
without the prior written consent of the other party. 	 

  

	 	(b)	Except as provided in clause 5 with respect to indemnification, this Agreement is for the sole benefit of the parties to this Agreement and their permitted successors and
assigns and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 	 

  

	7.7	Amendment; waiver 	 

 No provision of this Agreement may be amended or modified except by
a written instrument signed by all the parties hereto. No waiver by any party of any provision hereof shall be effective unless explicitly set forth in writing and executed by the party so waiving. The waiver by either party hereto of a breach of
any provision of this Agreement shall not operate or be construed as a waiver of any other subsequent breach. 
  

	7.8	Currency 	 

 All references in this Agreement to “dollars” or
“$” are expressed in Australian currency, unless otherwise specifically indicated. 
  

	7.9	Counterparts 	 

 This Agreement may be executed in one or more counterparts, each of
which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or electronic transmission
shall be as effective as delivery of a manually executed counterpart of this Agreement. 

  
 Shareholder
agreement            page 27 

 

 
  

 Schedules 

Table of contents 
  

					
	 	 	
	 Financial data and other information
	  	29	 	
			
	 Employee matters
	  	40	 	
			
	 ROFR Terms
	  	42	 	
			
	 Genworth Financial Jurisdictions and Lines of Business
	  	44	 	

  
 Shareholder
agreement            page 28 

 

 
  

 Schedule 1  

Financial data and other information 

			
	 	 	

 Clause 3.1(a) - Annual and Quarterly Financial Data and Other Information 

 

							
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	
Genworth  

Financial Relevant  
 Interest in 20% or  
more of  
Outstanding  
Ordinary Shares  
	 	 
	 	
	Production Metrics	 	
	 		 	 
	Insurance and risk in force	 	Segregated by (i) product, (ii) loan size, (iii) age, (iv) state, (v) policy year and (vi) LVR ratio with supporting documentation	  	ü  	 	
	 		 	 
	New insurance written	 	Segregated by product with supporting documentation	  	ü  	 	
	 		 	 
	Policies in force	 	Segregated by product with supporting documentation	  	ü  	 	
	 		 	 
	Delinquent loans	 	Segregated by (i) product, (ii) loan size, (iii) age, (iv) state, (v) policy year and (vi) LVR ratio with supporting documentation	  	ü  	 	
	 		 	 
	Average primary loan size	 	Segregated by product with supporting documentation	  	ü  	 	
	 		 	 
	LVR ratio	 	Segregated by product and ranges with supporting documentation	  	ü  	 	
	 	 
	Financial Statements	 	
	 		 	 
	Trended SEC US GAAP Balance Sheet	 	Trended for last 8 quarters	  	ü  	 	
	 		 	 
	Trended SEC US GAAP Income Statement	 	Trended for last 8 quarters	  	ü  	 	
	 		 	 
	SEC US GAAP Balance Sheet	 	Versus (i) prior quarter, (ii) same quarter of prior year, (iii) prior year and (iv) prior year end, with fx adjusted variance explanations	  	ü  	 	
	 		 	 
	SEC US GAAP Income Statement	 	Versus prior quarter and same quarter of prior year, with fx adjusted variance explanations. In addition, year-to-date versus year-to-date of prior
year, with fx adjusted variance explanations	  	ü  	 	

  
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agreement            page 29 

					
	

	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	
Genworth  

Financial Relevant  
 Interest in 20% or  
more of  
Outstanding  
Ordinary Shares  
	 	 
	 	 	 	
	  

 
  
	 	  	  	  	 	 
	 	
	Supporting Documentation	 	
	 		 	
	
4 Blocker/Significant and 

Unusual Items
	 	Document received prior to quarter close that describes changes to business relationships, processes and internal controls, systems, asset/liability
valuation methodologies and other items that impact financial statement results including quantification of any items as appropriate	  	ü
  	 	
	 		 	
	Accounting memoranda	 	Support for conclusions reached on accounting matters as well as internal control assessments or deficiencies during the quarter	  	ü
  	 	
	 		 	
	Actuarial review report	 	Support for conclusions reached on actuarial matters	  	ü
  	 	
	 		 	
	Deferred Acquisition Cost study	 	 	  	ü
  	 	
	 		 	
	US GAAP trial balance ledger feed	 	Prepared for all SEC required reported accounts, including clearing of all validation checks and ensuring any required new account usage is cleared
with the GFI Controller’s Office	  	ü
  	 	
	 		 	
	Balance Sheet account roll forwards	 	Roll forward (i) Deferred Acquisition Cost, (ii) Intangibles (PVFP, software and licenses), (iii) Loss Reserve, (iv) Goodwill and (v) Unearned Premiums
for last 8 quarters and Equity year-to-date	  	ü
  	 	
	 		 	
	Written and Earned Premium roll forward	 	For last 8 quarters	  	ü
  	 	
	 		 	
	Other Assets and Other Liabilities	 	Detailed by subcategories with variance explanations versus same quarter of prior year and prior year end	  	ü
  	 	
