8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

(Date of report; date of earliest event reported)

April 16, 2021

(Date of report; date of earliest event reported)

Commission file number: 1-3754

ALLY FINANCIAL INC.

(Exact name of registrant as specified in its charter)

Delaware	38-0572512
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

Ally Financial Inc.

500 Woodward Avenue, Floor 10

Detroit, Michigan 48226

(Address of principal executive offices)

(Zip Code)

(866) 710-4623

(Registrant’s telephone number, including area code)

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

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act (all listed on the New York Stock Exchange):

Title of each class	Trading symbols	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	ALLY	NYSE
8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2 of GMAC Capital Trust I	ALLY PRA	NYSE

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

Emerging growth company ☐

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

Item 2.02 Results of Operation and Financial Condition.

On April 16, 2021, Ally Financial Inc. issued a press release announcing preliminary operating results for the first quarter ended March 31, 2021. The press release is attached hereto and incorporated by reference as Exhibit 99.1. Charts furnished to securities analysts are attached hereto and incorporated by reference as Exhibit 99.2. In addition, supplemental financial data furnished to securities analysts is attached hereto and incorporated by reference as Exhibit 99.3.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Press Release, Dated April 16, 2021
99.2	Charts Furnished to Securities Analysts
99.3	Supplemental Financial Data Furnished to Securities Analysts
104	The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES

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

	Ally Financial Inc.
	(Registrant)
Dated: April 16, 2021	/s/ David J. DeBrunner
	David J. DeBrunner
	Chief Accounting Officer and Controller

EX-99.1

Exhibit 99.1

News release: IMMEDIATE RELEASE

Ally Financial Reports First Quarter 2021 Financial Results

$2.11	21.7%	$796MM	$1.94B
GAAP EPS	RETURN ON EQUITY	GAAP NET INCOME	GAAP TOTAL NET REVENUE
$2.09	24.1%	$790MM	$1.93B
ADJUSTED EPS1	CORE ROTCE1	CORE NET INCOME1	ADJUSTED TOTAL NET REVENUE1

QUARTERLY HIGHLIGHTS •  Consumer auto originations of $10.2 billion | Sourced from 3.3 million decisioned applications   •  7.21% Estimated Retail Auto Originated Yield¹ | Retail auto net charge-off rate of 0.53%, down 91 bps YoY   •  Insurance written premiums of $333 million | Diversified investment income trends remained strong   •  Retail deposits of $128.4 billion, up 21% YoY, and up $4.0 billion QoQ   •  Total retail deposit customers of 2.33 million, up 83 thousand QoQ, and up 14% YoY   •  Ally Home^® direct-to-consumer mortgage originations of $1.8 billion, up 145% YoY   •  Ally Invest net customer assets of $14.5 billion, up 93% YoY | Self-directed accounts up 14% YoY to 425 thousand   •  Ally Lending gross originations of $211 million, up 179% YoY | Active merchant locations up 52% YoY | Retail launch expected in 2Q   •  Corporate Finance held-for-investment portfolio of $6.3 billion, up 5% QoQ | Stable credit, favorable syndication activity   •  Board of directors approved 2Q 2021 common dividend of $0.19 per share | Resumed buybacks under $1.6B FY’21 authorization

CEO COMMENT “Ally’s strong first quarter performance demonstrated our continued ability to navigate the complexities of the pandemic and emerge as a stronger and more resilient company,” said Ally Chief Executive Officer Jeffrey J. Brown. “The perseverance and professionalism of our approximately 9,700 associates drove our success, with our results further supported by improving macroeconomic conditions and the continued re-opening of the economy.   “The impressive momentum we carried into 2021 was fueled by our leading and adaptable auto and digital banking platforms and a culture centered around our promise to ‘Do It Right’ for our customers, employees and communities. This disciplined approach, along with our focus on generating long-term value for all our stakeholders, guides our strategy and positions us for continued success.”

First Quarter 2021 Financial Results

							% Increase/(Decrease) vs.
($ millions except per share data)	1Q 21		4Q 20		1Q 20		4Q 20		1Q 20
GAAP Net Income	$	796	$	687	$	(319)		16%		350%
Core Net Income1	$	790	$	606	$	(166)		30%		576%
GAAP Earning per Common Share	$	2.11	$	1.82	$	(0.85)		16%		348%
Adjusted EPS1	$	2.09	$	1.60	$	(0.44)		31%		574%
Return (NIAC) on GAAP Shareholder’s Equity		21.7%		19.1%		(9.1)%		14%		338%
Core ROTCE1		24.1%		18.7%		(5.4)%		29%		548%
GAAP Total Net Revenue	$	1,937	$	1,981	$	1,412		(2)%		37%
Adjusted Total Net Revenue1	$	1,930	$	1,879	$	1,606		3%		20%
GAAP Common Shareholder’s Equity per Share	$	39.34	$	39.24	$	36.23		0%		9%
Adjusted Tangible Book Value per Share1	$	36.16	$	36.05	$	32.80		0%		10%

¹  The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Adjusted Earnings per Share (Adjusted EPS), Adjusted Total Net Revenue, Core Pre-Tax Income, Core Net Income Attributable to Common Shareholders, Core OID, Core Return on Tangible Common Equity (Core ROTCE), Estimated Retail Auto Originated Yield, Tangible Common Equity, Net Financing Revenue (excluding Core OID) and Adjusted Tangible Book Value per Share (Adjusted TBVPS). These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms, and Reconciliation to GAAP later in this press release.

Discussion of First Quarter 2021 Results

Net income attributable to common shareholders was $796 million in the quarter, compared to net loss attributable to common shareholders of $319 million in the first quarter of 2020, driven by a $13 million provision benefit in the quarter compared to a $903 million provision expense for credit losses in the prior year period, as well as higher other revenue and higher net financing revenue. Net financing revenue was $1.4 billion, up $226 million year-over-year, driven by lower funding costs, higher retail auto revenue and higher gains on off-lease vehicles, partially offset by higher mortgage premium amortization and lower commercial auto portfolio balance and yield. Other revenue increased $299 million year-over-year to $565 million, including a $17 million increase in the fair value of equity securities in the quarter, compared to an $185 million decrease in the fair value of equity securities in the prior year quarter. Other revenue, excluding the change in fair value of equity securitiesA, increased $97 million year-over-year to $548 million, primarily driven by higher realized investment gains and higher gain-on-sale revenue at Ally Home®. Net interest margin (“NIM”) of 3.16%, including Core OIDB of 2 bps, increased 50 bps year-over-year. Excluding Core OIDB, NIM was 3.18%, up 50 bps versus the prior year period, due to lower funding costs, retail auto portfolio yield expansion, and higher gains on off-lease vehicles, partially offset by mortgage premium amortization given elevated prepayment activity and excess liquidity. Provision for credit losses decreased $916 million year-over-year, resulting in a provision benefit of $13 million, primarily due to COVID-19 pandemic-related reserve build in the first quarter of 2020 and lower retail auto net charge-offs. Noninterest expense increased $23 million year-over-year, driven primarily by increased staffing and investments to support the growth of Ally’s businesses.

^A  Adjusted other revenue is a non-GAAP financial measure. Effective 1/1/2018, ASU 2016-01 requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity.

^B  Represents a non-GAAP financial measure. Refer to definitions of Non-GAAP Financial Measures and Other Key Terms and reconciliation to GAAP later in this press release.

First Quarter 2021 Financial Results

								Increase/(Decrease) vs.
($ millions except per share data)	1Q 21		4Q 20		1Q 20			4Q 20		1Q 20
Net Financing Revenue (excluding Core OID)1	$	1,382	$	1,312	$	1,154		$	69	$	227
Core OID		(10)		(9)		(8)			(0)		(1)
(a) Net Financing Revenue	$	1,372	$	1,303	$	1,146		$	69	$	226
Adjusted Other Revenue2		548		567		451			(18)		97
Change in Fair Value of Equity Securities		17		111		(185)			(95)		202
(b) Other Revenue		565		678		266			(113)		299
(c) Provision for Credit Losses		(13)		102		903			(115)		(916)
(d) Noninterest Expense		943		1,023		920			(80)		23
Pre-Tax Income (Loss) (a+b-c-d)	$	1,007	$	856	$	(411)		$	151	$	1,418
Income Tax Expense		211		169		(92)			42		303
Net Income (Loss)	$	796	$	687	$	(319)		$	109	$	1,115
	1Q 21		4Q 20		1Q 20			4Q 20		1Q 20
GAAP EPS (diluted)	$	2.11	$	1.82	$	(0.85)		$	0.29	$	2.96
Core OID, Net of Tax		0.02		0.02		0.02			0.00		0.00
Change in Fair Value of Equity Securities, Net of Tax		(0.03)		(0.23)		0.39			0.20		(0.42)
Adjusted EPS3	$	2.09	$	1.60	$	(0.44	)	$	0.49	$	2.54

(1) Represents a non-GAAP financial measure. Adjusted for Core OID. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

(2) Represents a non-GAAP financial measure. Adjusted for change in the fair value of equity securities due to the implementation of ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(3) Represents a non-GAAP financial measure. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

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Pre-Tax Income by Segment

							Increase/(Decrease) vs.
($ millions)	1Q 21		4Q 20		1Q 20		4Q 20		1Q 20
Automotive Finance	$	803	$	563	$	(173)	$	240	$	976
Insurance		141		183		(105)		(42)		246
Dealer Financial Services	$	944	$	746	$	(278)	$	198	$	1,222
Corporate Finance		53		64		(68)		(11)		121
Mortgage Finance		23		7		12		16		11
Corporate and Other		(13)		39		(77)		(52)		64
Pre-Tax Income from Continuing Operations	$	1,007	$	856	$	(411)	$	151	$	1,418
Core OID1		10		9		8		0		1
Change in Fair Value of Equity Securities2		(17)		(111)		185		95		(202)
Core Pre-Tax Income3	$	1,000	$	754	$	(217)	$	246	$	1,217

(1) Core OID for all periods shown is applied to the pre-tax income of the Corporate and Other segment. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

(2) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(3) Core Pre-Tax Income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations for Core OID, equity fair value adjustments related to ASU 2016-01, and repositioning and other, as applicable. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms later in this press release.

Discussion of Segment Results

Auto Finance

Pre-tax income of $803 million was up $976 million year-over-year, primarily due to a provision benefit in the quarter relative to a provision expense for credit losses in the prior year period, as well as higher net financing revenue.

Net financing revenue of $1.2 billion was $166 million higher year-over-year, driven by higher retail auto revenue and higher gains on off-lease vehicles, partially offset by lower commercial auto portfolio balance and yield. Ally’s retail auto portfolio yield increased 24 bps year-over-year to 6.90%, excluding the impact of hedges.

Provision for credit losses was a $22 million benefit, improving $788 million year-over-year, primarily due a reduction in reserve levels, reflecting strong consumer and commercial performance and improved economic trends, as well as lower retail auto net charge-offs. The retail auto net charge-off rate was 0.53%, down 91 bps year-over-year.

Consumer auto originations increased to $10.2 billion from $9.1 billion in the prior year period, which included $5.7 billion of used retail volume, or 56% of total originations, $3.1 billion of new retail volume, and $1.4 billion of leases. Estimated retail auto originated yield^C in the quarter was 7.21%.

End-of-period auto earning assets decreased $9.9 billion year-over-year from $112.9 billion to $103.0 billion, as an increase in consumer auto earning assets was more than offset by a decline in commercial earning assets. End-of-period consumer auto earning assets were up $2.2 billion year-over-year, driven by growth in retail loans and operating lease assets. End-of-period commercial earning assets of $19.2 billion were $12.2 billion lower year-over-year, driven by industry-wide vehicle inventory declines.

Insurance

Pre-tax income of $141 million was up $246 million year-over-year, primarily due to a $11 million increase in the fair value of equity securities^D during the first quarter compared to a $182 million decline in the fair value of equity securities^D in the prior year period. Core pre-tax income^E was $130 million in the quarter, up $53 million year-over-year, primarily due to higher investment income.

Written premiums were $333 million, up $16 million year-over-year, driven by higher consumer products volume and rate, partially offset by lower COVID-related dealer inventory levels.

Total investment income was $102 million, up $48 million year-over-year, excluding a $11 million increase in the fair value of equity securities during the quarter^D, primarily driven by higher realized equity investment gains.

^CRepresents a non-GAAP financial measure. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

^DASU 2016-01 requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

^ERepresents a non-GAAP financial measure. Excludes equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity. Refer to the definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

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Corporate Finance

Pre-tax income was $53 million in the quarter, up $121 million year-over-year, primarily driven by lower provision for credit losses and higher net revenue.

Net financing revenue increased $3 million year-over-year to $71 million, driven by higher loan balances. Other revenue, excluding the change in fair value of equity securities^F, increased $4 million year-over-year to $21 million, due to higher investment income.

Provision for credit losses totaled $13 million, down $101 million from the prior year period, primarily due to COVID-related reserve build in the first quarter of 2020.

The held-for-investment loan portfolio declined 4% year-over-year from $6.5 billion to $6.3 billion, driven by elevated revolver utilization in the prior year period.

Mortgage Finance

Pre-tax income was $23 million in the quarter, up $11 million year-over-year, as higher other revenue more than offset lower net financing revenue and higher noninterest expense.

Net financing revenue was down $15 million year-over-year to $23 million, reflecting ongoing elevated prepayment activity and associated higher premium amortization. Other revenue increased $30 million year-over-year to $40 million, primarily driven by strong gain-on-sale activity.

Direct-to-consumer originations totaled $1.8 billion in the quarter, up $1.1 billion year-over-year, demonstrating continued momentum in the Ally Home^® business.

Existing Ally Bank deposit customers accounted for 45% of the quarter’s direct-to-consumer origination volume.

Capital, Liquidity & Deposits

Capital

Ally paid a $0.19 per share quarterly common dividend and completed $219 million of share repurchases in the first quarter, including shares withheld to cover income taxes owed by participants related to share-based incentive plans. Ally’s Board of Directors approved a $0.19 per share common dividend for the second quarter of 2021.

Preliminary Common Equity Tier 1 (CET1) capital ratio increased from 10.6% to 11.1% quarter-over-quarter, primarily due to strong net income generation and lower risk-weighted assets.

Liquidity & Funding

Consolidated liquid cash and cash equivalents^G totaled $15.2 billion at quarter-end, up $0.3 billion compared to the end of the fourth quarter of 2020. Total liquidity^H was $43.6 billion at quarter-end.

Deposits represented 87% of Ally’s funding portfolio at quarter-end, increasing from 75% a year ago.

Deposits

Retail deposits increased to $128.4 billion at quarter-end, up $22.3 billion year-over-year and up $4.0 billion for the quarter. Total deposits increased to $139.6 billion at quarter-end, up $17.3 billion year-over-year.

The average retail portfolio deposit rate was 0.81% for the quarter, down 107 bps year-over-year and down 16 bps quarter-over-quarter.

Ally’s retail deposit customer base grew 14% year-over-year, totaling 2.33 million customers at quarter-end. The addition of 83 thousand net new customers drove 53% of retail deposit balance growth during the quarter. Millennials and younger customers continue to comprise the largest generation segment of new customers, accounting for 69% of new customers in the quarter. Approximately 8% of deposit customers maintained an Ally Invest or Ally Home relationship at quarter-end.

^FASU 2016-01 requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

^GCash & cash equivalents may include the restricted cash accumulation for retained notes maturing within the following 30 days and returned to Ally on the distribution date.

^HTotal liquidity includes cash & cash equivalents, highly liquid securities and current committed unused borrowing capacity. See page 18 of the Financial Supplement for more details.

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Definitions of Non-GAAP  Financial Measures and Other Key Terms 

Ally believes the non-GAAP financial measures defined here are important to the reader of the Consolidated Financial Statements, but these are supplemental to and not a substitute for GAAP measures. See Reconciliation to GAAP below for calculation methodology and details regarding each measure.

Adjusted Earnings per Share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) excludes equity fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, (5) excludes significant discrete tax items that do not relate to the operating performance of the core businesses and adjusts for preferred stock capital actions (e.g., Series A and Series G) that have been taken by the company to normalize its capital structure, as applicable for respective periods.

Adjusted Efficiency Ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. In the numerator of Adjusted Efficiency Ratio, total noninterest expense is adjusted for Rep and warrant expense, Insurance segment expense, and repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods. In the denominator, total net revenue is adjusted for Core OID and Insurance segment revenue. See Reconciliation to GAAP on page 7 for calculation methodology and details.

Adjusted Tangible Book Value per Share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for: (1) goodwill and identifiable intangibles, net of DTLs, (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods.

Note: In December 2017, tax-effected Core OID balance was adjusted from a statutory U.S. Federal tax rate of 35% to 21% (“rate”) as a result of changes to U.S. tax law. The adjustment conservatively increased the tax-effected Core OID balance and consequently reduced Adjusted TBVPS as any acceleration of the non-cash charge in future periods would flow through the financial statements at a 21% rate versus a previously modeled 35% rate. See Reconciliation to GAAP on page 7 for calculation methodology and details.

Core Net Income Attributable to Common Shareholders is a non-GAAP financial measure that serves as the numerator in the calculations of Adjusted EPS and Core ROTCE and that, like those measures, is believed by management to help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Core Net Income Attributable to Common Shareholders adjusts GAAP net income attributable to common shareholders for discontinued operations net of tax, tax-effected Core OID expense, tax-effected repositioning and other primarily related to the extinguishment of high-cost legacy debt and strategic activities and significant other, preferred stock capital actions, significant discrete tax items and tax-effected changes in equity investments measured at fair value, as applicable for respective periods. See Reconciliation to GAAP on page 6 for calculation methodology and details.

Core Original Issue Discount (Core OID) Amortization Expense is a non-GAAP financial measure for OID, and is believed by management to help the reader better understand the activity removed from: Core pre-tax income (loss), Core net income (loss) attributable to common shareholders, Adjusted EPS, Core ROTCE, Adjusted efficiency ratio, Adjusted total net revenue, and Net financing revenue (excluding Core OID). Core OID is primarily related to bond exchange OID which excludes international operations and future issuances. See page 7 for calculation methodology and details.

Core Outstanding Original Issue Discount Balance (Core OID balance) is a non-GAAP financial measure for outstanding OID and is believed by management to help the reader better understand the balance removed from Core ROTCE and Adjusted TBVPS. Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. See page 7 for calculation methodology and details.

Core Pre-Tax Income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, and (2) equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, and (3) Repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods. Management believes Core Pre-Tax Income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. See the Pre-Tax Income by Segment Table on page 3 for calculation methodology and details.

Core Return on Tangible Common Equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is based on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share.

(1) In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods.

(2) In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA.

Corporate and Other primarily consists of activity related to centralized corporate treasury activities such as management of the cash and corporate investment securities and loan portfolios, short- and long-term debt, retail and brokered deposit liabilities, derivative instruments, the amortization of the discount associated with new debt issuances and bond exchanges, and the residual impacts of our corporate FTP and treasury ALM activities. Corporate and Other also includes certain equity investments, the management of our legacy mortgage portfolio, and reclassifications and eliminations between the reportable operating segments. Subsequent to June 1, 2016, the revenue and expense activity associated with Ally Invest was included within the Corporate and Other segment. Subsequent to October 1, 2019, the revenue and expense activity associated with Ally Lending was included within the Corporate and Other segment.

Estimated impact of CECL on regulatory capital per final rule issued by U.S. banking agencies - In December 2018, the FRB and other U.S. banking agencies approved a final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, the option to phase in the day-one impact of CECL over a three-year period. In March 2020, the FRB and other U.S. banking agencies issued an interim final rule that became effective on March 31, 2020 and provided an alternative option for banks to temporarily delay the impacts of CECL, relative to the incurred loss methodology for estimating the allowance for loan losses, on regulatory capital. A final rule that was largely unchanged from the March 2020 interim final rule was issued by the FRB and other U.S. banking agencies in August 2020, and became effective in September 2020. For regulatory capital purposes, these rules permitted us to delay recognizing the estimated impact of CECL on regulatory capital until after a two-year deferral period, which for us extends through December 31, 2021. Beginning on January 1, 2022, we will be required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the five-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and plan to phase in the regulatory capital impacts of CECL based on this five-year transition period.

5

Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure determined by calculating the estimated average annualized yield for loans originated during the period. At this time there currently is no comparable GAAP financial measure for Estimated Retail Auto Originated Yield and therefore this forecasted estimate of yield at the time of origination cannot be quantitatively reconciled to comparable GAAP information.

