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