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

October 18, 2023

(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 Detroit Center

500 Woodward Ave.

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 (listed on the New York Stock Exchange):

Title of each class	Trading symbols
Common Stock, par value $0.01 per share	ALLY

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 October 18, 2023, Ally Financial Inc. issued a press release announcing preliminary operating results for the third quarter ended September 30, 2023. 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 October 18, 2023
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: October 18, 2023	/s/ David J. DeBrunner
	David J. DeBrunner
	Vice President, Controller, and Chief Accounting Officer

EX-99.1

Exhibit 99.1 

 News release: IMMEDIATE RELEASE

Ally Financial Reports Third Quarter 2023 Financial Results

$0.88	9.9%	$228 million	$1.97 billion
GAAP EPS	RETURN ON COMMON EQUITY	PRE-TAX INCOME	GAAP TOTAL NET REVENUE
$0.83	12.9%	$326 million	$2.04 billion
ADJUSTED EPS1	CORE ROTCE1	CORE PRE-TAX INCOME1	ADJUSTED TOTAL NET REVENUE1

	•  Proactive expense management driving $80M annual benefit through lower headcount ($30M restructuring cost | $0.08 EPS)
	•  Valuation allowance release and state law change drove significant tax benefits within the quarter ($94M tax benefit | $0.31 EPS)
	•  Both items are included in GAAP results, but excluded from adjusted metrics (Adjusted EPS and Core ROTCE)

	•  A record 3.7 million consumer auto applications driving $10.6 billion of origination volume
	•  Originated yield of 10.7% with over 40% of volume originated within highest credit quality tier
	•  Annualized retail auto net charge-offs of 185bps, in-line with prior quarter guidance
	•  Insurance earned premiums of $324 million; highest since 2009
	•  $153 billion of total deposits, up $7.1 billion year over year; 3.0 million customers
	•  1.2 million active credit cardholders; integration and launch of OneAlly experience to be completed in the fourth quarter of 2023
	•  Corporate finance floating rate HFI loans of $10.6 billion with ~100% in first lien position

	“Ally reported solid operating and financial results in the third quarter which reflect our commitment to drive long-term value for all stakeholders,” said Chief Executive Officer Jeffrey J. Brown. “The interest rate backdrop, including high short-term rates, affected third quarter results and will continue to do so in the near-term as the balance sheet gradually reprices. As we navigate a dynamic market backdrop, we remain focused on the controllables and have taken steps to prepare for a variety of operating environments.”
	“Our leading franchises continue to demonstrate the benefits of scale and strength we’ve built over the past decade. Across Dealer Financial Services we decisioned a record 3.7 million consumer applications, driving $10.6 billion of originations at attractive risk-adjusted returns and Insurance earned $324 million of premiums, the highest since 2009. At Ally Bank, we reached 3 million retail deposit customers, including 95 thousand new customers in the quarter. Retail deposits totaled $140 billion and 92% of balances are FDIC insured. These results are a testament to the strong execution against our strategic priorities as we head into the final quarter of 2023.”
	“Leading Ally and the company’s transformation over the past nine years has been an honor. The team we’ve built and the culture we’ve established are unparalleled, and our greatest competitive advantage. The combination of an outstanding management team, a respected board of directors, and highly engaged associates will enable Ally to thrive for many years to come. The decision to leave is a difficult one. I’m incredibly proud of what has been accomplished, and excited to witness the next chapter of Ally’s evolution and innovation, now as a customer. I will continue to work diligently with our board to ensure a successful CEO transition over the coming months.”

 Third Quarter 2023 Financial  Results 

										Increase / (Decrease) vs.
($ millions except per share data)		3Q 23			2Q 23			3Q 22		2Q 23		3Q 22
GAAP Net Income Attributable to Common Shareholders	$	269		$	301		$	272		(11	)%	(1	)%
Core Net Income Attributable to Common Shareholders1	$	252		$	291		$	346		(13	)%	(27	)%
GAAP Earning per Common Share	$	0.88		$	0.99		$	0.88		(11	)%	—	%
Adjusted EPS1	$	0.83		$	0.96		$	1.12		(14	)%	(26	)%
Return on GAAP Shareholder’s Equity		9.9	%		10.8	%		10.0	%	(8	)%	(1	)%
Core ROTCE1		12.9	%		13.9	%		17.2	%	(8	)%	(25	)%
GAAP Common Shareholder’s Equity per Share	$	34.81		$	37.16		$	33.66		(6	)%	3	%
Adjusted Tangible Book Value per Share1	$	29.79		$	32.08		$	28.39		(7	)%	5	%
GAAP Total Net Revenue	$	1,968		$	2,079		$	2,016		(5	)%	(2	)%
Adjusted Total Net Revenue1	$	2,036		$	2,066		$	2,089		(1	)%	(3	)%
Pre-Provision Net Revenue1	$	736		$	830		$	855		(11	)%	(14	)%
Core Pre-Provision Net Revenue1	$	834		$	817		$	948		2	%	(12	)%

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: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-provision net revenue (Core PPNR), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), Pre-provision net revenue (PPNR), and Tangible Common Equity. 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 along with reconciliations to GAAP later in this document.

Discussion of Third Quarter 2023  Results 

Net income attributable to common shareholders was $269 million in the quarter, compared to $272 million in the third quarter of 2022 driven by lower net financing revenue, higher provision for credit losses, and higher noninterest expenses, partially offset by higher other revenue and an income tax benefit.

Net financing revenue was $1.5 billion, down $186 million year over year primarily driven by higher funding costs given the rapid increase in short-term rates, partially offset by the strength of auto pricing, floating rate asset yields, and loan growth.

Other revenue increased $138 million year over year to $435 million, driven by an impairment on a nonmarketable equity investment in the prior year period as well as underlying momentum across insurance, SmartAuction, and the consumer banking businesses. Adjusted other revenue^A, excluding the change in fair value of equity securities, increased $132 million year over year to $491 million.

Net interest margin (“NIM”) of 3.24%, including Core OID^B of 2 bps, decreased 57 bps year over year. Excluding Core OID^B, NIM was 3.26%, down 57 bps year over year, primarily driven by higher funding costs and partially offset by higher retail auto and floating rate asset yields.

Provision for credit losses increased $70 million year over year to $508 million, reflecting credit normalization, and reserve build driven by loan growth.

Noninterest expense increased $71 million year over year primarily due to restructuring expenses and insurance losses.

^AAdjusted other revenue is a non-GAAP financial measure. Adjusted for (i) change in the fair value of equity securities.

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

 Third Quarter 2023 Financial Results 

										Increase/(Decrease) vs.
($ millions except per share data)	3Q 23			2Q 23			3Q 22			2Q 23			3Q 22
(a) Net Financing Revenue	$	1,533		$	1,573		$	1,719		$	(40	)	$	(186	)
Core OID1		12			12			11			0			2
Net Financing Revenue (excluding Core OID)1		1,545			1,585			1,730			(40	)		(184	)
(b) Other Revenue		435			506			297			(71	)		138
Change in Fair Value of Equity Securities2		56			(25	)		62			81			(6	)
Adjusted Other Revenue1		491			481			359			10			132
(c) Provision for Credit Losses		508			427			438			81			70
(d) Noninterest Expense		1,232			1,249			1,161			(17	)		71
Repositioning3		30			—			20			30			10
Noninterest Expense (excluding Repositioning)1		1,202			1,249			1,141			(47	)		61
Pre-Tax Income (a+b-c-d)	$	228		$	403		$	417		$	(175	)	$	(189	)
Income Tax Expense		(68	)		74			117			(142	)		(185	)
Net Loss from Discontinued Operations		—			—			(1	)		—			1
Net Income	$	296		$	329		$	299		$	(33	)	$	(3	)
Preferred Dividends		27			28			27			(1	)		—
Net Income Attributable to Common Shareholders	$	269		$	301		$	272		$	(32	)	$	(3	)
GAAP EPS (diluted)	$	0.88		$	0.99		$	0.88		$	(0.11	)	$	0.00
Core OID, Net of Tax1		0.03			0.03			0.03			0.00			0.00
Change in Fair Value of Equity Securities, Net of Tax3		0.14			(0.06	)		0.16			0.21			(0.01	)
Repositioning, Discontinued Ops., and Other, Net of Tax3		0.08			—			0.05			0.08			0.02
Significant Discrete Tax Items		(0.31	)		—			—			(0.31	)		(0.31	)
Adjusted EPS1	$	0.83		$	0.96		$	1.12		$	(0.13	)	$	(0.29	)

(1) 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.

(2) Impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income.

(3) Contains non-GAAP financial measures and other financial measures. See pages 5 and 6 for definitions.

Note: Repositioning items represent restructuring costs in 3Q’23 and costs associated with termination of legacy qualified pension plan in 3Q’22.

2

 Pre-Tax Income by Segment 

											Increase/(Decrease) vs.
($ millions)		3Q 23			2Q 23			3Q 22			2Q 23			3Q 22
Automotive Finance	$	377		$	501		$	488		$	(124	)	$	(111	)
Insurance		(16	)		8			(30	)		(24	)		14
Dealer Financial Services	$	361		$	509		$	458		$	(148	)	$	(97	)
Corporate Finance		84			72			91			12			(7	)
Mortgage Finance		26			21			19			5			7
Corporate and Other		(243	)		(199	)		(151	)		(44	)		(92	)
Pre-Tax Income from Continuing Operations	$	228		$	403		$	417		$	(175	)	$	(189	)
Core OID1		12			12			11			0			2
Change in Fair Value of Equity Securities2,3		56			(25	)		62			81			(6	)
Repositioning and Other3		30			—			20			30			10
Core Pre-Tax Income1	$	326		$	390		$	510		$	(64	)	$	(184	)

(1) 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.

(2) Change in fair value of equity securities primarily impacts the Insurance, Corporate Finance, and Corporate and Other segments. Reflects equity fair value adjustments which requires change in the fair value of equity securities to be recognized in current period net income.

(3) Contains non-GAAP financial measures and other financial measures. See pages 5 and 6 for definitions.

Discussion of Segment Results

Auto Finance Pre-tax income of $377 million was down $111 million year over year, primarily driven by continued consumer credit normalization. Net financing revenue of $1,360 million was $57 million higher year over year, driven by higher retail and commercial assets, retail portfolio yield growth, and higher lease gains. Ally’s retail auto portfolio yield increased 161 bps year over year to 8.90% as the portfolio turns over and reflects higher originated yields from recent periods. Provision for credit losses of $444 million increased $116 million year over year, driven by higher retail net charge-offs, partially offset by slower in-period retail reserve build. The retail auto net charge-off rate was 1.85%, in-line with expectations. Consumer auto originations of $10.6 billion included $6.9 billion of used retail volume, or 66% of total originations, $2.9 billion of new retail volume, and $0.7 billion of leases. Estimated retail auto originated yieldC of 10.7% in the quarter was up 193 bps year over year. End-of-period auto earning assets increased $5.5 billion year over year from $110.9 billion to $116.4 billion, due to an increase in both consumer and commercial auto earning assets. End-of-period consumer auto earning assets of $95.3 billion increased $0.6 billion year over year, driven by strong retail originations aided by a stable flow of pooled asset purchases from forward flow partners, partially offset by a decrease in lease assets. End-of-period commercial earning assets of $21.1 billion were $4.9 billion higher year over year, driven by an increase in industry new vehicle supply and higher dealer loans, partially offset by a decrease in industry used vehicle supply. Insurance Pre-tax loss of $16 million was $14 million favorable compared to the prior year. Results reflect a $46 million decrease in the fair value of equity securities during the quarter, which was $16 million favorable to the prior year. Core pre-tax incomeD of $30 million decreased $2 million year over year as the increase from higher earned premiums reflecting solid growth trajectory and a durable revenue stream coupled with higher investment income during the quarter was offset by elevated insurance losses and higher acquisition and underwriting expense. Written premiums were $335 million, up 15% year over year, driven by P&C premiums increasing from growing dealer inventory and other dealer products, as well as F&I growth driven by higher volume in Canada and other US ancillary products. Total investment income, excluding a $46 million decrease in the fair value of equity securities during the quarterE, was $44 million, up $14 million year over year due to higher realized gains in the current year and broader equity market trends.

^CEstimated 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. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

^DRepresents a non-GAAP financial measure. Adjusts GAAP other revenue for OID expenses, repositioning, and change in fair value of equity securities. Management believes adjusted other revenue is a helpful financial metric because it enables the reader to better understand the business’ ability to generate other revenue. Refer to the definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

^EChange in the fair value of equity securities to be recognized in current period net income. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

3

Discussion of Segment Results

Corporate Finance

Pre-tax income of $84 million in the quarter was $7 million lower year over year driven by lower other revenue, partially offset by higher net financing revenue and lower provision expense.

Net financing revenue increased $17 million year over year to $97 million primarily driven by higher average asset balances. Other revenue of $24 million was down $30 million year over year due to an investment gain related to a previously restructured loan exposure in the prior year period.

Provision for credit losses of $5 million decreased $8 million from the prior year period due to lower net specific provisions in the current year.

The held-for-investment loan portfolio of $10.6 billion was up 14% year over year and includes 61% asset-based loans with nearly 100% in first lien position. Loans secured by commercial real estate comprise less than 1% of consolidated Ally total loans and are concentrated entirely within the healthcare space.

Mortgage Finance

Pre-tax income of $26 million was up $7 million year over year, driven primarily by the impact of declining mortgage banking related operating expenses linked to the variable cost direct-to-consumer partnership model.

Net financing revenue was down $4 million year over year to $53 million, reflecting a decrease in asset balances combined with higher cost of funds. Other revenue decreased $3 million year over year to $4 million. Additionally, provision expense declined $4 million due to lower net charge-offs and lower reserves on the asset decline.

Direct-to-consumer originations totaled $267 million in the quarter, down 49% year over year, reflective of current contraction in the mortgage market.

Existing Ally Bank deposit customers accounted for more than 50% of the quarter’s direct-to-consumer origination volume.

Capital, Liquidity & Deposits

Capital Ally paid a $0.30 per share quarterly common dividend, which was unchanged year over year. Ally’s board of directors approved a $0.30 per share common dividend for the fourth quarter of 2023. Ally did not repurchase any shares on the open market during the quarter. Ally’s Common Equity Tier 1 (CET1) capital ratio was 9.3%, and risk weighed assets (RWA) increased from $159.2 billion to $161.1 billion, mainly driven by commercial and retail auto loan growth. Liquidity & Funding Liquid cash and cash equivalentsF totaled $8.0 billion at quarter-end, down from $9.5 billion at the end of the second quarter. Highly liquid securities were $19.6 billion and unused pledged borrowing capacity at the FHLB and FRB was $11.0 billion and $25.6 billion, respectively, at quarter-end. Total current available liquidityG was $64.2 billion at quarter-end, equal to 5.6x uninsured deposit balances. Deposits represented 87% of Ally’s funding portfolio at quarter-end. Deposits Retail deposits increased to $140.1 billion at quarter-end, up $6.2 billion year over year and up $1.1 billion quarter over quarter. Total deposits increased $7.1 billion year over year to $152.8 billion and Ally maintained industry-leading customer retention at 96%. The average retail portfolio deposit rate was 4.00% for the quarter, up 250 bps year over year and up 31 bps quarter over quarter. Ally’s retail deposit customer growth experienced the best third quarter performance in Ally history with 95 thousand net new customers in the quarter, totaling 3.0 million customers at quarter-end, up 15% year over year. Millennials and younger customers continue to comprise the largest generation segment of new customers, accounting for 72% of new customers in the quarter. Approximately 287 thousand deposit customers maintained an Ally Invest, Ally Home or Ally Credit Card relationship at quarter-end.

   

^FCash & 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. See page 18 of the Financial Supplement for more details.

^GTotal liquidity includes cash & cash equivalents, highly liquid securities and current unused borrowing capacity at the FHLB, and FRB Discount Window. See page 18 of the Financial Supplement for more details.

4

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) change in fair value of equity securities, (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 that have been taken by the company to normalize its capital structure, as applicable for respective periods. See page 6 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, change in fair value of equity securities, 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.

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, and (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered, as applicable for respective periods.

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) change in fair value of equity securities (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 the Pre-Tax Income by Segment Table on page 3 for calculation methodology and details.

Pre-provision net revenue (PPNR) is a non-GAAP financial measure calculated by adding GAAP Net Financing Revenue and GAAP Other Revenue then subtracting GAAP Noninterest expense, excluding Provision for credit losses. Management believes that PPNR is a helpful financial metric because it enables the reader to assess the business’ ability to generate earnings to cover credit losses and as it is utilized by Federal Reserve’s approach to modeling within the Supervisory Stress Test Framework that generally follows U.S. generally accepted accounting principles (GAAP) and includes a calculation of PPNR as a component of projected pre-tax net income.

Core pre-provision net revenue (Core PPNR) is a non-GAAP financial measure calculated by adding GAAP Net Financing Revenue and GAAP Other Revenue and subtracting GAAP Noninterest expense then adding Core OID and repositioning expenses, excluding Provision for credit losses. Management believes that Core PPNR is a helpful financial metric because it enables the reader to assess the core business’ ability to generate earnings to cover credit losses.

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.

Net Interest Margin (excluding Core OID) is calculated using a non-GAAP measure that adjusts net interest margin by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net interest margin ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’s profitability and margins.

Net Financing Revenue (excluding Core OID) is calculated using a non-GAAP measure that adjusts net financing revenue by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net financing revenue ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’s ability to generate revenue.