Net Charge-Off Ratios are calculated as annualized net charge-offs divided by average outstanding finance receivables and loans excluding loans measured at fair value and loans held-for-sale.

Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Ally believes that Tangible Common Equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core Return on Tangible Common Equity (Core ROTCE), Tangible Common Equity is further adjusted for Core OID balance and net deferred tax asset. See page 6 for calculation methodology & details.

U.S. Consumer Auto Originations

New Retail – standard and subvented rate new vehicle loans	Used Retail – used vehicle loans
Growth – total originations from non-GM/Chrysler dealers and direct-to-consumer loans	Lease – new vehicle lease originations

Reconciliation to GAAP

Adjusted Earnings per Share
Numerator ($ millions)		1Q 21			4Q 20			1Q 20
GAAP Net Income (Loss) Attributable to Common Shareholders		$	796		$	687		$	(319	)
Core OID			10			9			8
Change in the Fair Value of Equity Securities			(17	)		(111	)		185
Tax on: Core OID & Change in Fair Value of Equity Securities (21% tax rate)			1			21			(41	)
Core Net Income (Loss) Attributable to Common Shareholders	[a]	$	790		$	606		$	(166	)
Denominator
Weighted-Average Common Shares Outstanding - (Diluted, thousands)	[b]		377,529			378,424			375,723
Adjusted EPS	[a] ÷ [b]	$	2.09		$	1.60		$	(0.44	)
Core Return on Tangible Common Equity (Core ROTCE)
Numerator ($ millions)		1Q 21			4Q 20			1Q 20
GAAP Net Income (Loss) Attributable to Common Shareholders		$	796		$	687		$	(319	)
Core OID			10			9			8
Change in Fair Value of Equity Securities			(17	)		(111	)		185
Tax on: Core OID & Change in Fair Value of Equity Securities (21% tax rate)			1			21			(41	)
Core Net Income (Loss) Attributable to Common Shareholders	[a]	$	790		$	606		$	(166	)
Denominator (Average, $ billions)
GAAP Shareholder’s Equity		$	14.7		$	14.4		$	14.0
Goodwill & Identifiable Intangibles, Net of Deferred Tax Liabilities (DTLs)			(0.4	)		(0.4	)		(0.4	)
Tangible Common Equity		$	14.3		$	14.0		$	13.5
Core OID Balance			(1.0	)		(1.0	)		(1.1	)
Net Deferred Tax Asset (DTA)			(0.1	)		(0.1	)		(0.1	)
Normalized Common Equity	[b]	$	13.1		$	12.9		$	12.3
Core Return on Tangible Common Equity	[a] ÷ [b]		24.1	%		18.7	%		(5.4	)%

6

Adjusted Tangible Book Value per Share
Numerator ($ billions)				1Q 21			4Q 20			1Q 20
GAAP Common Shareholder’s Equity				$	14.6		$	14.7		$	13.5
Goodwill and Identifiable Intangible Assets, Net of DTLs					(0.4	)		(0.4	)		(0.4	)
Tangible Common Equity					14.2			14.3			13.1
Tax-effected Core OID Balance (21% starting in 4Q17)					(0.8	)		(0.8	)		(0.8	)
Adjusted Tangible Book Value		[a]		$	13.4		$	13.5		$	12.2
Denominator
Issued Shares Outstanding (period-end, thousands)	[b]			371,805			374,674			373,155
Metric
GAAP Common Shareholder’s Equity per Share				$	39.3		$	39.2		$	36.2
Goodwill and Identifiable Intangible Assets, Net of DTLs per Share					(1.0	)		(1.0	)		(1.2	)
Tangible Common Equity per Share					38.3			38.2			35.0
Tax-effected Core OID Balance (21% starting in 4Q17) per Share					(2.2	)		(2.2	)		(2.2	)
Adjusted Tangible Book Value per Share		[a] ÷ [b]		$	36.2		$	36.1		$	32.8
Adjusted Efficiency Ratio
Numerator ($ millions)				1Q 21			4Q 20			1Q 20
GAAP Noninterest Expense				$	943		$	1,023		$	920
Rep and Warrant Expense					0			(0	)		0
Insurance Expense					(253	)		(246	)		(256	)
Adjusted Noninterest Expense for Adjusted Efficiency Ratio		[a	]	$	690		$	777		$	664
Denominator ($ millions)
Total Net Revenue				$	1,937		$	1,981		$	1,412
Core OID					10			9			8
Insurance Revenue					(394	)		(429	)		(151	)
Adjusted Net Revenue for Adjusted Efficiency Ratio		[b]		$	1,553		$	1,561		$	1,269
Adjusted Efficiency Ratio		[a] ÷ [b]			44.4	%		49.8	%		52.3	%
Original Issue Discount Amortization Expense ($ millions)				1Q 21			4Q 20			1Q 20
Core Original Issue Discount (Core OID) Amortization Expense				$	10		$	9		$	8
Other OID					3			3			3
GAAP Original Issue Discount Amortization Expense				$	12		$	13		$	11
Outstanding Original Issue Discount Balance ($ millions)				1Q 21			4Q 20			1Q 20
Core Outstanding Original Issue Discount Balance (Core OID Balance)				$	(1,018	)	$	(1,027	)	$	(1,055	)
Other Outstanding OID Balance					(34	)		(37	)		(34	)
GAAP Outstanding Original Issue Discount Balance				$	(1,052	)	$	(1,064	)	$	(1,089	)

7

Net Financing Revenue (ex. Core OID)
($ millions)		1Q 21		4Q 20		1Q 20
GAAP Net Financing Revenue		$	1,372	$	1,303	$	1,146
Core OID			10		9		8
Net Financing Revenue (ex. Core OID)	[a]	$	1,382	$	1,312	$	1,154
Adjusted Other Revenue
($ millions)		1Q 21		4Q 20		1Q 20
GAAP Other Revenue		$	565	$	678	$	266
Change in Fair Value of Equity Securities			(17)		(111)		185
Adjusted Other Revenue	[b]	$	548	$	567	$	451
Adjusted Total Net Revenue
($ millions)		1Q 21		4Q 20		1Q 20
Adjusted Total Net Revenue	[a]+[b]	$	1,930	$	1,879	$	1,606

Insurance Non-GAAP Walk to Core Pre-Tax Income
	1Q 2021												1Q 2020
($ millions)     Insurance		GAAP		Core OID		Change in the fair value of equity securities			Non-GAAP1		GAAP			Core OID		Change in the fair value of equity securities		Non-GAAP1
Premiums, Service Revenue Earned and Other	$	281	$	-	$	-		$	281	$	279		$	-	$	-	$	279
Losses and Loss Adjustment Expenses		63		-		-			63		74			-		-		74
Acquisition and Underwriting Expenses		190		-		-			190		182			-		-		182
Investment Income and Other		113		-		(11	)		102		(128	)		-		182		54
Pre-Tax Income from Continuing Operations	$	141	$	-	$	(11	)	$	130	$	(105	)	$	-	$	182	$	77

¹Non-GAAP line items walk to Core Pre-Tax Income, a non-GAAP financial measure that adjusts Pre-Tax Income.

8

Additional Financial Information

For additional financial information, the first quarter 2021 earnings presentation and financial supplement are available in the Events & Presentations section of Ally’s Investor Relations Website at http://www.ally.com/about/investor/events-presentations/.

About Ally Financial Inc.

Ally Financial Inc. (NYSE: ALLY) is a leading digital financial-services company with $181.9 billion in assets as of March 31, 2021. As a customer-centric company with passionate customer service and innovative financial solutions, we are relentlessly focused on “Doing it Right” and being a trusted financial-services provider to our consumer, commercial, and corporate customers. We are one of the largest full-service automotive-finance operations in the country and offer a wide range of financial services and insurance products to automotive dealerships and consumers. Our award-winning online bank (Ally Bank, Member FDIC and Equal Housing Lender) offers mortgage lending, personal lending, and a variety of deposit and other banking products, including savings, money-market, and checking accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs). Additionally, we offer securities-brokerage and investment-advisory services through Ally Invest. Our robust corporate finance business offers capital for equity sponsors and middle-market companies.

For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.

Forward-Looking Statements

This earnings release and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based on company and third-party data available at the time of the release or related communication.

This earnings release and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts — such as statements about future effects of COVID-19 and our ability to navigate them, the outlook for financial and operating metrics and performance, and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future.

Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2020, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent SEC filings.

This earnings release and related communications contain specifically identified non-GAAP financial measures, which supplement the results that are reported according to generally accepted accounting principles (“GAAP”). These non-GAAP financial measures may be useful to investors but should not be viewed in isolation from, or as a substitute for, GAAP results. Differences between non-GAAP financial measures and comparable GAAP financial measures are reconciled in the release.

Unless the context otherwise requires, the following definitions apply. The term “loans” means the following consumer and commercial products associated with our direct and indirect financing activities: loans, retail installment sales contracts, lines of credit, and other financing products excluding operating leases. The term “operating leases” means consumer- and commercial-vehicle lease agreements where Ally is the lessor and the lessee is generally not obligated to acquire ownership of the vehicle at lease-end or compensate Ally for the vehicle’s residual value. The terms “lend,” “finance,” and “originate” mean our direct extension or origination of loans, our purchase or acquisition of loans, or our purchase of operating leases as applicable. The term “consumer” means all consumer products associated with our loan and operating-lease activities and all commercial retail installment sales contracts. The term “commercial” means all commercial products associated with our loan activities, other than commercial retail installment sales contracts. The term “partnerships” means business arrangements rather than partnerships as defined by law.

Contacts:
Daniel Eller	Jillian Palash
Ally Investor Relations	Ally Communications (Media)
704-444-5216	704-644-6201
daniel.eller@ally.com	jillian.palash@ally.com

9

EX-99.2

1Q 2021 Preliminary Results Exhibit 99.2 Ally Financial Inc. 1Q 2021 Earnings Review April 16, 2021 Contact Ally Investor Relations at (866) 710-4623 or investor.relations@ally.com 1

1Q 2021 Preliminary Results Forward-Looking Statements and Additional Information This presentation and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based on company and third-partydata available atthe time of the presentation or related communication. This presentation and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts—such as statements about future effects of COVID- 19 and our ability to navigate them, the outlook for financial and operating metrics and performance, and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2020, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consultfurther disclosures (including disclosures ofa forward-lookingnature) thatwe maymake in any subsequent SEC filings. This presentation and related communications contain specifically identified non-GAAP financial measures, which supplement the results that are reported according to U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures may be useful to investors but should not be viewed in isolation from, or as a substitute for, GAAP results. Differences between non-GAAP financial measures and comparable GAAP financial measures are reconciled in the presentation. Unless the context otherwise requires, the following definitions apply. The term “loans” means the following consumer and commercial products associated with our direct and indirect financing activities: loans, retail installment sales contracts, lines of credit, and other financing products excluding operating leases. The term “operating leases” means consumer- and commercial-vehicle lease agreements where Ally is the lessor and the lessee is generally not obligated to acquire ownership of the vehicle at lease-end or compensate Ally for the vehicle’s residual value. The terms “lend,” “finance,” and “originate” mean our direct extension or origination of loans, our purchase or acquisition of loans, or our purchase of operating leases, as applicable. The term “consumer” means all consumer products associated with our loan and operating-lease activities and all commercial retail installment sales contracts. The term “commercial” means all commercial products associated with our loan activities, other than commercial retail installment sales contracts. The term “partnerships” means business arrangements rather than partnerships as definedbylaw. 2

1Q 2021 Preliminary Results GAAP and Core Results: Quarterly ($ millions except per share data) 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 GAAP net income (loss) attributable to common shareholders (NIAC) $ 796 $ 687 $ 476 $ 241 $ (319) (1)(2) Core net income (loss) attributable to common shareholders $ 790 $ 606 $ 473 $ 228 $ (166) GAAP earnings per common share (EPS) (basic or diluted as applicable, NIAC) $ 2.11 $ 1.82 $ 1.26 $ 0.64 $ (0.85) (1)(3) Adjusted EPS $ 2.09 $ 1.60 $ 1.25 $ 0.61 $ (0.44) Return (NIAC) on GAAP shareholder's equity 21.7% 19.1% 13.6% 7.1% -9.1% (1)(4) Core ROTCE 24.1% 18.7% 15.2% 7.6% -5.4% GAAP common shareholder's equity per share $ 39.34 $ 39.24 $ 37.78 $ 36.98 $ 36.23 (1)(5) Adjusted tangible book value per share (Adjusted TBVPS) $ 36.16 $ 36.05 $ 34.56 $ 33.73 $ 32.80 Efficiency ratio 48.7% 51.6% 53.7% 61.2% 65.2% (1)(6) Adjusted efficiency ratio 44.4% 49.8% 47.3% 52.5% 52.3% GAAP total net revenue $ 1,937 $ 1,981 $ 1,684 $ 1,609 $ 1,412 (1)(7) Adjusted total net revenue $ 1,930 $ 1,879 $ 1,680 $ 1,528 $ 1,606 Effective tax rate 21.0% 19.7% 24.8% 28.2% 22.5% (1) The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Adjusted earnings p er share (Adjusted EPS), Core pre-tax income (loss), Core net income (loss) attributable to common sh arehold ers, Core return on tangible common equity (Core ROTCE), Adjusted efficiency ratio, Adjusted total net revenu e, Net financing revenue (excluding Core OID), Adjusted other revenue, Adjusted noninterest expense, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balan ce), and Adjusted t angible book valu e per share (Adjust ed TBVPS). These measures are used by management and we believe are useful to investors in assessing thecompany’s operating performance and capital. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms, and Reconciliation to GAAP later in this document. (2) Core net income (loss) attributable to common shareholders is a non-GAAP financial measure. See page 28 for definition and 29 for calculation methodology. (3) Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure. See page 29 for definition and calculation methodology. (4) Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure. See page 31 for definition and calculation methodology. (5) Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure. See page 30 for definition and calculation methodology. (6) Adjusted efficiency ratio is a non-GAAP financial measure. See page 32 for definition and calculation methodology. (7) Adjusted total net revenue is a non-GAAP financial measure. See page 34 for calculation methodology. 3

1Q 2021 Preliminary Results Ally: Consistent Priorities and Focus ‘Do It Right’ Culture and Values Customers: Relentless customer-focus | Dealers, consumers & commercial clients Employees: Continuous prioritization of the well-being of our teammates Communities: Driving meaningful and lasting change, including through the Ally Foundation Driving long-term, enhanced value for all of our stakeholders 4

1Q 2021 Preliminary Results 1Q 2021 Highlights Delivering Results | Long-term Focus $ % % $ 24.1 1.93B 11.1 2.09 Core Adjusted Adjusted Total Preliminary CET1 (1) (1) (1) EPS ROTCE Net Revenue Capital Ratio ▪ Resumed buybacks in 1Q, on track with 2021 share repurchase program of up to $1.6B | Announced 2Q dividend of $0.19 Auto & Insurance: Leading, Adaptable Partner | Comprehensive Capabilities & Products ▪ Consumer auto originations of $10.2B | Sourced from 3.3M decisioned applications (2) ▪ 7.21% estimated retail auto originated yield | 0.53% retail auto net charge-offs ▪ Insurance written premiums of $333M | Diversified investment income trends remained strong Ally Bank: Leading, All-Digital Platform | Ongoing Momentum Across Products ▪ $128.4B retail deposit balances, ↑ 21% YoY | 1Q’21 retail growth of $4.0B | 2.33M deposit customers, ↑ 14% YoY ▪ Ally Home®: $1.8B direct-to-consumer originations, ↑ 145% YoY ▪ Ally Invest: $14.5B net customer assets, ↑ 93% YoY | 425k self-directed accounts, ↑ 14% YoY ▪ Ally Lending: $211M gross originations, ↑ 179% YoY | Active merchant locations ↑ 52% YoY | Retail launch expected in 2Q ▪ Corporate Finance: $6.3B HFI portfolio, ↑ 5% QoQ | Stable credit, favorable syndication activity (1) Represents a non-GAAP financial measure. See pages 29, 31, and 34 for calculation methodology and details. (2) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure. See page 28 for details. Note: Ally Bank, Member FDIC and Equal Housing Lender, offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, including savings, money-market, and checking accounts, CDs, and IRAs. Additionally, we offer securities-brokerage and investment-advisory services through Ally Invest. 5

CECL Day 1 Impact: $2.7/share 1Q 2021 Preliminary Results Quarterly Core Metric Trends (1) (2) Adjusted Earnings Per Share Adjusted Total Net Revenue ($ millions) $1,930 $2.09 $1,879 $1.60 $548 $1,680 $567 $1.25 $1,620 $1,622 $1,606 $1,556 $1,557 $1,535 $1,521 $1,528 $1.01 $471 $0.97 $0.95 $0.92 $0.91 $1,471 $424 $1,463 $458 $0.83 $451 $0.80 $393 $393 $396 $0.68 $392 $0.61 $356 $465 $394 $1,382 $1,312 $1,209 $1,195 $1,163 $1,164 $1,164 $1,154 $1,139 $1,129 $1,115 $1,069 $1,063 ($0.44) 1Q 18 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 1Q 18 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Net financing revenue (ex. Core OID) Adjusted other revenue (1) Represents a non-GAAP financial measure. See page 29 for calculation methodology and details. (2) Represents a non-GAAP financial measure. See page 34 for calculation methodology and details. (3) Total Deposits Adjusted Tangible Book Value per Share ($ billions) $140 $137 $36.2 $135 $36.1 $131 $35.1 $34.7 $34.6 $122 $121 $11 $119 $13 $116 $33.7 $33.6 $14 $113 $15 $32.8 $106 $101 $16 $99 $17 $31.4 $97 $18 $18 $18 $29.9 $17 $17 $16 $17 $28.6 $28.1 $27.4 $128 $124 $121 $116 $106 $104 $101 $99 $95 $89 $85 $82 $82 1Q 18 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 1Q 18 2Q 18 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Retail Deposits Brokered / Other (3) Represents a non-GAAP financial measure. See page 30 for calculation methodology and details. Note: Brokered includes sweep deposits. Other includes mortgage escrow and other deposits. Numbers may not foot due to rounding. 6

1Q 2021 Preliminary Results Ally Auto & Insurance: Agile Market Leader # # # 1 1 1 Top-3 Leading Prime Auto Bank Floorplan Retail Auto Loan Used Auto Insurance Provider (4) (1) (2) (3) Lender Lender Outstandings Lender (F&I, P&C Products) Extensive Dealer Reach Enhanced Tech, Data & Digital Skilled, Experienced Teams Engage 95%+ of U.S. Franchised Dealers Digital Self-Service Customer Portals Dedicated Underw riters & Field Reps Partnering w ith emerging players (e.g., Carvana) All-Digital SmartAuction Platform Focused Customer Care & Servicing Ops Dealer Relationships Consumer Applications High-Touch + High-Tech Capabilities Active U.S. Dealers Annual Decisioned Volume Approved Apps: Auto-Decision % 19.0K +53% 12.1M +3.2X 69% +30pp 10.6M 16.2K 39% 3.7M 26% 12.4K 2010 2015 2020 2010 2015 1Q 21 2010 2015 1Q 21 Large, Addressable U.S. Auto Market High Consumer Utility and Priority Auto Debt portion of Auto Loan & Lease Auto Payment Priority within Annual Loan & Lease # # $ $ or (7) (5) 9-10% (8) (6) 1 2 1.3T Total Consumer Debt Outstanding Balances 600B+ Consumer Payment Waterfall Origination Volume Note: see page 36 for footnotes. 7

1Q 2021 Preliminary Results Ally Bank: Leading, Growing, All-Digital Disruptor # $ 1 12 48 128B Largest All-Digital, Retail Deposit Consecutive Years Consecutive Quarters (1) Direct U.S. Bank Balances of Deposit Growth of Customer Growth Ally Bank Customers Ally Invest Retail Depositors: Consistent, accelerating growth New Funded Accounts: 50-60% sourced from existing depositors 2.33M 425K 20%+ CAGR +86% 324K 228K Acquired: 1Q'18 1Q'20 1Q'21 2010 2016 1Q 21 2Q'16 Ally Home Ally Lending $ Originations: 45-60% sourced from existing depositors PoS Originations: Healthcare (4Q'19), Home Improvement (2Q'20) & Retail (est. 2Q'21) $1.8B $211M +6X FY’17 +159% $82M $0.3B Launched: 1Q'18 1Q'20 1Q'21 Acquired: 1Q'20 4Q'20 1Q'21 1Q'17 4Q'19 Ongoing momentum demonstrates Ally’s strong value and established brand (1) see page 36 for footnotes. Note: Ally Bank, Member FDIC and Equal Housing Lender, offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, including savings, 8 money-market, and checking accounts, CDs, and IRAs. Additionally, we offer securities-brokerage and investment-advisory services through Ally Invest.