	 		 	
	Schedule of Commitment and Contingencies	 	 	  	ü
  	 	
	 		 	
	FX Report (P&L)	 	 	  	ü
  	 	

  
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agreement            page 30 

					
	

	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	
Genworth  

Financial Relevant  
 Interest in 20% or  
more of  
Outstanding  
Ordinary Shares  
	 	 
	 		 	
	Account reconciliations (in Genworth reconciliation system if
Ownership 50% or greater or per internal control policy requirements if less than 50%)	 	For all required accounts	  	ü
  	 	
	 		 	
	
Statement of Unadjusted 
 Differences
	 	 Listing of “Passed on differences” or unadjusted differences included in US GAAP financial
statements
  
	  	ü
  	 	
	 		 	
	Auditor Questionnaire	 	 	  	ü
  	 	
	 		 	
	Financial Statement Representation Letter	 	Management representation letter signed by CEO, CFO, Controller and Actuary plus all related attachments	  	ü
  	 	
	 		 	
	Support / Review for relevant business sections of SEC filings and
Quarterly Financial Supplement	 	Timely review and commentary of Genworth footnotes and disclosures related to the Australian business unit for the 10-Q and 10-K (mainly the business
section, risk factors, trends, MD&A, and all relevant footnotes), as well as all relevant metrics within the quarterly financial supplement	  	ü
  	 	

 Clause 3.2(a) - Tax Data and Other Information 

 

							
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	 Genworth  

Financial Relevant  
 Interest in 10% or  
more of  
Outstanding  
Ordinary Shares  
	 	 
	 		 	
	Annual US Tax Reporting Package for Form 5471	 	Including information for any branch operations (i.e. New Zealand)	  	ü
  	 	
	 		 	
	Australian and New Zealand Tax Returns and Tax Returns for any
jurisdiction where Genworth Australia conducts business	 	Including receipts or proof of payment for any withholding tax imposed on payments to other Genworth affiliates	  	ü
  	 	
	 		 	
	Australian and New Zealand Tax Liability Estimates or any other
jurisdiction where Genworth Australia conducts business	 	Projections of taxable income and current tax expense	  	ü
  	 	

  
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agreement            page 31 

					
	

	  	Schedule 1    Financial data and other information	 	

  

 Clause 3.3 - Financial, Risk and Other Information 

 

							
	 	 	 	
	Schedule Name(s)	  	Description (Contents)	  	 Genworth  

Financial  

Relevant  

Interest in 20%  
 or more of  
 Outstanding  

Ordinary  

Shares  
	 	 
	 	
	Quarterly Reports	 	
	 	 	 	
	Short Range Forecast Submission to TM1 or its equivalent	  	Forecast of current quarter US GAAP earnings by SEC line item and key metrics with variance explanations versus Operating Plan	  	ü
  	 	
	 	 	 	
	Finance Reviews	  	Review of US GAAP income statement, including source of earnings analysis (loss drivers, expense drivers, etc.) for the quarter with variance
explanations versus (i) prior quarter, (ii) same quarter of prior year, (iii) Operating Plan and (iv) year-to-date versus prior year-to-date	  	ü
  	 	
	 	 	 	
	Operating Reviews	  	Review of economic environment and trends, portfolio metrics, production metrics, US GAAP income statement, including source of earnings analysis (loss
drivers, expense drivers, etc.) and strategy for the quarter with variance explanations versus (i) prior quarter, (ii) same quarter of prior year and (iii) Operating Plan	  	ü
  	 	
	 	 	 	
	New Business Reviews	  	Review of VNB, RAROC, IRR and ROE performance and first year capital strain for new business for the quarter and year-to-date with variance
explanations versus (i) prior quarter and (ii) Operating Plan	  	ü
  	 	
	 	 	 	
	Quality Control/Audit Reviews	  	 Review of:

(A) Audit results and action plans for (i) lender compliance including bulk deals, (ii) internal underwriting and internal loss mitigation, (iii) internal process
and (iv) new product audits. Includes discussions on plans for sampling and audit frequency.
 (B) Investigations findings and action plans for
non-compliance to guidelines, processes or fraud detection.
 (C) Valuation review findings and action plans for issues detected with Valuations, Valuers
or Valuation companies.
	  	ü
  	 	
	 		 	
	Annual Planning	  	 	  	 	 	
	 	 	 	
	Multi-Year Plan submission to TM1 or its equivalent	  	5 Year forecast of Company performance, capital needs and dividend plans	  	ü
  	 	

  
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	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	Schedule Name(s)	  	Description (Contents)	  	 Genworth  

Financial  

Relevant  

Interest in 20%  
 or more of  
 Outstanding  

Ordinary  

Shares  
	 	 
	 		 	
	Operating Plan Expense Budgeting Submission to TM1 or its
equivalent	  	1 Year forecast of Company’s expenses for subsequent year	  	ü
  	 	
	 		 	
	Operating Plan Submission to TM1 or its equivalent	  	1 Year forecast of Company performance, capital needs and dividend plan used to set targets for subsequent year	  	ü
  	 	

 Clause 3.5(f)(1) - Risk, Capital and Investment Information 

 

							
	 	 	 	