Adjusted Other Revenue is a non-GAAP financial measure that adjusts GAAP other revenue for OID expenses, repositioning, and change in fair value of equity securities. Management believes adjusted other revenue is a helpful financial metric because it enables the reader better understand the business’s ability to generate other revenue.

Adjusted Total Net Revenue is a non-GAAP financial measure that management believes is helpful for readers to understand the ongoing ability of the company to generate revenue. For purposes of this calculation, GAAP net financing revenue is adjusted by excluding Core OID to calculate net financing revenue ex. core OID. GAAP other revenue is adjusted for OID expenses, repositioning, and change in fair value of equity securities to calculate adjusted other revenue. Adjusted total net revenue is calculated by adding net financing revenue ex. core OID to adjusted other revenue.

Adjusted Noninterest Expense is a non-GAAP financial measure that adjusts GAAP noninterest expense for repositioning items. Management believes adjusted noninterest expense is a helpful financial metric because it enables the reader better understand the business’s expenses excluding nonrecurring items.

Estimated Retail Auto Originated Yield is a 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 annualized net charge-offs divided by average outstanding finance receivables and loans excluding loans measured at fair value and loans held-for-sale.

Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt.

Customer retention rate is the annualized 3-month rolling average of 1 minus the monthly attrition rate; excludes escheatment.

5

Repositioning is primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, and significant other one-time items. 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. Subsequent to December 1, 2021, the revenue and expense activity associated with Fair Square was included within the Corporate and Other segment.

Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income.

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 extended through December 31, 2021. Beginning on January 1, 2022, we are 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 beginning January 1, 2022, are phasing in the regulatory capital impacts of CECL based on this five-year transition period.

Reconciliation to GAAP

Adjusted Earnings per Share
Numerator ($ millions)		3Q 23			2Q 23			3Q 22
GAAP Net Income Attributable to Common Shareholders		$	269		$	301		$	272
Discontinued Operations, Net of Tax			—			—			1
Core OID			12			12			11
Repositioning and Other			30			—			20
Change in the Fair Value of Equity Securities			56			(25	)		62
Tax on: Core OID & Change in Fair Value of Equity Securities (21% tax rate)			(21	)		3			(20	)
Significant Discrete Tax Items			(94	)		—			—
Core Net Income Attributable to Common Shareholders	[a]	$	252		$	291		$	346
Denominator
Weighted-Average Common Shares Outstanding - (Diluted, thousands)	[b]		305,693			304,646			310,086
Adjusted EPS	[a] ÷ [b]	$	0.83		$	0.96		$	1.12
Core Return on Tangible Common Equity (ROTCE)
Numerator ($ millions)		3Q 23			2Q 23			3Q 22
GAAP Net Income Attributable to Common Shareholders		$	269		$	301		$	272
Discontinued Operations, Net of Tax			—			—			1
Core OID			12			12			11
Repositioning and Other			30			—			20
Change in Fair Value of Equity Securities			56			(25	)		62
Tax on: Core OID & Change in Fair Value of Equity Securities (21% tax rate)			(21	)		3			(20	)
Significant Discrete Tax Items			(94	)		—			—
Core Net Income Attributable to Common Shareholders	[a]	$	252		$	291		$	346
Denominator (Average, $ millions)
GAAP Shareholder’s Equity		$	13,179		$	13,455		$	13,209
Preferred Equity			(2,324	)		(2,324	)		(2,324	)
GAAP Common Shareholder’s Equity		$	10,855			11,131		$	10,885
Goodwill & Identifiable Intangibles, Net of Deferred Tax Liabilities (DTLs)			(883	)		(891	)		(915	)
Tangible Common Equity		$	9,972		$	10,240		$	9,970
Core OID Balance			(812	)		(824	)		(858	)
Net Deferred Tax Asset (DTA)			(1,310	)		(1,060	)		(1,068	)
Normalized Common Equity	[b]	$	7,850		$	8,357		$	8,044
Core Return on Tangible Common Equity	[a] ÷ [b]		12.9	%		13.9	%		17.2	%

6

Adjusted Tangible Book Value per Share
Numerator ($ millions)		3Q 23			2Q 23			3Q 22
GAAP Shareholder’s Equity		$	12,825		$	13,532		$	12,434
Preferred Equity			(2,324	)		(2,324	)		(2,324	)
GAAP Common Shareholder’s Equity		$	10,501		$	11,208		$	10,110
Goodwill and Identifiable Intangible Assets, Net of DTLs			(879	)		(887	)		(910	)
Tangible Common Equity			9,622			10,321			9,200
Tax-effected Core OID Balance (21% tax rate)			(636	)		(646	)		(673	)
Adjusted Tangible Book Value	[a]	$	8,986		$	9,675		$	8,527
Denominator
Issued Shares Outstanding (period-end, thousands)	[b]		301,630			301,619			300,335
Metric
GAAP Common Shareholder’s Equity per Share		$	34.81		$	37.16		$	33.66
Goodwill and Identifiable Intangible Assets, Net of DTLs per Share			(2.91	)		(2.94	)		(3.03	)
Tangible Common Equity per Share		$	31.90		$	34.22		$	30.63
Tax-effected Core OID Balance (21% tax rate) per Share			(2.11	)		(2.14	)		(2.24	)
Adjusted Tangible Book Value per Share	[a] ÷ [b]	$	29.79		$	32.08		$	28.39
Adjusted Efficiency Ratio
Numerator ($ millions)		3Q 23			2Q 23			3Q 22
GAAP Noninterest Expense		$	1,232		$	1,249		$	1,161
Insurance Expense			(338	)		(358	)		(290	)
Repositioning and Other			(30	)		—			(20	)
Adjusted Noninterest Expense for Adjusted Efficiency Ratio	[a]	$	864		$	891		$	851
Denominator ($ millions)
Total Net Revenue		$	1,968		$	2,079		$	2,016
Core OID			12			12			11
Insurance Revenue			(322	)		(366	)		(260	)
Adjusted Net Revenue for Adjusted Efficiency Ratio	[b]	$	1,658		$	1,725		$	1,767
Adjusted Efficiency Ratio	[a] ÷ [b]		52.1	%		51.7	%		48.2	%
Original Issue Discount Amortization Expense ($ millions)
		3Q 23			2Q 23			3Q 22
GAAP Original Issue Discount Amortization Expense		$	15		$	15		$	13
Other OID			(3	)		(3	)		(3	)
Core Original Issue Discount (Core OID) Amortization Expense		$	12		$	12		$	11
Outstanding Original Issue Discount Balance ($ millions)
		3Q 23			2Q 23			3Q 22
GAAP Outstanding Original Issue Discount Balance		$	(847)		$	(863	)	$	(888	)
Other Outstanding OID Balance			42			45			36
Core Outstanding Original Issue Discount Balance (Core OID Balance)		$	(806)		$	(818	)	$	(852	)

7

($ millions)
Net Financing Revenue (Excluding Core OID)		3Q 23			2Q 23			3Q 22
GAAP Net Financing Revenue	[w]	$	1,533		$	1,573		$	1,719
Core OID			12			12			11
Net Financing Revenue (Excluding Core OID)	[a]	$	1,545		$	1,585		$	1,730
Adjusted Other Revenue			3Q 23			2Q 23			3Q 22
GAAP Other Revenue	[x]	$	435		$	506		$	297
Change in Fair Value of Equity Securities			56			(25	)		62
Adjusted Other Revenue	[b]	$	491		$	481		$	359
Adjusted Total Net Revenue			3Q 23			2Q 23			3Q 22
Adjusted Total Net Revenue	[a]+[b]	$	2,036		$	2,066		$	2,089
Adjusted Provision for Credit Losses			3Q 23			2Q 23			3Q 22
GAAP Provision for Credit Losses	[y]	$	508		$	427		$	438
Adjusted Provision for Credit Losses	[c]	$	508		$	427		$	438
Adjusted NIE (Excluding Repositioning)			3Q 23			2Q 23			3Q 22
GAAP Noninterest Expense	[z]	$	1,232		$	1,249		$	1,161
Repositioning			(30	)		—			(20	)
Adjusted NIE (Excluding Repositioning)	[d]	$	1,202		$	1,249		$	1,141
Core Pre-Tax Income			3Q 23			2Q 23			3Q 22
Pre-Tax Income	[w]+[x]-[y]-[z]	$	228		$	403		$	417
Core Pre-Tax Income	[a]+[b]-[c]-[d]	$	326		$	390		$	510
Core Pre-Provision Net Revenue (Core PPNR)			3Q 23			2Q 23			3Q 22
Pre-Provision Net Revenue	[w]+[x]-[z]	$	736		$	830		$	855
Core Pre-Provision Net Revenue	[a]+[b]-[d]	$	834		$	817		$	948

Insurance Non-GAAP Walk to Core Pre-Tax Income

($ millions)				3Q 2023							3Q 2022
	GAAP			Change in the fair value of equity securities		Non-GAAP1		GAAP			Change in the fair value of equity securities		Non-GAAP1
Insurance
Premiums, Service Revenue Earned and Other	$	324		$	—	$	324	$	292		$	—	$	292
Losses and Loss Adjustment Expenses		107			—		107		70			—		70
Acquisition and Underwriting Expenses		231			—		231		220			—		220
Investment Income and Other		(2	)		46		44		(32	)		62		30
Pre-Tax Income from Continuing Operations	$	(16	)	$	46	$	30	$	(30	)	$	62	$	32

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 third quarter 2023 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 financial services company with the nation’s largest all-digital bank and an industry-leading auto financing business, driven by a mission to “Do It Right” and be a relentless ally for customers and communities. The company serves more than 11 million customers through a full range of online banking services (including deposits, mortgage, point-of-sale personal lending, and credit card products) and securities brokerage and investment advisory services. The company also includes a robust corporate finance business that offers capital for equity sponsors and middle-market companies, as well as auto financing and insurance offerings. For more information, please visit www.ally.com and follow @allyfinancial.

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

For further images and news on Ally, please visit http://media.ally.com.

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 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, 2022, 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:
Sean Leary	Peter Gilchrist
Ally Investor Relations	Ally Communications (Media)
704-444-4830	704-644-6299
sean.leary@ally.com	peter.gilchrist@ally.com

9

EX-99.2

3Q 2023 Preliminary Results Exhibit 99.2 Ally Financial Inc. 3Q 2023 Earnings Review October 18, 2023 Contact Ally Investor Relations at (866) 710-4623 or investor.relations@ally.com 1

3Q 2023 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-party data available at the 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 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, 2022, 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 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 defined by law. 2

3Q 2023 Preliminary Results GAAP and Core Results: Quarterly 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 ($ millions, except per share data) GAAP net income attributable to common shareholders (NIAC) $ 269 $ 301 $ 291 $ 251 $ 272 (1)(2) $ 252 $ 291 $ 250 $ 327 $ 346 Core net income attributable to common shareholders GAAP earnings per common share (EPS) (diluted, NIAC) $ 0.88 $ 0.99 $ 0.96 $ 0.83 $ 0.88 (1)(2) $ 0.83 $ 0.96 $ 0.82 $ 1.08 $ 1.12 Adjusted EPS Return on GAAP common shareholders' equity 9.9% 10.8% 10.8% 9.7% 10.0% (1)(2) Core ROTCE 12.9% 13.9% 12.5% 17.6% 17.2% GAAP common shareholders' equity per share $ 34.81 $ 3 7.16 $ 36.75 $ 3 5.20 $ 3 3.66 (1)(2) $ 2 9.79 $ 32.08 $ 31.59 $ 29.96 $ 28.39 Adjusted tangible book value per share (Adjusted TBVPS) Efficiency ratio 62.6% 60.1% 60.3% 57.5% 57.6% (1)(2) 52.1% 51.7% 55.8% 50.6% 48.2% Adjusted efficiency ratio GAAP total net revenue $ 1,968 $ 2 ,079 $ 2,100 $ 2,201 $ 2,016 (1)(2) $ 2,036 $ 2 ,066 $ 2,047 $ 2,163 $ 2,089 Adjusted total net revenue (1)(2) $ 736 $ 830 $ 834 $ 935 $ 855 Pre-provision net revenue (1)(2) Core pre-provision net revenue $ 834 $ 817 $ 781 $ 954 $ 948 Effective tax rate -29.8% 18.4% 17.5% 37.5% 28.1% (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: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre- provision net revenue (Core PPNR), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), Pre-provision net revenue (PPNR), and Tangible Common Equity. 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 document. (2) Non-GAAP financial measure – see pages 35 – 37 for definitions. 3

3Q 2023 Preliminary Results Leadership Update Strategically, Operationally and Culturally Transformed Rebranded to Ally from GMAC 2010 Look IPO and Exited TARP ($20B Repayment) 2014 L Externally Reached 1 Million Deposit Customers 2015 Execute Initiated Buybacks and Dividends 2016 E with Excellence Est. Employee Resource Groups (ERGs) 2017 $100 Billion of Total Deposits 2018 Act with A Professionalism 2019 Achieved Investment Grade Ratings 2020 Launched Ally Charitable Foundation Deliver D 2021 Results Eliminated Overdraft Fees Record Net Revenue and NIM 2022 Well Positioned to Drive Long Term Shareholder Value 11M Total Customers | 3M Depositors | $140B Retail Deposits (1) (1) (1) 22K Dealers | 13.5M+ Applications | $40B Consumer Originations (1) Full-year 2023 forecast figures. 4

3Q 2023 Preliminary Results 3Q 2023 Highlights $0.88 | $0.83 9.9% | 12.9% $2.0B | $2.0B 3.3% | 10.7% NIM Est. Retail GAAP Adj. Return on Core GAAP Adj. Total (2) (3) (1) (1) (1) (ex. OID) Originated Yield EPS EPS Common Equity ROTCE Net Revenue Net Revenue Notable Items • Proactive expense management driving $80M annual benefit through lower headcount ($30M restructuring cost | $0.08 EPS) • Valuation allowance release and state law change drove significant tax benefits within the quarter ($94M tax benefit | $0.31 EPS) • Both items are included in GAAP results, but excluded from adjusted metrics (Adjusted EPS and Core ROTCE) Operational Highlights • A record 3.7 million consumer auto applications driving $10.6 billion of origination volume Dealer • Originated yield of 10.7% with over 40% of volume originated within highest credit quality tier Financial • Annualized retail auto net charge-offs of 185bps, in-line with prior quarter guidance Services • Insurance earned premiums of $324 million; highest since 2009 • $153 billion of total deposits, up $7.1 billion YoY; 3.0 million customers Consumer & Commercial • 1.2 million active credit cardholders; integration and launch of OneAlly experience to be completed in 4Q ‘23 (4) Banking • Corporate finance floating rate HFI loans of $10.6 billion with ~100% in first lien position (1) Non-GAAP financial measure. See pages 35 – 37 for definitions. (2) Calculated using a Non-GAAP financial measure. See pages 35 – 37 for definitions. (3) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 38 for details. (4) Consumer and Commercial Banking activity is within ‘Corporate and Other’ and ‘Corporate Finance’ businesses. Note: Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies. Additionally, we offer securities-brokerage and investment advisory services through Ally Invest. 5

3Q 2023 Preliminary Results Managing a Dynamic Environment Positioned for long-term earnings expansion despite volatile market backdrop Net Interest Margin - Near-term compression from higher rates, in-line with expectations - Record auto application volume driving pricing power; ~95% retail auto pricing beta since tightening began - Well positioned for NIM expansion driven by strong asset yields after short-term rates stabilize Retail Auto Credit Performance - 3Q ‘23 NCOs at mid-point of guidance; on track for 1.8% for full-year 2023 - Projecting used value decline of 4% for the remainder of the year – closely monitoring UAW dynamics - Remaining nimble, and demonstrating prudent risk management and operational effectiveness Expense Discipline - Actions taken to reduce ongoing total expense growth, estimated to save $80 million annually (1) - Driving towards controllable expense growth of <1% in 2024 while continuing to invest for long-term - Estimating total noninterest expense growth including non-controllable items of 2% in 2024 Proposed Changes to Regulatory Framework - Proposed Basel III endgame impacts include gradual OCI phase-in and minimal RWA inflation - Proposed long-term debt rule would require incremental issuance at AFI - Actively engaged in coordinated industry response process (1) Defined as total operating expenses excluding FDIC fees and certain Insurance expenses (losses and commissions). 6

3Q 2023 Preliminary Results Differentiated Offerings & Strong Customer Engagement Proven scale and stability through cycles 3.0M $140B 92% 96% Retail Deposit Retail Deposit FDIC Insured Customer (1) Customers Balances Deposits Retention 14+ Years of Record YTD Growth ↑ 3 Percentage Industry Consecutive Growth (↑ 307k) Points YTD Leading Engaged customer base leveraging comprehensive product suite 2X 1M ~290k 1M+ Spend Deposit Multi-Product Deposit Customers Customers Balances Customers Deposit Customers with Using Smart Savings Tools, Deposit + Invest Customers 77% of Spend Customers an Ally Invest, Ally Home or Ally Invest, or vs. Deposit-only Customers with Liquid Savings Ally Credit Card relationship (218k customers) Direct Deposit (1) See page 38 for footnotes. 7

3Q 2023 Preliminary Results Funding and Liquidity High-quality deposit funding and strong liquidity position Total Available Liquidity Funding Composition ($ billions) Unsecured Debt Cash and Equivalents FHLB / Other FHLB Unused Pledged Borrowing Capacity FRB Discount Window Pledged Capacity Secured Debt Total Deposits Unencumbered Highly Liquid Securities (1) Loan to Deposit Ratio Available Liquidity vs. Uninsured Deposits 2.3x 2.7x 3.7x 4.0x 5.6x 99% 96% 95% 96% 98% Note: Excludes estimated incremental funding capacity if securities were pledged to Bank Term Funding Program at par (1) Total loans and leases. relative to market value (~$2.9B). 8