1Q 2021 Preliminary Results 1Q 2021 Financial Results Inc / (Dec) v. ($ millions; except per share data) 1Q 21 4Q 20 1Q 20 4Q 20 1Q 20 (1) $ 1,382 $ 1,312 $ 1,154 $ 69 $ 227 Net financing revenue (ex. Core OID) (1) (1 0) (9) (8 ) (0) (1) Core OID Net financing revenue $ 1,372 $ 1,303 $ 1,146 $ 69 $ 226 (1) Adjusted other revenue 548 567 451 (18) 97 (2) 17 111 (1 85) (95) 202 Change in fair value of equity securities Other revenue 565 678 266 (113) 299 Provision for credit losses (13) 102 903 (115) (916) Noninterest expense 943 1,023 920 (80) 23 Pre-tax income (loss) $ 1,007 $ 856 $ (411) $ 151 $ 1 ,418 Income tax expense 211 169 (9 2) 42 303 Net income (loss) $ 796 $ 687 $ (319) $ 109 $ 1,115 GAAP EPS (diluted) $ 2 .11 $ 1.82 $ ( 0.85) $ 0.29 $ 2.96 Core OID, net of tax 0 .02 0.02 0.02 0.00 0.00 Change in fair value of equity securities, net of tax (0.03) (0.23) 0 .39 0.20 (0.42) (3) $ 2 .09 $ 1.60 $ ( 0.44) $ 0.49 $ 2.54 Adjusted EPS (1) Represents a non-GAAP financial measure. For calculation methodology see page 33. (2) See page 35 for details. (3) Represents a non-GAAP financial measure. For calculation methodology see page 29. 9

1Q 2021 Preliminary Results Balance Sheet and Net Interest Margin 1Q 21 4Q 20 1Q 20 ($ millions) Average Average Average Balance Yield Balance Yield Balance Yield Retail Auto Loan $ 73,500 6.66% $ 73,401 6.57% $ 72,550 6.54% Retail Auto Loan (ex. hedge impact) 6.90% 6.83% 6.66% Auto Lease (net of depreciation) 9,831 8.57% 9,587 7.82% 9,078 5.22% Commercial Auto 21,341 3.49% 22,418 3.34% 30,472 4.11% Corporate Finance 6,338 5.14% 6,203 5.69% 6,088 6.27% (1) 14,310 2.74% 15,445 2.74% 17,296 3.45% Mortgage (2) 444 14.95% 366 16.68% 225 13.52% Consumer Other Cash and Cash Equivalents 15,363 0.10% 17,758 0.10% 4,853 1.16% Investment Securities & Other 34,996 1.55% 33,331 1.70% 32,858 2.79% Total Earning Assets $ 176,123 4.44% $ 178,509 4.34% $ 173,420 4.88% (3)(6) Unsecured Debt $ 12,910 5.42% $ 12,735 5.45% $ 12,182 6.32% Secured Debt 3,793 3.35% 5,289 3.07% 9,193 2.82% (4) 137,718 0.90% 135,642 1.08% 121,217 1.97% Deposits (5) 6,307 2.47% 9,462 2.18% 17,302 2.34% Other Borrowings (3) $ 160,728 1.38% $ 163,128 1.55% $ 159,894 2.39% Total Funding Sources (3) 3.18% 2.92% 2.68% NIM (ex. Core OID) NIM (as reported) 3.16% 2.90% 2.66% (1) Mortgage includes held-for-investment (HFI) loans from the Mortgage Finance segment and the HFI legacy mortgage portfolio in run-off at the Corporate and Other segment. (2) ‘Consumer Other’ consists of unsecured consumer lending from point-of-sale financing. (3) Represents a non-GAAP financial measure. Excludes Core OID and Core OID balance. See page 34 calculation methodology. (4) Includes retail, brokered (inclusive of sweep deposits) and other deposits (inclusive of mortgage escrow and other deposits). (5) Includes: Demand Notes (Ally terminated the demand note program and redeemed all outstanding demand notes​, Ally had $2.1B of outstandings asof 12/31/2020), FHLB borrowings and Repurchase Agreements. (6) Includes trust preferred securities. 10

1Q 2021 Preliminary Results Deposits • Total Deposits of $140 billion, up 14% YoY Retail Deposit Balances ($ billions, EoP) Retail Brokered / Other Customer Retention Rate – Retail deposits of $128 billion, up $4 billion QoQ $140 $137 $135 – Brokered deposits declined $5 billion YoY $131 $122 $11 $13 $14 $15 $16 • 2.33 million retail deposit customers, up 14% YoY 96% 96% 96% 96% 96% – Customer retention of 96% remained strong $128 $124 $121 $116 $106 – 83 thousand net new customers drove 53% of balance growth in 1Q 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 – 69% of 1Q new customers and 53% of total customers from Millennial and younger generations Note: Brokered includes sweep deposits. Other includes mortgage escrow and other deposits. See page 35 for Customer Retention Rate definition. Numbers may not foot due to rounding. Deposit Mix & Retail Portfolio Rate Retail Deposit Customers Multi-relationship customers (thousands) Brokered / Other Retail CD MMA/OSA/Checking Avg. Retail Portfolio Interest Rate 2,334 83 39 78 3.00% 94 71 30 2.50% 72 49% 62% 58% 53% 56% 100 2.00% 120 1.88% 72 1.64% 57 1.50% 41 59 1.26% 41 52 1.00% 38% 0.97% 49 8% 36% 0.81% 28 56 7% 1,105 34% 33% 41 5% 0.50% 43 3% 30% 2% 13% 11% 10% 9% 8% 0.00% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2016 2017 2018 2019 2020 '21 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Note: Brokered includes sweep deposits. Other includes mortgage escrow and other deposits. Note: Multi-relationship customers represent Deposit Customers with an Ally Invest or Ally Home relationship. 11

1Q 2021 Preliminary Results Capital Ratios and Shareholder Distributions • Preliminary 1Q 2021 CET1 ratio of 11.1% Capital Ratios and Risk-Weighted Assets ($ billions) • Ally Board of Directors approved 2Q 2021 common 14.6% 14.1% 14.1% 13.8% dividend of $0.19 per share 12.8% 12.8% 12.4% 12.1% 11.9% 11.1% 10.9% 10.6% 10.4% 10.1% 9.3% • Resumed share buyback program in 1Q 2021 (1) $146 – Aligned with Federal Reserve guidelines, Ally repurchased $219 $140 $137 $138 $139 million of common shares during 1Q; remain on track to execute 2021 share repurchase program of up to $1.6 billion 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Risk-Weighted Assets ($B) Total Capital Ratio Tier 1 Ratio CET1 Ratio – Federal Reserve intends to end temporary restrictions on dividends & share repurchase activity after June 30th, 2021 Note: For more details on the final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 35 for details. Capital Deployment Actions Outstanding Shares (# millions) Dividend Per Share 19¢ 19¢ 19¢ 19¢ 19¢ 17¢ 17¢ 17¢ 17¢ 15¢ 15¢ 13¢ 13¢ 12¢ 12¢ 484 475 467 462 452 444 437 433 426 417 405 400 393 384 374 373 374 374 375 372 8¢ 8¢ 8¢ 8¢ 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2016 2017 2018 2019 2020 '21 2016 2017 2018 2019 2020 '21 12 (1) Repurchased common shares include shares withheld to cover income taxes owed by participants related to share-based incentive plans. Excludes commissions.

1Q 2021 Preliminary Results Asset Quality: Key Metrics Consolidated Net Charge-Offs (NCOs) Net Charge-Off Activity Allowance as % of Annualized NCOs Annualized NCO Rate ($ millions) Variance 900% 0.91% 0.90% Net Charge-Offs 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 850% 0.84% 800% 0.83% 0.80% 750% Retail Auto $ 271 $ 262 $ 137 $ 117 $ 186 $ 97 700% 0.70% 0.67% 650% 600% Commercial Auto 10 2 1 4 7 - 0.60% 0.58% 550% 0.56% 500% 0.50% Mortgage Finance - - - 1 2 1 450% 0.41% 400% 0.41% 0.40% 350% Corporate Finance 6 - 38 - (1) 14 691% 667% 300% 0.30% 250% 471% 200% 0.20% Ally Lending 5 4 4 2 4 8 414% 150% 305% 100% 0.10% (1) 176% Corp/Other (2) (2) (2) (2) - (2) 119% 50% 109% 0% 0.00% Total $ 290 $ 266 $ 178 $ 122 $ 198 $ 118 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Note Ratios exclude loans measured at fair value and loans held-for-sale. (1) Corp/Other includes legacy Mortgage HFI portfolio. Retail Auto Net Charge-Offs Retail Auto Delinquencies (60+ DPD) 1.00% $500 $480 1.49% $460 1.44% $440 1.38% $420 $400 0.75% $380 0.66% 0.66% $360 $340 0.58% 0.56% $320 0.50% $300 0.47% 0.47% 1.01% $280 $260 $540 0.95% $240 $480 $478 $271 0.32% $220 $262 $428 $253 $405 $200 $350 $341 $180 0.76% $160 $233 $140 $172 $120 0.64% $186 $100 0.00% $137 0.53% $80 $117 $60 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 $40 $97 $20 $0 Delinquent Contracts ($M) Delinquency Rate 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 30+ DPD ($M and %) Net Charge-Offs ($M) Annualized NCO Rate 2.90% 3.32% 3.61% 3.19% 2.20% 2.25% 2.49% 1.43% $2,113 $2,428 $2,616 $2,322 $1,599 $1,658 $1,834 $1,059 Note: See page 35 for definition. Note: Includes accruing contracts only. Days-past-due (“DPD”) 13

1Q 2021 Preliminary Results Asset Quality: Coverage and Reserves Consolidated Coverage Ratio Retail Auto Coverage Ratio ($ billions) Reserve - $ Reserve - % ($ billions) Reserve - $ Reserve - % 2.87% 2.85% 2.78% 2.79% 4.09% 4.06% 2.54% 3.95% 3.91% 3.80% 2.03% 3.34% 0.99% $3.0 $3.0 $2.9 $2.8 $2.8 $3.4 $3.4 $3.2 $3.3 $3.2 1.49% $2.4 $2.6 $1.1 $1.3 4Q 19 CECL 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 4Q 19 CECL 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Day 1 Day 1 Note: coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. Note: coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. Consolidated QoQ Reserve Walk ($ millions) All Other Incl. Net Charge-off ∆ in Portfolio 1 2 3 4Q’201Q’21 Macroeconomic Activity Size Reserve Reserve ($118) 1Q’21 NCOs $21 ($152) $3,152 $3,283 Primarily Favorable ↑ Retail Auto, ↑ Ally Lending, $118 Replenished Macro-economic Trends partly offset by ↓ Floorplan 14

1Q 2021 Preliminary Results Auto Finance Inc / (Dec) v. • Pre-tax income of $803 million, up $976 million YoY and up Key Financials ($ millions) 1Q 21 4Q 20 1Q 20 $240 million QoQ Net financing revenue $ 1,206 $ 53 $ 166 Total other revenue 62 6 15 – Net financing revenue up YoY and QoQ due to higher retail revenue and higher off-lease vehicle gains Total net revenue 1,268 59 181 Provision for credit losses (22) ( 108) (788) (1) – Provision expense reflects strong consumer and commercial Noninterest expense 487 (73) (7) performance and improved economic trends Pre-tax income $ 803 $ 240 $ 976 U.S. auto earning assets (EOP) $ 1 02,978 $ (3,245) $ (9,939) • Earning assets of $103.0 billion, down $9.9 billion YoY and Key Statistics down $3.2 billion QoQ Remarketing gains ($ millions) $ 64 $ (1) $ 62 Average gain per vehicle $ 2,114 $ (36) $ 1,993 – Commercial balances mainly driven by lower industry inventory levels Off-lease vehicles terminated (# units) 3 0,488 8 1 0,069 Application Volume (# thousands) 3,284 480 298 • Average gain per vehicle reflects strong consumer demand and lower industry inventories Retail Auto Trends Lease: Average Gain / (Loss) per Vehicle (2) Portfolio Yield (ex. hedge) Est. Retail Auto Originated Yield Retail Auto NCO % 2019 2020 2021 7.59% 7.55% 7.50% $3.0k 7.25% 7.21% 7.10% 7.07% 6.95% 6.81% $2.0k 6.90% 6.83% 6.83% 6.77% 6.74% 6.66% 6.66% 6.57% 6.46% $1.0k $0.0k 1.49% 1.44% 1.38% 1.32% 1.01% 0.95% 0.76% 0.64% 0.53% ($1.0k) 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec (1) For additional footnotes see page 36. 15 (2) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure. See page 28 for details. Thousands

1Q 2021 Preliminary Results Auto Finance Key Metrics Consumer Originations Consumer Origination Mix ($ billions; % of $ originations) (% of $ originations) 691 687 690 686 685 685 $9.8 $10.2 $9.1 $9.1 49% 51% 55% 55% 56% $8.1 60% $7.2 51% 50% 48% 50% 44% 14% 13% 50% 13% 14% 13% 12% 27% 29% 29% 37% 29% 26% 32% 36% 31% 31% 28% 28% 12% 12% 12% 27% 24% 21% 23% 22% 11% 9% 22% 9% 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 New Retail Lease Used Nonprime % of Total Retail GM Stellantis Growth Retail Auto - Weighted average FICO Note: See page 35 for definitions. Note: See page 35 for definition. Consumer Assets Commercial Assets (Average balance, $ billions) (End of period, $ billions) $83.8 $82.9 $83.1 $81.1 $81.5 $81.5 $31.9 $9.9 $9.5 $9.6 $30.5 $9.1 $8.9 $9.1 $26.1 $5.6 $5.3 $22.4 $21.3 $21.3 $5.9 $5.8 $5.9 $5.7 $72.3 $72.5 $72.4 $73.5 $73.4 $73.8 $26.3 $25.1 $20.2 $16.6 $15.4 $15.6 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Retail Lease Dealer Floorplan Other Dealer Loans Note: Held-for-investment (HFI) asset balances reflect the average daily balance for the quarter. 16

1Q 2021 Preliminary Results Insurance Inc / (Dec) v. • Pre-tax income of $141 million, up $246 million YoY and Key Financials ($ millions) 1Q 21 4Q 20 1Q 20 down $42 million QoQ reflecting change in fair value of Premiums, service revenue earned and other $ 281 $ (9) $ 2 equity securities VSC Losses 30 (2) (2) (1) • Core pre-tax income of $130 million, up $53 million YoY Weather Losses 6 4 (9) and up $57 million QoQ Other Losses 27 (1) - Losses and loss adjustment expenses 63 1 (11) – Earned premiums up YoY driven by consumer products, partially (2) Acquisition and underwriting expenses 190 6 8 offset by lower vehicle inventory exposure Total underwriting income (loss) 28 (16) 5 (1) – Seasonally higher reinsurance costs QoQ; renewed 2021 Investment income and other (adjusted) 102 73 48 reinsurance policy at favorable terms in early April (1) Core pre-tax income $ 130 $ 57 $ 53 (3) Change in fair value of equity securities 11 (99) 193 – Losses down YoY driven by lower weather losses Pre-tax income $ 141 $ ( 42) $ 246 – Investment income reflects higher realized investment gains Total assets (EOP) $ 9,221 $ 84 $ 801 primarily from equities portfolio Key Statistics - Insurance Ratios 1Q 21 4Q 20 1Q 20 • Written premiums of $333 million in 1Q 2021 Loss ratio 22.4% 21.6% 26.5% Underwriting expense ratio 67.1% 63.5% 65.1% – Reflects higher consumer products volume and rate partially offset Combined ratio 89.5% 85.1% 91.6% by lower vehicle inventories Insurance Investment Portfolio Insurance Written Premiums ($ billions, EOP) (($ $ m miilllilo io nn ss )) Fixed Income Securities Equity Securities Cash & Cash Equivalents and Other $390 $357 $370 $335 $333 $333 $350 $317 $314 $312 $6.3 $305 $330 $298 $310 $5.1 $5.2 $1.2 $267 $290 $0.9 $1.1 $270 $1.0 $250 $0.8 $0.9 $230 $4.0 $210 $3.2 $3.4 $190 $170 $150 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 (1) Represents a non-GAAP financial measure. See page 33 for calculation methodology and details. 17 For additional footnotes see page 36.

1Q 2021 Preliminary Results Corporate Finance Inc / (Dec) v. • Pre-tax income of $53 million, up $121 million YoY and down Key Financials ($ millions) 1Q 21 4Q 20 1Q 20 $11 million QoQ Net financing revenue $ 71 $ (8) $ 3 – Net financing revenue down QoQ due to prepayment activity (1) Adjusted total other revenue 21 4 4 (1) – Other revenue up QoQ from higher investment income Adjusted total net revenue 92 (4) 7 Provision for credit losses 13 4 (101) – Provision decrease YoY driven primarily by COVID-19 macroeconomic (2) Noninterest expense 31 8 (4) impacts in the prior year (1) Core pre-tax income $ 48 $ ( 16) $ 112 • $6.3 billion held-for-investment portfolio, down 4% YoY (3) Change in fair value of equity securities 5 5 9 driven by elevated PY revolver utilization Pre-tax income $ 53 $ ( 11) $ 121 – Growth in unfunded commitments reflects steady originations; Total assets (EOP) $ 6,421 $ 313 $ (151) utilization levels remain low, supporting future loan growth – Credit remains strong – criticized and non-accrual loans below historical averages Key % % HFI Loans and Unfunded Commitments % 52 99.9 ~70 (end of period balances, $ billions) Portfolio Asset Based First Loans with Lending Lien Libor Floors Metrics Outstandings by Industry (as of 3/31/21) $4.7 Chemicals & Wholesale Construction Services Paper Printing & $4.1 Metals 3% Other 2% $2.5 $3.5 $3.8 Publishing 7% 1% 1% Other Manufactured Prod. Food And 3% Beverages 2% Manufacturing Machinery. Equip. Elect. 5% $6.5 $6.3 Financial Services $6.0 $6.0 $5.9 Auto & 24% Transportation 10% Other Retail Trade 1% 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Health Services Other Services 21% Held-for-investment loans Unfunded Commitments 20% (1) Represents a non-GAAP financial measure. See page 33 for calculation methodology and details. 18 For additional footnotes see page 36.