	Schedule Name(s)	  	Description (Contents)	  	 Genworth  

Financial  

Relevant  

Interest in 20%  
 or more of  
 Outstanding  

Ordinary Shares  
	 	 
	 	
	Risk Management	 	
	 		 	
	Economic / Housing Market Indicators	  	Home Price Appreciation, GDP and Unemployment Rate at national and regional level	  	ü
  	 	
	 		 	
	Central Bank / Mortgage Interest Rates	  	Historical Trends and forecasts of Central Bank rates and standard mortgage rates	  	ü
  	 	
	 		 	
	Original and Effective LVR	  	Original and Effective LVR and Cumulative Home Price Appreciation by book year	  	ü
  	 	
	 		 	
	Ever-To-Date Loss Ratios	  	Loss Ratios by (i) book year, (ii) product, (iii) region and (iv) lender	  	ü
  	 	
	 		 	
	Delinquency Development	  	Delinquency Count and Rate by (i) portfolio (ii) book year, (iii) region and (iv) product	  	ü
  	 	
	 		 	
	Delinquency By Arrears Bucket (ageing)	  	Trends of delinquency counts and rates by arrears bucket (ageing)	  	ü
  	 	
	 		 	
	Loss Performance Analysis	  	Representing (i) Reserve Balance, (ii) Paid Claims, (iii) Losses, (iv) Loss Ratio and (v) Other Loss Metrics	  	ü
  	 	
	 		 	
	Loss / Delinquency Trends	  	Trends and comparisons to plan for (i) premiums, (ii) losses, (iii) other loss metrics, (iv) delinquency rolls and (v) loss mitigation
metrics	  	ü
  	 	

  
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	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	Schedule Name(s)	  	Description (Contents)	  	 Genworth  

Financial  

Relevant  

Interest in 20%  
 or more of  
 Outstanding  

Ordinary Shares  
	 	 
	 		 	
	Ever-To-Date Loss Ratios 	  	Loss Ratios by (i) book year, (ii) product, (iii) region and (iv) lender	  	ü
  	 	
	 		 	
	Delinquency Rate / Loss Ratio by Segment	  	Delinquency rates and loss ratios by lender and region; variance to prior month and prior year	  	ü
  	 	
	 		 	
	Portfolio Trends	  	In Force and New Insurance Written by (i) geographic region, (ii) LVR, (iii) product, (iv) loan type and (v) loan purpose	  	ü
  	 	
	 		 	
	Delinquency Trends	  	Delinquency rate trends by book year and region (graphs)	  	ü
  	 	
	 		 	
	New Delinquency and Cure Rates	  	Trends of new delinquency rates and cure rates at (i) national, (ii) regional and (iii) book year levels (graphs)	  	ü
  	 	
	 		 	
	RADAR Report	  	Portfolio composition and performance versus targets; key early warning indicators	  	ü
  	 	
	 		 	
	Housing Bubble Monitoring	  	National and regional summary tables and trend graphs of housing bubble metrics	  	ü
  	 	
	 		 	
	Delinquency and Claim Performance by Development Year	  	Delinquency and Claim triangles by book year	  	ü
  	 	
	 		 	
	Loss Forecasts	  	Base Case and Stress Scenario loss forecasts with key assumptions	  	ü
  	 	
	 		 	
	Loss Tracking	  	Actual loss development versus Operating Plan	  	ü
  	 	
	 		 	
	Economic Capital Update	  	Economic capital with granularity at book year, region, LVR, and other key risk segments	  	ü
  	 	
	 		 	
	ERM Report	  	ERM dashboard including earnings and earnings at risk, ROE, MCR, liquidity ratio, capital at risk, VaR, BE VNB, and MC VNB; ERM overview; emerging risk
scorecard and key risk indicators; reputation risk scorecard and distributor concentration	  	ü
  	 	
	 		 	
	Reinsurance reporting	  	Reports to reinsurers with portfolio metrics, performance update, PML, and other details as per the reinsurance contracts	  	ü
  	 	

  
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	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	
Genworth  
Financial
Relevant  
 Interest in 20%  
 or more
of  
Outstanding  
Ordinary Shares  
	 	 
	 	 	 	
	Notification of material litigation matters	 	Provide reports of significant or material litigation actions (whether from an employee, customer, supplier, regulatory
body or any other party) within 5 Business Days of becoming aware of the matter. Provide copies of correspondence and other relevant materials as reasonably requested by Genworth Financial	  	ü
  	 	
	 	
	Capital Management	 	
	 	 	 	
	Capital Management Report	 	Summary of and description of changes in capital available versus APRA minimum required capital for current quarter
(PCA ratio) and forecast for the subsequent eight quarters, including impacts of dividend plans, stress scenarios, and unrealized gain/loss positions. Summary of all applicable rating agency capital positions for current quarter and forecast for the
subsequent eight quarters, including impact of dividend plans, stress scenarios, and unrealized gain/loss positions.	  	ü
  	 	
	 	 	 	
	Dividend Plans	 	Details of dividend plan for current period and forecast for subsequent eight quarters	  	ü
  	 	