3Q 2023 Preliminary Results Impact of Newly Proposed Regulation Actively assessing proposed regulation and engaged in industry response • Category III and IV banks required to include AOCI impacts in regulatory capital Elimination of AOCI • Three-year phase-in period beginning in 3Q ’25 Opt-Out (1) • After-tax AOCI accretion of approximately $500M per year Expanded Risk- Based Approach • Additional RWA components scoped-in for Ally including Operational and Market risk (ERBA) and • ERBA would result in minimal RWA ↑ with offsetting items (↑ Ops risk, ↓ Retail exposures) Supplementary Leverage Ratio • SLR not expected to be binding (SLR) • Rule applies to insured depository institutions (IDI) and bank holding companies (BHC) • 6% of RWA expected to be binding constraint for both IDI (Ally Bank) and BHC (AFI) Long-Term Debt Requirements • IDI required to issue internal debt to the BHC • Eligible grandfathered debt estimated at $6.2B at AFI and zero at Ally Bank (1) Projected accretion of AOCI, net of hedge, based on 9/29/23 forward curve; assumes scheduled principal payments, contractual maturities, and projected prepayments using internal assumptions. 9 Basel III Endgame

3Q 2023 Preliminary Results Noninterest Expense Dynamics Reducing expense growth considering near-term revenue headwinds (1) • Targeting <1% growth in controllable noninterest expense in 2024 (2% total noninterest expense growth) – More than 80% of 2024 total growth driven by Insurance (more than offset in revenue) and non-discretionary FDIC fees – Other includes variable expense + key investments protecting the company (i.e., cyber) offset by headcount and efficiency actions • Specific actions taken to drive down expense growth going forward – Full impact of mid 2022 hiring freeze now reflected in run rate – Reduction in workforce estimated to save $80 million annually • Several factors driving expense growth in recent years expected to abate – Normalization of credit losses; normalization of weather losses; ramp up of technology and brand spend (2) Adjusted Noninterest Expense $5.0B $4.9B ↑ ~$200M Key Drivers into 2024 Normalization of $4.6B ↑ ~$50 million Consumer Credit ↑ ~$80M Full year impact of ↓ FDIC Fees & ↑ Insurance Losses All Other 2022 hiring freeze ↑ costs following Variable costs & Includes industry $80M annual historically low credit prioritized wide assessment ↓ and weather losses restructuring benefits increase investments Credit and weather largely normalized, not a material YoY expense driver Insurance expenses ↑ driven by continued portfolio growth Non-Discretionary Discretionary ↑ FDIC Fees 2022 2023 Forecast 2024 Forecast (1) Defined as total operating expenses excluding FDIC fees and certain Insurance expenses (losses and commissions) (2) Non-GAAP financial measure. See pages 35 – 37 for definitions. 10

3Q 2023 Preliminary Results 3Q 2023 Financial Results Increase / (Decrease) vs. 3Q 23 Consolidated Income Statement 2Q 23 3Q 22 2Q 23 3Q 22 ($ millions, except per share data) Net financing revenue $ 1,533 $ 1,573 $ 1,719 $ (40) $ (186) (1) 12 12 11 0 2 Core OID (1) 1,545 1,585 1,730 ( 40) (184) Net financing revenue (ex. Core OID) Other revenue 435 506 297 (71) 138 (2) 56 (25) 62 81 (6) Repositioning and change in fair value of equity securities (1) Adjusted other revenue 491 481 359 10 132 Provision for credit losses 508 427 438 81 70 Memo: Net charge-offs 456 399 276 57 180 Memo: Provision build / (release) 52 28 162 24 (110) Noninterest expense 1,232 1,249 1,161 (17) 71 (2) Restructuring Cost 30 - 20 30 10 Repositioning items (1) Adjusted noninterest expense 1,202 1,249 1,141 (47) 61 Pre-tax income $ 228 $ 403 $ 417 $ (175) $ (189) Income tax expense ( 68) 74 117 (142) (185) Net loss from discontinued operations - - (1) - 1 Net income $ 296 $ 329 $ 299 $ (33) $ (3) Preferred stock dividends 27 28 27 (1) - Net income attributable to common stockholders $ 269 $ 301 $ 272 $ (32) $ (3) GAAP EPS (diluted) $ 0 .88 $ 0.99 $ 0.88 $ (0.11) $ 0.00 (1) Core OID, net of tax 0.03 0 .03 0 .03 0 .00 0.00 (2) 0 .14 (0.06) 0.16 0.21 ( 0.01) Change in fair value of equity securities, net of tax (2) Repositioning, discontinued ops., and other, net of tax 0 .08 - 0 .05 0 .08 0 .02 Significant discrete tax items (0.31) - - ( 0.31) ( 0.31) (1) $ 0.83 $ 0.96 $ 1 .12 $ ( 0.13) $ ( 0.29) Adjusted EPS (1) Non-GAAP financial measure. See pages 35 – 37 for definitions. (2) Contains non-GAAP financial measures and other financial measures. See pages 35 – 38 for definitions. Note: Repositioning items represent restructuring costs in 3Q ‘23 and costs associated with termination of legacy qualified pension plan in 3Q ’22. 11

3Q 2023 Preliminary Results Balance Sheet and Net Interest Margin 3Q 23 2Q 23 3Q 22 Average Average Average Balance Balance Balance Yield Yield Yield ($ millions) Retail Auto Loans $ 85,131 8.90% $ 84,097 8.81% $ 82,362 7.29% Memo: Impact from hedges 0.74% 0.94% 0.25% Auto Leases (net of depreciation) 9,817 7.00% 10,110 7.60% 10,588 5.98% Commercial Auto 20,530 7.11% 19,709 6.94% 15,945 4.81% Corporate Finance 10,309 9.54% 10,240 9.15% 9,291 6.30% (1) 19,028 3.20% 19,325 3.22% 19,762 3.10% Mortgage (2) 2,201 9.94% 2,114 9.99% 1,672 11.04% Consumer Other - Ally Lending Consumer Other - Ally Credit Card 1,826 22.39% 1,701 21.88% 1,300 21.17% Cash and Cash Equivalents 8,308 4.73% 7,401 4.70% 3,627 1.73% (3) 30,769 3.53% 31,958 3.17% 34,578 2.55% Investment Securities & Other Earning Assets $ 187,920 7.14% $ 186,655 6.99% $ 179,125 5.59% (3) Total Loans and Leases 149,248 8.02% 147,717 7.93% 141,332 6.43% (4) $ 1 53,526 4.04% $ 152,382 3.74% $ 142,793 1.58% Deposits Unsecured Debt 10,778 6.40% 10,618 6.27% 9 ,189 5.90% Secured Debt 3,120 6.81% 2,879 5.61% 1 ,374 6.08% (5) 7,365 3.23% 7,592 3.00% 12,502 2.48% Other Borrowings Funding Sources $ 174,789 4.21% $ 173,471 3.89% $ 165,857 1.93% NIM (as reported) 3.24% 3.38% 3.81% (6) $ 812 6.02% $ 824 5.77% $ 858 4.91% Core OID (6) 3.26% 3.41% 3.83% NIM (ex. Core OID) (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) Unsecured lending from point-of-sale financing. (3) Includes Community Reinvestment Act and other held-for-sale (HFS) loans. (4) Includes retail, brokered, and other deposits (inclusive of sweep deposits, mortgage escrow and other deposits). (5) Includes FHLB borrowings and Repurchase Agreements. (6) Calculated using a Non-GAAP financial measure. See pages 35 – 37 for definitions. 12

3Q 2023 Preliminary Results Capital (1) • 3Q ‘23 CET1 ratio of 9.3% and TCE / TA ratio of 4.9% Capital Ratios and Risk-Weighted Assets ($ billions) • $3.7B of CET1 capital above FRB requirement of 7.0% Total Capital (Regulatory Minimum + SCB) Ratio Tier 1 Ratio – 9.0% internal operating target CET1 Ratio • Continue to prioritize capital optimization in dynamic Risk operating environment Weighted Assets – Modest RWA growth primarily in auto assets • Announced 4Q ’23 common dividend of $0.30 per share Note: For more details on the final rules 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 38. Common Dividend Per Share Common Shares Outstanding (# millions) (1) Contains a Non-GAAP financial measure. See pages 35 – 37 for definitions. Note: Repurchased common shares include shares withheld to cover income taxes owed by participants related to share-based incentive plans. 301,629,751 actual shares outstanding as of 9/30/23. 13

3Q 2023 Preliminary Results Asset Quality: Key Metrics Consolidated Net Charge-Offs (NCOs) Net Charge-Off Activity ($ millions) 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 Retail Auto $ 217 $ 347 $ 351 $ 277 $ 393 Annualized NCO Rate Commercial Auto - - - 4 - Mortgage Finance 1 - - - - Corporate Finance 31 - - 56 (3) NCOs ($M) Ally Lending 16 26 30 27 29 Ally Credit Card 13 19 29 36 39 (1) Corp/Other (2) (2) (1) (1) (2) Total $ 276 $ 390 $ 409 $ 399 $ 456 (1) Corp/Other includes legacy Mortgage HFI portfolio. Note: Ratios exclude loans measured at fair value and loans held-for-sale. See page 38 for definition. Retail Auto Net Charge-Offs (NCOs) Retail Auto Delinquencies 30+ DPD Delinquency Rate 60+ DPD Annualized Delinquency NCO Rate Rate 60+ Delinquent Contracts ($M) NCOs ($M) See page 38 for definition. Notes: [1] Includes accruing contracts only [2] Days Past Due (“DPD”). 14

3Q 2023 Preliminary Results Asset Quality: Coverage and Reserves Consolidated Coverage Retail Auto Coverage ($ billions) ($ billions) Reserve (%) Reserve (%) Reserve ($) Reserve ($) 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) Net Charge- ∆ In Portfolio All 3Q ’23 2Q ’23 1 2 3 off Activity Size Other Reserve Reserve ($456) 3Q ’23 NCOs $63 ($7) Loan Growth Includes macroeconomic $3,781 $3,837 $456 Replenished variables 15

3Q 2023 Preliminary Results Auto Finance: Agile Market Leader # # # # Leading 1 1 1 1 Prime Auto Bank Floorplan Bank Retail Auto Dealer Satisfaction Insurance Provider (1) (2) (3) (4) Lender Lender Loan Outstandings J.D. Power Award (F&I, P&C Products) Consumer Applications and Approval Rate Auto Balance Sheet Trends ($ billions; EoP, HFI only) Total Consumer Auto Lease Consumer Applications Retail Commercial Approval Rate Auto Consumer Originations Consumer Origination Mix ($ billions; % of $ originations) (% of $ originations) Retail Weighted Avg. FICO Lease New Growth Used Stellantis Nonprime % of GM Total Retail See page 39 for footnotes. 16

3Q 2023 Preliminary Results Auto Finance: Demonstrating Strength and Scale Simple message to dealers encouraging Ally consideration on all application volume Record application flow allows selective underwriting, and strong pricing and risk-adjusted returns Retail auto volume and credit tier mix Est. ~$40B consumer auto originations inc. lease Est. originated Est. FY RETAIL auto (1) yield origination volume and YTD credit-tier mix S-Tier Loss Profile Approval rate → Lower A-Tier B-Tier Higher C/D/E Tier (1) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 38 for details. (2) Estimated full-year retail auto origination volume and year-to-date credit tier mix 17

3Q 2023 Preliminary Results Retail Auto Portfolio Yield Migration Retail portfolio repricing remains a meaningful tailwind • Strong performance through current tightening cycle creates significant momentum – Auto beta of ~95%, deposit beta of ~70%; creates significant momentum over medium-term • Portfolio yield continues to increase as older vintages are replaced with higher yielding new originations – Portfolio repricing adds ~100 basis points to portfolio yield by YE 2025 assuming no change to originated yields • Remain confident in NIM expansion to >4% through natural balance sheet turnover (1) Retail Auto Portfolio Vintage Analysis 2021 and prior | 2022 | 2023 | 2024 | 2025 Portfolio Yield 9.0% 9.5% 10.0% FY Est. FY Est. FY Est. (2) (2) (2) Orig. Yield Orig. Yield Orig. Yield 10.7% 10.7% 10.7% Illustrative Illustrative 10.7% 10.7% 8.2% Illustrative 8.2% 10.7% 7% 8.2% 7% 7% (1) Estimated portfolio mix, portfolio yield and originated yield. (2) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 38 for details. Note: Portfolio yield includes hedge impacts (~50bps in 4Q ’23, declining to ~10bps in 4Q ’24 and n/m in 4Q ‘25) based on forward curve. 18

3Q 2023 Preliminary Results Retail Auto Credit Performance Performance in-line with expectations and on track for full-year NCOs of 1.8% • Retail auto NCO rate of 1.85% is at the mid-point of prior guide (1.8 – 1.9%) – Flow to loss rates remained stable year-to-date and favorable to pre-pandemic levels – Softness in used vehicle values in the early part of the quarter partially offset by strength in values in September • Continue to observe stability and moderation in the year-over-year pace of delinquencies – Pace of year-over-year 30-day delinquencies has moderated for three quarters in a row 2023 Retail Auto NCO Trajectory Year-over-Year Change in 30-Day Delinquency Rate Prior Guide 2.3% - 2.4% Notes: Includes accruing contracts only See page 38 for definitions. 19

3Q 2023 Preliminary Results Used Vehicle Value Outlook Used vehicle values forecasted to decline 4% in 4Q ‘23 (4% decline on a FY basis) • Maintain longer-term outlook for further decline in used vehicle values, but expecting support for values in 4Q ‘23 driven by UAW strike – Dealers built vehicle inventory in anticipation of potential strike – Strike supported auction prices in September; expect continued support as negotiations continue • Used values relatively flat on a year-to-date basis and down 4% in 3Q ‘23 – Current outlook implies 4% decline in values in 4Q ‘23, potential for outperformance if strike persists Ally Used Vehicle Value Index (AUVI) 3-year-old vehicles, adjusted for seasonality, mix, mileage, and MSRP inflation ↓4% YoY ↓ 4% QoQ Flat YTD Dec ‘21 Dec ‘22 Sept ‘23 Dec ‘23 20

3Q 2023 Preliminary Results Auto Finance Inc / (Dec) v. • Auto pre-tax income of $377 million Key Financials ($ millions) 3Q 23 2Q 23 3Q 22 Net financing revenue $ 1 ,360 $ 11 $ 57 – Pre-tax income down YoY, primarily driven by lower net loss performance in prior year period Total other revenue 79 ( 4) 5 Total net revenue 1,439 7 62 – Provision expense up QoQ driven by seasonal trends Provision for credit losses 444 113 116 (1) Noninterest expense 618 18 57 • Estimated retail originated yield of 10.68%, up 30bps Pre-tax income $ 377 $ (124) $ (111) QoQ Auto earning assets (EOP) $ 116,354 $ 967 $ 5,498 – Rise in originated yield QoQ while maintaining higher credit Key Statistics quality mix demonstrates pricing power in current market Remarketing gains ($ millions) $ 57 $ (12) $ 18 environment Average gain per vehicle $ 1 ,944 $ (391) $ 619 Off-lease vehicles terminated (# units) 29,484 (388) (78) – Increase in portfolio yield of 161bps YoY, will continue to Application volume (# thousands) 3,674 157 525 migrate towards originated yields over time Retail Auto Yield Trends Lease Portfolio Trends Estimated Originated Lessee & (2) Yield Dealer Buyout % Portfolio Yield Remarketing Gains ($ millions) Hedge Impact to Retail Auto Portfolio Yield Avg. Gain / Unit $1,944 0.25% 0.61% 0.82% 0.94% 0.74% $1,325 $1,476 $1,932 $2,335 (2) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 38 for details. See page 39 for footnotes. 21

3Q 2023 Preliminary Results Insurance Inc / (Dec) v. • Insurance pre-tax loss of $16 million and core pre-tax (1) Key Financials ($ millions) 3Q 23 2Q 23 3Q 22 income of $30 million Premiums, service revenue earned and other income $ 324 $ 12 $ 32 – $324 million of earned premiums, representing highest quarter VSC losses 39 1 4 since 2009 Weather losses 22 (29) 14 Other losses 46 1 19 – Insurance losses of $107 million, up $37 million YoY driven by higher weather losses, GAP losses, and portfolio growth Losses and loss adjustment expenses 107 (27) 37 (2) including higher insured inventory values Acquisition and underwriting expenses 231 7 11 Total underwriting income / (loss) (14) 32 (16) • Written premiums of $335 million, up 15% YoY Investment income and other ( 2) (56) 30 – Continued success in expanding all-in dealer value proposition Pre-tax loss $ (16) $ (24) $ 14 (3) by deepening relationships through comprehensive suite of Change in fair value of equity securities 46 70 (16) combined Ally offerings (1) Core pre-tax income $ 30 $ 46 $ (2) Total assets (EOP) $ 8,736 $ (154) $ 203 – P&C premiums increasing from growing inventory and other dealer products Key Statistics - Insurance Ratios 3Q 23 2Q 23 3Q 22 Loss ratio 33.0% 43.0% 23.9% – F&I growth driven by higher volume in Canada and other US Underwriting expense ratio 71.3% 71.5% 74.8% ancillary products Combined ratio 104.3% 114.5% 98.7% Insurance Written Premiums Insurance Losses ($ millions) ($ millions) P&C Premium Other Weather F&I Premium VSC (1) Non-GAAP financial measure. See pages 35 – 37 for definitions. Note: F&I: Finance and insurance products and other. P&C: Property and 22 For additional footnotes see page 39. casualty insurance products.