1Q 2021 Preliminary Results Mortgage Finance • Pre-tax incomeof $23 million, up $11 million YoY and up Inc / (Dec) v. $16 million QoQ Key Financials ($ millions) 1Q 21 4Q 20 1Q 20 Net financing revenue $ 23 $ 3 $ ( 15) – Net financing revenue declined YoY reflecting ongoing elevated Total other revenue 40 3 30 prepayment activity Total net revenue $ 63 $ 6 $ 15 Provision for credit losses (4) (7) (5) (1) – Other revenue up YoY reflecting strong gain-on-sale margins Noninterest expense 44 (3) 9 Pre-tax income $ 23 $ 16 $ 11 Total assets (EOP) $ 12,923 $ (1,966) $ (3,212) • Direct-to-consumer (DTC) originations of $1.8 billion in 1Q 2021, up 145% YoY Mortgage Finance HFI Portfolio 1Q 21 4Q 20 1Q 20 Net Carry Value ($ billions) $ 12.4 $ 14.6 $ 15.9 – 45% of 1Q originations from Ally Bank deposit customers (2) 57.5% 60.1% 60.0% Wtd. Avg. LTV/CLTV Refreshed FICO 775 776 772 – 83% of origination units from refinance activity, up 17% YoY Mortgage Finance DTC Originations Mortgage Finance Held-for-Investment Assets ($ billions, EOP) ($ billions) ($ billions) $1.8 $16.4 $15.9 $15.2 $14.6 $1.4 $12.4 $3.9 $3.5 $1.3 $1.2 $3.9 58% $3.9 $3.9 62% $0.7 55% 66% $12.4 $12.6 41% $11.3 $10.7 $8.5 42% 45% 38% 59% 34% 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 DTC - HFI DTC - HFS Bulk DTC For footnotes see page 36. 19

1Q 2021 Preliminary Results Financial Outlook Steady execution, delivering against our long-term strategic objectives (1) Progression of Core ROTCE 1Q’21 Reserve Reduction Sustained, Organic Growth ~15% 15%+ Ongoing Optimization ✓ Positive Operating Leverage ✓ Strong Q1’21 results ✓ Expanding NIM (Mid 3%) and Net ✓ Positive Operating Leverage Financing Revenue ✓ Expanding NIM (Lo/Mid 3%) and✓ Steadily Expanding Other Revenue Net Financing Revenue ✓ Stabilized Credit Trends ✓ Other Revenue (Lo/Mid $400 / qtr) ✓ Consistent Tax Rate (23-24%) 9.1% (assumes statutory U.S. Federal tax rate is unchanged at 21%) ✓ Improving Credit Expectations ✓ Consistent Tax Rate (23-24%) 2022-2023 2020 2021 (1) Represents a non-GAAP financial measure. See page 31 for details. 20

1Q 2021 Preliminary Results Strategic Priorities ‘Do It Right’ Culture | Relentless Customer Focus | Steady, Long-term Execution Leading, adaptable Auto and Insurance Consumer businesses and digitally-based bank platform & Commercial Lender Ongoing customer growth & relationship Savings & deepening across scalable platforms Insurance Checking Sustainable, organic growth in expanded product offerings Servicing Efficient, disciplined risk management & capital & Customer Investing deployment Solutions Payments Long-term execution & sustainable results Delivering for All Stakeholders 21

1Q 2021 Preliminary Results Supplemental 22

1Q 2021 Preliminary Results Supplemental Results by Segment Inc / (Dec) v. Segment Detail ($ millions) 1Q 21 4Q 20 1Q 20 4Q 20 1Q 20 Automotive Finance $ 803 $ 563 $ (173) $ 240 $ 976 Insurance 141 183 (105) (42) 246 Dealer Financial Services $ 944 $ 746 $ (278) $ 198 $ 1 ,222 Corporate Finance 53 64 (68) (1 1) 121 Mortgage Finance 23 7 12 16 11 Corporate and Other (13) 39 (7 7) (52) 64 Pre-tax income (loss) from continuing operations $ 1 ,007 $ 856 $ (411) $ 151 $ 1 ,418 10 9 8 0 1 (1) Core OID (1 7) (111) 185 95 (2 02) (2) Change in fair value of equity securities (1) $ 246 $ 1,217 $ 1,000 $ 754 $ (217) Core pre-tax income (loss) (1) Represents a non-GAAP financial measure. See pages 33, and 34 for calculation methodology and details. 23 (2) See page 36 for additional footnotes

1Q 2021 Preliminary Results Supplemental Funding Profile Details Funding Mix Ally Financial Rating Details Deposits Secured Debt FHLB / Other Unsecured Debt LT Debt ST Debt Outlook Date 6% 7% Fitch BBB- F3 Stable 3/30/2021 7% 10% 13% 4% 13% 13% 2% 9% 15% Moody's Ba1 Not Prime Stable 5/12/2020 6% 10% 11% 19% S&P BBB- A-3 Stable 3/25/2021 DBRS BBB (Low) R-3 Stable 3/4/2021 87% 75% 70% 64% Note: Ratings and Outlook as of 3/31/2021. Our borrowing costs and access to the capital markets 59% could be negatively impacted if our credit ratings are downgraded or otherwise fail to meet investor expectations or demands. 1Q 17 1Q 18 1Q 19 1Q 20 1Q 21 (1) Unsecured Long-Term Debt Maturities Wholesale Funding Issuance Term ABS and Term Unsecured Issuance Principal Amount ($ billions) (2) AART (Ally Bank - Retail Auto) AMOT (Ally Bank - Floorplan) Maturity Date Coupon Outstanding AFIN (AFI-Retail Auto) AART-SN (Ally Bank - Lease) ($ billions) $7.9 $7.3 $0.8 $6.5 4/15/2021 4.25 $0.60 $1.8 $0.5 $4.9 2022 4.32 $1.05 $1.4 $4.0 $2.6 $3.5 $2.5 2023 2.09 $2.00 $1.3 $4.6 (3) $3.5 $3.0 2024+ 6.27 $6.24 $2.4 $1.8 (1) Excludes retail notes, demand notes (terminated Ally’s demand note program and redeemed all 2015 2016 2017 2018 2019 2020 2021 outstanding demand notes​, Ally had $2.1B of outstandings as of 12/31/2020) and trust preferred securities; as of 3/31/2021. Term Unsecured Issuance (2) Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs. $0.0 $0.8 $2.8 $5.4 $0.9 $0.0 $0.0 (3) Weighted average coupon based on notional value and corresponding coupon for all unsecured bonds as of January 1st of the respective year. Does not reflect weighted average interest expense for the Note: Term ABS shown includes funding amounts (notes sold) at new respective year. 2024+ excludes ~$2.6 billion Trust Preferred securities (excluding OID/issuance costs). issue and does not include private offerings sold at a later date. 24

1Q 2021 Preliminary Results Supplemental Corporate and Other Inc / (Dec) v. • Corporate and Other activity reflects: Key Financials ($ millions) 1Q 21 4Q 20 1Q 20 Net financing revenue $ 57 $ 14 $ 71 – Centralized asset and liability management Total other revenue 58 (89) (1) Total net revenue $ 115 $ (75) $ 70 – Corporate allocation activities Provision for credit losses - (4) (22) Noninterest expense 128 (19) 28 – Legacy mortgage portfolio Pre-tax (loss) $ ( 13) $ (52) $ 64 (1) Core OID 10 0 1 – Ally Invest and Ally Lending activities (1) Core pre-tax (loss) $ (3) $ (52) $ 65 • Pre-tax loss of $13 million, up $64 million YoY and down Cash & securities $ 45,746 $ 3,422 $ 13,186 $52 million QoQ (2) Held-for-investment loans, net 1,230 5 (490) (3) Intercompany loan (591) 239 (591) – Net financing revenue up QoQ and YoY from deposit pricing actions (4) Other 5,363 845 ( 203) Total assets $ 51,748 $ 4,511 $ 11,902 – Total other revenue down QoQ driven by activity in 4Q: Ally Ventures gain and Legacy mortgage portfolio gain on sale, partially offset by FHLB early retirement expense – Provision expense decrease primarily from a lower coverage rate at Ally Invest Details (brokerage) 1Q 21 4Q 20 1Q 20 Ally Lending due to improved economic trends Net Funded Accounts (thousands) 425.1 405.9 373.1 Average Customer Trades Per Day (thousands) 80.9 60.1 43.9 – Noninterest expense down QoQ primarily from the contribution to the Total Customer Cash Balances ($ millions) $ 2,022 $ 2,085 $ 1,856 Ally Charitable Foundation in 4Q and up YoY primarily from the build- Total Net Customer Assets ($ millions) $ 14,473 $ 13,445 $ 7,489 out of Ally Lending • Total assets of $51.7 billion, up $11.9 billion YoY, driven by elevated cash balances Ally Lending (previously HCS) 1Q 21 4Q 20 1Q 20 Gross Originations ($ millions) $ 211 $ 177 $ 76 Held-for-investment loans ($ millions) (EOP) $ 490 $ 407 $ 224 Portfolio yield 15.0% 16.7% 13.5% NCO % 7.0% 4.7% 7.5% (1) Represents a non-GAAP financial measure. See page 33 and 34 for calculation methodology and details. See page 36 for additional footnotes. 25

1Q 2021 Preliminary Results Supplemental Interest Rate Risk Sensitivities (1) Net Financing Revenue Sensitivity Analysis 1Q 21 4Q 20 (2) (2) Change in interest rates Gradual Instantaneous Gradual Instantaneous (3) -25 bps $ ( 44) $ (96) $ (3) $ ( 40) +100 bps $ (27) $ ( 9) $ 32 $ 68 Stable rate environment n/m $ ( 34) n/m $ ( 8) (1) Net financing revenue impacts reflect a rolling 12-month view. See page 35 for additional details. (2) Gradual changes in interest rates are recognized over 12 months. (3) The -100bps shock has been replaced with a -25bps shock, given low interest rate environment. Model assumes OSA rate near current pricing levels in down shock scenarios. 26

1Q 2021 Preliminary Results Supplemental Deferred Tax Asset Deferred Tax Asset / (Liability) 1Q 21 4Q 20 Gross DTA/(DTL) Valuation Net DTA/(DTL) Net DTA/(DTL) ($ millions) Balance Allowance Balance Balance Net Operating Loss (Federal) $ 7 $ - $ 7 $ 7 Tax Credit Carryforwards 978 (724) 254 1,052 State/Local Tax Carryforwards 196 (103) 93 62 Other Deferred Tax Liabilities, net (105) - (105) ( 1,119) Net Deferred Tax Asset / (Liability) $ 1,076 $ (827) $ 249 $ 2 (1) GAAP does not prescribe a method for calculating individual elements of deferred taxes for interim periods; therefore, these balances are estimates. Note: ‘Other Deferred Tax Liabilities, net’ balances declined QoQ primarily driven by a change in tax depreciation election that accelerated taxable income, utilized tax credit carryforwards, and increased DTA balance overall. Deferred Tax Asset / (Liability) Utilization ($ millions) Net GAAP DTA / (DTL) Balance Disallowed DTA $249 $215 $137 $77 $36 $25 $20 $20 $18 $17 $2 -$9 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 Note: 4Q19 to 1Q20 DTA build was significantly impacted by CECL adoption on 1-1-2020. 1Q21 increase in DTA driven by change in tax depreciation election. 27

1Q 2021 Preliminary Results Supplemental Notes on Non-GAAP Financial Measures The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Stat ements, but which are supplemental to, and not a substitute for, GAAP measures: Adjusted Earnings per Share (Adjusted EPS), Core pre -tax income, Core net income attributable to common shareholders, Core return on tangible common equity (Core ROTCE), Adjusted efficiency ratio, Adjusted total net revenue, Adjusted other revenue, Adjusted noninterest expense, Core original issue discount (Core OID) amortization expense and Core outstanding orig inal issue discount balance (Core OID balance), Net financing revenue (excluding Core OID), and Adjusted tangible book value per share (Adjusted TBVPS). These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital. For calculation methodology, refer to the Reconciliation to GAAP later in this document. 1) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, and (2) equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current peri od net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity (change in fair value of equity securities impacts the Insurance and Corporate Finance segments), and (3) Repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods or businesses. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. See page 33 for calculation methodology and details. 2) Core net income attributable to common shareholders is a non-GAAP financial measure that serves as the numerator in the calculations of Adjusted EPS and Core ROTCE and that, like those measures, is believed by management to help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Core net income attributable to common shareholders adjusts GAAP net income attributable to common shareholders for discontinued operations net of tax, tax-effected Core OID expense, tax-effected repositioning and other primarily related to the extinguishment of high-cost legacy debt and strategic activities and significant other, preferred stock capital actions, significant discrete tax items and tax-effected changes in equity investments measured at fair value, as applicable for respective periods. See page 29 calculation methodology and details. 3) Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Ally believes that tangible common equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core return on tangible common equity (Core ROTCE), tangible common equity is further adjusted for Core OID balance and net deferred tax asset. See page 30 for more details. 4) Core original issue discount (Core OID) amortization expense is a non-GAAP financial measure for OID and is believed by management to help the reader better understand the activity removed from: Core pre-tax income (loss), Core net income (loss) attributable to common shareholders, Adjusted EPS, Core ROTCE, Adjusted efficiency ratio, Adjusted total net revenue, and Net financing revenue (excluding Core OID). Core OID is primarily related to bond exchange OID which excludes international operations and future issuances. Core OID for all periods shown is applied to the pre-tax income of the Corporate and Other segment. See page 34 calculation methodology and details. 5) Core outstanding original issue discount balance (Core OID balance) is a non-GAAP financial measure for outstanding OID and is believed by management to help the reader better understand the balance removed from Core ROTCE and Adjusted TBVPS. Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. See page 34 for calculation methodology and details 6) Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt. 7) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure determined by calculating the estimated average annualized yield for loans originated during the period. At this time there currently is no comparable GAAP financial measure for Estimated Retail Auto Originated Yield and therefore this forecasted estimate of yield at the time of origination cannot be quantitatively reconciled to comparable GAAP informati on. 28

1Q 2021 Preliminary Results Supplemental GAAP to Core Results: Adjusted EPS - Quarterly Adjusted Earnings per Share ( Adjusted EPS ) QUARTERLY TREND 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 2Q 18 1Q 18 Numerator ($ millions) GAAP net income attributable to common shareholders $ 796 $ 687 $ 476 $ 241 $ (319) $ 378 $ 381 $ 582 $ 374 $ 290 $ 374 $ 349 $ 250 Discontinued operations, net of tax - - - 1 - 3 - 2 1 (1) - (1) 2 Core OID 10 9 9 9 8 8 7 7 7 23 22 21 20 Repositioning items - - - 50 - - - - - - - - - Change in fair value of equity securities (17) ( 111) (13) (90) 185 (29) 11 (2) (70) 95 (6) (8) 40 Tax on Core OID, repositioning items, & change in fair value of equity securities 1 21 1 17 (41) 4 (4) (1) 13 (25) (3) (3) (13) (assumes 21% tax rate starting in 1Q18, 35% prior) Significant discrete tax items - - - - - - - ( 201) - - - - - Core net income attributable to common shareholders [a] $ 790 $ 606 $ 473 $ 228 $ (166) $ 364 $ 396 $ 387 $ 325 $ 382 $ 386 $ 358 $ 300 Denominator Weighted-average common shares outstanding - (Diluted, thousands) [b] 377,529 378,424 377,011 375,762 375,723 383,391 392,604 399,916 405,959 414,750 424,784 432,554 438,931 0 Metric GAAP EPS $ 2.11 $ 1.82 $ 1.26 $ 0.64 $ (0.85) $ 0.99 $ 0.97 $ 1.46 $ 0.92 $ 0.70 $ 0.88 $ 0.81 $ 0.57 Discontinued operations, net of tax - - - 0.00 - 0 .01 - 0.01 0 .00 (0.00) - ( 0.00) 0.00 Core OID 0.03 0.02 0.02 0.02 0 .02 0.02 0 .02 0.02 0.02 0 .06 0.05 0.05 0 .05 Repositioning items - - - 0 .13 - - - - - - - - - Change in fair value of equity securities (0.04) ( 0.29) ( 0.04) ( 0.24) 0.49 (0.08) 0.03 (0.01) (0.17) 0 .23 ( 0.01) (0.02) 0 .09 Tax on Core OID, repositioning items, & change in fair value of equity securities 0.00 0.06 0 .00 0 .05 (0.11) 0 .01 ( 0.01) ( 0.00) 0 .03 (0.06) (0.01) (0.01) (0.03) (assumes 21% tax rate starting in 1Q18, 35% prior) Significant discrete tax items - - - - - - - ( 0.50) - - - - - Adjusted EPS [a] / [b] $ 2.09 $ 1.60 $ 1.25 $ 0.61 $ (0.44) $ 0.95 $ 1.01 $ 0.97 $ 0.80 $ 0.92 $ 0.91 $ 0.83 $ 0.68 Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) excludes equity fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, (5) excludes significant di screte tax items that do not relate to the operating performance of the core businesses, and adjusts for preferred stock capital actions (e.g., Series A and Series G) that have been taken by the company to normalize its capital structure, as applicable for respective periods. 29

1Q 2021 Preliminary Results Supplemental GAAP to Core Results: Adjusted TBVPS - Quarterly Adjusted Tangible Book Value per Share ( Adjusted TBVPS ) QUARTERLY TREND 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 2Q 18 1Q 18 Numerator ($ billions) GAAP common shareholder's equity $ 14.6 $ 14.7 $ 14.1 $ 13.8 $ 13.5 $ 14.4 $ 14.5 $ 14.3 $ 13.7 $ 13.3 $ 13.1 $ 13.1 $ 13.1 Goodwill and identifiable intangibles, net of DTLs (0.4) (0.4) (0.4) (0.4) (0.4) (0.5) (0.3) (0.3) (0.3) (0.3) (0.3) (0.3) (0.3) Tangible common equity 14.2 14.3 1 3.7 13.4 13.1 14.0 14.2 1 4.0 1 3.4 13.0 12.8 1 2.8 12.8 Tax-effected Core OID balance (assumes 21% tax rate starting in 4Q17, 35% prior) (0.8) (0.8) (0.8) (0.8) (0.8) (0.8) (0.8) (0.9) (0.9) (0.9) (0.9) (0.9) (0.9) Adjusted tangible book value [a] $ 13.4 $ 13.5 $ 12.9 $ 12.6 $ 12.2 $ 13.1 $ 13.3 $ 13.2 $ 12.6 $ 12.1 $ 11.9 $ 12.0 $ 11.9 Denominator Issued shares outstanding (period-end, thousands) [b] 371,805 374,674 373,857 373,837 373,155 374,332 383,523 392,775 399,761 404,900 416,591 425,752 432,691 Metric GAAP common shareholder's equity per share $ 39.3 $ 39.2 $ 37.8 $ 37.0 $ 36.2 $ 38.5 $ 37.7 $ 36.4 $ 34.3 $ 32.8 $ 31.4 $ 30.9 $ 30.2 Goodwill and identifiable intangibles, net of DTLs per share (1.0) (1.0) (1.0) (1.0) (1.2) (1.2) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) Tangible common equity per share 38.3 38.2 3 6.7 3 5.9 3 5.0 37.3 37.0 35.7 33.6 3 2.1 30.7 30.2 2 9.6 Tax-effected Core OID balance (assumes 21% tax rate starting in 4Q17, 35% prior) per share (2.2) (2.2) (2.2) (2.2) (2.2) (2.2) (2.2) (2.2) (2.1) (2.1) (2.1) (2.1) (2.1) Adjusted tangible book value per share [a] / [b] $ 36.2 $ 36.1 $ 34.6 $ 33.7 $ 32.8 $ 35.1 $ 34.7 $ 33.6 $ 31.4 $ 29.9 $ 28.6 $ 28.1 $ 27.4 Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for: (1) goodwill and identifiable intangibles, net of DTLs, (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered, and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods. Note: In December 2017, tax-effected Core OID balance was adjusted from a statutory U.S. Federal tax rate of 35% to 21% (“rate”) as a result of changes to U.S. tax law. The adjustment conservatively increased the tax-effected Core OID balance and consequently reduced Adjusted TBVPS as any acceleration of the non-cash charge in future periods would flow through the financial statements at a 21% rate versus a previously modeled 35% rate. Calculated Impact to Adjusted TBVPS from CECL Day-1 1Q 20 Numerator ($ billions) Adjusted tangible book value $ 12.2 CECL Day-1 impact to retained earnings, net of tax 1.0 Adjusted tangible book value less CECL Day-1 impact [a] $ 13.3 Denominator Issued shares outstanding (period-end, thousands) [b] 373,155 Metric Adjusted TBVPS $ 32.8 CECL Day-1 impact to retained earnings, net of tax per share 2.7 Adjusted tangible book value, less CECL Day-1 impact per share [a] / [b] $ 35.5 Ally adopted CECL on January 1, 2020. Upon implementation of CECL Ally recognized a reduction to our opening retained earnings balance of approximately $1.0 billion, net of income tax, which reflects a pre-tax increase to the allowance for loan losses of approximately $1.3 billion. This increase is almost exclusively driven by our consumer automotive loan portfolio. 30

1Q 2021 Preliminary Results Supplemental GAAP to Core Results: Core ROTCE - Quarterly Core Return on Tangible Common Equity ( Core ROTCE ) QUARTERLY TREND 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 Numerator ($ millions) GAAP net income (loss) attributable to common shareholders $ 796 $ 687 $ 476 $ 241 $ (319) Discontinued operations, net of tax - - - 1 - Core OID 10 9 9 9 8 Repositioning Items - - - 50 - Change in fair value of equity securities (17) (111) (13) (90) 185 Tax on Core OID & change in fair value of equity securities (assumes 21% tax rate) 1 21 1 17 (41) Core net income (loss) attributable to common shareholders [a] $ 790 $ 606 $ 473 $ 228 $ (166) Denominator (Average, $ billions) GAAP shareholder's equity $ 14.7 $ 14.4 $ 14.0 $ 13.7 $ 14.0 Goodwill & identifiable intangibles, net of deferred tax liabilities ( DTLs ) (0.4) (0.4) (0.4) (0.4) (0.4) Tangible common equity $ 14.3 $ 14.0 $ 13.6 $ 13.3 $ 13.5 Core OID balance (1.0) (1.0) (1.0) (1.1) (1.1) Net deferred tax asset ( DTA ) (0.1) (0.1) (0.1) (0.2) (0.1) Normalized common equity [b] $ 13.1 $ 12.9 $ 12.4 $ 12.0 $ 12.3 Core Return on Tangible Common Equity [a] / [b] 24.1% 18.7% 15.2% 7.6% -5.4% Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is bas ed on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share. (1) In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations n et of tax, tax-effected Core OID, tax- effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a componentof equity, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods. (2) In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA. 31