	 	
	Investment Management	 	
	 	 	 	
	Monthly Investment Portfolio Holdings Report	 	 	  	ü
  	 	
	 	 	 	
	Monthly Investment Snapshot Report	 	 	  	ü
  	 	
	  
 Clause 3.5(f)(2) - Compliance Activities and
Reporting
  
	 	
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	
Genworth Financial  
Relevant Interest in  

20% or more of  
Outstanding  
Ordinary Shares  
	 	 
	 	 	 	
	Annual Compliance Review	 	Annual compliance review of Genworth Australia utilizing the Genworth One Compliance self-assessment
process	  	ü
  	 	

  
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	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	
Genworth Financial  
Relevant Interest in  

20% or more of  
Outstanding  
Ordinary Shares  
	 	 
	 	 	 	
	Code of Ethics	 	Adopt the Genworth Financial Integrity First Code of Ethics (it being noted that Genworth Australia may also have its
own separate code of ethics provided that such code does not conflict with the Genworth Financial Integrity First Code of Ethics), as it may be amended or modified from time to time. Require, as a condition of employment, that (i) employees of
Genworth Australia provide a written acknowledgement of the Code of Ethics at least once each year (or such other frequency as Genworth Financial requires of its employees generally from time to time) and (ii) employees of Genworth Australia
undertake training in the Code of Ethics, in such manner as Genworth Financial requires of its employees generally from time to time, at least once every two years (or such other frequency as Genworth Financial requires of its employees generally
from time to time). Provide confirmation to Genworth Financial of the foregoing as reasonably requested by Genworth Financial from time to time.	  	ü
  	 	
	 	 	 	
	Conflict of Interest Questionnaires	 	Annually, circulate and obtain completed conflict of interest questionnaires from directors and officers, such
questionnaires to be in the form provided by Genworth Financial from time to time. Provide information about or copies of such completed questionnaires to Genworth Financial upon request	  	ü
  	 	
	 	 	 	
	Customer Complaints	 	Quarterly, provide a report of customer complaints received	  	ü
  	 	
	 	 	 	
	Regulatory Updates	 	Quarterly or as otherwise reasonably requested by Genworth Financial, provide briefings or updates to Genworth
Financial on legal and regulatory affairs reflecting changes and developments applicable to or affecting Genworth Australia and/or the Australian mortgage insurance business	  	ü
  	 	
	 	 	 	
	Ombudsperson Program	 	Adopt and maintain a Genworth Australia Ombudsperson/Whistleblower Program as part of, and in conformity with, the
Genworth Financial Ombudsperson Network Program. The Genworth Australia Ombudsperson(s) shall be selected and trained by the Genworth Corporate Ombudsperson.	  	ü
  	 	

  
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agreement            page 36 

					
	

	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	
Genworth Financial  
Relevant Interest in  

20% or more of  

Outstanding  
Ordinary Shares  
	 	 
	 	 	 	
	Ombudsperson Reports	 	Maintain an ombudsperson and, quarterly or as otherwise reasonably requested by Genworth Financial, provide reports of
complaints, concerns or issues raised with the Genworth Australia ombudsperson	  	ü
  	 	
	 	 	 	
	Notification of Material Ombudsperson Contacts	 	Provide reports of significant or material complaints, concerns or issues raised with the Genworth Australia
ombudsperson within 5 Business Days of the complaint, concern or issue being raised	  	ü
  	 	
	 	 	 	
	Notification of Material Concerns Raised with Directors	 	Provide reports of significant or material complaints, concerns or issues raised directly with the Genworth Australia
board of directors or audit committee of the board of directors, within 5 Business Days of the complaint, concern or issue being raised	  	ü
  	 	
	 	 	 	
	Notification of Material Regulatory Matters	 	Provide reports of significant or material regulatory inquiries, examinations, audits or requests for information
(whether from APRA, security regulatory authorities, other applicable regulatory bodies) within 5 Business Days of becoming aware of the matter. Provide prompt reports of other significant or material regulatory matters. Provide copies of
correspondence and other relevant materials as reasonably requested by Genworth Financial	  	ü
  	 	
	 	 	 	
	Compliance Dashboard/Metric Reporting	 	Quarterly, provide compliance dashboard/metric reporting to Genworth Financial in the format provided prior to the date
of this Agreement, as reasonably modified from time to time by Genworth Financial	  	ü
  	 	
	 	 	 	
	Risk, Capital and Investment Committee	 	Provide copies of all documents and materials provided to or reviewed by the Risk, Capital and Investment Committee of
Genworth Australia (or any successor committee or committee with equivalent function) promptly after delivery of such materials to committee members	  	ü
  	 	
	 	 	 	
	Compliance Training	 	Employees of Genworth Australia must complete company-wide compliance training requirements (i.e. Privacy, AML/CTF,
Records Management) as Genworth Financial requires or otherwise obtain written exception from Chief Compliance Officer to opt-out of such compliance training programs	  	ü
  	 	

  
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agreement            page 37 

					
	

	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	Schedule Name(s)	 	Description (Contents)	  	
Genworth Financial  
Relevant Interest in  

20% or more of  

Outstanding  
Ordinary Shares  
	 	 
	 	 	 	
	Other	 	Copies of regulatory compliance policies, procedures and processes and other materials and information related to
regulatory matters and compliance by Genworth Australia, as reasonably requested by Genworth Financial from time to time	  	ü
  	 	
	 	
	 The foregoing
information and materials shall be provided to the Chief Compliance Officer and such other persons at Genworth Financial as Genworth Financial may designate from time to time.
	 	