3Q 2023 Preliminary Results Ally Bank: Deposit and Customer Trends $ # 3M 58 140B 14+ 1 Largest All-Digital, Ally Bank Consecutive Quarters Retail Deposit Consecutive Years of (1) Direct U.S. Bank Deposit Customers of Customer Growth Balances Retail Deposit Growth Total Deposits: Retail & Brokered • Total deposits of $152.8 billion, up $7.1 billion YoY ($ billions; EoP) Avg. Retail – Retail deposits of $140.1 billion, up $6.2 billion YoY Portfolio and $1.1 billion QoQ Interest Rate • 3 million retail deposit customers, up 15% YoY Brokered / Other – 95 thousand net new customers in 3Q ‘23 – 72% of new customers from millennial or younger generations Retail – Industry leading 96% customer retention rate • Nearly 300 thousand multi-product bank customers, 30% annual growth rate since 2019 Note: Brokered / Other includes sweep deposits, mortgage escrow and other deposits. Ally Bank: Multi-product Relationship Customers Net New Retail Deposit Customers Deposit customers with an Ally Invest, Ally Home or Ally Credit Card relationship (in thousands) See page 39 or footnotes. Note: Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies. Additionally, we offer securities-brokerage and investment advisory services through Ally Invest. 23

3Q 2023 Preliminary Results Ally Bank: Leading, Growing, and Diversified Continued focus on deepening customer relationships Ally Invest (Brokerage & Wealth) • Leading, all-digital direct bank with complementary Net Customer Assets ($ in billions) | Acquired: 2Q’16 product suite % of New Accts from – 85% of new Ally Invest accounts from existing customers Existing Customers – 1.2 million active cardholders, up 53 thousand QoQ and $1.9 billion in outstanding balances – 473 thousand point of sale customers from nearly 3 thousand merchant locations primarily in high-quality home improvement and healthcare verticals • Prioritizing risk-adjusted returns over volume resulting in modest growth year-to-date in unsecured lending Ally Lending (Point of Sale) Ally Credit Card EoP Portfolio Balances ($ in billions) | 2.9k merchant relationships EoP Portfolio Balances ($ in billions) | 54% Customer CAGR since 2017 Acquired: 4Q’19 Acquired: 4Q’21 Note: Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies. Additionally, we offer securities-brokerage and investment advisory services through Ally Invest. 24

3Q 2023 Preliminary Results Corporate Finance IIn nc c // ( (D De ec c) ) v v.. • Corporate Finance pre-tax income of $84 million K Ke ey y Fi Fina nanc nciia alls s ( ($ $ m miilllliion ons s) ) 3 3Q Q 2 23 3 2 2Q Q 2 23 3 3 3Q Q 2 22 2 – Net financing revenue up YoY reflecting higher average asset N Ne ett ffiin na an nc ciin ng g r re ev ve en nu ue e $ $ 97 97 $ $ 5 5 $ $ 17 17 O Otth he er r r re ev ve en nu ue e 24 24 ( ( 4 4) ) ( (3 30 0) ) balances T To otta all n ne ett r re ev ve en nu ue e 121 121 1 1 ( (1 13 3) ) – Continued strength in Other revenue; $33 million investment gain in P Pr ro ov viis siio on n ffo or r c cr re ed diitt llo os ss se es s 5 5 (10 -) ( ( 8 8) ) (2 (2) ) prior year period that did not repeat N No on niin ntte er re es stt e ex xp pe en ns se e 32 32 ( ( 1 1) ) 2 2 P Pr re e- -tta ax x iin nc co om me e $ $ 84 84 $ $ 12 12 $ $ ( (7 7) ) • Held-for-investment loans of $10.6B, up 14% YoY (3 (3) ) C Ch ha an ng ge e iin n ffa aiir r v va allu ue e o off e eq qu uiitty y s se ec cu ur riittiie es s - - ( ( 1 1) ) - - (1 (1) ) C Co or re e p pr re e- -tta ax x iin nc co om me e $ $ 84 84 $ $ 13 13 $ $ ( (7 7) ) – High-quality, 100% floating-rate lending portfolio, comprised of 61% T To otta all a as ss se etts s ( (E EO OP P) ) $ $ 1 10 0,,7 74 49 9 $ $ 559 559 $ $ 909 909 asset-based loans, and ~100% in first lien position • Limited commercial real estate exposure of $1.4 billion, entirely within healthcare industry – Less than 1% of consolidated Ally total loans Diversified Loan Portfolio Held for Investment Loans (as of 9/30/23) ($ billions; EoP) All Other Services Manufacturing 2% (1) Non-GAAP financial measure. See pages 35 – 37 for definitions. 25 For additional footnotes see page 39.

3Q 2023 Preliminary Results Mortgage Finance Inc / (Dec) v. • Mortgage pre-tax income of $26 million Key Financials ($ millions) 3Q 23 2Q 23 3Q 22 Net financing revenue $ 53 $ - $ (4) – Noninterest expense down $10 million YoY, reflecting the benefit Total other revenue 4 (1) (3) of partnership DTC origination model Total net revenue $ 57 $ (1) $ (7) • Direct-to-Consumer (DTC) originations of $267 million, Provision for credit losses (2) ( 2) (4) (1) Noninterest expense down 49% YoY, reflective of current environment 33 (4) (10) Pre-tax income $ 26 $ 5 $ 7 Total assets (EOP) $ 18,745 $ (252) $ ( 1,117) • Over 50% of 3Q ’23 originations from existing depositors highlights the strong customer value proposition of Mortgage Finance HFI Portfolio 3Q 23 2Q 23 3Q 22 complementary product enhancing the OneAlly Net Carry Value ($ billions) $ 18.6 $ 18.9 $ 19.7 experience (2) 53.1% 54.5% 54.2% Wtd. Avg. LTV/CLTV Refreshed FICO 782 782 780 • Continued focus on customer digital experience and operational efficiency Held-for-Investment Assets Direct-to-Consumer Originations ($ billions) ($ billions) DTC Bulk Bulk $1.1 $0.02 $0.00 $0.01 $0.01 See page 39 for footnotes. 26

3Q 2023 Preliminary Results 2023 Financial Outlook Current Prior Outlook Outlook Net Interest Margin 3.4% >3.3% Other Revenue $1.9B $1.9B 9.0% 9.0% Retail Auto Portfolio Yield (4Q ‘23) 4.1% 4.1 - 4.2% Retail Deposit Portfolio Yield (4Q ‘23) Retail Auto NCOs 1.8% 1.8% (1) Adj. Noninterest Expense $4.9B $4.9B (2) Tax Rate 9% 18% ~18% in 4Q ‘23 (1) Non-GAAP Financial Measures. See pages 35 – 37 for definitions. (2) Assumes statutory U.S. Federal tax rate of 21% 27

3Q 2023 Preliminary Results Strategic Priorities Focused execution on driving long-term value for all stakeholders Ensure culture remains aligned with relentless focus on customers, communities, employees, and shareholders Differentiate as a financial ally for our consumer and commercial customers Continue to grow and diversify by scaling existing businesses Constant evolution to maintain leading digital experiences and brand Driving disciplined risk management and accretive capital deployment Delivering sustainable, enhanced results, and value for ALL stakeholders 28

3Q 2023 Preliminary Results Supplemental 29

3Q 2023 Preliminary Results Supplemental Results By Segment GAAP to Core pre-tax income Walk Inc / (Dec) v. ($ millions) Segment Detail 3Q 23 2Q 23 3Q 22 2Q 23 3Q 22 Automotive Finance $ 377 $ 501 $ 488 $ (124) $ (1 11) Insurance (1 6) 8 (30) (2 4) 14 Dealer Financial Services $ 361 $ 509 $ 458 $ (148) $ (97) Corporate Finance 84 72 91 12 (7 ) Mortgage Finance 26 21 19 5 7 Corporate and Other (243) (199) (151) (44) (92) $ (175) $ (189) Pre-tax income from continuing operations $ 228 $ 403 $ 417 (1) 12 12 11 0 2 Core OID (2) Change in fair value of equity securities 56 (25) 62 81 (6) (3) Repositioning and other 30 - 20 30 10 (1) $ (6 4) $ (184) $ 326 $ 390 $ 510 Core pre-tax income (1) Non-GAAP financial measure. See pages 35 – 37 for definitions. 30 For additional footnotes see page 40.

3Q 2023 Preliminary Results Supplemental Funding Profile Details Funding Mix Deposit Mix Unsecured Brokered / FHLB / Other Other Secured Retail CD Deposits MMA/OSA/ Spend Note: Totals may not foot due to rounding. Note: Other includes sweep deposits, mortgage escrow and other deposits. Totals may not foot due to rounding. (1) Unsecured Long-Term Debt Maturities Wholesale Funding Issuance ($ billions) ($ billions) Principal Amount Maturity Weighted Avg. (2) Outstanding Date Coupon 2023 1.45% $ 1.20 2024 4.48% $ 1.45 (3) 2025+ 6.25% $ 8.39 Term ABS Term Unsecured (1) Excludes retail notes and perpetual preferred equity; as of 09/30/2023. Note: Term ABS shown includes funding amounts (notes sold) at new issue and does not include private (2) Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs. offerings. Excludes $2.35 billion of preferred equity issued in 2021. Totals may not foot due to rounding. (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 respective year. 31

3Q 2023 Preliminary Results Supplemental Corporate and Other ($ millions) Inc / (Dec) v. • Pre-tax loss of $243 million and Core pre-tax loss of Key Financials 3Q 23 2Q 23 3Q 22 (1) $191 million Net financing revenue $ (6) $ (56) $ (261) Total other revenue 35 (18) 109 – Net financing revenue lower YoY driven by higher interest Total net revenue $ 29 $ (74) $ (152) Provision for credit losses 61 (20) (34) expense Noninterest expense 211 (10) (26) Pre-tax income / (loss) $ (243) $ (44) $ (92) – Provision expense higher YoY driven by growing asset (1) Core OID 12 0 2 (2) balances in unsecured lending and credit normalization Repositioning and other 30 30 10 (3) Change in fair value of equity securities 10 10 10 (1) Core pre-tax income / (loss) $ (191) $ (4) $ (71) • Total assets of $42.7 billion, up $1.4 billion YoY, primarily driven by higher cash balances and growth Cash & securities $ 31,955 $ ( 3,184) $ 774 (4) in unsecured lending balances Held for investment loans, net 3,701 217 974 (5) Intercompany loan (547) (37) (157) (5) Other 7,623 329 (150) Total assets $ 42,732 $ (2,675) $ 1,441 Ally Invest 3Q 23 2Q 23 3Q 22 Ally Financial Rating Details Net Funded Accounts (k) 524 521 521 Average Customer Trades Per Day (k) 24.9 26.2 29.1 LT Debt ST Debt Outlook Total Customer Cash Balances $ 1,363 $ 1 ,578 $ 1 ,917 Total Net Customer Assets $ 13,981 $ 14,945 $ 13,095 Fitch BBB- F3 Stable Moody's Baa3 P-3 Negative Ally Lending 3Q 23 2Q 23 3Q 22 S&P BBB- A-3 Stable Gross Originations $ 382 $ 436 $ 599 DBRS BBB R-2H Stable Held-for-investment Loans (EOP) $ 2 ,206 $ 2 ,170 $ 1 ,813 Portfolio yield 9.9% 10.0% 11.0% Note: Ratings as of 09/30/2023. Our borrowing costs & access to the capital markets could be negatively NCO % 5.3% 5.1% 3.9% impacted if our credit ratings are downgraded or otherwise fail to meet investor expectations or demands. Ally Credit Card 3Q 23 2Q 23 3Q 22 Gross Receivable Growth (EOP) $ 114 $ 117 $ 203 Outstanding Balance (EOP) $ 1,872 $ 1,757 $ 1,427 NCO % 8.4% 8.5% 4.0% Active Cardholders (k) 1,199.1 1,146.1 1,009.6 (1) Non-GAAP financial measure. See pages 35 – 37 for definitions. 32 For additional footnotes see page 40.

3Q 2023 Preliminary Results Supplemental Interest Rate Risk (1) Net Financing Revenue Sensitivity Analysis ($ millions) 3Q 23 2Q 23 (2) (2) Change in interest rates Gradual Instantaneous Gradual Instantaneous -100 bps $ (111) $ (100) $ ( 109) $ ( 117) +100 bps $ 97 $ 101 $ 96 $ 121 Stable rate environment n/m $ 41 n/m $ 36 (1) Net financing revenue impacts reflect a rolling 12-month view. See page 38 for additional details. (2) Gradual changes in interest rates are recognized over 12 months. Effective Hedge Notional (EoP) Fair Value Hedging on Fixed-Rate Consumer Auto Loans 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $16B Effective Hedge Notional Outstanding $13B $12B $12B $12B $11B $9B $5B $4B $2B 2.2% Average Pay-Fixed Rates 2.4% 3.0% 3.7% 3.9% 3.9% 3.9% 4.3% 4.2% 4.3% Fair Value Hedging on Fixed-Rate Investment Securities 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $12B Effective Hedge Notional Outstanding $12B $12B $12B $12B $12B $11B $10B $10B $9B 4.0% Average Pay-Fixed Rates 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 3.9% 4.0% *Receive float combination of SOFR/OIS 33

3Q 2023 Preliminary Results Supplemental Deferred Tax Asset (1) Deferred Tax Asset 3Q 23 2Q 23 ($ millions) Gross DTA Valuation Net DTA Net DTA Balance Allowance Balance Balance Net Operating Loss (Federal) $ 9 $ - $ 9 $ 7 Tax Credit Carryforwards 768 ( 526) 242 545 State/Local Tax Carryforwards 317 (128) 189 181 Other Deferred Tax Assets / (Liabilities) 1 ,066 - 1,066 338 Net Deferred Tax Asset $ 2,160 $ (654) $ 1,506 $ 1,071 (1) GAAP does not prescribe a method for calculating individual elements of deferred taxes for interim periods; therefore, these balances are estimates. Deferred Tax Asset / (Liability) Balances ($ millions) Net GAAP DTA Balance Disallowed DTA $1,506 $1,224 $1,071 $1,071 $1,009 $4 $4 $4 $5 $5 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 34

3Q 2023 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 Statements, but which are supplemental to and not a substitute for GAAP measures: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-provision net revenue (Core PPNR), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), Pre-provision net revenue (PPNR), and Tangible Common Equity. 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) Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt. 2) 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) change in fair value of equity securities, (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 that have been taken by the company to normalize its capital structure, as applicable for respective periods. See page 41 for calculation methodology and details. 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. See page 44 for calculation details. (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, restructuring 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 22 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance segment. 4) Adjusted noninterest expense is a non-GAAP financial measure that adjusts GAAP noninterest expense for repositioning items. Management believes adjusted noninterest expense is a helpful financial metric because it enables the reader better understand the business' expenses excluding nonrecurring items. See page 46 for calculation methodology and details. 5) Adjusted other revenue is a non-GAAP financial measure that adjusts GAAP other revenue for OID expenses, repositioning, and change in fair value of equity securities. Management believes adjusted other revenue is a helpful financial metric because it enables the reader to better understand the business' ability to generate other revenue. See page 46 for calculation methodology and details. 35

3Q 2023 Preliminary Results Supplemental Notes on Non-GAAP Financial Measures 6) 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. 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 page 42 for calculation methodology and details. 7) Adjusted total net revenue is a non-GAAP financial measure that management believes is helpful for readers to understand the ongoing ability of the company to generate revenue. For purposes of this calculation, GAAP net financing revenue is adjusted by excluding Core OID to calculate net financing revenue ex. core OID. GAAP other revenue is adjusted for OID expenses, repositioning, and change in fair value of equity securities to calculate adjusted other revenue. Adjusted total net revenue is calculated by adding net financing revenue ex. core OID to adjusted other revenue. See page 46 for calculation methodology and details. 8) 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 pages 41 and 43 for calculation methodology and details. 9) 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 46 for calculation methodology and details. 10) 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 46 for calculation methodology and details. 11) Core pre-provision net revenue (Core PPNR) is a non-GAAP financial measure calculated by adding GAAP net financing revenue and GAAP other revenue and subtracting GAAP noninterest expense then adding Core OID and repositioning expenses, excluding provision for credit losses. Management believes that Core PPNR is a helpful financial metric because it enables the reader to assess the core business' ability to generate earnings to cover credit losses. See page 46 for calculation methodology and details. 12) 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) change in fair value of equity securities (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 45 for calculation methodology and details. 36

3Q 2023 Preliminary Results Supplemental Notes on Non-GAAP Financial Measures 13) 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. See page 43 for calculation details. (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, change in fair value of equity securities, 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. 14) Investment income and other (adjusted) is a non-GAAP financial measure that adjusts GAAP investment income and other for repositioning, and the change in fair value of equity securities. Management believes investment income and other (adjusted) is a helpful financial metric because it enables the reader to better understand the business' ability to generate investment income. 15) Net financing revenue excluding core OID is calculated using a non-GAAP measure that adjusts net financing revenue by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net financing revenue ex. Core OID is a helpful financial metric because it enables the reader to better understand the business' ability to generate revenue. See page 46 for calculation methodology and details. 16) Net interest margin excluding core OID is calculated using a non-GAAP measure that adjusts net interest margin by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net interest margin ex. Core OID is a helpful financial metric because it enables the reader to better understand the business' profitability and margins. See page 12 for calculation methodology and details. 17) Pre-provision net revenue (PPNR) is a non-GAAP financial measure calculated by adding GAAP net financing revenue and GAAP other revenue then subtracting GAAP noninterest expense, excluding provision for credit losses. Management believes that PPNR is a helpful financial metric because it enables the reader to assess the business’ ability to generate earnings to cover credit losses and as it is utilized by Federal Reserve's approach to modeling within the Supervisory Stress Test Framework that generally follows U.S. generally accepted accounting principles (GAAP) and includes a calculation of PPNR as a component of projected pre-tax net income. See page 46 for calculation methodology and details. 18) 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 43 for calculation methodology and details. 37