1Q 2021 Preliminary Results Supplemental GAAP to Core Results: Adjusted Efficiency Ratio - Quarterly Adjusted Efficiency Ratio QUARTERLY TREND 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 Numerator ($ millions) GAAP noninterest expense $ 943 $ 1,023 $ 905 $ 985 $ 920 Rep and warrant expense - (0) - - - Insurance expense ( 253) (246) (268) ( 322) ( 256) Repositioning items - - - (50) - Adjusted noninterest expense for efficiency ratio [a] $ 690 $ 777 $ 637 $ 613 $ 664 Denominator ($ millions) Total net revenue $ 1,937 $ 1,981 $ 1,684 $ 1,609 $ 1,412 Core OID 10 9 9 9 8 Insurance revenue (394) (429) ( 346) (450) (151) Adjusted net revenue for the efficiency ratio [b] $ 1,553 $ 1,561 $ 1,347 $ 1,168 $ 1,269 Adjusted Efficiency Ratio [a] / [b] 44.4% 49.8% 47.3% 52.5% 52.3% Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. (1) In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Rep and warrant expense, Insurance segment expense, and repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods. (2) In the denominator, total net revenue is adjusted for Core OID and Insurance segment revenue. See page 17 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance segment. 32

1Q 2021 Preliminary Results Supplemental Non-GAAP Reconciliation – Core Income ($ millions) 1Q 21 4Q 20 1Q 20 Change in fair Change in fair Change in fair (1) (1) (1) GAAP Core OID value of equity GAAP Core OID value of equity GAAP Core OID value of equity Non-GAAP Non-GAAP Non-GAAP securities securities securities Consolidated Ally Net financing revenue $ 1,372 $ 10 $ - 1,382 $ 1,303 $ 9 $ - $ 1,312 $ 1,146 $ 8 $ - $ 1,154 Total other revenue 565 - ( 17) 548 678 - (111) 567 266 - 185 451 Provision for credit losses (13) - - (13) 102 - - 102 903 - - 903 Noninterest expense 943 - - 943 1,023 - - 1,023 920 - - 920 Pre-tax income (loss) $ 1,007 $ 10 $ (17) $ 1,000 $ 856 $ 9 $ (111) $ 754 $ ( 411) $ 8 $ 185 $ (217) Corporate / Other Net financing revenue $ 57 $ 10 $ - $ 67 $ 43 $ 9 $ - $ 52 $ (14) $ 8 $ - $ (6) Total other revenue 58 - - 58 147 - - 147 59 - - 59 Provision for credit losses - - - - 4 - - 4 22 - - 22 Noninterest expense 128 - - 128 147 - - 147 100 - - 100 Pre-tax income (loss) $ (13) $ 10 $ - $ (3) $ 39 $ 9 $ - $ 48 $ (77) $ 8 $ - $ (69) Insurance Premiums, service revenue earned and other $ 281 $ - $ - $ 281 $ 290 $ - $ - $ 290 $ 279 $ - $ - $ 279 Losses and loss adjustment expenses 63 - - 63 62 - - 62 74 - - 74 Acquisition and underwriting expenses 190 - - 190 184 - - 184 182 - - 182 Investment income and other 113 - (11) 102 139 - (111) 28 (128) - 182 54 Pre-tax income (loss) $ 141 $ - $ (11) $ 130 $ 183 $ - $ (111) $ 72 $ ( 105) $ - $ 182 $ 77 Corporate Finance Net financing revenue $ 71 $ - $ - $ 71 $ 79 $ - $ - $ 79 $ 68 $ - $ - $ 68 Total other revenue 26 - (5) 21 17 - (1) 16 13 - 4 17 Provision for credit losses 13 - - 13 9 - - 9 114 - - 114 Noninterest expense 31 - - 31 23 - - 23 35 - - 35 Pre-tax income (loss) $ 53 $ - $ (5) $ 48 $ 64 $ - $ (1) $ 63 $ (68) $ - $ 4 $ (64) (1) Non-GAAP line items walk to Core pre-tax income, a non-GAAP financial measure that adjusts pre-tax income. See page 28 for definitions. Note: Equity fair value adjustments related to ASU 2016-01 requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. 33

1Q 2021 Preliminary Results Supplemental Non-GAAP Reconciliations Net Financing Revenue (ex. Core OID) QUARTERLY TREND ($ millions) 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 2Q 18 1Q 18 GAAP Net Financing Revenue $ 1 ,372 $ 1 ,303 $ 1 ,200 $ 1,054 $ 1,146 $ 1,156 $ 1 ,188 $ 1 ,157 $ 1,132 $ 1,140 $ 1,107 $ 1 ,094 $ 1 ,049 Core OID 10 9 9 9 8 8 7 7 7 23 22 21 20 Net Financing Revenue (ex. Core OID) [a] $ 1,382 $ 1,312 $ 1 ,209 $ 1 ,063 $ 1 ,154 $ 1,164 $ 1 ,195 $ 1 ,164 $ 1 ,139 $ 1 ,163 $ 1,129 $ 1 ,115 $ 1,069 Adjusted Other Revenue QUARTERLY TREND ($ millions) 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 2Q 18 1Q 18 GAAP Other Revenue $ 565 $ 678 $ 484 $ 555 $ 266 $ 487 $ 413 $ 395 $ 466 $ 298 $ 398 $ 364 $ 354 Change in fair value of equity securities (17) (111) (13) (90) 185 (29) 11 ( 2) (70) 95 (6) ( 8) 40 Adjusted Other Revenue [b] $ 548 $ 567 $ 471 $ 465 $ 451 $ 458 $ 424 $ 393 $ 396 $ 393 $ 392 $ 356 $ 394 Adjusted Total Net Revenue ($ millions) Adjusted Total Net Revenue [a]+[b] $ 1,930 $ 1,879 $ 1 ,680 $ 1 ,528 $ 1,606 $ 1 ,622 $ 1,620 $ 1 ,557 $ 1,535 $ 1,556 $ 1 ,521 $ 1 ,471 $ 1 ,463 Adjusted NIE (ex. Repositioning) QUARTERLY TREND ($ millions) 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 2Q 18 1Q 18 GAAP Noninterest Expense $ 943 $ 1,023 $ 905 $ 985 $ 920 $ 880 $ 838 $ 881 $ 830 $ 804 $ 807 $ 839 $ 814 Repositioning - - - (50) - - - - - - - - - Adjusted NIE (ex. Repositioning) [c] $ 943 $ 1 ,023 $ 905 $ 935 $ 920 $ 880 $ 838 $ 881 $ 830 $ 804 $ 807 $ 839 $ 814 Original issue discount amortization expense QUARTERLY TREND ($ millions) 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 2Q 18 1Q 18 Core original issue discount (Core OID) amortization expense $ 10 $ 9 $ 9 $ 9 $ 8 $ 8 $ 7 $ 7 $ 7 $ 23 $ 22 $ 21 $ 20 Other OID 3 3 3 4 3 3 3 3 3 2 4 4 4 GAAP original issue discount amortization expense $ 12 $ 13 $ 12 $ 12 $ 11 $ 11 $ 11 $ 10 $ 10 $ 26 $ 25 $ 25 $ 24 Outstanding original issue discount balance QUARTERLY TREND ($ millions) 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 2Q 18 1Q 18 Core outstanding original issue discount balance (Core OID balance) $ (1,018) $ (1,027) $ (1,037) $ (1,046) $ ( 1,055) $ (1,063) $ ( 1,071) $ ( 1,078) $ ( 1,085) $ ( 1,092) $ ( 1,115) $ (1,137) $ ( 1,158) Other outstanding OID balance (34) (37) (48) (46) (34) (37) (40) (44) (39) (43) (46) (49) (53) GAAP outstanding original issue discount balance $ ( 1,052) $ ( 1,064) $ (1,084) $ (1,092) $ (1,089) $ ( 1,100) $ ( 1,111) $ (1,122) $ (1,125) $ (1,135) $ (1,161) $ ( 1,187) $ ( 1,211) Note: Equity fair value adjustments related to ASU 2016-01 requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. ‘Repositioning’ is primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items. See page 28 for definitions. 34

1Q 2021 Preliminary Results Supplemental Notes on Other Financial Measures 1) Interest rate risk modeling – We prepare our forward-looking baseline forecasts of net financing revenue taking into consideration anticipated future business growth, asset/liability positioning, and interest rates based on the implied forward curve. The analysis is highly dependent upon a variety of assumptions including the repricing characteristics of retail deposits with both contractual and non-contractual maturities. We continually monitor industry and competitive repricing activity along with other market factors when contemplating deposit pricing actions. Please see our SEC filings for more details. 2) Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding finance receivables and loans excluding loans measured at fair value and loans held-for-sale. 3) U.S. consumer auto originations ▪ New Retail – standard and subvented rate new vehicle loans ▪ Lease – new vehicle lease originations ▪ Used – used vehicle loans ▪ Growth – total originations from non-GM/Stellantis dealers and direct-to-consumer loans. Note: Stellantis N.V. (“Stellantis”) announced January 17, 2021, following completion of the merger of Peugeot S.A. (“Groupe PSA”) and Fiat Chrysler Automobiles N.V. (“FCA”) on January 16, 2021, the combined company was renamed Stellantis. ▪ Nonprime – originations with a FICO® score of less than 620 4) Customer retention rate is the annualized 3-month rolling average of 1 minus the monthly attrition rate; excludes escheatment. 5) Estimated impact of CECL on regulatory capital per final rule issued by U.S. banking agencies - In December 2018, the FRB and other U.S. banking agencies approved a final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, the option to phase in the day-one impact of CECL over a three-year period. In March 2020, the FRB and other U.S. banking agencies issued an interim final rule that became effective on March 31, 2020 and provided an alternative option for banks to temporarily delay the impacts of CECL, relative to the incurred loss methodology for estimating the allowance for loan losses, on regulatory capital. A final rule that was largely unchanged from the March 2020 interim final rule was is sued by the FRB and other U.S. banking agencies in August 2020, and became effective in September 2020. For regulatory capital purposes, these rules permitted us to delay recognizing the estimated impact of CECL on regulatory capital until after a two-year deferral period, which for us extends through December 31, 2021. Beginning on January 1, 2022, we will be required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the fi ve-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and plan to phase in the regulatory capital impacts of CECL based on this five-year transition period. 6) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to per iods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. 35

1Q 2021 Preliminary Results Supplemental Additional Notes Page – 7 | Ally Auto & Insurance: Leading, Adaptable Partner (1) ‘Prime Auto Lender’ - Source: PIN Navigator Data & Analytics, a business division of J.D. Power. The credit scores provided within these reports have been provided by FICO® Risk Score, Auto 08 FICO® is a registered trademark of Fair Isaac Corporation in the United States and other countries. (2) ‘Bank Floorplan Lender’ - Source: Company filings, including WFC and HBAN. (3) ‘Retail Auto Loan Outstandings’ - Source: Big Wheels Auto Finance Data 2019. (note, 2020 report not available as of 4/16/2021). (4) ‘Top-3 Used Auto Lender’ - Source: Experian AutoCount. (5) ‘Auto Loan & Lease Outstanding Balances’ – Source: Federal Reserve Bank of New York, 2020 Q4 Quarterly Report on Household Debt and Credit . (6) ‘Annual Loan & Lease Origination Volume’ – Source: https://www.consumerfinance.gov/data-research/consumer-credit-trends/auto-loans/origination-activity/ (Dec. ’19) (7) ‘Auto Debt portion of Total Consumer Debt’ – Source: Federal Reserve Bank of New York, 2020 Q4 Quarterly Report on Household Deb t and Credit . (8) ‘Auto Payment Priority within Consumer Payment Waterfall’ – Source: Experian Consumer payment hierarchy by trade type: Time series analysis based on a sample of the US population. (Jan. ’21) Page – 8 | Ally Bank: Leading, Growing, All-Digital Disruptor (1) Source: FDIC, FFIEC Call Reports and Company filings of branchless banks including Marcus, Discover, American Express, Synchrony. Page – 15 | Auto Finance (1) Noninterest expense includes corporate allocations of $211 million in 1Q 2021, $209 million in 4Q 2020, and $209 million in 1Q 2020. Page – 17 | Insurance (2) Acquisition and underwriting expenses includes corporate allocations of $17 million in 1Q 2021, $15 million in 4Q 2020, and $17 million in 1Q 2020. (3) Change in fair value of equity securities impacts the Insurance segment. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. Page – 18 | Corporate Finance (2) Noninterest expense includes corporate allocations of $9 million in 1Q 2021, $8 million in 4Q 2020, and $10 million in 1Q 2020. (3) Change in fair value of equity securities impacts the Corporate Finance segment. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. Page – 19 | Mortgage Finance (1) Noninterest expense includes corporate allocations of $20 million in 1Q 2021, $22 million in 4Q 2020, and $20 million in 1Q 2020. (2) 1st lien only. Updated home values derived using a combination of appraisals, Broker price opinion (BPOs), Automated Valuation Models (AVMs) and Metropolitan Statistical Area (MSA) level house price indices. Page – 25 | Corporate and Other (2) HFI legacy mortgage portfolio and HFI Ally Lending portfolio. (3) Intercompany loan related to activity between Insurance and Corporate for liquidity purposes from the wind down of the Demand Notes program. (4) Includes loans held-for-sale. 36

EX-99.3

Exhibit 99.3

FIRST QUARTER 2021

FINANCIAL SUPPLEMENT

ALLY FINANCIAL INC. FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION

This document and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based on company and third-party data available at the time of the presentation or related communication.

This document and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts—such as statements about future effects of COVID-19, the outlook for financial and operating metrics, and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2020, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent SEC filings.

This document and related communications contain specifically identified non-GAAP financial measures, which supplement the results that are reported according to U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures may be useful to investors but should not be viewed in isolation from, or as a substitute for, GAAP results. Differences between non-GAAP financial measures and comparable GAAP financial measures are reconciled in the presentation.

Unless the context otherwise requires, the following definitions apply. The term “loans” means the following consumer and commercial products associated with our direct and indirect financing activities: loans, retail installment sales contracts, lines of credit, and other financing products excluding operating leases. The term “operating leases” means consumer- and commercial-vehicle lease agreements where Ally is the lessor and the lessee is generally not obligated to acquire ownership of the vehicle at lease-end or compensate Ally for the vehicle’s residual value. The terms “lend,” “finance,” and “originate” mean our direct extension or origination of loans, our purchase or acquisition of loans, or our purchase of operating leases, as applicable. The term “consumer” means all consumer products associated with our loan and operating-lease activities and all commercial retail installment sales contracts. The term “commercial” means all commercial products associated with our loan activities, other than commercial retail installment sales contracts.

1Q 2021 Preliminary Results 2

ALLY FINANCIAL INC. TABLE OF CONTENTS

	Page(s)
Consolidated Results
Consolidated Financial Highlights		4
Consolidated Income Statement		5
Consolidated Period-End Balance Sheet		6
Consolidated Average Balance Sheet		7
Segment Detail
Segment Highlights		8
Automotive Finance		9-10
Insurance		11
Mortgage Finance		12
Corporate Finance		13
Corporate and Other		14
Credit Related Information		15-16
Supplemental Detail
Capital		17
Liquidity		18
Net Interest Margin and Deposits		19
Ally Bank Consumer Mortgage HFI Portfolios		20
Earnings Per Share Related Information		21
Adjusted Tangible Book Per Share Related Information		22
Core ROTCE Related Information		23
Adjusted Efficiency Ratio Related Information		24

1Q 2021 Preliminary Results 3

ALLY FINANCIAL INC. CONSOLIDATED FINANCIAL HIGHLIGHTS

($ in millions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Selected Income Statement Data	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Net financing revenue (excluding Core OID) (1)	$	1,382		$	1,312		$	1,209		$	1,063		$	1,154		$	69		$	227
Core OID		(10	)		(9	)		(9	)		(9	)		(8	)		(0	)		(1	)
Net financing revenue (as reported)		1,372			1,303			1,200			1,054			1,146			69			226
Other revenue (excluding change in fair value of equity securities) (2)		548			567			471			465			451			(18	)		97
Change in fair value of equity securities (3)		17			111			13			90			(185	)		(95	)		202
Other revenue (as reported)		565			678			484			555			266			(113	)		299
Provision for loan losses		(13	)		102			147			287			903			(115	)		(916	)
Total noninterest expense (4)		943			1,023			905			985			920			(80	)		23
Pre-tax income (loss) from continuing operations		1,007			856			632			337			(411	)		151			1,418
Income tax expense / (benefit)		211			169			156			95			(92	)		42			303
(Loss) from discontinued operations, net of tax		-			-			-			(1	)		-			-			-
Net income / (loss) attributable to common shareholders		796			687			476			241			(319	)		109			1,115
Selected Balance Sheet Data (Period-End)
Total assets	$	181,879		$	182,165		$	185,270		$	184,061		$	182,527		$	(286	)	$	(648	)
Consumer loans		87,391			89,202			90,160			90,365			90,066			(1,811	)		(2,675	)
Commercial loans		25,685			29,332			27,868			27,869			38,073			(3,647	)		(12,388	)
Allowance for loan losses		(3,152	)		(3,283	)		(3,379	)		(3,354	)		(3,245	)		131			93
Deposits		139,585			137,036			134,938			131,036			122,324			2,549			17,261
Total equity		14,625			14,703			14,126			13,826			13,519			(78	)		1,106
Common Share Count
Weighted average basic (5)		375,229			376,081			375,658			375,051			375,723			(852	)		(494	)
Weighted average diluted (5)		377,529			378,424			377,011			375,762			375,723			(895	)		1,806
Issued shares outstanding (period-end)		371,805			374,674			373,857			373,837			373,155			(2,870	)		(1,350	)
Per Common Share Data
Earnings per share (basic) (5)	$	2.12		$	1.83		$	1.27		$	0.64		$	(0.85	)	$	0.29		$	2.97
Earnings per share (diluted) (5)		2.11			1.82			1.26			0.64			(0.85	)		0.29			2.96
Adjusted earnings per share (6)		2.09			1.60			1.25			0.61			(0.44	)		0.49			2.54
Book value per share		39.3			39.2			37.8			37.0			36.2			0.1			3.1
Tangible book value per share (7)		38.3			38.2			36.7			35.9			35.0			0.1			3.3
Adjusted tangible book value per share (7)		36.2			36.1			34.6			33.7			32.8			0.1			3.4
Select Financial Ratios
Net interest margin (as reported)		3.16%			2.90%			2.65%			2.40%			2.66%
Net interest margin (ex. Core OID) (8)		3.18%			2.92%			2.67%			2.42%			2.68%
Cost of funds		1.42%			1.58%			1.86%			2.16%			2.43%
Cost of funds (ex. Core OID) (8)		1.38%			1.55%			1.82%			2.13%			2.39%
Efficiency Ratio (9)		48.7%			51.6%			53.7%			61.2%			65.2%
Adjusted efficiency ratio (8)(9)		44.4%			49.8%			47.3%			52.5%			52.3%
Return on average assets (10)		1.7%			1.5%			1.0%			0.5%			(0.7)%
Return on average total equity (10)		21.7%			19.1%			13.6%			7.1%			(9.1)%
Return on average tangible common equity (10)		22.3%			19.6%			14.0%			7.3%			(9.4)%
Core ROTCE (11)		24.1%			18.7%			15.2%			7.6%			(5.4)%
Capital Ratios (12)
Common Equity Tier 1 (CET1) capital ratio		11.1%			10.6%			10.4%			10.1%			9.3%
Tier 1 capital ratio		12.8%			12.4%			12.1%			11.9%			10.9%
Total capital ratio		14.6%			14.1%			14.1%			13.8%			12.8%
Tier 1 leverage ratio		9.8%			9.4%			9.0%			8.9%			8.9%

(1) Represents a non-GAAP financial measure. Excludes Core OID. For more details refer to page 21.

(2) Represents a non-GAAP financial measure. Adjusted for change in the fair value of equity securities due to the implementation of ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity. For Non-GAAP calculation methodology and details see page 21.

(3) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(4) Including but not limited to employee related expenses, commissions and provision for losses and loss adjustment expense related to the insurance business, information technology expenses, servicing expenses, facilities expenses, marketing expenses, and other professional and legal expenses.

(5) Due to antidilutive effect of the net loss from pre-tax loss from continuing operations attributable to common shareholders for the first quarter 2020, basic weighted average common shares outstanding were used to calculate diluted earnings per share.

(6) Represents a non-GAAP financial measure. For more details refer to page 21.