	 	
	For purposes of this Schedule 1 Clause 3.5(e)(2),
references to Genworth Australia include Genworth MI Australia Inc. and its subsidiaries from time to time, including Genworth Financial Mortgage Insurance Company Australia.	 	

 Clause 3.8(a) Monthly Financial, Risk and Other Information 

 

							
	 	 	 	
	
Schedule
 Name(s)
	 	Description (Contents)	  	 Genworth  

Financial Relevant  
 Interest in 50% or  
more of  
Outstanding  
Ordinary Shares  
	 	 
	 	
	Monthly Financial Data	 	
	 	 	 	
	US GAAP trial balance ledger feed	 	Prepared for all SEC required reported accounts, including clearing of all validation checks and ensuring any required
new account usage is cleared with the GFI Controller’s Office	  	ü
  	 	
	 	 	 	
	Account reconciliations in Genworth reconciliation system	 	For high risk accounts	  	ü
  	 	
	 	
	Other Monthly Reports	 	
	 	 	 	
	Headcount	 	Name and function of Company employees, contractors and open positions	  	ü
  	 	
	 	 	 	
	Production	 	Actual monthly results and total quarter forecast with variance explanations to Operating Plan	  	ü
  	 	
	 	 	 	
	Loss Mitigation	 	 Details on loss mitigation strategy/efforts and results during the period
along with quarterly forecast for remainder of year and performance to operating plan, including (i) volumes and penetration rates for hardships, (ii) workouts, (iii) borrower sales, (iv) asset management, (v) claims, (vi) rescissions
and
	  	ü
  	 	

  
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	  	Schedule 1    Financial data and other information	 	

  

							
	 	 	 	
	
Schedule
 Name(s)
	 	Description (Contents)	  	 Genworth  

Financial Relevant  
 Interest in 50% or  
more of  
Outstanding  
Ordinary Shares  
	 	 
	 	 	settlements and (vii) recoveries. If requested, respond with information related to any changes to lender’s collections practices	  	 	 	
	 	 	 	  	 	 	
	 	 	 	  	 	 	
	 	 	 	  	 	 	
	 	 	 	
	Underwriting	 	Details on underwriting volumes, SLAs, capacity/productivity metrics and projects to improve underwriting performance
if issues detected	  	ü
  	 	
	 	 	 	
	Master Policy Changes	 	Details on material changes planned or implemented to any master policy	  	ü
  	 	
	 	 	 	
	Driver Based Forecast	 	Business leading indicator trends and quarterly forecast of net operating income for the current year and subsequent
year	  	ü
  	 	
	 	 	 	
	 Short Range Forecast
Submission to TM1 or
 its equivalent
	 	 Forecast of current quarter US GAAP earnings by SEC line item and key
metrics with variance explanations versus Operating Plan
  
	  	ü
  	 	
	 	 	 	
	 Monthly Metric
Submission to TM1 or
 its equivalent
	 	 Key metrics for the current month and forecast of key metrics and US GAAP
SEC income statement and balance sheet for current year and subsequent year
  
	  	ü
  	 	
	 	 	 	
	Operating Reviews	 	Review of economic environment and trends, portfolio metrics, production metrics, US GAAP income statement, including
source of earnings analysis (loss drivers, expense drivers, etc.) for the current quarter forecast with variance explanations versus (i) prior quarter, (ii) same quarter of prior year and (iii) Operating Plan	  	ü
  	 	

  
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agreement            page 39 

					
	

	  	Schedule 2    Employee matters 	 	

  

			
	  
  
 Schedule 2
  
  
	 	
	 Employee matters

 
	 	
	  

(a)      No employees are being transferred from Genworth Financial to Genworth Australia in
connection with the Initial Public Offering or the IPO Agreements. Each party will continue to bear all of its respective responsibilities and liabilities in respect of its own employees (including, for greater certainty, any such employees who are
on a leave of absence at the time of Closing).
  
 (b)      Each party will continue to own and operate its respective employee compensation and benefit plans from and after Closing, subject to the provision of any ‘Services’
as set forth in the Shared Services Agreement, and in the case of Genworth Australia plans, subject to input from Genworth Financial as the majority shareholder. Subject to paragraph (f) below, each party will continue to bear all of its
respective responsibilities and liabilities in respect of its own employee compensation and benefit plans.
  