3Q 2023 Preliminary Results Supplemental Notes on Other Financial Measures 1) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. 2) Customer retention rate is the annualized 3-month rolling average of 1 minus the monthly attrition rate; excludes escheatment. 3) 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 extended through December 31, 2021. Beginning on January 1, 2022, we are 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 beginning January 1, 2022 are phasing in the regulatory capital impacts of CECL based on this five-year transition period. 4) Estimated retail auto originated yield is a 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. 5) 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. 6) 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. 7) Repositioning is primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, and significant other one-time items. 8) 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 38

3Q 2023 Preliminary Results Supplemental Additional Notes Page – 16 | Auto Finance: Agile Market Leader (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. Ally management defines retail auto market segmentation (unit based) for consumer automotive loans primarily as those loans with a FICO® Score (or an equivalent score) at origination by the following: • Super-prime 720+, Prime 620 – 719, Nonprime less than 620 (2) ‘Bank Floorplan Lender’ - Source: Company filings, including WFC and HBAN. (3) ‘Retail Auto Loan Outstandings’ - Source: Big Wheels Auto Finance Data 2022. (4) ‘#1 Dealer Satisfaction among Non-Captive Lenders with Sub-Prime Credit’ - Source: J.D. Power. Page – 21 | Auto Finance (1) Noninterest expense includes corporate allocations of $288 million in 3Q 2023, $271 million in 2Q 2023, and $259 million in 3Q 2022. Page – 22 | Insurance (2) Acquisition and underwriting expenses includes corporate allocations of $26 million in 3Q 2023, $23 million in 2Q 2023, and $24 million in 3Q 2022. (3) Change in fair value of equity securities impacts the Insurance segment. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. Page – 23 | Ally Bank: Deposit and Customer Trends (1) Source: FDIC, FFIEC Call Reports and Company filings of branchless banks including Marcus, Discover, American Express, Synchrony. Page – 25 | Corporate Finance (2) Noninterest expense includes corporate allocations of $14 million in 3Q 2023, $13 million in 2Q 2023, and $11 million in 3Q 2022. (3) Change in fair value of equity securities impacts the Corporate Finance segment. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. Page – 26 | Mortgage Finance (1) Noninterest expense includes corporate allocations of $21 million in 3Q 2023, $24 million in 2Q 2023, and $27 million in 3Q 2022. (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. 39

3Q 2023 Preliminary Results Supplemental Additional Notes Page – 30 | Results by Segment (2) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. (3) Repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, and significant other one-time items, as applicable for respective periods or businesses. Page – 32 | Corporate and Other (2) Repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, and significant other one-time items, as applicable for respective periods or businesses. (3) Change in fair value of equity securities impacts the Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. (4) HFI legacy mortgage portfolio, HFI Ally Lending portfolio and HFI Ally Credit Card portfolio. (5) Intercompany loan related to activity between Insurance and Corporate for liquidity purposes from the wind down of the Demand Notes program. Includes loans held-for-sale. 40

3Q 2023 Preliminary Results Supplemental GAAP to Core Results: Adjusted EPS Adjusted Earnings per Share ( Adjusted EPS ) QUARTERLY TREND 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 Numerator ($ millions) GAAP net income attributable to common shareholders $ 269 $ 301 $ 291 $ 251 $ 272 $ 454 $ 627 $ 624 $ 683 $ 900 $ 796 $ 687 $ 476 Discontinued operations, net of tax - - 1 - 1 - - 6 - (1) - - - Core OID 12 12 11 11 11 10 10 9 9 9 10 9 9 Repositioning Items 30 - - 57 20 - - 107 52 70 - - - Change in fair value of equity securities 56 ( 25) ( 65) ( 49) 62 136 66 ( 21) 65 (19) ( 17) (111) ( 13) Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) ( 21) 3 11 (4) (20) (31) ( 16) (20) ( 26) (13) 1 21 1 Significant discrete tax items ( 94) - - 61 - - - - - ( 78) - - - Core net income attributable to common shareholders [a] $ 252 $ 291 $ 250 $ 327 $ 346 $ 570 $ 687 $ 705 $ 782 $ 868 $ 790 $ 606 $ 473 Denominator Weighted-average common shares outstanding - (Diluted, thousands) [b] 305,693 304,646 303,448 303,062 3 10,086 3 24,027 3 37,812 3 48,666 361,855 3 73,029 3 77,529 3 78,424 3 77,011 Metric GAAP EPS $ 0.88 $ 0.99 $ 0.96 $ 0.83 $ 0.88 $ 1.40 $ 1.86 $ 1.79 $ 1.89 $ 2.41 $ 2.11 $ 1.82 $ 1.26 Discontinued operations, net of tax - - 0.00 - 0.00 - - 0.02 - (0.00) - - - Core OID 0.04 0.04 0.04 0.04 0.03 0.03 0.03 0.03 0.03 0.02 0.03 0.02 0.02 Change in fair value of equity securities 0.18 (0.08) (0.21) (0.16) 0.20 0.42 0.19 (0.06) 0.18 (0.05) (0.04) (0.29) (0.04) Repositioning Items 0.10 - - 0.19 0.06 - - 0.31 0.14 0.19 - - - Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (0.07) 0.01 0.04 (0.01) (0.06) (0.09) (0.05) (0.06) (0.07) (0.03) 0.00 0.06 0.00 Significant discrete tax items (0.31) - - 0.20 - - - - - (0.21) - - - Adjusted EPS [a] / [b] $ 0.83 $ 0.96 $ 0.82 $ 1.08 $ 1.12 $ 1.76 $ 2.03 $ 2.02 $ 2.16 $ 2.33 $ 2.09 $ 1.60 $ 1.25 41

3Q 2023 Preliminary Results Supplemental GAAP to Core Results: Adjusted TBVPS Adjusted Tangible Book Value per Share ( Adjusted TBVPS ) QUARTERLY TREND 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 Numerator ($ billions) GAAP shareholder's equity $ 12.8 $ 13.5 $ 13.4 $ 12.9 $ 12.4 $ 14.0 $ 15.4 $ 17.1 $ 17.3 $ 17.5 $ 14.6 $ 14.7 $ 14.1 less: Preferred equity (2.3) ( 2.3) (2.3) ( 2.3) (2.3) (2.3) ( 2.3) (2.3) ( 2.3) (2.3) - - - GAAP common shareholder's equity $ 10.5 $ 11.2 $ 11.1 $ 10.5 $ 10.1 $ 11.7 $ 13.1 $ 14.7 $ 15.0 $ 15.2 $ 14.6 $ 14.7 $ 14.1 Goodwill and identifiable intangibles, net of DTLs (0.9) ( 0.9) ( 0.9) (0.9) (0.9) (0.9) (0.9) (0.9) (0.4) ( 0.4) (0.4) ( 0.4) (0.4) Tangible common equity 9 .6 10.3 10.2 9 .6 9.2 10.7 12.2 13.8 14.6 14.8 14.2 14.3 13.7 Tax-effected Core OID balance (assumes 21% tax rate) (0.6) ( 0.6) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) ( 0.8) ( 0.8) (0.8) ( 0.8) Adjusted tangible book value [a] $ 9.0 $ 9.7 $ 9.5 $ 9.0 $ 8.5 $ 10.1 $ 11.5 $ 13.1 $ 13.9 $ 14.1 $ 13.4 $ 13.5 $ 12.9 Denominator Issued shares outstanding (period-end, thousands) [b] 3 01,630 3 01,619 300,821 2 99,324 300,335 312,781 327,306 337,941 3 49,599 3 62,639 371,805 3 74,674 373,857 Metric GAAP shareholder's equity per share $ 42.5 $ 44.9 $ 44.5 $ 43.0 $ 41.4 $ 44.7 $ 47.1 $ 50.5 $ 49.5 $ 48.3 $ 39.3 $ 39.2 $ 37.8 less: Preferred equity per share 7.7 7.7 7 .7 7 .8 7.7 7 .4 7.1 6 .9 6 .6 6.4 - - - GAAP common shareholder's equity per share $ 34.8 $ 37.2 $ 36.7 $ 35.2 $ 33.7 $ 37.3 $ 40.0 $ 43.6 $ 42.8 $ 41.9 $ 39.3 $ 39.2 $ 37.8 Goodwill and identifiable intangibles, net of DTLs per share (2.9) (2.9) (3.0) (3.0) (3.0) (2.9) (2.8) (2.8) (1.1) (1.0) (1.0) ( 1.0) (1.0) Tangible common equity per share 31.9 34.2 33.8 32.2 30.6 34.3 37.1 40.8 41.8 40.9 38.3 38.2 36.7 Tax-effected Core OID balance (assumes 21% tax rate) per share ( 2.1) (2.1) ( 2.2) (2.2) (2.2) (2.2) (2.1) (2.1) ( 2.0) ( 2.1) (2.2) (2.2) (2.2) Adjusted tangible book value per share [a] / [b] $ 29.8 $ 32.1 $ 31.6 $ 30.0 $ 28.4 $ 32.2 $ 35.0 $ 38.7 $ 39.7 $ 38.8 $ 36.2 $ 36.1 $ 34.6 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. 42

3Q 2023 Preliminary Results Supplemental GAAP to Core Results: Core ROTCE Core Return on Tangible Common Equity ( Core ROTCE ) QUARTERLY TREND 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 Numerator ($ millions) GAAP net income attributable to common shareholders $ 269 $ 301 $ 291 $ 251 $ 272 $ 454 $ 627 $ 624 $ 683 $ 900 $ 796 $ 687 $ 476 Discontinued operations, net of tax - - 1 - 1 - - 6 - (1) - - - Core OID 12 12 11 11 11 10 10 9 9 9 10 9 9 Repositioning Items 30 - - 57 20 - - 107 52 70 - - - Change in fair value of equity securities 56 (25) (65) ( 49) 62 136 66 (21) 65 (19) (17) (111) (13) Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (21) 3 11 (4) (20) ( 31) ( 16) ( 20) ( 26) ( 13) 1 21 1 Significant discrete tax items & other (94) - - 61 - - - - - ( 78) - - - Core net income attributable to common shareholders [a] $ 252 $ 291 $ 250 $ 327 $ 346 $ 570 $ 687 $ 705 $ 782 $ 868 $ 790 $ 606 $ 473 Denominator (Average, $ billions) GAAP shareholder's equity $ 13.2 $ 13.5 $ 13.1 $ 12.6 $ 13.2 $ 14.7 $ 16.2 $ 17.2 $ 17.4 $ 16.1 $ 14.7 $ 14.4 $ 14.0 less: Preferred equity (2.3) ( 2.3) ( 2.3) ( 2.3) (2.3) ( 2.3) ( 2.3) ( 2.3) (2.3) (1.2) - - - GAAP common shareholder's equity $ 10.9 $ 11.1 $ 10.8 $ 10.3 $ 10.9 $ 12.4 $ 13.9 $ 14.8 $ 15.1 $ 14.9 $ 14.7 $ 14.4 $ 14.0 Goodwill & identifiable intangibles, net of deferred tax liabilities ( DTLs ) ( 0.9) ( 0.9) ( 0.9) ( 0.9) (0.9) ( 0.9) ( 0.9) ( 0.7) ( 0.4) (0.4) ( 0.4) (0.4) ( 0.4) Tangible common equity $ 10.0 $ 10.2 $ 9.9 $ 9.4 $ 10.0 $ 11.4 $ 13.0 $ 14.2 $ 14.7 $ 14.5 $ 14.3 $ 14.0 $ 13.6 Core OID balance ( 0.8) ( 0.8) ( 0.8) ( 0.8) (0.9) ( 0.9) ( 0.9) ( 0.9) (0.9) ( 1.0) (1.0) (1.0) ( 1.0) Net deferred tax asset ( DTA ) (1.3) (1.1) ( 1.1) (1.2) ( 1.1) ( 0.8) (0.4) ( 0.6) ( 0.9) (0.6) ( 0.1) ( 0.1) ( 0.1) Normalized common equity [b] $ 7.9 $ 8.4 $ 8.0 $ 7.4 $ 8.0 $ 9.8 $ 11.7 $ 12.7 $ 12.9 $ 13.0 $ 13.1 $ 12.9 $ 12.4 Core Return on Tangible Common Equity [a] / [b] 12.9% 13.9% 12.5% 17.6% 17.2% 23.2% 23.6% 22.1% 24.2% 26.7% 24.1% 18.7% 15.2% 43

3Q 2023 Preliminary Results Supplemental GAAP to Core Results: Adjusted Efficiency Ratio Adjusted Efficiency Ratio QUARTERLY TREND 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 Numerator ($ millions) GAAP noninterest expense $ 1,232 $ 1,249 $ 1,266 $ 1,266 $ 1,161 Rep and warrant expense - - - - - Insurance expense (338) (358) (315) (286) (290) Repositioning items ( 30) - - ( 57) ( 20) Adjusted noninterest expense for efficiency ratio [a] $ 864 $ 891 $ 951 $ 923 $ 851 Denominator ($ millions) Total net revenue $ 1,968 $ 2,079 $ 2,100 $ 2,201 $ 2,016 Core OID 12 12 11 11 11 Repositioning items - - - - - Insurance revenue (322) (366) (407) (387) (260) Adjusted net revenue for the efficiency ratio [b] $ 1,658 $ 1,725 $ 1,704 $ 1,825 $ 1,767 Adjusted Efficiency Ratio [a] / [b] 52.1% 51.7% 55.8% 50.6% 48.2% 44

3Q 2023 Preliminary Results Supplemental Non-GAAP Reconciliation: Core Income ($ millions) 3Q 23 2Q 23 3Q 22 Change in fair Change in fair Change in fair (1) (1) (1) GAAP Core OID value of equity Repositioning GAAP Core OID value of equity Repositioning GAAP Core OID value of equity Repositioning Non-GAAP Non-GAAP Non-GAAP securities securities securities Consolidated Ally Net financing revenue $ 1,533 $ 12 $ - $ - 1,545 $ 1,573 $ 12 $ - $ - 1 ,585 $ 1,719 $ 11 $ - $ - 1 ,730 Total other revenue 435 - 56 - 491 506 - (25) - 481 297 - 62 - 359 Provision for credit losses 508 - - - 508 427 - - - 427 438 - - - 438 Noninterest expense 1,232 - - (30) 1 ,202 1,249 - - - 1,249 1,161 - - (20) 1 ,141 Pre-tax income $ 228 $ 12 $ 56 $ 30 $ 326 $ 403 $ 12 $ (25) $ - $ 390 $ 417 $ 11 $ 62 $ 20 $ 510 Corporate / Other Net financing revenue $ (6) $ 12 $ - $ - $ 6 $ 50 $ 12 $ - $ - $ 62 $ 255 $ 11 $ - $ - $ 266 Total other revenue 35 - 10 - 45 53 - - - 53 (74) - (0) - (74) Provision for credit losses 61 - - - 61 81 - - - 81 95 - - - 95 Noninterest expense 211 - - (30) 181 221 - - - 221 237 - - (20) 217 Pre-tax income $ (243) $ 12 $ 10 $ 30 $ ( 191) $ ( 199) $ 12 $ - $ - $ (187) $ (151) $ 11 $ (0) $ 20 $ ( 120) Insurance Premiums, service revenue earned and other $ 324 $ - $ - $ - $ 324 $ 312 $ - $ - $ - $ 312 $ 292 $ - $ - $ - $ 292 Losses and loss adjustment expenses 107 - - - 107 134 - - - 134 70 - - - 70 Acquisition and underwriting expenses 231 - - - 231 224 - - - 224 220 - - - 220 Investment income and other (2) - 46 - 44 54 - (24) - 30 (32) - 62 - 30 Pre-tax income $ (16) $ - $ 46 $ - $ 30 $ 8 $ - $ (24) $ - $ (16) $ (30) $ - $ 62 $ - $ 32 Corporate Finance Net financing revenue $ 97 $ - $ - $ - $ 97 $ 92 $ - $ - $ - $ 92 $ 80 $ - $ - $ - $ 80 Total other revenue 24 - ( 0) - 24 28 - (1) - 27 54 - ( 0) - 54 Provision for credit losses 5 - - - 5 15 - - - 15 13 - - - 13 Noninterest expense 32 - - - 32 33 - - - 33 30 - - - 30 Pre-tax income $ 84 $ - $ (0) $ - $ 84 $ 72 $ - $ (1) $ - $ 71 $ 91 $ - $ (0) $ - $ 91 (1) Non-GAAP line items walk to Core pre-tax income, a Non-GAAP financial measure that adjusts pre-tax income. See pages 35 – 37 for definitions. Note: Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. 45