(7) Represents a non-GAAP financial measure. For more details refer to page 22.

(8) Represents a non-GAAP financial measure. Excludes Core OID. For more details refer to page 21.

(9) Represents a non-GAAP financial measure. For more details refer to page 24.

(10) Return metrics are annualized.

(11) Return metrics are annualized. Represents a non-GAAP financial measure. For more details refer to page 23.

(12) For more details on final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, see page 17.

1Q 2021 Preliminary Results 4

ALLY FINANCIAL INC. CONSOLIDATED INCOME STATEMENT

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	1,582		$	1,607		$	1,602		$	1,630		$	1,742		$	(25	)	$	(160	)
Interest on loans held-for-sale		5			6			5			4			2			(1	)		3
Total interest and dividends on investment securities		124			130			162			187			213			(6	)		(89	)
Interest-bearing cash		4			5			5			4			14			(1	)		(10	)
Other earning assets		7			10			11			10			13			(3	)		(6	)
Operating leases		370			365			360			343			367			5			3
Total financing revenue and other interest income		2,092			2,123			2,145			2,178			2,351			(31	)		(259	)
Interest expense
Interest on deposits		306			367			452			541			592			(61	)		(286	)
Interest on short-term borrowings		1			3			9			13			17			(2	)		(16	)
Interest on long-term debt		250			274			309			318			348			(24	)		(98	)
Total interest expense		557			644			770			872			957			(87	)		(400	)
Depreciation expense on operating lease assets		163			176			175			252			248			(13	)		(85	)
Net financing revenue (as reported)	$	1,372		$	1,303		$	1,200		$	1,054		$	1,146		$	69		$	226
Other revenue
Insurance premiums and service revenue earned		280			287			276			263			277			(7	)		3
Gain on mortgage and automotive loans, net		36			75			33			14			(12	)		(39	)		48
Loss on extinguishment of debt		(1	)		(52	)		(49	)		(1	)		(0	)		51			(1	)
Other gain/loss on investments, net		123			134			64			188			(79	)		(11	)		202
Other income, net of losses		127			234			160			91			80			(107	)		47
Total other revenue		565			678			484			555			266			(113	)		299
Total net revenue		1,937			1,981			1,684			1,609			1,412			(44	)		525
Provision for loan losses		(13	)		102			147			287			903			(115	)		(916	)
Noninterest expense
Compensation and benefits expense		395			340			342			334			360			55			35
Insurance losses and loss adjustment expenses		63			62			85			142			74			1			(11	)
Goodwill impairment		-			-			-			50			-			-			-
Other operating expenses		485			621			478			459			486			(136	)		(1	)
Total noninterest expense		943			1,023			905			985			920			(80	)		23
Pre-tax income (loss) from continuing operations	$	1,007		$	856		$	632		$	337		$	(411	)	$	151		$	1,418
Income tax expense / (benefit) from continuing operations		211			169			156			95			(92	)		42			303
Net income (loss) from continuing operations		796			687			476			242			(319	)		109			1,115
(Loss) from discontinued operations, net of tax		-			-			-			(1	)		-			-			-
Net income (loss)	$	796		$	687		$	476		$	241		$	(319	)	$	109		$	1,115
Core Pre-Tax Income Walk
Net financing revenue (ex. OID) (1)	$	1,382		$	1,312		$	1,209		$	1,063		$	1,154		$	69		$	227
Adjusted other revenue (2)		548			567			471			465			451			(18	)		97
Provision for credit losses		(13	)		102			147			287			903			(115	)		(916	)
Adjusted noninterest expense (3)		943			1,023			905			935			920			(80	)		23
Core pre-tax income (loss) (4)	$	1,000		$	754		$	628		$	306		$	(217	)	$	246		$	1,217
Core OID		(10	)		(9	)		(9	)		(9	)		(8	)		(0	)		(1	)
Change in the fair value of equity securities (5)		17			111			13			90			(185	)		(95	)		202
Repositioning and other (6)		-			-			-			(50	)		-			-			-
Pre-tax income (loss) from continuing operations	$	1,007		$	856		$	632		$	337		$	(411	)	$	151		$	1,418

(1) Represents a non-GAAP financial measure. Excludes Core OID. For more details refer to page 21.

(2) Represents a non-GAAP financial measure. Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity. For more details refer to page 21.

(3) Represents a non-GAAP financial measure. Excludes Goodwill impairment at Ally Invest in 2Q 20. For more details refer to page 21.

(4) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, (2) equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity and (3) repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, as applicable for respective periods. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings.

(5) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(6) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

1Q 2021 Preliminary Results 5

ALLY FINANCIAL INC. CONSOLIDATED PERIOD-END BALANCE SHEET

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Assets
Cash and cash equivalents
Noninterest-bearing	$	747		$	724		$	719		$	609		$	453		$	23		$	294
Interest-bearing		15,031			14,897			19,220			18,522			5,708			134			9,323
Total cash and cash equivalents		15,778			15,621			19,939			19,131			6,161			157			9,617
Investment securities (1)		35,711			32,154			31,871			31,228			31,619			3,557			4,092
Loans held-for-sale, net		630			406			441			404			235			224			395
Finance receivables and loans, net		113,076			118,534			118,028			118,234			128,139			(5,458	)		(15,063	)
Allowance for loan losses		(3,152	)		(3,283	)		(3,379	)		(3,354	)		(3,245	)		131			93
Total finance receivables and loans, net		109,924			115,251			114,649			114,880			124,894			(5,327	)		(14,970	)
Investment in operating leases, net		9,944			9,639			9,454			9,088			9,064			305			880
Premiums receivables and other insurance assets		2,725			2,679			2,662			2,609			2,576			46			149
Other assets		7,167			6,415			6,254			6,721			7,978			752			(811	)
Total assets	$	181,879		$	182,165		$	185,270		$	184,061		$	182,527		$	(286	)	$	(648	)
Liabilities
Deposit liabilities
Noninterest-bearing	$	155		$	128		$	159		$	134		$	139		$	27		$	16
Interest-bearing		139,430			136,908			134,779			130,902			122,185			2,522			17,245
Total deposit liabilities		139,585			137,036			134,938			131,036			122,324			2,549			17,261
Short-term borrowings		-			2,136			3,032			3,689			9,493			(2,136	)		(9,493	)
Long-term debt		20,503			22,006			25,704			29,176			31,066			(1,503	)		(10,563	)
Interest payable		453			412			748			697			710			41			(257	)
Unearned insurance premiums and service revenue		3,487			3,438			3,401			3,338			3,305			49			182
Accrued expense and other liabilities		3,226			2,434			3,321			2,299			2,110			792			1,116
Total liabilities	$	167,254		$	167,462		$	171,144		$	170,235		$	169,008		$	(208	)	$	(1,754	)
Equity
Common stock and paid-in capital (2)	$	18,153		$	18,350		$	18,324		$	18,307		$	18,278		$	(197	)	$	(125	)
Accumulated deficit		(3,555	)		(4,278	)		(4,893	)		(5,296	)		(5,465	)		723			1,910
Accumulated other comprehensive income / (loss)		27			631			695			815			706			(604	)		(679	)
Total equity		14,625			14,703			14,126			13,826			13,519			(78	)		1,106
Total liabilities and equity	$	181,879		$	182,165		$	185,270		$	184,061		$	182,527		$	(286	)	$	(648	)

(1) Includes held-to-maturity securities.

(2) Includes Treasury stock.

1Q 2021 Preliminary Results 6

ALLY FINANCIAL INC. CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Assets
Interest-bearing cash and cash equivalents	$	15,363		$	17,758		$	20,719		$	12,496		$	4,853		$	(2,395	)	$	10,510
Investment securities and other earning assets		34,694			33,107			32,059			32,201			32,694			1,587			2,000
Loans held-for-sale, net		570			635			472			337			150			(65	)		420
Total finance receivables and loans, net (2)		115,665			117,422			117,546			122,428			126,646			(1,757	)		(10,980	)
Investment in operating leases, net		9,831			9,587			9,317			9,068			9,078			244			753
Total interest earning assets		176,123			178,509			180,113			176,530			173,420			(2,386	)		2,703
Noninterest-bearing cash and cash equivalents		531			505			536			432			418			26			113
Other assets		8,502			8,112			8,137			8,250			7,583			390			919
Allowance for loan losses		(3,280	)		(3,363	)		(3,371	)		(3,227	)		(2,629	)		83			(651	)
Total assets	$	181,876		$	183,763		$	185,415		$	181,985		$	178,792		$	(1,887	)	$	3,084
Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	125,715		$	122,166		$	118,307		$	111,152		$	104,483		$	3,549		$	21,232
Other interest-bearing deposit liabilities (3)		11,851			13,327			14,500			15,726			16,593			(1,475	)		(4,742	)
Total Interest-bearing deposit liabilities		137,566			135,493			132,807			126,878			121,076			2,073			16,490
Short-term borrowings		814			2,350			3,343			4,712			4,496			(1,536	)		(3,682	)
Long-term debt (4)		21,173			24,103			28,512			30,554			33,122			(2,930	)		(11,949	)
Total interest-bearing liabilities (4)		159,553			161,946			164,662			162,144			158,694			(2,393	)		859
Noninterest-bearing deposit liabilities		152			149			157			136			141			3			11
Other liabilities		7,038			6,819			6,472			5,343			6,137			219			901
Total liabilities	$	166,743		$	168,914		$	171,291		$	167,623		$	164,972		$	(2,171	)	$	1,771
Equity
Total equity	$	15,133		$	14,849		$	14,124		$	14,362		$	13,820		$	284		$	1,313
Total liabilities and equity	$	181,876		$	183,763		$	185,415		$	181,985		$	178,792		$	(1,887	)	$	3,084

(1) Average balances are calculated using an average daily balance methodology

(2) Nonperforming finance receivables and loans are included in the average balances net of unearned income, unamortized premiums and discounts, and deferred fees and costs.

(3) Includes brokered (inclusive of sweep deposits) and other deposits (inclusive of mortgage escrow, and other deposits).

(4) Includes average Core OID balance of $1,023 million in 1Q 2021, $1,032 million in 4Q 2020, $1,041 million in 3Q 2020, $1,050 million in 2Q 2020, and $1,059 million in 1Q 20.

1Q 2021 Preliminary Results 7

ALLY FINANCIAL INC. SEGMENT HIGHLIGHTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Pre-tax Income / (Loss)
Automotive Finance	$	803		$	563		$	566		$	329		$	(173	)	$	240		$	976
Insurance		141			183			78			128			(105	)		(42	)		246
Dealer Financial Services		944			746			644			457			(278	)		198			1,222
Corporate Finance		53			64			60			32			(68	)		(11	)		121
Mortgage Finance		23			7			26			8			12			16			11
Corporate and Other (1)		(13	)		39			(98	)		(160	)		(77	)		(52	)		64
Pre-tax income from continuing operations	$	1,007		$	856		$	632		$	337		$	(411	)	$	151		$	1,418
Core OID (2)		10			9			9			9			8			0			1
Change in the fair value of equity securities (3)		(17	)		(111	)		(13	)		(90	)		185			95			(202	)
Repositioning and other (4)		-			-			-			50			-			-			-
Core pre-tax income (loss) (5)	$	1,000		$	754		$	628		$	306		$	(217	)	$	246		$	1,217

(1) Corporate and Other includes the impact of centralized asset and liability management, corporate overhead allocation activities, the legacy mortgage portfolio, Ally Invest activity, and Ally Lending activity.

(2) Core OID for all periods shown are applied to the pre-tax income of the Corporate and Other segment.

(3) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(4) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

(5) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, (2) equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity and (3) repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, as applicable for respective periods. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings.

1Q 2021 Preliminary Results 8

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Net financing revenue
Consumer	$	1,251		$	1,261		$	1,253		$	1,215		$	1,202		$	(10	)	$	49
Commercial		161			163			153			210			307			(2	)		(146	)
Operating leases		370			365			360			343			367			5			3
Other interest income		-			1			1			2			1			(1	)		(1	)
Total financing revenue and other interest income		1,782			1,790			1,767			1,770			1,877			(8	)		(95	)
Interest expense		413			461			490			529			589			(48	)		(176	)
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		226			242			245			240			251			(15	)		(25	)
Remarketing gains / (losses)		64			66			70			(11	)		2			(1	)		62
Total depreciation expense on operating lease assets		163			176			175			252			248			(13	)		(85	)
Net financing revenue		1,206			1,153			1,102			989			1,040			53			166
Other revenue
Total other revenue		62			56			61			40			47			6			15
Total net revenue		1,268			1,209			1,163			1,029			1,087			59			181
Provision for credit losses		(22	)		86			128			256			766			(108	)		(788	)
Noninterest expense
Compensation and benefits		145			134			134			133			148			11			(3	)
Other operating expenses		342			426			335			311			346			(84	)		(4	)
Total noninterest expense		487			560			469			444			494			(73	)		(7	)
Pre-tax Income / (loss)	$	803		$	563		$	566		$	329		$	(173	)	$	240		$	976
Memo: Net lease revenue
Operating lease revenue	$	370		$	365		$	360		$	343		$	367		$	5		$	3
Depreciation expense on operating lease assets (ex. remarketing)		226			242			245			240			251			(15	)		(25	)
Remarketing gains (losses), net of repo valuation		64			66			70			(11	)		2			(1	)		62
Total depreciation expense on operating lease assets		163			176			175			252			248			(13	)		(85	)
Net lease revenue	$	207		$	189		$	185		$	91		$	119		$	18		$	88
Balance Sheet (Period-End)
Cash, trading and investment securities	$	23		$	23		$	23		$	23		$	23		$	-		$	-
Consumer loans		73,826			73,443			73,484			72,378			72,463			383			1,363
Commercial loans		19,208			23,141			21,854			21,708			31,390			(3,933	)		(12,182	)
Allowance for loan losses		(2,867	)		(2,986	)		(3,092	)		(3,084	)		(2,968	)		119			101
Total finance receivables and loans, net		90,167			93,598			92,246			91,002			100,885			(3,431	)		(10,718	)
Investment in operating leases, net		9,944			9,639			9,454			9,088			9,064			305			880
Other assets		1,432			1,534			1,643			1,903			1,582			(102	)		(150	)
Total assets	$	101,566		$	104,794		$	103,366		$	102,016		$	111,554		$	(3,228	)	$	(9,988	)

1Q 2021 Preliminary Results 9

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - KEY STATISTICS

	QUARTERLY TRENDS											CHANGE VS.
	1Q 21		4Q 20		3Q 20		2Q 20			1Q 20		4Q 20			1Q 20
U.S. Consumer Originations (1) ($ in billions)
Retail standard - new vehicle GM	$	1.0	$	1.1	$	1.0	$	0.7		$	1.0	$	(0.1	)	$	0.0
Retail standard - new vehicle Stellantis		1.0		1.0		1.0		0.7			0.8		0.0			0.2
Retail standard - new vehicle Growth		1.1		1.1		1.0		0.6			1.1		0.0			0.0
Used vehicle		5.7		4.7		5.4		4.3			5.0		1.0			0.7
Lease		1.4		1.2		1.4		0.9			1.2		0.2			0.1
Retail subvented		0.0		0.0		0.0		0.0			0.0		0.0			0.0
Total originations	$	10.2	$	9.1	$	9.8	$	7.2		$	9.1	$	1.1		$	1.1
U.S. Consumer Originations - FICO Score
Super Prime (740+)	$	2.2	$	2.1	$	2.3	$	1.6		$	2.1	$	0.1		$	0.1
Prime (660-739)		4.2		3.7		3.9		2.9			3.4		0.5			0.8
Prime/Near (620-659)		2.3		2.0		2.0		1.6			1.9		0.4			0.4
Non Prime (540-619)		0.8		0.6		0.8		0.6			0.9		0.1			(0.2	)
Sub Prime (0-539)		0.1		0.1		0.2		0.1			0.1		0.0			0.0
Commercial Services Group (2)		0.6		0.6		0.5		0.4			0.6		0.0			0.0
Total originations	$	10.2	$	9.1	$	9.8	$	7.2		$	9.1	$	1.1		$	1.1
U.S. Consumer Retail Originations - Average FICO
New vehicle		693		698		699		697			695		(5	)		(2	)
Used vehicle		681		684		681		680			681		(4	)		-
Total retail originations		685		690		687		685			686		(5	)		(1	)
U.S. Market
Light vehicle sales (SAAR - units in millions)		16.7		16.1		15.3		11.3			15.0		0.6			1.7
Light vehicle sales (quarterly - units in millions)		3.9		4.2		3.9		3.0			3.5		(0.3	)		0.4
Dealer Engagement
Total Active Dealers		18,986		18,716		18,658		18,423			18,293		270			693
Total Application Volume (000s)		3,284		2,804		3,240		3,099			2,987		480			298
Ally U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings	$	13.5	$	17.3	$	16.0	$	15.8		$	26.1	$	(3.8	)	$	(12.6	)
Dealer loans and other		5.7		5.9		5.8		5.9			5.3		(0.2	)		0.4
Total Commercial outstandings	$	19.2	$	23.1	$	21.9	$	21.7		$	31.4	$	(3.9	)	$	(12.2	)
U.S. Off-Lease Remarketing
Off-lease vehicles terminated - on-balance sheet (# in units)		30,488		30,480		28,917		26,785			20,419		8			10,069
Average gain / (loss) per vehicle	$	2,114	$	2,150	$	2,437	$	(421	)	$	121	$	(37	)	$	1,993
Total gain / (loss) ($ in millions)	$	64	$	66	$	70	$	(11	)	$	2	$	(1	)	$	62

(1) Some standard rate loan originations contain manufacturer sponsored cash back rebate incentives. Some lease originations contain rate subvention. While Ally may jointly develop marketing programs for these originations, Ally does not have exclusive rights to such originations under operating agreements with manufacturers.

(2) Commercial Services Group (CSG) are business customers. Average annualized credit losses of 40-45 bps on CSG loans from 2016 through 1Q21

1Q 2021 Preliminary Results 10

ALLY FINANCIAL INC. INSURANCE - CONDENSED FINANCIAL STATEMENTS AND KEY STATISTICS

($ in millions)

	QUARTERLY TRENDS											CHANGE VS.
Income Statement (GAAP View)	1Q 21		4Q 20		3Q 20		2Q 20		1Q 20			4Q 20			1Q 20
Net financing revenue
Total interest and fees on finance receivables and loans(1)	$	4	$	1	$	-	$	-	$	-		$	3		$	4
Interest and dividends on investment securities		25		26		25		27		29			(1	)		(4	)
Interest bearing cash		-		1		4		4		5			(1	)		(5	)
Total financing revenue and other interest revenue		29		28		29		31		34			1			(5	)
Interest expense		14		20		21		19		20			(6	)		(6	)
Net financing revenue		15		8		8		12		14			7			1
Other revenue
Insurance premiums and service revenue earned		280		287		276		263		277			(7	)		3
Other gain / (loss) on investments, net		98		131		59		172		(142	)		(33	)		240
Other income, net of losses		1		3		3		3		2			(2	)		(1	)
Total other revenue		379		421		338		438		137			(42	)		242
Total net revenue		394		429		346		450		151			(35	)		243
Noninterest expense
Compensation and benefits expense		22		20		21		20		21			2			1
Insurance losses and loss adjustment expenses		63		62		85		142		74			1			(11	)
Other operating expenses		168		164		162		160		161			4			7
Total noninterest expense		253		246		268		322		256			7			(3	)
Pre-tax Income / (Loss)	$	141	$	183	$	78	$	128	$	(105	)	$	(42	)	$	246
Memo: Income Statement (Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	280	$	287	$	276	$	263	$	277		$	(7	)	$	3
Investment income (adjusted) (2)		102		28		54		95		54			73			48
Other income		1		3		3		3		2			(2	)		(1	)
Total insurance premiums and other income		383		318		333		361		333			64			50
Expense
Insurance losses and loss adjustment expenses		63		62		85		142		74			1			(11	)
Acquisition and underwriting expenses
Compensation and benefit expense		22		20		21		20		21			2			1
Insurance commission expense		136		133		130		127		126			3			10
Other expense		32		31		32		33		35			1			(3	)
Total acquistion and underwriting expense		190		184		183		180		182			6			8
Total expense		253		246		268		322		256			7			(3	)
Core pre-tax income / (loss) (2)		130		72		65		39		77			57			53
Change in the fair value of equity securities (2)		11		111		13		89		(182	)		(99	)		193
Income / (Loss) before income tax expense	$	141	$	183	$	78	$	128	$	(105	)	$	(42	)	$	246
Balance Sheet (Period-End)
Cash, trading and investment securities	$	5,706	$	5,421	$	6,006	$	5,920	$	5,193		$	285		$	513
Intercompany loans(1)		591		830		-		-		-			(239	)		591
Premiums receivable and other insurance assets		2,738		2,693		2,674		2,621		2,594			45			144
Other assets		186		193		264		199		633			(7	)		(447	)
Total assets	$	9,221	$	9,137	$	8,944	$	8,740	$	8,420		$	84		$	801
Key Statistics
Total written premiums and revenue (3)	$	333	$	312	$	333	$	267	$	317		$	21		$	16
Loss ratio (4)		22.4%		21.6%		30.3%		53.4%		26.5%
Underwriting expense ratio (5)		67.1%		63.5%		65.8%		67.4%		65.1%
Combined ratio		89.5%		85.1%		96.1%		120.9%		91.6%

(1) Intercompany activity represents excess liquidity placed with corporate segment

(2)Represents a non-GAAP financial measure. Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(3) Written premiums are net of ceded premium for reinsurance.