(c)      Genworth Australia’s employees will cease to be eligible to participate in all
Genworth Financial employee compensation and benefit programs from and after Closing, and Genworth Australia will establish plans for its employees providing benefits to such employees that are, in the aggregate, no less favourable to such employees
as those to which they were entitled under Genworth Financial’s plans as of the Closing Date. Notwithstanding the foregoing:
  

(1)        Genworth Australia will be included in the Genworth Financial 2014 Reach
for Success (“RFS”) and Variable Incentive Compensation (“VIC”) program. Genworth Australia will allocate and pay any RFS or VIC bonuses to such employees at their discretion and based on the achievement of 2014 VIC plan funding
goals and related metrics and individual performance goals.
  
 (2)        Any stock options or stock appreciation rights (collectively, “Australian Options and SARS”) held by Genworth Australia employees under the 2004 Genworth
Financial, Inc. Omnibus Incentive Plan and the 2012 Genworth Financial, Inc. Omnibus Incentive Plan (“the Plans”), which are vested or unvested as of the Closing Date, will be administered in accordance with the Plans and any applicable
Award Agreements. Expenses associated with the granting and exercising of any Australian Options and SARS by Genworth Australia employees will continue to be the responsibility of Genworth Australia as described in the Cost Agreement dated
15 July 2005 (as amended). On the first date on which members of the Genworth Financial Group do not have a Relevant Interest in 10% or more of the outstanding Ordinary Shares, Genworth Australia employees will be considered to have terminated
service from Genworth Financial due to a transfer of business to a successor employer for the purposes of interpreting the Plans and any Award Agreements applicable to any outstanding Australian Options and SARS held by Genworth Australia employees
at that time.
  

(3)        Subject to approval by Genworth Financial board of directors, on the
first date on which members of the Genworth Financial Group do not have a Relevant Interest in 10% or more of the outstanding Ordinary Shares, Genworth Financial will accelerate the vesting, lapse of
	 	

  
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agreement            page 40 

					
	

	  	Schedule 2    Employee matters 	 	

  

			
	 restrictions and conversion to shares of all Genworth Financial Restricted Stock Units that have been held by Genworth
Australia employees (“Australia RSUs”) for at least one year prior to that date.
  

(d)      Genworth Australia will continue to recognize all service credit and unused accrued
leave entitlements of its employees.
  

(e)      Genworth Australia will continue to provide benefits to its employees which are
substantially similar in the aggregate to those in place as at the Closing Date, for one year following the Closing Date and will consult with Genworth Financial in relation to any material changes to those benefits during that period.

 

(f)       Expatriate assignments between Genworth Financial and Genworth Australia in
effect at the time of the Closing may be continued by mutual agreement of the parties up to and beyond the Trigger Date. All expatriate expenses including compensation will be the responsibility of the hosting company.

 
 (g)      Genworth
Financial will continue to provide administrative support for any expatriate assignments between Genworth Financial and Genworth Australia in effect at the time of the Closing or initiated by mutual agreement following the Closing up to and beyond
the Trigger Date. Any administrative costs incurred beyond the Trigger Date will be the responsibility of the hosting company.
  

(h)      To the extent permitted by Applicable Law (including any privacy laws), Genworth
Australia will provide Genworth Financial with up to date employee information for those employees who at the relevant date remain participants in the Plans, RFS Program, VIC Program or other outstanding awards under the Plans as and when Genworth
Financial may reasonably require for its administration and management of those plans.
	 	

  
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agreement            page 41 

			
	

	  	

  

			
	  
  
 Schedule 3
  
	 	
	 ROFR Terms

 
	 	
	  

(a)      The Acquiring Party shall deliver written notice (a Transaction Notice) to
the Non-Acquiring Party forthwith if the Acquiring Party or any of its Affiliates (or any combination thereof) proposes to enter into a Transaction. The Transaction Notice shall set out the material terms of the Transaction, including the date on
which the Transaction is expected to close, the party from whom the Competitive Business is to be acquired (the Vending Party), the conditions precedent to completion of such Transaction and the price to be paid, directly or indirectly, by
the Acquiring Party for, or the value ascribed by the Acquiring Party to, the Competitive Business, in each case determined by the Acquiring Party acting in good faith (the Transaction Price) and shall be accompanied by such legal, financial
and all other information concerning the Competitive Business as is necessary for the Non-Acquiring Party to fully assess the Competitive Business and to make a fully informed decision concerning whether or not to acquire the Competitive Business
(the Business Information); provided that the Non-Acquiring Party shall have executed and delivered to the Vending Party and the Acquiring Party a non-disclosure agreement in form and substance acceptable to the parties, acting reasonably, if
required.
  

(b)      Upon receipt by the Non-Acquiring Party of the Transaction Notice, the accompanying
Business Information and any other information reasonably requested by the Non-Acquiring Party concerning the Competitive Business, the Non-Acquiring Party shall have 60 days to determine whether to acquire the Competitive Business.