3Q 2023 Preliminary Results Supplemental Non-GAAP Reconciliations Net Financing Revenue (ex. Core OID) QUARTERLY TREND ($ millions) 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 GAAP Net Financing Revenue [x] $ 1,533 $ 1,573 $ 1,602 $ 1,674 $ 1,719 $ 1 ,764 $ 1,693 $ 1,654 $ 1,594 $ 1,547 $ 1 ,372 $ 1 ,303 $ 1,200 Core OID 12 12 11 11 11 10 10 9 9 9 10 9 9 Net Financing Revenue (ex. Core OID) [a] $ 1,545 $ 1,585 $ 1,613 $ 1,685 $ 1,730 $ 1 ,774 $ 1,703 $ 1 ,663 $ 1 ,603 $ 1,556 $ 1 ,382 $ 1 ,312 $ 1,209 Adjusted Other Revenue QUARTERLY TREND ($ millions) 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 GAAP Other Revenue [y] $ 435 $ 506 $ 498 $ 527 $ 297 $ 312 $ 442 $ 545 $ 391 $ 538 $ 565 $ 678 $ 484 Accelerated OID & repositioning items - - - - - - - 9 52 70 - - - Change in fair value of equity securities 56 (25) (65) (49) 62 136 66 (21) 65 (19) (17) (111) (13) Adjusted Other Revenue [b] $ 491 $ 481 $ 433 $ 478 $ 359 $ 448 $ 508 $ 533 $ 507 $ 588 $ 548 $ 567 $ 471 Adjusted NIE (ex. Repositioning) QUARTERLY TREND ($ millions) 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 GAAP Noninterest Expense [z] $ 1,232 $ 1,249 $ 1,266 $ 1,266 $ 1,161 $ 1,138 $ 1,122 $ 1 ,090 $ 1,002 $ 1 ,075 $ 943 $ 1,023 $ 905 Repositioning 30 - - 57 20 - - - - - - - - Adjusted NIE (ex. Repositioning) [c] $ 1,202 $ 1,249 $ 1,266 $ 1,209 $ 1,141 $ 1,138 $ 1,122 $ 1 ,090 $ 1,002 $ 1,075 $ 943 $ 1,023 $ 905 Core Pre-Provision Net Revenue QUARTERLY TREND ($ millions) 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 Pre-Provision Net Revenue [x]+[y]-[z] 736 830 834 935 855 938 1,013 1,109 983 1,010 994 958 779 Core Pre-Provision Net Revenue [a]+[b]-[c] $ 834 $ 817 $ 781 $ 954 $ 948 $ 1,084 $ 1 ,088 $ 1 ,107 $ 1 ,108 $ 1,070 $ 987 $ 856 $ 775 Adjusted Total Net Revenue ($ millions) Adjusted Total Net Revenue [a]+[b] $ 2,036 $ 2,066 $ 2,047 $ 2,163 $ 2,089 $ 2 ,222 $ 2 ,210 $ 2 ,197 $ 2 ,110 $ 2 ,145 $ 1 ,930 $ 1,879 $ 1,680 Original issue discount amortization expense QUARTERLY TREND ($ millions) 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 GAAP original issue discount amortization expense $ 15 $ 15 $ 15 $ 14 $ 13 $ 13 $ 13 $ 12 $ 12 $ 12 $ 12 $ 13 $ 12 Other OID 3 3 3 3 3 2 3 3 3 3 3 3 3 (1) Core original issue discount (Core OID) amortization expense $ 12 $ 12 $ 11 $ 11 $ 11 $ 10 $ 10 $ 9 $ 9 $ 9 $ 10 $ 9 $ 9 Outstanding original issue discount balance QUARTERLY TREND ($ millions) 3Q 23 2Q 23 1Q 23 4Q 22 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 GAAP outstanding original issue discount balance $ (847) $ ( 863) $ (878) $ (882) $ ( 888) $ (901) $ (911) $ ( 923) $ (929) $ ( 983) $ (1,052) $ (1,064) $ (1,084) Other outstanding OID balance (42) (45) (48) (40) (36) (39) (37) (40) (29) (32) (34) (37) (48) Core outstanding original issue discount balance (Core OID balance) $ ( 806) $ ( 818) $ (830) $ (841) $ (852) $ (863) $ ( 873) $ (883) $ (900) $ ( 952) $ (1,018) $ (1,027) $ (1,037) Note: Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. 46

EX-99.3

Exhibit 99.3

THIRD QUARTER 2023

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 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, 2022, 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. The term “partnerships” means business arrangements rather than partnerships as defined by law.

3Q 2023 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 and Deposits	18
Net Interest Margin	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

3Q 2023 Preliminary Results 3

ALLY FINANCIAL INC. CONSOLIDATED FINANCIAL HIGHLIGHTS    

($ in millions, shares in thousands)	QUARTERLY TRENDS															CHANGE VS.
Selected Income Statement Data	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Net financing revenue	$	1,533		$	1,573		$	1,602		$	1,674		$	1,719		$	(40	)	$	(186	)
Core OID		12			12			11			11			11			0			2
Net financing revenue (excluding Core OID) (1)		1,545			1,585			1,613			1,685			1,730			(40	)		(184	)
Other revenue		435			506			498			527			297			(71	)		138
Change in fair value of equity securities (2)		56			(25	)		(65	)		(49	)		62			81			(6	)
Adjusted other revenue (1)		491			481			433			478			359			10			132
Provision for loan losses		508			427			446			490			438			81			70
Total noninterest expense (3)		1,232			1,249			1,266			1,266			1,161			(17	)		71
Repositioning		30			—			—			57			20			30			10
Noninterest Expense (ex. Repositioning)		1,202			1,249			1,266			1,209			1,141			(47	)		61
Pre-tax income from continuing operations		228			403			388			445			417			(175	)		(189	)
Income tax (benefit) expense		(68	)		74			68			167			117			(142	)		(185	)
(Loss) from discontinued operations, net of tax		—			—			(1	)		—			(1	)		—			1
Net Income		296			329			319			278			299			(33	)		(3	)
Preferred Dividends		27			28			28			27			27			(1	)		—
Net income attributable to common shareholders	$	269		$	301		$	291		$	251		$	272		$	(32	)	$	(3	)
Core Pre-Provision Net Revenue (4)	$	834		$	817		$	781		$	954		$	948		$	17		$	(114	)
Selected Balance Sheet Data (Period-End)
Total assets	$	195,704		$	197,241		$	196,165		$	191,826		$	188,640			$ (1,537	)	$	7,064
Consumer loans		108,343			107,370			106,815			106,610			106,720			973			1,623
Commercial loans		31,917			31,079			29,489			29,138			25,736			838			6,181
Allowance for loan losses		(3,837	)		(3,781	)		(3,751	)		(3,711	)		(3,611	)		(56	)		(226	)
Deposits		152,835			154,310			154,013			152,297			145,751			(1,475	)		7,084
Total equity		12,825			13,532			13,378			12,859			12,434			(707	)		391
Common Share Count
Weighted average basic		304,134			303,684			302,657			301,279			308,220			450			(4,086	)
Weighted average diluted		305,693			304,646			303,448			303,062			310,086			1,048			(4,393	)
Issued shares outstanding (period-end)		301,630			301,619			300,821			299,324			300,335			11			1,295
Per Common Share Data
Earnings per share (basic)	$	0.88		$	0.99		$	0.96		$	0.83		$	0.88		$	(0.11	)	$	0.00
Earnings per share (diluted)		0.88			0.99			0.96			0.83			0.88			(0.11	)		0.00
Adjusted earnings per share (1)		0.83			0.96			0.82			1.08			1.12			(0.13	)		(0.29	)
Book value per share		34.81			37.16			36.75			35.20			33.66			(2.35	)		1.15
Tangible book value per share		31.90			34.22			33.77			32.18			30.63			(2.32	)		1.27
Adjusted tangible book value per share (5)		29.79			32.08			31.59			29.96			28.39			(2.29	)		1.40
Select Financial Ratios
Net interest margin		3.24	%		3.38	%		3.51	%		3.65	%		3.81	%
Net interest margin (ex. Core OID) (1)		3.26	%		3.41	%		3.54	%		3.68	%		3.83	%
Cost of funds		4.21	%		3.89	%		3.44	%		2.77	%		1.93	%
Cost of funds (ex. Core OID)		4.15	%		3.84	%		3.39	%		2.73	%		1.89	%
Efficiency Ratio		62.6	%		60.1	%		60.3	%		57.5	%		57.6	%
Adjusted efficiency ratio (6)		52.1	%		51.7	%		55.8	%		50.6	%		48.2	%
Return on average assets		0.5	%		0.6	%		0.6	%		0.5	%		0.6	%
Return on average total equity		8.2	%		8.9	%		8.9	%		7.9	%		8.2	%
Return on average tangible common equity		10.8	%		11.8	%		11.8	%		10.7	%		10.9	%
Core ROTCE (7)		12.9	%		13.9	%		12.5	%		17.6	%		17.2	%
Capital Ratios (8)
Common Equity Tier 1 (CET1) capital ratio		9.3	%		9.3	%		9.2	%		9.3	%		9.3	%
Tier 1 capital ratio		10.7	%		10.7	%		10.7	%		10.7	%		10.8	%
Total capital ratio		12.5	%		12.5	%		12.5	%		12.2	%		12.4	%
Tier 1 leverage ratio		8.6	%		8.6	%		8.5	%		8.6	%		8.8	%

(1) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(2) For more details refer to pages 25-27.

(3) 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.

(4) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

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

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

(7) Represents a non-GAAP financial measure. For more details refer to page 23.

(8) For more details on the final rules 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 26.

3Q 2023 Preliminary Results 4

ALLY FINANCIAL INC. CONSOLIDATED INCOME STATEMENT      

($ in millions)	QUARTERLY TRENDS															CHANGE VS.
	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	2,837		$	2,721		$	2,575		$	2,423		$	2,120		$	116		$	717
Interest on loans held-for-sale		7			7			15			13			10			—			(3	)
Total interest and dividends on investment securities		256			238			226			220			206			18			50
Interest-bearing cash		99			87			56			31			16			12			83
Other earning assets		11			9			12			12			12			2			(1	)
Operating leases		385			392			402			400			397			(7	)		(12	)
Total financing revenue and other interest income		3,595			3,454			3,286			3,099			2,761			141			834
Interest expense
Interest on deposits		1,563			1,418			1,217			946			567			145			996
Interest on short-term borrowings		13			11			12			40			43			2			(30	)
Interest on long-term debt		274			252			227			200			194			22			80
Interest on other		—			—			2			(1	)		—			—			—
Total interest expense		1,850			1,681			1,458			1,185			804			169			1,046
Depreciation expense on operating lease assets		212			200			226			240			238			12			(26	)
Net financing revenue	$	1,533		$	1,573		$	1,602		$	1,674		$	1,719		$	(40	)	$	(186	)
Other revenue
Insurance premiums and service revenue earned		320			310			306			302			289			10			31
Gain on mortgage and automotive loans, net		4			5			4			24			10			(1	)		(6	)
Loss on extinguishment of debt		—			0			(0	)		(0	)		(0	)		(0	)		0
Other gain / (loss) on investments, net		(41	)		26			74			53			(54	)		(67	)		13
Other income, net of losses		152			165			114			148			52			(13	)		100
Total other revenue		435			506			498			527			297			(71	)		138
Total net revenue		1,968			2,079			2,100			2,201			2,016			(111	)		(48	)
Provision for loan losses		508			427			446			490			438			81			70
Noninterest expense
Compensation and benefits expense		463			448			537			503			467			15			(4	)
Insurance losses and loss adjustment expenses		107			134			88			63			70			(27	)		37
Other operating expenses		662			667			641			700			624			(5	)		38
Total noninterest expense		1,232			1,249			1,266			1,266			1,161			(17	)		71
Pre-tax income from continuing operations	$	228		$	403		$	388		$	445		$	417		$	(175	)	$	(189	)
Income tax expense from continuing operations		(68	)		74			68			167			117			(142	)		(185	)
Net income from continuing operations		296			329			320			278			300			(33	)		(4	)
Loss from discontinued operations, net of tax		—			—			(1	)		—			(1	)		—			1
Net income		296			329			319			278			299			(33	)		(3	)
Preferred Dividends		27			28			28			27			27			(1	)		—
Net income available to common shareholders	$	269		$	301		$	291		$	251		$	272		$	(32	)	$	(3	)
Core pre-tax Income walk
Net financing revenue	$	1,533		$	1,573		$	1,602		$	1,674		$	1,719		$	(40	)	$	(186	)
Other revenue		435			506			498			527			297			(71	)		138
Provision for credit losses		508			427			446			490			438			81			70
Total noninterest expense		1,232			1,249			1,266			1,266			1,161			(17	)		71
Pre-tax income from continuing operations	$	228		$	403		$	388		$	445		$	417		$	(175	)	$	(189	)
Core OID (2)		12			12			11			11			11			0			2
Change in the fair value of equity securities (1)		56			(25	)		(65	)		(49	)		62			81			(6	)
Repositioning (1)		30			—			—			57			20			30			10
Core pre-tax income (2)	$	326		$	390		$	335		$	464		$	510		$	(64	)	$	(184	)

(1) For more details refer to pages 25-27.

(2) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

3Q 2023 Preliminary Results 5

ALLY FINANCIAL INC. CONSOLIDATED PERIOD-END BALANCE SHEET    

($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Assets	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Cash and cash equivalents
Noninterest-bearing	$	603		$	536		$	554		$	542		$	638		$	67		$	(35	)
Interest-bearing		7,912			9,436			9,226			5,029			4,366			(1,524	)		3,546
Total cash and cash equivalents		8,515			9,972			9,780			5,571			5,004			(1,457	)		3,511
Investment securities (1)		28,532			30,453			31,215			31,284			31,344			(1,921	)		(2,812	)
Loans held-for-sale, net		289			297			524			654			808			(8	)		(519	)
Finance receivables and loans, net		140,260			138,449			136,304			135,748			132,456			1,811			7,804
Allowance for loan losses		(3,837	)		(3,781	)		(3,751	)		(3,711	)		(3,611	)		(56	)		(226	)
Total finance receivables and loans, net		136,423			134,668			132,553			132,037			128,845			1,755			7,578
Investment in operating leases, net		9,569			9,930			10,236			10,444			10,577			(361	)		(1,008	)
Premiums receivables and other insurance assets		2,775			2,768			2,713			2,698			2,719			7			56
Other assets		9,601			9,153			9,144			9,138			9,343			448			258
Total assets	$	195,704		$	197,241		$	196,165		$	191,826		$	188,640		$	(1,537	)	$	7,064
Liabilities
Deposit liabilities
Noninterest-bearing	$	188		$	160		$	174		$	185		$	220		$	28		$	(32	)
Interest-bearing		152,647			154,150			153,839			152,112			145,531			(1,503	)		7,116
Total deposit liabilities		152,835			154,310			154,013			152,297			145,751			(1,475	)		7,084
Short-term borrowings		2,410			2,194			1,455			2,399			7,200			216			(4,790	)
Long-term debt		20,096			20,141			20,480			17,762			16,628			(45	)		3,468
Interest payable		1,437			955			759			408			484			482			953
Unearned insurance premiums and service revenue		3,494			3,478			3,455			3,453			3,468			16			26
Accrued expense and other liabilities		2,607			2,631			2,625			2,648			2,675			(24	)		(68	)
Total liabilities	$	182,879		$	183,709		$	182,787		$	178,967		$	176,206		$	(830	)	$	6,673
Equity
Common stock and paid-in capital (2)	$	15,069		$	15,048		$	15,015		$	14,978		$	14,994		$	21		$	75
Preferred stock		2,324			2,324			2,324			2,324			2,324			—			—
Retained earnings / accumulated deficit		197			23			(185	)		(384	)		(544	)		174			741
Accumulated other comprehensive income / (loss)		(4,765	)		(3,863	)		(3,776	)		(4,059	)		(4,340	)		(902	)		(425	)
Total equity		12,825			13,532			13,378			12,859			12,434			(707	)		391
Total liabilities and equity	$	195,704		$	197,241		$	196,165		$	191,826		$	188,640		$	(1,537	)	$	7,064

(1) Includes Held-to-maturity securities.

(2) Includes Treasury stock.

3Q 2023 Preliminary Results 6

ALLY FINANCIAL INC. CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾    

($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Assets	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Interest-bearing cash and cash equivalents	$	8,308		$	7,401		$	5,731		$	4,129		$	3,627		$	907		$	4,681
Investment securities and other earning assets		30,364			31,537			32,168			32,131			34,166			(1,173	)		(3,802	)
Loans held-for-sale, net		278			422			738			722			748			(144	)		(470	)
Total finance receivables and loans, net (2)		139,153			137,185			135,819			134,170			129,996			1,968			9,157
Investment in operating leases, net		9,817			10,110			10,435			10,546			10,588			(293	)		(771	)
Total interest earning assets		187,920			186,655			184,891			181,698			179,125			1,265			8,795
Noninterest-bearing cash and cash equivalents		335			362			333			395			503			(27	)		(168	)
Other assets		10,925			10,781			10,817			11,082			10,338			144			587
Allowance for loan losses		(3,820	)		(3,777	)		(3,729	)		(3,641	)		(3,494	)		(43	)		(326	)
Total assets	$	195,360		$	194,021		$	192,312		$	189,534		$	186,472		$	1,339		$	8,888
Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	139,372		$	138,285		$	138,071		$	135,340		$	131,868		$	1,087		$	7,504
Other interest-bearing deposit liabilities (3)		13,973			13,935			14,503			12,933			10,717			38			3,256
Total Interest-bearing deposit liabilities		153,345			152,220			152,573			148,273			142,586			1,125			10,759
Short-term borrowings		948			833			1,024			4,169			6,266			115			(5,318	)
Long-term debt (4)		20,315			20,256			18,389			17,282			16,798			59			3,517
Total interest-bearing liabilities (4)		174,608			173,309			171,986			169,724			165,650			1,299			8,958
Noninterest-bearing deposit liabilities		181			162			179			212			207			19			(26	)
Other liabilities		6,503			6,760			6,662			6,809			6,435			(257	)		68
Total liabilities	$	181,292		$	180,231		$	178,827		$	176,745		$	172,292		$	1,061		$	9,000
Equity
Total equity	$	14,068		$	13,790		$	13,485		$	12,789		$	14,180		$	278		$	(112	)
Total liabilities and equity	$	195,360		$	194,021		$	192,312		$	189,534		$	186,472		$	1,339		$	8,888

(1) Average balances are calculated using a combination of monthly and daily average methodologies.