(4) Loss Ratio is calculated as Insurance losses and loss adjustment expenses divided by Insurance premiums and service revenue earned and Other Income, net of losses.

(5) Underwriting Expense Ratio is calculated as Compensation and benefits expense and Other operating expenses divided by Insurance premiums and service revenue earned and Other Income, net of losses.

1Q 2021 Preliminary Results 11

ALLY FINANCIAL INC. MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Net financing revenue
Total financing revenue and other interest income	$	93		$	101		$	121		$	127		$	138		$	(8	)	$	(45	)
Interest expense		70			81			91			97			100			(11	)		(30	)
Net financing revenue		23			20			30			30			38			3			(15	)
Gain on mortgage loans, net		36			33			34			17			9			3			27
Other income, net of losses		4			4			2			2			1			-			3
Total other revenue		40			37			36			19			10			3			30
Total net revenue		63			57			66			49			48			6			15
Provision for loan losses		(4	)		3			-			3			1			(7	)		(5	)
Noninterest expense
Compensation and benefits expense		6			5			6			5			6			1			-
Other operating expense		38			42			34			33			29			(4	)		9
Total noninterest expense		44			47			40			38			35			(3	)		9
Pre-tax Income	$	23		$	7		$	26		$	8		$	12		$	16		$	11
Balance Sheet (Period-End)
Finance receivables and loans, net:
Consumer loans	$	12,445		$	14,632		$	15,168		$	16,429		$	15,949		$	(2,187	)	$	(3,504	)
Allowance for loan losses		(16	)		(21	)		(20	)		(21	)		(18	)		5			2
Total finance receivables and loans, net		12,429			14,611			15,148			16,408			15,931			(2,182	)		(3,502	)
Other assets		494			278			355			261			204			216			290
Total assets	$	12,923		$	14,889		$	15,503		$	16,669		$	16,135		$	(1,966	)	$	(3,212	)

1Q 2021 Preliminary Results 12

ALLY FINANCIAL INC. CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Net financing revenue
Total financing revenue and other interest income	$	80		$	89		$	84		$	92		$	95		$	(9	)	$	(15	)
Interest expense		9			10			9			15			27			(1	)		(18	)
Net financing revenue		71			79			75			77			68			(8	)		3
Total other revenue (adjusted) (1)		21			16			8			5			17			4			4
Total net revenue		92			95			83			82			85			(4	)		7
Provision for loan losses		13			9			1			25			114			4			(101	)
Noninterest expense
Compensation and benefits expense		20			14			13			14			21			6			(1	)
Other operating expense		11			9			10			12			14			2			(3	)
Total noninterest expense		31			23			23			26			35			8			(4	)
Core pre-tax income (1)		48			63			59			31			(64	)		(16	)		112
Change in the fair value of equity securities (2)		5			1			1			1			(4	)		5			9
Pre-tax Income / (loss)	$	53		$	64		$	60		$	32		$	(68	)	$	(11	)	$	121
Balance Sheet (Period-End)
Equity securities	$	14		$	7		$	6		$	5		$	4		$	7		$	10
Loans held for sale		229			205			207			265			133			24			96
Commercial loans		6,285			6,006			5,883			6,031			6,549			279			(264	)
Allowance for loan losses		(187	)		(189	)		(180	)		(178	)		(191	)		2			4
Total finance receivables and loans, net		6,098			5,817			5,703			5,853			6,358			281			(260	)
Other assets		80			79			79			83			77			1			3
Total assets	$	6,421		$	6,108		$	5,995		$	6,206		$	6,572		$	313		$	(151	)

(1) Represents a non-GAAP financial measure. Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity. See page 21 for more details.

(2) Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

1Q 2021 Preliminary Results 13

ALLY FINANCIAL INC. CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Net financing revenue
Total financing revenue and other interest income	$	108		$	115		$	144		$	158		$	207		$	(7	)	$	(99	)
Interest expense
Core original issue discount amortization		10			9			9			9			8			-			1
Other interest expense		41			63			150			203			213			(21	)		(171	)
Total interest expense		51			72			159			212			221			(21	)		(170	)
Net financing revenue / (loss)		57			43			(15	)		(54	)		(14	)		14			71
Other revenue
Loss on extinguishment of debt		(1	)		(52	)		(49	)		(1	)		(0	)		51			(1	)
Other gain on investments, net		20			1			5			15			67			19			(47	)
Gain/(loss) on mortgage and automotive loans, net		-			42			(1	)		(3	)		(21	)		(42	)		21
Other income, net of losses (1)		39			156			85			41			13			(117	)		26
Total other revenue		58			147			40			52			59			(89	)		(1	)
Total net revenue		115			190			25			(2	)		45			(75	)		70
Provision for loan losses		-			4			18			3			22			(4	)		(22	)
Noninterest expense
Compensation and benefits expense		202			167			168			162			164			35			38
Goodwill impairment		-			-			-			50			-			-			-
Other operating expense (2)		(74	)		(20	)		(63	)		(57	)		(64	)		(54	)		(10	)
Total noninterest expense		128			147			105			155			100			(19	)		28
Pre-tax (loss) income	$	(13	)	$	39		$	(98	)	$	(160	)	$	(77	)	$	(52	)	$	64
Balance Sheet (Period-End)
Cash, trading and investment securities	$	45,746		$	42,324		$	45,775		$	44,411		$	32,560		$	3,422		$	13,186
Loans held-for-sale		117			110			78			48			34			7			83
Consumer loans		1,120			1,127			1,508			1,558			1,654			(7	)		(534	)
Commercial loans		192			185			131			130			134			7			58
Intercompany loans(3)		(591	)		(830	)		-			-			-			239			(591	)
Allowance for loan losses		(82	)		(87	)		(87	)		(71	)		(68	)		5			(14	)
Total finance receivables and loans, net		639			395			1,552			1,617			1,720			244			(1,081	)
Other assets		5,246			4,408			4,057			4,354			5,532			838			(286	)
Total assets	$	51,748		$	47,237		$	51,462		$	50,430		$	39,846		$	4,511		$	11,902
Core OID Amortization Schedule (4)	2021			2022			2023			2024			2025 & After
Remaining Core OID amortization expense	$	29		$	45		$	52		$	60			Avg = $52/yr

(1) Includes the impact of centralized asset and liability management, corporate overhead allocation activities, the legacy mortgage portfolio, Ally Invest activity, and Ally Lending activity.

(2) Other operating expenses includes corporate overhead allocated to the other business segments. Amounts of corporate overhead allocated were $257 million for 1Q21, $254 million for 4Q20, $234 million for 3Q20, $242 million for 2Q20 and $256 million for 1Q20. The receiving business segment records the allocation of corporate overhead expense within other operating expenses.

(3) Intercompany loan related to activity between Insurance and Corporate for liquidity purposes.

(4) Represents a non-GAAP financial measure. For more details refer to page 21.

1Q 2021 Preliminary Results 14

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION

($ in millions)

	QUARTERLY TRENDS											CHANGE VS.
Asset Quality - Consolidated (1)	1Q 21			4Q 20		3Q 20		2Q 20		1Q 20		4Q 20			1Q 20
Ending loan balance	$	113,068		$	118,526	$	118,020	$	118,226	$	128,129	$	(5,458	)	$	(15,061	)
30+ Accruing DPD	$	1,122		$	1,914	$	1,840	$	1,695	$	2,416	$	(792	)	$	(1,294	)
30+ Accruing DPD %		0.99%			1.61%		1.56%		1.43%		1.89%
60+ Accruing DPD	$	244		$	438	$	366	$	349	$	489	$	(194	)	$	(245	)
60+ Accruing DPD %		0.22%			0.37%		0.31%		0.30%		0.38%
Non-performing loans (NPLs)	$	1,439		$	1,522	$	1,493	$	1,532	$	1,396	$	(83	)	$	43
Net charge-offs (NCOs)	$	118		$	198	$	122	$	178	$	266	$	(80	)	$	(148	)
Net charge-off rate (2)		0.41%			0.67%		0.41%		0.58%		0.84%
Provision for loan losses	$	(13	)	$	102	$	147	$	287	$	903	$	(115	)	$	(916	)
Allowance for loan losses (ALLL)	$	3,152		$	3,283	$	3,379	$	3,354	$	3,245	$	(131	)	$	(93	)
ALLL as % of Loans (3) (4)		2.79%			2.78%		2.87%		2.85%		2.54%
ALLL as % of NPLs (3)		219%			216%		226%		219%		232%
ALLL as % of NCOs (3)		667%			414%		691%		471%		305%
US Auto Delinquencies - HFI Retail Contract $‘s
30+ Delinquent contract $	$	1,059		$	1,834	$	1,658	$	1,599	$	2,322	$	(775	)	$	(1,263	)
% of retail contract $ outstanding		1.43%			2.49%		2.25%		2.20%		3.19%
60+ Delinquent contract $	$	233		$	428	$	350	$	341	$	478
% of retail contract $ outstanding		0.32%			0.58%		0.47%		0.47%		0.66%
U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract $‘s
Net charge-offs	$	97		$	186	$	117	$	137	$	262	$	(89	)	$	(165	)
% of avg. HFI assets (2)		0.53%			1.01%		0.64%		0.76%		1.44%
U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract $‘s
Net charge-offs	$	0		$	7	$	4	$	1	$	2	$	(7	)	$	(2	)
% of avg. HFI assets (2)		-%			0.12%		0.07%		0.02%		0.03%

(1) Loans within this table are classified as held-for-investment recorded at amortized cost as these loans are included in our allowance for loan losses.

(2) Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding finance recievables and loans excluding loans measured at fair value, conditional repurchase loans and loans held-for-sale during the year for each loan category.

(3) ALLL coverage ratios are based on the allowance for loan losses related to loans held-for-investment excluding those loans held at fair value as a percentage of the unpaid principal balance, net of premiums and discounts.

(4) Excludes $173 million of fair value adjustment for loans in hedge accounting relationships in 1Q21, $225 million in 4Q20, $277 million in 3Q20, $334 million in 2Q20 and $370 million in 1Q20.

1Q 2021 Preliminary Results 15

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION, CONTINUED

($ in millions)

Automotive Finance (1)	QUARTERLY TRENDS										CHANGE VS.
Consumer	1Q 21		4Q 20		3Q 20		2Q 20		1Q 20		4Q 20			1Q 20
Allowance for loan losses	$	2,809	$	2,902	$	2,982	$	2,963	$	2,833	$	(93	)	$	(24	)
Total consumer loans (2)	$	73,998	$	73,668	$	73,761	$	72,712	$	72,832	$	330		$	1,166
Coverage ratio (3)		3.80%		3.95%		4.06%		4.09%		3.91%
Commercial
Allowance for loan losses	$	58	$	84	$	110	$	121	$	135	$	(26)		$	(77)
Total commercial loans	$	19,208	$	23,141	$	21,854	$	21,708	$	31,390	$	(3,933)		$	(12,182)
Coverage ratio		0.30%		0.36%		0.51%		0.56%		0.43%
Mortgage (1)
Consumer
Mortgage Finance
Allowance for loan losses	$	16	$	21	$	20	$	21	$	18	$	(5	)	$	(2)
Total consumer loans	$	12,445	$	14,632	$	15,168	$	16,429	$	15,949	$	(2,187	)	$	(3,504)
Coverage ratio		0.13%		0.15%		0.13%		0.13%		0.11%
Mortgage - Legacy
Allowance for loan losses	$	10	$	12	$	19	$	21	$	21	$	(2)		$	(11)
Total consumer loans	$	458	$	495	$	904	$	984	$	1,061	$	(37)		$	(603)
Coverage ratio		2.19%		2.40%		2.09%		2.08%		1.99%
Total Mortgage
Allowance for loan losses	$	26	$	33	$	39	$	42	$	39	$	(7	)	$	(13	)
Total consumer loans	$	12,903	$	15,127	$	16,072	$	17,413	$	17,010	$	(2,224	)	$	(4,107	)
Coverage ratio		0.20%		0.22%		0.24%		0.24%		0.23%
Consumer Other (1)(4)
Allowance for loan losses	$	69	$	73	$	67	$	49	$	45	$	(4	)	$	24
Total consumer loans	$	482	$	399	$	319	$	232	$	214	$	83		$	268
Coverage ratio		14.33%		18.38%		20.93%		21.06%		21.23%
Corporate Finance (1)
Allowance for loan losses	$	187	$	189	$	180	$	178	$	191	$	(2	)	$	(4)
Total commercial loans	$	6,285	$	6,006	$	5,883	$	6,031	$	6,549	$	279		$	(264)
Coverage ratio		2.98%		3.14%		3.05%		2.95%		2.92%
Corporate and Other (1)
Allowance for loan losses	$	3	$	2	$	1	$	1	$	2	$	1		$	1
Total commercial loans	$	192	$	185	$	131	$	130	$	134	$	7		$	58
Coverage ratio		1.36%		1.36%		1.13%		1.13%		1.36%

(1) ALLL coverage ratios are based on the domestic allowance as a percentage of finance receivables and loans reported at their gross carrying value, which includes the principal amount outstanding, net of unearned income, unamortized deferred fees reduced by costs on originated loans, unamortized premiums and discounts on purchased loans, unamortized basis adjustments arising from the designation of finance receivables and loans as the hedged item in qualifying fair value hedge relationships, and cumulative principal charge-offs. Excludes loans held at fair value.

(2) Includes $173 million of fair value adjustment for loans in hedge accounting relationships in 1Q21, $225 million in 4Q20, $277 million in 3Q20, $334 million in 2Q20 and $370 million in 1Q20.

(3) Excludes $173 million of fair value adjustment for loans in hedge accounting relationships in 1Q21, $225 million in 4Q20, $277 million in 3Q20, $334 million in 2Q20 and $370 million in 1Q20.

(4) Represents Health Credit Services (HCS) which Ally acquired in 4Q19 (now Ally Lending).

1Q 2021 Preliminary Results 16

ALLY FINANCIAL INC. CAPITAL

($ in billions)

	QUARTERLY TRENDS															CHANGE VS.
Capital	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Risk-weighted assets	$	138.8		$	139.8		$	137.6		$	137.0		$	146.1		$	(1.0	)	$	(7.3	)
Common Equity Tier 1 (CET1) capital ratio		11.1%			10.6%			10.4%			10.1%			9.3%
Tier 1 capital ratio		12.8%			12.4%			12.1%			11.9%			10.9%
Total capital ratio		14.6%			14.1%			14.1%			13.8%			12.8%
Tangible common equity / Tangible assets (1)(2)		7.8%			7.9%			7.4%			7.3%			7.2%
Tangible common equity / Risk-weighted assets (1)		10.3%			10.2%			10.0%			9.8%			9.0%
Shareholders’ equity	$	14.6		$	14.7		$	14.1		$	13.8		$	13.5		$	(0.1	)	$	1.1
add: CECL phase-in adjustment		1.2			1.2			1.2			1.2			1.2			-			-
less:   Certain AOCI items and other adjustments		(0.4	)		(1.0	)		(1.1	)		(1.2	)		(1.2	)		0.6			0.8
Common Equity Tier 1 capital	$	15.4		$	14.9		$	14.3		$	13.8		$	13.5		$	0.5		$	1.9
Common Equity Tier 1 capital	$	15.4		$	14.9		$	14.3		$	13.8		$	13.5		$	0.5		$	1.9
add: Trust preferred securities		2.5			2.5			2.5			2.5			2.5			-			-
less:   Other adjustments		(0.1	)		(0.1	)		(0.1	)		(0.1	)		(0.1	)		-			-
Tier 1 capital	$	17.8		$	17.3		$	16.7		$	16.2		$	16.0		$	0.5		$	1.8
Tier 1 capital	$	17.8		$	17.3		$	16.7		$	16.2		$	16.0		$	0.5		$	1.8
add: Qualifying subordinated debt		0.8			0.8			1.0			1.0			1.0			-			(0.2	)
add: Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		1.6			1.7			1.6			1.6			1.7			(0.1	)		(0.1	)
Total capital	$	20.2		$	19.8		$	19.3		$	18.9		$	18.6		$	0.4		$	1.6
Total shareholders’ equity	$	14.6		$	14.7		$	14.1		$	13.8		$	13.5		$	(0.1	)	$	1.1
Goodwill and intangible assets, net of deferred tax liabilities		(0.4	)		(0.4	)		(0.4	)		(0.4	)		(0.4	)		-			-
Tangible common equity (1)	$	14.2		$	14.3		$	13.7		$	13.4		$	13.1		$	(0.1	)	$	1.1
Total assets	$	181.9		$	182.2		$	185.3		$	184.1		$	182.5		$	(0.3	)	$	(0.6	)
less:   Goodwill and intangible assets, net of deferred tax liabilities		(0.4	)		(0.4	)		(0.4	)		(0.4	)		(0.4	)		-			-
Tangible assets (2)	$	181.5		$	181.8		$	184.9		$	183.7		$	182.1		$	(0.3	)	$	(0.6	)

Note: Numbers may not foot due to rounding

(1) Represents a non-GAAP financial measure. Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Ally believes that tangible common equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core return on tangible common equity (Core ROTCE), tangible common equity is further adjusted for tax-effected Core OID balance and net deferred tax asset.

(2) Represents a non-GAAP financial measure. Ally defines tangible assets as total assets less goodwill and intangible assets, net of deferred tax liabilities.

In December 2018, the FRB and other U.S. banking agencies approved a final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, the option to phase in the day-one impact of CECL over a three-year period. In March 2020, the FRB and other U.S. banking agencies issued an interim final rule that became effective on March 31, 2020, and provided an alternative option for banks to temporarily delay the impacts of CECL, relative to the incurred loss methodology for estimating the allowance for loan losses, on regulatory capital. A final rule that was largely unchanged from the March 2020 interim final rule was issued by the FRB and other U.S. banking agencies in August 2020, and became effective in September 2020. For regulatory capital purposes, these rules permitted us to delay recognizing the estimated impact of CECL on regulatory capital until after a two-year deferral period, which for us extends through December 31, 2021. Beginning on January 1, 2022, we will be required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the five-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and plan to phase in the regulatory capital impacts of CECL based on this five-year transition period.

1Q 2021 Preliminary Results 17

ALLY FINANCIAL INC. LIQUIDITY

($ in billions)

	QUARTERLY TRENDS										CHANGE VS.
Consolidated Available Liquidity	1Q 21		4Q 20		3Q 20		2Q 20		1Q 20		4Q 20		1Q 20
Liquid cash and cash equivalents (1)	$	15.2	$	14.9	$	19.3	$	18.6	$	5.7	$	0.3	$	9.5
Highly liquid securities (2)		28.0		24.8		23.5		23.4		24.0		3.2		4.0
Current committed unused capacity		0.4		0.6		1.4		1.6		0.4		-0.2		-0.0
Total current available liquidity	$	43.6	$	40.3	$	44.2	$	43.5	$	30.1	$	3.3	$	13.5
Unsecured Long-Term Debt Maturity Profile	2021		2022		2023		2024		2025		2026 & After
Consolidated remaining maturities (3)	$	0.6	$	1.1	$	2.0	$	1.5	$	2.3	$	2.5

(1) May include the restricted cash accumulation for retained notes maturing within the following 30 days and returned to Ally on the distribution date

(2) Includes unencumbered UST, Agency debt, Agency MBS, and highly liquid Corporates

(3) Excludes retail notes and trust preferred securities; as of 3/31/2021. Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs.