 
 (c)      In the event
that the Non-Acquiring Party wishes to exercise its right to acquire, directly or indirectly, the Competitive Business, it shall deliver written notice (an Exercise Notice) to the Acquiring Party on or before such 60th day, which notice shall state (i) the Non-Acquiring Party’s intention to
acquire the Competitive Business, (ii) the party from whom the Non-Acquiring Party proposes to acquire the Competitive Business, (iii) the price at which the Non-Acquiring Party proposes to acquire the Competitive Business, and
(iv) the other terms and conditions of such acquisition, which terms and conditions shall include the conditions precedent to the completion of the Transaction, including receipt of applicable regulatory approvals and other reasonable closing
conditions in favour of the Non-Acquiring Party. If the Non-Acquiring Party fails to deliver an Exercise Notice to the Acquiring Party on or before such 60th day, the Non-Acquiring Party shall be deemed to have waived its right to acquire the Competitive Business and shall be deemed to
have consented to the completion of Transaction on the terms and conditions specified in the Transaction Notice.
  

(d)      In the event that the Non-Acquiring Party elects to acquire the Competitive Business
directly from the Vending Party, the Non-Acquiring Party shall have 90 days to negotiate in good faith the terms of a definitive agreement in respect of such acquisition with the Vending Party. In the event the Non-Acquiring Party elects to acquire
the Competitive Business from the Acquiring Party, the Acquiring Party shall thereafter have 10 Business Days to determine whether or not to accept the offer of the Non-Acquiring Party contained in the Exercise Notice. If the Acquiring Party does
not accept such offer on the terms proposed by the Non-Acquiring Party or fails to accept the offer within such 10 Business Day period, the Parties shall negotiate in good faith to settle the terms of a definitive agreement in
	 	

  
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agreement            page 42 

			
	

	  	

  

					
	 respect of the acquisition by the Non-Acquiring Party, directly or indirectly, of the Competitive Business, provided that the Acquiring Party shall
only be required to give such representations, warranties and indemnities in favour of the Non-Acquiring Party that the Vending Party gives in favour of the Acquiring Party in addition to those that a reasonable Person acquiring the Competitive
Business, after undertaking a comprehensive due diligence investigation of the Competitive Business, would request from the Vending Party.
	 	
	  

(e)      If the Non-Acquiring Party reaches a definitive agreement with respect to the
acquisition of the Competitive Business, the closing of such acquisition shall occur concurrently with or immediately following the closing of the Transaction or at such later time as agreed to between the Non-Acquiring Party and the party or
parties from whom it is making the acquisition.
  
 (f)       If the Non-Acquiring Party is unable to reach a definitive agreement with respect to the acquisition of the Competitive Business with either the Vending Party or the
Acquiring Party, as applicable, within the applicable period specified in clause (d) above, and
	 	
	  

           (1)
	 	  
 the price that the Non-Acquiring Party proposed to pay is
equal to or greater than the Transaction Price, then the Transaction may only proceed if the Competitive Business is excluded from the Transaction or, solely at the option of the Non-Acquiring Party, is sold to the Non-Acquiring Party at a price not
greater than the price that the Non-Acquiring Party proposed to pay for the Competitive Business; or
	 	
	  

           (2)
	 	  
 the price that the Non-Acquiring Party proposed to pay is
less than the Transaction Price in relation to the Competitive Business and an independent valuator has determined that the price proposed to be paid by the Non-Acquiring Party for the Competitive Business is less than the fair market value of the
Competitive Business as determined on the date of the Transaction Notice, then the Acquiring Party may proceed to complete the Transaction on the terms and conditions specified in the Transaction Notice.
	 	
	  

(g)      For the purposes of subclause (f)(2), if the price that the Non-Acquiring Party
proposed to pay is less than the Transaction Price, the Parties shall jointly select a qualified valuator who is independent of each of the Acquiring Party, the Non-Acquiring Party and the Vending Party as soon as practicable following the earlier
of (i) the date that the Non-Acquiring Party notifies the Acquiring Party in writing that it is unable to reach a definitive agreement with either the Vending Party or the Acquiring Party, as applicable, and (ii) the expiry of the
applicable period specified in clause (d) above. The Acquiring Party shall provide or cause to be provided to the valuator as expeditiously as possible, all information reasonably required by the valuator to determine the fair market value of
the Competitive Business as determined on the date of the Transaction Notice within 20 days of its appointment. The costs and expenses of the valuator in preparing the valuation shall be borne 50% by the Non-Acquiring Party and 50% by the Acquiring
Party, provided that if the valuator concludes that the price proposed to be paid by the Non-Acquiring Party is equal to or greater than the fair market value of the Competitive Business as determined on the date of the Transaction Notice, then all
such costs and expenses shall be borne by the Acquiring Party.
  
 (h)      Should any Transaction not be completed within 120 days of the Transaction Notice for any reason or should the terms of the Transaction change from those specified in the
Transaction Notice, the Acquiring Party shall be required to again comply with the provisions of this Schedule 3 should the Acquiring Party wish to proceed with the Transaction or an amended Transaction.
	 	