(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.

(4) Includes average Core OID balance of $812 million in 3Q23, $824 million in 2Q23, $835 million in 1Q23, $847 million in 4Q22, and $858 million in 3Q22.

3Q 2023 Preliminary Results 7

ALLY FINANCIAL INC. SEGMENT HIGHLIGHTS       

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Pre-tax Income / (Loss)	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Automotive Finance	$	377		$	501		$	442		$	437		$	488		$	(124	)	$	(111	)
Insurance		(16	)		8			92			101			(30	)		(24	)		14
Dealer Financial Services		361			509			534			538			458			(148	)		(97	)
Corporate Finance		84			72			72			67			91			12			(7	)
Mortgage Finance		26			21			21			19			19			5			7
Corporate and Other (1)		(243	)		(199	)		(239	)		(179	)		(151	)		(44	)		(92	)
Pre-tax income from continuing operations	$	228		$	403		$	388		$	445		$	417		$	(175	)	$	(189	)
Core OID (2) (4)		12			12			11			11			11			0			2
Change in the fair value of equity securities (3)		56			(25	)		(65	)		(49	)		62			81			(6	)
Repositioning (4)		30			—			—			57			20			30			10
Core pre-tax income (4)	$	326		$	390		$	335		$	464		$	510		$	(64	)	$	(184	)

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

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

(3) For more details refer to pages 25-27.

(4) Represents a non-GAAP measure. For more details refer to pages 25-27.

3Q 2023 Preliminary Results 8

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS      

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Net financing revenue
Consumer	$	1,748		$	1,649		$	1,576		$	1,555		$	1,461		$	99		$	287
Commercial		364			335			299			252			189			29			175
Loans held-for-sale		2			1			3			2			—			1			2
Operating leases		385			392			402			400			397			(7	)		(12	)
Total financing revenue and other interest income		2,499			2,377			2,280			2,209			2,047			122			452
Interest expense		927			828			732			644			506			99			421
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		268			271			272			271			277			(2	)		(9	)
Remarketing gains		57			70			47			31			39			(12	)		18
Total depreciation expense on operating lease assets		212			200			226			240			238			12			(26	)
Net financing revenue		1,360			1,349			1,322			1,325			1,303			11			57
Other revenue
Total other revenue		79			83			77			92			74			(4	)		5
Total net revenue		1,439			1,432			1,399			1,417			1,377			7			62
Provision for credit losses		444			331			351			376			328			113			116
Noninterest expense
Compensation and benefits		164			160			181			154			155			4			9
Other operating expenses		454			440			425			450			406			14			48
Total noninterest expense		618			600			606			604			561			18			57
Pre-tax Income	$	377		$	501		$	442		$	437		$	488		$	(124	)	$	(111	)
Memo: Net lease revenue
Operating lease revenue	$	385		$	392		$	402		$	400		$	397		$	(7	)	$	(12	)
Depreciation expense on operating lease assets (ex. remarketing)		268			271			272			271			277			(2	)		(9	)
Remarketing gains, net of repo valuation		57			70			47			31			39			(12	)		18
Total depreciation expense on operating lease assets		212			200			226			240			238			12			(26	)
Net lease revenue	$	173		$	192		$	176		$	160		$	159		$	(19	)	$	14
Balance Sheet (Period-End)
Cash, trading and investment securities	$	—		$	—		$	—		$	—		$	—		$	—		$	—
Loans held-for-sale, net		21			10			19			6			6			11			15
Consumer loans		85,728			84,725			84,042			83,903			84,116			1,003			1,612
Commercial loans		21,057			20,732			19,266			18,784			16,163			325			4,894
Allowance for loan losses		(3,153	)		(3,103	)		(3,053	)		(3,053	)		(3,024	)		(50	)		(129	)
Total finance receivables and loans, net		103,632			102,354			100,255			99,634			97,255			1,278			6,377
Investment in operating leases, net		9,569			9,930			10,236			10,444			10,577			(361	)		(1,008	)
Other assets		1,520			1,463			1,450			1,379			1,276			57			244
Total assets	$	114,742		$	113,757		$	111,960		$	111,463		$	109,114		$	985		$	5,628

3Q 2023 Preliminary Results 9

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - KEY STATISTICS    

	QUARTERLY TRENDS										CHANGE VS.
U.S. Consumer Originations (1) ($ in billions)	3Q 23		2Q 23		1Q 23		4Q 22		3Q 22		2Q 23			3Q 22
Retail standard - new vehicle GM	$	1.1	$	1.1	$	1.0	$	1.2	$	1.2	$	0.0		$	(0.1	)
Retail standard - new vehicle Stellantis		0.7		0.8		0.7		0.7		0.9		(0.1	)		(0.2	)
Retail standard - new vehicle Growth		1.1		1.0		1.0		1.0		1.2		0.0			(0.1	)
Used vehicle		6.9		6.6		6.1		5.5		7.9		0.4			(0.9	)
Lease		0.7		0.8		0.8		0.7		1.1		(0.1	)		(0.4	)
Retail subvented		0.0		0.0		0.0		0.0		0.0		0.0			0.0
Total originations	$	10.6	$	10.4	$	9.5	$	9.2	$	12.3	$	0.2		$	(1.8	)
U.S. Consumer Originations - FICO Score
Super prime (760-999)	$	2.5	$	2.4	$	1.8	$	1.8	$	2.1	$	0.2		$	0.4
High prime (720-759)		1.5		1.4		1.2		1.3		1.6		0.1			(0.1	)
Prime (660-719)		3.1		3.1		2.8		2.8		4.0		—			(1.0	)
Prime/Near (620-659)		1.8		1.8		2.0		1.8		2.6		—			(0.8	)
Non-Prime (540-619)		0.7		0.7		0.8		0.6		0.9		—			(0.2	)
Sub-Prime (0-539)		0.2		0.2		0.1		0.1		0.2		0.0			0.0
No FICO (Primarily CSG)		0.8		0.8		0.8		0.9		0.9		0.0			(0.1	)
Total originations	$	10.6	$	10.4	$	9.5	$	9.2	$	12.3	$	0.2		$	(1.8	)
U.S. Consumer Retail Originations - Average FICO
New vehicle		712		709		700		707		699		3			14
Used vehicle		701		698		687		693		684		3			17
Total retail originations		704		701		691		697		688		3			16
U.S. Market
New light vehicle sales (SAAR - units in millions)		15.6		15.7		15.0		14.2		13.4		(0.1	)		2.3
New light vehicle sales (quarterly - units in millions)		4.0		4.1		3.5		3.5		3.4		(0.1	)		0.6
Dealer Engagement
Total Active DFS Dealers (2)		22,323		22,171		22,136		21,869		21,864		152			459
Total Application Volume (000s)		3,674		3,517		3,319		2,866		3,149		156			525
Ally U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings	$	14.9	$	14.6	$	13.3	$	13.0	$	10.8	$	0.3		$	4.1
Dealer loans and other		6.1		6.1		5.9		5.7		5.3		0.0			0.8
Total Commercial outstandings	$	21.1	$	20.7	$	19.3	$	18.8	$	16.2	$	0.3		$	4.9
U.S. Off-Lease Remarketing
Off-lease vehicles terminated - on-balance sheet (# in units)		29,484		29,872		24,163		20,919		29,562		(388	)		(78	)
Average gain per vehicle	$	1,944	$	2,335	$	1,932	$	1,476	$	1,325	$	(391	)	$	619
Total gain ($ in millions)	$	57	$	70	$	47	$	31	$	39	$	(12	)	$	18

(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) A dealer is considered to have an active relationship with us if we provided automotive financing, remarketing, or insurance services during the three months ended September 30, 2023.

3Q 2023 Preliminary Results 10

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

($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Income Statement (GAAP View)	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Net financing revenue
Total interest and fees on finance receivables and loans(1)	$	2		$	3		$	2		$	2		$	2		$	(1	)	$	—
Interest and dividends on investment securities		32			31			29			32			28			1			4
Interest bearing cash		3			2			3			1			1			1			2
Total financing revenue and other interest revenue		37			36			34			35			31			1			6
Interest expense		8			7			8			7			7			1			1
Net financing revenue		29			29			26			28			24			—			5
Other revenue
Insurance premiums and service revenue earned		320			310			306			302			289			10			31
Other gain / (loss) on investments, net		(31	)		25			72			54			(56	)		(56	)		25
Other income, net of losses		4			2			3			3			3			2			1
Total other revenue		293			337			381			359			236			(44	)		57
Total net revenue		322			366			407			387			260			(44	)		62
Noninterest expense
Compensation and benefits expense		26			27			28			23			26			(1	)		—
Insurance losses and loss adjustment expenses		107			134			88			63			70			(27	)		37
Other operating expenses		205			197			199			200			194			8			11
Total noninterest expense		338			358			315			286			290			(20	)		48
Pre-tax (loss)	$	(16	)	$	8		$	92		$	101		$	(30	)	$	(24	)	$	14
Memo: Income Statement (Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	320		$	310		$	306		$	302		$	289		$	10		$	31
Investment income and other (adjusted) (2)		44			30			33			33			30			14			14
Other income		4			2			3			3			3			2			1
Total insurance premiums and other income		368			342			342			338			322			26			46
Expense
Insurance losses and loss adjustment expenses		107			134			88			63			70			(27	)		37
Acquisition and underwriting expenses
Compensation and benefit expense		26			27			28			23			26			(1	)		—
Insurance commission expense		160			158			157			158			152			2			8
Other expense		45			39			42			42			42			6			3
Total acquistion and underwriting expense		231			224			227			223			220			7			11
Total expense		338			358			315			286			290			(20	)		48
Core pre-tax (loss) / income (2)		30			(16	)		27			52			32			46			(2	)
Change in the fair value of equity securities (3)		(46	)		24			65			49			(62	)		(70	)		16
Income (loss) before income tax expense	$	(16	)	$	8		$	92		$	101		$	(30	)	$	(24	)	$	14
Balance Sheet (Period-End)
Cash and investment securities	$	5,086		$	5,280		$	5,331		$	5,252		$	5,161		$	(194	)	$	(75	)
Intercompany loans(1)		547			510			523			417			390			37			157
Premiums receivable and other insurance assets		2,791			2,783			2,728			2,712			2,731			8			60
Other assets		312			317			285			278			251			(5	)		61
Total assets	$	8,736		$	8,890		$	8,867		$	8,659		$	8,533		$	(154	)	$	203
Key Statistics
Total written premiums and revenue (4)	$	335		$	299		$	307		$	285		$	291		$	36		$	44
Loss ratio (5)		33.0	%		43.0	%		28.3	%		20.6	%		23.9	%
Underwriting expense ratio (6)		71.3	%		71.5	%		73.7	%		73.0	%		74.8	%
Combined ratio		104.3	%		114.6	%		102.0	%		93.6	%		98.7	%

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

(2) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(3) For more details refer to pages 25-27.

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

(5) 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.

(6) 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.

3Q 2023 Preliminary Results 11

ALLY FINANCIAL INC. MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS    

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Net financing revenue
Total financing revenue and other interest income	$	149		$	151		$	153		$	155		$	151		$	(2	)	$	(2	)
Interest expense		96			98			99			100			94			(2	)		2
Net financing revenue		53			53			54			55			57			—			(4	)
Gain on mortgage loans, net		4			5			4			1			7			(1	)		(3	)
Other income, net of losses		—			—			—			1			—			—			—
Total other revenue		4			5			4			2			7			(1	)		(3	)
Total net revenue		57			58			58			57			64			(1	)		(7	)
Provision for loan losses		(2	)		—			(1	)		1			2			(2	)		(4	)
Noninterest expense
Compensation and benefits expense		5			5			6			6			5			—			—
Other operating expense		28			32			32			31			38			(4	)		(10	)
Total noninterest expense		33			37			38			37			43			(4	)		(10	)
Pre-tax Income	$	26		$	21		$	21		$	19		$	19		$	5		$	7
Balance Sheet (Period-End)
Finance receivables and loans, net:
Consumer loans	$	18,657		$	18,894		$	19,189		$	19,445		$	19,715		$	(237	)	$	(1,058	)
Allowance for loan losses		(19	)		(20	)		(20	)		(22	)		(21	)		1			2
Total finance receivables and loans, net		18,638			18,874			19,169			19,423			19,694			(236	)		(1,056	)
Loans held for sale, net		29			36			24			13			44			(7	)		(15	)
Other assets		78			87			97			93			124			(9	)		(46	)
Total assets	$	18,745		$	18,997		$	19,290		$	19,529		$	19,862		$	(252	)	$	(1,117	)

3Q 2023 Preliminary Results 12

ALLY FINANCIAL INC. CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS    

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Net financing revenue
Total financing revenue and other interest income	$	248		$	234		$	234		$	199		$	148		$	14		$	100
Interest expense		151			142			131			105			68			9			83
Net financing revenue		97			92			103			94			80			5			17
Total other revenue		24			28			29			25			54			(4	)		(30	)
Total net revenue		121			120			132			119			134			1			(13	)
Provision for loan losses		5			15			15			16			13			(10	)		(8	)
Noninterest expense
Compensation and benefits expense		16			17			28			20			17			(1	)		(1	)
Other operating expense		16			16			17			16			13			—			3
Total noninterest expense		32			33			45			36			30			(1	)		2
Pre-tax income	$	84		$	72		$	72		$	67		$	91		$	12		$	(7	)
Change in the fair value of equity securities (1)		(0	)		(1	)		0			0			(0	)		1			0
Core pre-tax income (2)	$	84		$	71		$	72		$	67		$	91		$	13		$	(7	)
Balance Sheet (Period-End)
Equity securities	$	6		$	6		$	5		$	6		$	6		$	—		$	—
Loans held for sale, net		81			48			266			445			544			33			(463	)
Commercial loans		10,637			10,132			10,003			10,147			9,355			505			1,282
Allowance for loan losses		(185	)		(176	)		(217	)		(202	)		(186	)		(9	)		1
Total finance receivables and loans, net		10,452			9,956			9,786			9,945			9,169			496			1,283
Other assets		210			180			169			148			121			30			89
Total assets	$	10,749		$	10,190		$	10,226		$	10,544		$	9,840		$	559		$	909

(1)  For more details refer to pages 25-27.

(2)  Represents a non-GAAP financial measure. For more details refer to pages 25-27.

3Q 2023 Preliminary Results 13

ALLY FINANCIAL INC. CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS    

($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Net financing revenue
Total financing revenue and other interest income		662			656			585			501			384			6			278
Interest expense		668			606			488			329			129			62			539
Net financing revenue		(6	)		50			97			172			255			(56	)		(261	)
Other revenue
Other gain on investments, net		(11	)		—			3			—			2			(11	)		(13	)
Other income, net of losses (1)		46			53			4			49			(76	)		(7	)		122
Total other revenue		35			53			7			49			(74	)		(18	)		109
Total net revenue		29			103			104			221			181			(74	)		(152	)
Provision for loan losses		61			81			81			97			95			(20	)		(34	)
Noninterest expense
Compensation and benefits expense		252			239			294			300			264			13			(12	)
Other operating expense (2)		(41	)		(18	)		(32	)		3			(27	)		(23	)		(14	)
Total noninterest expense		211			221			262			303			237			(10	)		(26	)
Pre-tax (loss) income	$	(243	)	$	(199	)	$	(239	)	$	(179	)	$	(151	)	$	(44	)	$	(92	)
Change in the fair value of equity securities (3)		10			—			—			(0	)		(0	)		10			10
Core OID (4)		12			12			11			11			11			0			2
Repositioning (3)		30			—			—			57			20			30			10
Core pre-tax (loss) income (4)	$	(191	)	$	(187	)	$	(228	)	$	(111	)	$	(120	)	$	(4	)	$	(71	)
Balance Sheet (Period-End)
Cash, trading and investment securities	$	31,955		$	35,139		$	35,659		$	31,597		$	31,181		$	(3,184	)	$	774
Loans held-for-sale, net		158			203			215			190			214			(45	)		(56	)
Consumer loans		3,958			3,751			3,584			3,262			2,889			207			1,069
Commercial loans		223			215			220			207			218			8			5
Intercompany loans (5)		(547	)		(510	)		(523	)		(417	)		(390	)		(37	)		(157	)
Allowance for loan losses		(480	)		(482	)		(461	)		(434	)		(380	)		2			(100	)
Total finance receivables and loans, net		3,154			2,974			2,820			2,618			2,337			180			817
Other assets		7,465			7,091			7,128			7,226			7,559			374			(94	)
Total assets	$	42,732		$	45,407		$	45,822		$	41,631		$	41,291		$	(2,675	)	$	1,441
Core OID Amortization Schedule (4)		2023			2024			2025			2026			2027 & After
Remaining Core OID amortization expense	$	13		$	56		$	66		$	77			Avg = $119/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 $348 million for 3Q23, $331 million for 2Q23, $334 million for 1Q23, $350 million for 4Q22, and $321 million for 3Q22. The receiving business segment records the allocation of corporate overhead expense within other operating expenses.

(3) For more details refer to pages 25-27.

(4) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(5) Intercompany loans related to activity between Insurance and Corporate and Other for liquidity purposes.