1Q 2021 Preliminary Results 18

ALLY FINANCIAL INC. NET INTEREST MARGIN AND DEPOSITS

($ in millions)

	QUARTERLY TRENDS										CHANGE VS.
Average Balance Details	1Q 21		4Q 20		3Q 20		2Q 20		1Q 20		4Q 20			1Q 20
Retail Auto Loans	$	73,500	$	73,401	$	72,999	$	72,262	$	72,550	$	99		$	950
Auto Lease (net of dep)		9,831		9,587		9,317		9,068		9,078		244			753
Commercial Auto		21,341		22,418		21,265		26,106		30,472		(1,077	)		(9,131	)
Corporate Finance		6,338		6,203		6,188		6,580		6,088		135			250
Mortgage(1)		14,310		15,445		17,096		17,422		17,296		(1,135	)		(2,986	)
Consumer Other(2)		444		366		285		221		225		78			219
Cash and Cash equivalents		15,363		17,758		20,719		12,496		4,853		(2,395	)		10,510
Investment Securities and Other		34,996		33,331		32,244		32,375		32,858		1,665			2,138
Total Earning Assets	$	176,123	$	178,509	$	180,113	$	176,530	$	173,420	$	(2,386)		$	2,703
Interest Revenue		1,929		1,947		1,970		1,926		2,103		(18	)		(174	)
Unsecured Debt (ex. Core OID balance) (3)(6)	$	12,910	$	12,735	$	12,315	$	11,627	$	12,182	$	175		$	728
Secured Debt		3,793		5,289		6,154		8,122		9,193		(1,496	)		(5,400	)
Deposits (4)		137,718		135,642		132,964		127,014		121,217		2,076			16,501
Other Borrowings (5)		6,307		9,462		14,427		16,567		17,302		(3,155	)		(10,995	)
Total Funding Sources (ex. Core OID balance) (3)	$	160,728	$	163,128	$	165,860	$	163,330	$	159,894	$	(2,400	)	$	834
Interest Expense (ex. Core OID) (3)		547		635		761		863		949		(88	)		(402	)
Net Financing Revenue (ex. Core OID) (3)	$	1,382	$	1,312	$	1,209	$	1,063	$	1,154	$	70		$	228
Net Interest Margin (yield details)
Retail Auto Loan		6.66%		6.57%		6.56%		6.48%		6.54%		0.09%			0.12%
Retail Auto Loan (excl. hedge impacts)		6.90%		6.83%		6.83%		6.77%		6.66%		0.07%			0.24%
Auto Lease (net of dep)		8.57%		7.82%		7.89%		4.10%		5.22%		0.75%			3.35%
Commercial Auto		3.49%		3.34%		3.30%		3.55%		4.11%		0.15%			(0.62)%
Corporate Finance		5.14%		5.69%		5.40%		5.64%		6.27%		(0.55)%			(1.13)%
Mortgage		2.74%		2.74%		3.00%		3.15%		3.45%		-%			(0.71)%
Consumer Other		14.95%		16.68%		17.77%		14.09%		13.52%		(1.73)%			1.43%
Cash and Cash Equivalents		0.10%		0.10%		0.11%		0.12%		1.16%		-%			(1.06)%
Investment Securities and Other		1.55%		1.70%		2.14%		2.47%		2.79%		(0.15)%			(1.24)%
Total Earning Assets		4.44%		4.34%		4.35%		4.39%		4.88%		0.10%			(0.44)%
Unsecured Debt (ex. Core OID & Core OID balance) (2)(5)		5.42%		5.45%		5.74%		6.11%		6.32%		(0.03)%			(0.90)%
Secured Debt		3.35%		3.07%		2.94%		2.64%		2.82%		0.28%			0.53%
Deposits (3)		0.90%		1.08%		1.35%		1.72%		1.97%		(0.18)%			(1.07)%
Other Borrowings(4)		2.47%		2.18%		2.36%		2.25%		2.34%		0.29%			0.13%
Total Funding Sources (ex. Core OID & Core OID balance) (2)		1.38%		1.55%		1.82%		2.13%		2.39%		(0.17)%			(1.01)%
NIM (as reported)		3.16%		2.90%		2.65%		2.40%		2.66%		0.26%			0.50%
NIM (ex. Core OID & Core OID balance) (2)		3.18%		2.92%		2.67%		2.42%		2.68%		0.26%			0.50%
Ally Bank Deposits
Key Deposit Statistics
Average retail CD maturity (months)		20.0		19.7		19.6		19.6		19.9		0.3			0.1
Average retail deposit rate		0.81%		0.97%		1.26%		1.64%		1.88%
End of Period Deposit Levels
Retail	$	128,370	$	124,357	$	120,789	$	115,813	$	106,068	$	4,013		$	22,301
Brokered & other	$	11,215	$	12,680	$	14,149	$	15,223	$	16,256	$	(1,465	)	$	(5,041	)
Total deposits	$	139,585	$	137,036	$	134,938	$	131,036	$	122,324	$	2,549		$	17,262
Deposit Mix
Retail CD		30%		33%		34%		36%		38%
MMA/OSA/Checking		62%		58%		56%		53%		49%
Brokered(3)		8%		9%		10%		11%		13%

(1) ‘Mortgage includes held-for-investment (HFI) loans from the Mortgage Finance segment and the HFI legacy mortgage portfolio in run-off at the Corporate and Other segment.

(2) Consumer Other’ consists of unsecured consumer lending from point-of-sale financing.

(3) Represents a non-GAAP financial measure. Excludes Core OID from interest expense and Core OID balance from Unsecured Debt.

(4) Includes retail, brokered, and other deposits. Brokered includes sweep deposits. Other includes mortgage escrow and other deposits.

(5) Includes Demand Notes (terminated on 3/1/21), FHLB Borrowings and Repurchase Agreements.

(6) Includes trust preferred securities.

1Q 2021 Preliminary Results 19

ALLY FINANCIAL INC. ALLY BANK CONSUMER MORTGAGE HFI PORTFOLIOS (PERIOD-END)

($ in billions)	QUARTERLY TRENDS
Mortgage Finance HFI Portfolio	1Q 21		4Q 20		3Q 20		2Q 20		1Q 20
Loan Value
Gross carry value	$	12.4	$	14.6	$	15.2	$	16.4	$	15.9
Net carry value	$	12.4	$	14.6	$	15.1	$	16.4	$	15.9
Estimated Pool Characteristics
% Second lien		0.0%		0.0%		0.0%		0.0%		0.0%
% Interest only		0.0%		0.0%		0.0%		0.0%		0.0%
% 30+ Day delinquent(1)(2)		0.8%		0.8%		1.3%		0.6%		0.5%
% Low/No documentation		0.2%		0.2%		0.2%		0.2%		0.2%
% Non-primary residence		4.9%		4.8%		4.7%		4.6%		4.5%
Refreshed FICO(3)		775		776		776		774		772
Wtd. Avg. LTV/CLTV (4)		57.5%		60.1%		60.3%		60.4%		60.0%
Corporate Other Legacy Mortgage HFI Portfolio
Loan Value
Gross carry value	$	0.5	$	0.5	$	0.9	$	1.0	$	1.1
Net carry value	$	0.4	$	0.5	$	0.9	$	1.0	$	1.0
Estimated Pool Characteristics
% Second lien		18.0%		19.8%		12.6%		13.2%		13.6%
% Interest only		0.1%		0.1%		0.1%		0.1%		0.1%
% 30+ Day delinquent(1)(2)		7.0%		7.1%		4.7%		4.0%		5.1%
% Low/No documentation		22.5%		22.2%		24.0%		23.4%		23.1%
% Non-primary residence		3.7%		3.6%		7.1%		6.9%		7.1%
Refreshed FICO(3)		731		733		733		730		730
Wtd. Avg. LTV/CLTV (4)		62.2%		62.8%		59.2%		62.1%		63.0%

1) MBA Delinquency buckets were used for First Lien products and OTS Delinquency buckets were used for all others

2) %30+Day Delinquency bucket excludes loans which are current but are in bankruptcy

3) Refreshed FICO includes the entire Bank HFI portfolio, inclusive of SBO. Previously, SBO loans had been excluded from our reporting

4) 1st lien only. Updated home values derived using a combination of appraisals, BPOs, AVMs and MSA level house price indices

1Q 2021 Preliminary Results 20

ALLY FINANCIAL INC. EARNINGS PER SHARE RELATED INFORMATION

($ in millions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Earnings Per Share Data	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
GAAP net income (loss) attributable to common shareholders	$	796		$	687		$	476		$	241		$	(319	)	$	109		$	1,115
Weighted-average common shares outstanding - basic (1)		375,229			376,081			375,658			375,051			375,723			(852	)		(494	)
Weighted-average common shares outstanding - diluted (1)		377,529			378,424			377,011			375,762			375,723			(895	)		1,806
Issued shares outstanding (period-end)		371,805			374,674			373,857			373,837			373,155			(2,870	)		(1,350	)
Net income (loss) per share - basic (1)	$	2.12		$	1.83		$	1.27		$	0.64		$	(0.85	)	$	0.29		$	2.97
Net income (loss) per share - diluted (1)	$	2.11		$	1.82		$	1.26		$	0.64		$	(0.85	)	$	0.29		$	2.96
Adjusted Earnings per Share (“Adjusted EPS”)
Numerator
GAAP net income (loss) attributable to common shareholders	$	796		$	687		$	476		$	241		$	(319	)	$	109		$	1,115
Discontinued operations, net of tax		-			-			-			1			-			-			-
Core OID		10			9			9			9			8			0			1
Change in the fair value of equity securities (2)		(17	)		(111	)		(13	)		(90	)		185			95			(202	)
Core OID & change in the fair value of equity securities tax (tax rate 21%)		1			21			1			17			(41	)		(20	)		42
Repositioning and other (3)		-			-			-			50			-			-			-
Core net income attributable to common shareholders (4)	$	790		$	606		$	473		$	228		$	(166	)	$	184		$	956
Denominator
Weighted-average common shares outstanding - diluted (1)		377,529			378,424			377,011			375,762			375,723			(895	)		1,806
Adjusted EPS (5)	$	2.09		$	1.60		$	1.25		$	0.61		$	(0.44	)	$	0.49		$	2.54
Memo
Original Issue Discount Amortization Expense
Core original issue discount (Core OID) amortization expense (6)	$	10		$	9		$	9		$	9		$	8		$	0		$	1
Other OID		3			3			3			4			3			-			-
GAAP original issue discount amortization expense	$	12		$	13		$	12		$	12		$	11		$	-		$	1
Outstanding Original Issue Discount Balance
Core outstanding original issue discount balance (Core OID balance) (7)	$	(1,018	)	$	(1,027	)	$	(1,037	)	$	(1,046	)	$	(1,055	)	$	10		$	37
Other outstanding OID balance		(34	)		(37	)		(48	)		(46	)		(34	)		3			-
GAAP outstanding original issue discount balance	$	(1,052	)	$	(1,064	)	$	(1,084	)	$	(1,092	)	$	(1,089	)	$	12		$	37
Adjusted Other Revenue
GAAP Other Revenue	$	565		$	678		$	484		$	555		$	266		$	(113	)	$	299
Change in the fair value of equity securities (2)		(17	)		(111	)		(13	)		(90	)		185			95			(202	)
Adjusted Other Revenue	$	548		$	567		$	471		$	465		$	451		$	(18	)	$	97
Net Financing Revenue (ex. Core OID)
GAAP net financing revenue	$	1,372		$	1,303		$	1,200		$	1,054		$	1,146		$	69		$	226
Core OID		10			9			9			9			8			0			1
Net Financing Revenue (ex. Core OID)	$	1,382		$	1,312		$	1,209		$	1,063		$	1,154		$	69		$	227
Adjusted Noninterest Expense
GAAP Noninterest expense	$	943		$	1,023		$	905		$	985		$	920		$	(80	)	$	23
Repositioning and other (3)		-			-			-			(50	)		-			-			-
Adjusted Noninterest Expense	$	943		$	1,023		$	905		$	935		$	920		$	(80	)	$	23

(1) Due to antidilutive effect of the net loss from pre-tax loss from continuing operations attributable to common shareholders for the first quarter 2020, basic weighted average common shares outstanding were used to calculate diluted earnings per share

(2) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(3) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

(4) Core net income attributable to common shareholders is a non-GAAP financial measure that serves as the numerator in the calculations of Adjusted EPS and Core ROTCE and that, like those measures, is believed by management to help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Core net income attributable to common shareholders adjusts GAAP net income attributable to common shareholders for discontinued operations net of tax, tax-effected Core OID expense, repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, significant discrete tax items and tax-effected changes in equity investments measured at fair value, as applicable for respective periods

(5) Adjusted earnings per share (Adjusted EPS) ) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) excludes equity fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, and (5) excludes significant discrete tax items that do not relate to the operating performance of the core businesses, and adjusts for preferred stock capital actions (e.g., Series A and Series G) that have been taken by the company to normalize its capital structure, as applicable for respective periods.

(6) Core original issue discount (Core OID) amortization expense is a non-GAAP financial measure for OID, and is believed by management to help the reader better understand the activity removed from: Core pre-tax income (loss), Core net income (loss) attributable to common shareholders, Adjusted EPS, Core ROTCE, Adjusted efficiency ratio, Adjusted total net revenue, and Net financing revenue (excluding Core OID). Core OID is primarily related to bond exchange OID which excludes international operations and future issuances.

(7) Core outstanding original issue discount balance (Core OID balance) is a non-GAAP financial measure for outstanding OID, and is believed by management to help the reader better understand the balance removed from Core ROTCE and Adjusted TBVPS. Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances.

1Q 2021 Preliminary Results 21

ALLY FINANCIAL INC. ADJUSTED TANGIBLE BOOK PER SHARE RELATED INFORMATION

($ in billions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Adjusted Tangible Book Value Per Share (“Adjusted TBVPS”) Information	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Numerator
GAAP common shareholder’s equity	$	14.6		$	14.7		$	14.1		$	13.8		$	13.5		$	(0.1	)	$	1.1
Goodwill and identifiable intangibles, net of DTLs		(0.4	)		(0.4	)		(0.4	)		(0.4	)		(0.4	)		-			0.1
Tangible common equity		14.2			14.3			13.7			13.4			13.1			(0.1	)		1.2
Tax-effected Core OID balance (21% tax rate)		(0.8	)		(0.8	)		(0.8	)		(0.8	)		(0.8	)		-			-
Adjusted tangible book value (1)	$	13.4		$	13.5		$	12.9		$	12.6		$	12.2		$	(0.1	)	$	1.2
Denominator
Issued shares outstanding (period-end, thousands)		371,805			374,674			373,857			373,837			373,155			(2,870	)		(1,350	)
GAAP common shareholder’s equity per share	$	39.3		$	39.2		$	37.8		$	37.0		$	36.2		$	0.1		$	3.1
Goodwill and identifiable intangibles, net of DTLs per share		(1.0	)		(1.0	)		(1.0	)		(1.0	)		(1.2	)		-			0.2
Tangible common equity per share		38.3			38.2			36.7			35.9			35.0			0.1			3.3
Tax-effected Core OID balance (21% tax rate) per share		(2.2	)		(2.2	)		(2.2	)		(2.2	)		(2.2	)		-			0.1
Adjusted tangible book value per share(1)	$	36.2		$	36.1		$	34.6		$	33.7		$	32.8		$	0.1		$	3.4

(1) Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for (1) goodwill and identifiable intangibles, net of DTLs, and (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods.

Note: In December 2017, tax-effected Core OID balance was adjusted from a statutory U.S. Federal tax rate of 35% to 21% (“rate”) as a result of changes to U.S. tax law. The adjustment conservatively increased the tax-effected Core OID balance and consequently reduced Adjusted TBVPS as any acceleration of the non-cash charge in future periods would flow through the financial statements at a 21% rate versus a previously modeled 35% rate.

1Q 2021 Preliminary Results 22

ALLY FINANCIAL INC. CORE ROTCE RELATED INFORMATION

($ in millions) unless noted otherwise

	QUARTERLY TRENDS															CHANGE VS.
Core Return on Tangible Common Equity (“Core ROTCE”)	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Numerator
GAAP net income attributable to common shareholders	$	796		$	687		$	476		$	241		$	(319	)	$	109		$	1,115
Discontinued operations, net of tax		-			-			-			1			-			-			-
Core OID		10			9			9			9			8			0			1
Change in the fair value of equity securities (1)		(17	)		(111	)		(13	)		(90	)		185			95			(202	)
Core OID & change in the fair value of equity securities tax (tax rate 21%) (1)		1			21			1			17			(41	)		(20	)		42
Repositioning and other (2)		-			-			-			50			-			-			-
Core net income attributable to common shareholders (3)	$	790		$	606		$	473		$	228		$	(166	)	$	184		$	956
Denominator (average, $ billions)
GAAP shareholder’s equity	$	14.7		$	14.4		$	14.0		$	13.7		$	14.0		$	0.2		$	0.7
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(0.4	)		(0.4	)		(0.4	)		(0.4	)		(0.4	)		0.0			0.1
Tangible common equity	$	14.3		$	14.0		$	13.6		$	13.3		$	13.5		$	0.3		$	0.8
Core OID balance		(1.0	)		(1.0	)		(1.0	)		(1.1	)		(1.1	)		-			-
Net deferred tax asset (“DTA”)		(0.1	)		(0.1	)		(0.1	)		(0.2	)		(0.1	)		(0.1	)		-
Normalized common equity (4)	$	13.1		$	12.9		$	12.4		$	12.0		$	12.3		$	0.2		$	0.8
Core Return on Tangible Common Equity (5)		24.1%			18.7%			15.2%			7.6%			-5.4%

(1) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU 2016-01, which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(2) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

(3) Core net income attributable to common shareholders is a non-GAAP financial measure that serves as the numerator in the calculations of Adjusted EPS and Core ROTCE and that, like those measures, is believed by management to help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Core net income attributable to common shareholders adjusts GAAP net income attributable to common shareholders for discontinued operations net of tax, tax-effected Core OID expense, repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, significant discrete tax items and tax-effected changes in equity investments measured at fair value, as applicable for respective periods.

(4) Normalized common equity is a non-GAAP measure calculated using 2 period average

(5) Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is based on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share.

1. In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant onetime items, tax-effected Core OID, fair value adjustments (net of tax) related to ASU 2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods

2. In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA.

1Q 2021 Preliminary Results 23

ALLY FINANCIAL INC. ADJUSTED EFFICIENCY RATIO RELATED INFORMATION

($ in millions)

	QUARTERLY TREND															CHANGE VS.
Adjusted Efficiency Ratio Calculation	1Q 21			4Q 20			3Q 20			2Q 20			1Q 20			4Q 20			1Q 20
Numerator
GAAP Noninterest expense	$	943		$	1,023		$	905		$	985		$	920		$	(80	)	$	23
Insurance expense		(253	)		(246	)		(268	)		(322	)		(256	)		(7	)		3
Repositioning and other (1)		-			-			-			(50	)		-			-			-
Adjusted noninterest expense for the efficiency ratio	$	690		$	777		$	637		$	613		$	664		$	(87	)	$	26
Denominator
Total net revenue	$	1,937		$	1,981		$	1,684		$	1,609		$	1,412		$	(44	)	$	525
Core OID		10			9			9			9			8			-			1
Insurance revenue		(394	)		(429	)		(346	)		(450	)		(151	)		35			(243	)
Adjusted net revenue for the efficiency ratio	$	1,553		$	1,561		$	1,347		$	1,168		$	1,269		$	(9	)	$	283
Adjusted Efficiency Ratio (2)		44.4%			49.8%			47.3%			52.5%			52.3%

(1) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

(2) Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Insurance segment expense, Rep and warrant expense, and repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, as applicable for respective periods. In the denominator, total net revenue is adjusted for Insurance segment revenue and Core OID. See page 11 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance business.

1Q 2021 Preliminary Results 24

XML

Document and Entity Information	Apr. 16, 2021
Document And Entity Information [Line Items]
Document Period End Date	Apr. 16, 2021
Amendment Flag	false
Entity Central Index Key	0000040729
Document Type	8-K
Entity File Number	1-3754
Entity Registrant Name	ALLY FINANCIAL INC.
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	38-0572512
Entity Address, Address Line One	Ally Financial Inc.
Entity Address, Address Line Two	500 Woodward Avenue
Entity Address, Address Line Three	Floor 10
Entity Address, City or Town	Detroit
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48226
City Area Code	(866)
Local Phone Number	710-4623
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common Stock, par value $0.01 per share
Trading Symbol	ALLY
Security Exchange Name	NYSE
Auction Rate Preferred Securities [Member]
Document And Entity Information [Line Items]
Security 12b Title	8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2 of GMAC Capital Trust I
Trading Symbol	ALLY PRA
Security Exchange Name	NYSE