  
 Shareholder
agreement            page 43 

			
	

	  	

  

	
	  
  

Schedule 4
  
 Genworth Financial Jurisdictions and Lines of Business
  

  

													
	 	 	Country	 	  

Life
Insurance
  
	 	LPI	 	MI/MG	 	Reinsurance  	 	 
		 	Austria	 	 	 	ü	 	ü	 	 	 	
		 	Belgium	 	 	 	ü	 	ü	 	 	 	
		 	Bermuda	 	 	 	 	 	 	 	ü	 	
		 	Brazil	 	 	 	ü	 	 	 	 	 	
		 	Canada	 	 	 	ü	 	ü	 	 	 	
		 	China	 	 	 	ü	 	ü	 	 	 	
		 	Colombia	 	 	 	ü	 	 	 	 	 	
		 	Czech Republic  	 	 	 	ü	 	 	 	 	 	
		 	Denmark	 	 	 	ü	 	ü	 	 	 	
		 	Estonia	 	 	 	ü	 	 	 	 	 	
		 	Finland	 	 	 	ü	 	ü	 	 	 	
		 	France	 	 	 	ü	 	ü	 	 	 	
		 	Germany	 	 	 	ü	 	ü	 	 	 	
		 	Greece	 	 	 	ü	 	 	 	 	 	
		 	Guernsey	 	 	 	 	 	 	 	ü	 	
		 	Hungary	 	 	 	ü	 	ü	 	 	 	
		 	Ireland	 	 	 	ü	 	ü	 	 	 	
		 	India	 	 	 	 	 	ü	 	 	 	
		 	Italy	 	 	 	ü	 	ü	 	 	 	
		 	Latvia	 	 	 	ü	 	 	 	 	 	
		 	Lithuania	 	 	 	ü	 	 	 	 	 	
		 	Luxembourg	 	 	 	ü	 	 	 	 	 	
		 	Mexico	 	 	 	ü	 	ü	 	 	 	
		 	Netherlands	 	 	 	ü	 	ü	 	 	 	
		 	Norway	 	 	 	ü	 	 	 	 	 	
		 	Peru	 	 	 	ü	 	 	 	 	 	
		 	Poland	 	 	 	ü	 	ü	 	 	 	
		 	Portugal	 	 	 	ü	 	ü	 	 	 	

  
 Shareholder
agreement            page 44 

			
	

	  	

  

  

													
	 	 	Country	 	  

Life
Insurance
  
	 	LPI	 	MI/MG	 	Reinsurance  	 	 
		 	Slovakia	 	 	 	ü	 	 	 	 	 	
		 	South Korea	 	 	 	ü	 	ü	 	 	 	
		 	Spain	 	 	 	ü	 	ü	 	 	 	
		 	Sweden	 	 	 	ü	 	ü	 	 	 	
		 	Switzerland	 	 	 	ü	 	 	 	 	 	
		 	Turkey	 	 	 	ü	 	 	 	 	 	
		 	United Kingdom	 	 	 	ü	 	ü	 	ü	 	
		 	United States	 	ü	 	 	 	ü	 	ü	 	

  
 Shareholder
agreement            page 45 

			
	

	  	

  

	
	  
  

Signing page
  

Executed as an agreement
  

  

									
		 	EXECUTED by Genworth Mortgage Insurance Australia Limited ACN 154 890 730:	 		  		  	
		 		 		  		  	
		 	 /s/ Richard Grellman
	 		  	 /s/ Jonathan Downes
	  	
		 	Signature of director	 		  	Signature of director/secretary	  	
					
		 	 RICHARD GRELLMAN
	 		  	 JONATHAN DOWNES
	  	
		 	Name	 		  	Name	  	
		 		 		  		  	
					
		 	SIGNED for Brookfield Life Assurance Company Limited by its duly authorised officer, in the presence of:	 		  		  	
		 		 		  	 /s/ Ward Bobitz
	  	
		 		 		  	Signature of officer	  	
					
		 	 /s/ Theresa A. Myers
	 		  	 WARD BOBITZ
	  	
		 	Signature of witness	 		  	Name	  	
		 		 		  		  	
		 	 THERESA A. MYERS
	 		  		  	
		 	Name	 		  		  	
		 		 		  		  	
					
		 	SIGNED for Genworth Financial International Holdings, Inc. by its duly authorised officer, in the presence of:	 		  		  	
		 		 		  	 /s/ Richard J. Oelhafen, Jr.
	  	
		 		 		  	Signature of officer	  	
					
		 	 /s/ Jonathan Gordon
	 		  	 RICHARD J. OELHAFEN, JR.
	  	
		 	Signature of witness	 		  	Name	  	
					
		 	 JONATHAN GORDON
	 		  		  	
		 	Name	 		  		  	
		 		 		  		  	

  
 Shareholder
agreement            page 46 

					
	

	  	Signing page	 	

  

  

									
		 	SIGNED for Genworth Financial, Inc. by its duly authorised officer, in the presence of:	 		  		  	
		 		 		  		  	
		 		 		  	 /s/ Kevin D. Schneider
	  	
		 		 		  	Signature of officer	  	
					
		 	 /s/ Richard J. Oelhafen, Jr.
	 		  	 KEVIN D. SCHNEIDER
	  	
		 	Signature of witness	 		  	Name	  	
					
		 	 RICHARD J. OELHAFEN, JR.
	 		  		  	
		 	Name	 		  		  	

  
 Shareholder
agreement            page 47

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