3Q 2023 Preliminary Results 14

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION    

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Asset Quality - Consolidated (1)	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Ending loan balance	$	140,260		$	138,449		$	136,302		$	135,745		$	132,450		$	1,811		$	7,810
30+ Accruing DPD	$	3,459		$	3,169		$	2,834		$	3,128		$	2,608		$	290		$	851
30+ Accruing DPD %		2.47	%		2.29	%		2.08	%		2.30	%		1.97	%
60+ Accruing DPD	$	934		$	841		$	707		$	779		$	609		$	93		$	325
60+ Accruing DPD %		0.67	%		0.61	%		0.52	%		0.57	%		0.46	%
Non-performing loans (NPLs)	$	1,500		$	1,404		$	1,384		$	1,454		$	1,383		$	96		$	117
Net charge-offs (NCOs)	$	456		$	399		$	409		$	390		$	276		$	57		$	180
Net charge-off rate (2)		1.31	%		1.16	%		1.20	%		1.16	%		0.85	%
Provision for loan losses	$	508		$	427		$	446		$	490		$	438		$	81		$	70
Allowance for loan losses (ALLL)	$	3,837		$	3,781		$	3,751		$	3,711		$	3,611		$	56		$	226
ALLL as % of Loans (3) (4)		2.73	%		2.72	%		2.74	%		2.72	%		2.71	%
ALLL as % of NPLs (3)		256	%		269	%		271	%		255	%		261	%
ALLL as % of NCOs (3)		211	%		237	%		230	%		n/m			n/m
US Auto Delinquencies - HFI Retail Contract $‘s
30+ Delinquent contract $	$	3,290		$	3,032		$	2,714		$	2,962		$	2,442		$	258		$	848
% of retail contract $ outstanding		3.85	%		3.60	%		3.24	%		3.56	%		2.93	%
60+ Delinquent contract $	$	878		$	796		$	666		$	738		$	577
% of retail contract $ outstanding		1.03	%		0.94	%		0.80	%		0.89	%		0.69	%
U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract $‘s
Net charge-offs	$	393		$	277		$	351		$	347		$	217		$	116		$	176
% of avg. HFI assets (2)		1.85	%		1.32	%		1.68	%		1.66	%		1.05	%
U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract $‘s
Net charge-offs	$	0		$	4		$	0		$	0		$	0		$	(4	)	$	0
% of avg. HFI assets (2)		—	%		0.09	%		—	%		—	%		—	%

(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) Excludes provision for credit losses related to our reserve for unfunded commitments.

(4) 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.

3Q 2023 Preliminary Results 15

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION, CONTINUED    

($ in millions)
Automotive Finance (1)	QUARTERLY TRENDS										CHANGE VS.
Consumer	3Q 23		2Q 23		1Q 23		4Q 22		3Q 22		2Q 23		3Q 22
Allowance for loan losses	$	3,104	$	3,064	$	3,022	$	3,020	$	2,993	$	40	$	111
Total consumer loans (2)	$	85,370	$	84,294	$	83,640	$	83,286	$	83,459	$	1,076	$	1,911
Coverage ratio (3)		3.62%		3.62%		3.60%		3.60%		3.56%
Commercial
Allowance for loan losses	$	49	$	39	$	31	$	33	$	30	$	10	$	19
Total commercial loans	$	21,057	$	20,732	$	19,266	$	18,784	$	16,163	$	325	$	4,894
Coverage ratio		0.23%		0.19%		0.16%		0.18%		0.19%
Mortgage (1)
Consumer
Mortgage Finance
Allowance for loan losses	$	19	$	20	$	20	$	22	$	21	$	(1)	$	(2)
Total consumer loans	$	18,657	$	18,894	$	19,189	$	19,445	$	19,715	$	(237)	$	(1,058)
Coverage ratio		0.10%		0.10%		0.11%		0.11%		0.11%
Mortgage - Legacy
Allowance for loan losses	$	3	$	3	$	3	$	5	$	6	$	—	$	(3)
Total consumer loans	$	238	$	255	$	272	$	290	$	306	$	(17)	$	(68)
Coverage ratio		1.29%		1.28%		1.11%		1.78%		1.86%
Total Mortgage
Allowance for loan losses	$	22	$	23	$	23	$	27	$	27	$	(1)	$	(5)
Total consumer loans	$	18,895	$	19,149	$	19,461	$	19,735	$	20,021	$	(255)	$	(1,126)
Coverage ratio		0.11%		0.12%		0.12%		0.14%		0.13%
Consumer Other - Ally Lending (1) (4)
Allowance for loan losses	$	202	$	210	$	213	$	194	$	167	$	(8)	$	35
Total consumer loans	$	2,206	$	2,170	$	2,072	$	1,987	$	1,807	$	36	$	399
Coverage ratio		9.16%		9.68%		10.29%		9.77%		9.22%
Consumer Other - Ally Credit Card (1)
Allowance for loan losses	$	272	$	266	$	242	$	232		205	$	6	$	67
Total consumer loans	$	1,872	$	1,757	$	1,640	$	1,599		1,427	$	115	$	445
Coverage ratio		14.55%		15.14%		14.74%		14.51%		14.40%
Corporate Finance (1)
Allowance for loan losses	$	185	$	176	$	217	$	202	$	186	$	9	$	(1)
Total commercial loans	$	10,636	$	10,132	$	10,003	$	10,147	$	9,354	$	504	$	1,282
Coverage ratio		1.74%		1.74%		2.17%		1.99%		1.99%
Corporate and Other (1)
Allowance for loan losses	$	3	$	3	$	3	$	3	$	3	$	—	$	—
Total commercial loans	$	224	$	215	$	220	$	207	$	219	$	9	$	5
Coverage ratio		1.36%		1.36%		1.36%		1.36%		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 ($358M) of fair value adjustment for loans in hedge accounting relationships in 3Q23, ($432M) in 2Q23, ($402M) in 1Q23, ($617M) in 4Q22 and ($658M) in 3Q22.

(3) Excludes ($358M) of fair value adjustment for loans in hedge accounting relationships in 3Q23, ($432M) in 2Q23, ($402M) in 1Q23, ($617M) in 4Q22 and ($658M) in 3Q22.

(4) Unsecured consumer lending from point-of-sale financing.

3Q 2023 Preliminary Results 16

ALLY FINANCIAL INC. CAPITAL    

($ in billions)	QUARTERLY TRENDS										CHANGE VS.
Capital	3Q 23		2Q 23		1Q 23		4Q 22		3Q 22		2Q 23		3Q 22
Risk-weighted assets	$	161.1	$	159.2	$	157.6	$	157.3	$	155.2	$	1.9	$	5.9
Common Equity Tier 1 (CET1) capital ratio		9.3%		9.3%		9.2%		9.3%		9.3%
Tier 1 capital ratio		10.7%		10.7%		10.7%		10.7%		10.8%
Total capital ratio		12.5%		12.5%		12.5%		12.2%		12.4%
Tangible common equity / Tangible assets (1)(2)		4.9%		5.3%		5.2%		5.0%		4.9%
Tangible common equity / Risk-weighted assets (1)		6.0%		6.5%		6.4%		6.1%		5.9%
Shareholders’ equity	$	12.8	$	13.5	$	13.4	$	12.9	$	12.4	$	(0.7)	$	0.4
add:  CECL phase-in adjustment		0.6		0.6		0.6		0.9		0.9		—		(0.3)
less:  Certain AOCI items and other adjustments		3.9		3.0		2.9		3.2		3.4		0.9		0.5
Preferred equity		(2.3)		(2.3)		(2.3)		(2.3)		(2.3)		—		—
Common Equity Tier 1 capital	$	15.0	$	14.8	$	14.5	$	14.6	$	14.4	$	0.2	$	0.6
Common Equity Tier 1 capital	$	15.0	$	14.8	$	14.5	$	14.6	$	14.4	$	0.2	$	0.6
add:  Preferred equity		2.3		2.3		2.3		2.3		2.3		—		—
less:  Other adjustments		(0.1)		(0.1)		(0.1)		—		—		—		(0.1)
Tier 1 capital	$	17.3	$	17.1	$	16.8	$	16.9	$	16.7	$	0.2	$	0.6
Tier 1 capital	$	17.3	$	17.1	$	16.8	$	16.9	$	16.7	$	0.2	$	0.6
add:  Qualifying subordinated debt		0.9		0.9		0.9		0.4		0.6		—		0.3
Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		2.0		1.9		1.9		1.9		1.9		0.1		0.1
Total capital	$	20.1	$	19.9	$	19.6	$	19.2	$	19.2	$	0.2	$	0.9
Total shareholders’ equity	$	12.8	$	13.5	$	13.4	$	12.9	$	12.4	$	(0.7)	$	0.4
less:  Preferred equity		(2.3)		(2.3)		(2.3)		(2.3)		(2.3)		—		—
Goodwill and intangible assets, net of deferred tax liabilities		(0.9)		(0.9)		(0.9)		(0.9)		(0.9)		—		—
Tangible common equity (1)	$	9.6	$	10.3	$	10.2	$	9.6	$	9.2	$	(0.7)	$	0.4
Total assets	$	195.7	$	197.2	$	196.2	$	191.8	$	188.6	$	(1.5)	$	7.1
less:  Goodwill and intangible assets, net of deferred tax liabilities		(0.9)		(0.9)		(0.9)		(0.9)		(0.9)		—		—
Tangible assets (2)	$	194.8	$	196.4	$	195.3	$	190.9	$	187.7	$	(1.6)	$	7.1

Note: Numbers may not foot due to rounding

(1) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(2) Ally defines tangible assets as total assets less goodwill and intangible assets, net of deferred tax liabilities.

For more details on the final rules 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 26.

3Q 2023 Preliminary Results 17

ALLY FINANCIAL INC. LIQUIDITY AND DEPOSITS    

	QUARTERLY TRENDS										CHANGE VS.
Consolidated Available Liquidity ($ in billions)	3Q 23		2Q 23		1Q 23		4Q 22		3Q 22		2Q 23			3Q 22
Liquid cash and cash equivalents (1)	$	8.0	$	9.5	$	9.3	$	5.1	$	4.6	$	(1.5	)	$	3.4
Highly liquid securities (2)		19.6		20.7		21.5		22.2		22.7		(1.1	)		(3.2	)
Subtotal	$	27.6	$	30.2	$	30.8	$	27.3	$	27.3	$	(2.6	)	$	0.2
FHLB Unused Pledged Borrowing Capacity		11.0		12.3		12.2		11.1		6.1		(1.3	)		4.9
FRB Discount Window Unused Pledged Capacity		25.6		2.1		2.1		2.0		2.0		23.5			23.6
Total unused pledged capacity	$	36.6	$	14.4	$	14.3	$	13.2	$	8.2	$	22.2		$	28.4
Total current available liquidity	$	64.2	$	44.6	$	45.0	$	40.5	$	35.5	$	19.6		$	28.6
Unsecured Long-Term Debt Maturity Profile	2023		2024		2025		2026		2027		2028 & After
Consolidated remaining maturities (3)	$	1.2	$	1.5	$	2.3	$	—	$	1.5	$	4.6
Ally Bank Deposits
Key Deposit Statistics
Average retail CD maturity (months)		19.1		16.2		18.7		19.4		21.3		2.9			(2.2	)
Average retail deposit rate		4.00%		3.68%		3.16%		2.45%		1.50%
End of Period Deposit Levels ($ in millions)
Retail	$	140,100	$	138,983	$	138,497	$	137,684	$	133,878	$	1,117		$	6,222
Brokered & other		12,735		15,327		15,516		14,613		11,873		(2,592	)		862
Total deposits	$	152,835	$	154,310	$	154,013	$	152,297	$	145,751	$	(1,475	)	$	7,083
Deposit Mix
Retail CD		28%		27%		25%		20%		20%
MMA/OSA/Checking		64%		63%		65%		71%		72%
Brokered & other		8%		10%		10%		9%		8%

(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; as of 9/30/2023. Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs.

3Q 2023 Preliminary Results 18

ALLY FINANCIAL INC. NET INTEREST MARGIN    

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Average Balance Details	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Retail Auto Loans	$	85,131		$	84,097		$	83,615		$	83,781		$	82,362		$	1,034		$	2,769
Auto Lease (net of dep)		9,817			10,110			10,435			10,546			10,588			(293	)		(771	)
Dealer Floorplan		14,507			13,764			12,893			11,822			10,886			743			3,621
Other Dealer Loans		6,023			5,945			5,756			5,462			5,059			78			964
Corporate Finance		10,309			10,240			10,606			10,181			9,291			69			1,018
Mortgage (1)		19,028			19,325			19,621			19,876			19,762			(297	)		(734	)
Consumer Other—Ally Lending		2,201			2,114			2,037			1,904			1,672			87			529
Consumer Other—Ally Credit Card		1,826			1,701			1,618			1,486			1,300			125			526
Cash and Cash Equivalents		8,308			7,401			5,731			4,129			3,627			907			4,681
Investment Securities and Other		30,769			31,958			32,578			32,513			34,578			(1,189	)		(3,809	)
Total Earning Assets	$	187,920		$	186,655		$	184,891		$	181,698		$	179,125		$	1,265		$	8,795
Interest Revenue		3,383			3,254			3,060			2,859			2,523			129			860
Unsecured Debt (ex. Core OID balance) (2)	$	11,590		$	11,442		$	11,193		$	10,447		$	10,046		$	148		$	1,544
Secured Debt		3,120			2,879			2,552			1,917			1,374			241			1,746
Deposits (3)		153,526			152,382			152,752			148,485			142,793			1,144			10,733
Other Borrowings		7,365			7,592			6,503			9,934			12,502			(227	)		(5,137	)
Total Funding Sources (ex. Core OID balance) (2)	$	175,601		$	174,295		$	173,000		$	170,783		$	166,715		$	1,306		$	8,886
Interest Expense (ex. Core OID) (2)		1,838			1,669			1,447			1,174			793			169			1,045
Net Financing Revenue (ex. Core OID) (2)	$	1,545		$	1,585		$	1,613		$	1,685		$	1,730		$	(40	)	$	(184	)
Net Interest Margin (yield details)
Retail Auto Loan		8.90	%		8.81	%		8.49	%		7.98	%		7.29	%		0.09	%		1.61	%
Retail Auto Loan (excl. hedge impact)		8.16	%		7.87	%		7.66	%		7.37	%		7.04	%		0.29	%		1.12	%
Auto Lease (net of dep)		7.00	%		7.60	%		6.84	%		6.02	%		5.98	%		(0.60	)%		1.02	%
Dealer Floorplan		7.88	%		7.71	%		7.29	%		6.42	%		5.03	%		0.17	%		2.85	%
Other Dealer Loans		5.25	%		5.16	%		5.04	%		4.82	%		4.33	%		0.09	%		0.92	%
Corporate Finance		9.54	%		9.15	%		8.96	%		7.78	%		6.30	%		0.39	%		3.24	%
Mortgage		3.20	%		3.22	%		3.25	%		3.17	%		3.10	%		(0.02	)%		0.10	%
Consumer Other—Ally Lending		9.94	%		9.99	%		9.97	%		10.37	%		11.04	%		(0.05	)%		(1.10	)%
Consumer Other—Ally Credit Card		22.39	%		21.88	%		21.84	%		21.75	%		21.17	%		0.51	%		1.22	%
Cash and Cash Equivalents		4.73	%		4.70	%		3.95	%		2.94	%		1.73	%		0.03	%		3.00	%
Investment Securities and Other		3.53	%		3.17	%		3.04	%		2.89	%		2.55	%		0.36	%		0.98	%
Total Earning Assets		7.14	%		6.99	%		6.71	%		6.24	%		5.59	%		0.15	%		1.55	%
Unsecured Debt (ex. Core OID & Core OID balance) (2)		5.55	%		5.40	%		5.34	%		5.12	%		4.99	%		0.15	%		0.56	%
Secured Debt		6.81	%		5.61	%		6.04	%		4.73	%		6.08	%		1.20	%		0.73	%
Deposits (3)		4.04	%		3.74	%		3.23	%		2.53	%		1.58	%		0.30	%		2.46	%
Other Borrowings (4)		3.23	%		3.00	%		2.74	%		2.80	%		2.48	%		0.23	%		0.75	%
Total Funding Sources (ex. Core OID & Core OID balance) (2)		4.15	%		3.84	%		3.39	%		2.73	%		1.89	%		0.31	%		2.26	%
NIM (as reported)		3.24	%		3.38	%		3.51	%		3.65	%		3.81	%		(0.14	)%		(0.57	)%
NIM (ex. Core OID & Core OID balance) (2)		3.26	%		3.41	%		3.54	%		3.68	%		3.83	%		(0.14	)%		(0.57	)%

(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) Represents a non-GAAP financial measure. Excludes Core OID from interest expense and Core OID balance from Unsecured Debt. For more details refer to pages 25-27.

(3) Includes retail, brokered, and other deposits. Other includes sweep deposits and other deposits.

(4) Includes FHLB Borrowings, Repurchase Agreements and other.

3Q 2023 Preliminary Results 19

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

($ in billions)	QUARTERLY TRENDS
Mortgage Finance HFI Portfolio	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22
Loan Value
Gross carry value	$	18.7		$	18.9		$	19.2		$	19.4		$	19.7
Net carry value	$	18.6		$	18.9		$	19.2		$	19.4		$	19.7
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)		0.5	%		0.4	%		0.4	%		0.6	%		0.7	%
% Low/No documentation		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
% Non-primary residence		4.1	%		4.1	%		4.1	%		4.4	%		4.4	%
Refreshed FICO(3)		782			782			781			781			780
Wtd. Avg. LTV/CLTV (4)		53.1	%		54.5	%		55.0	%		54.6	%		54.2	%
Corporate Other Legacy Mortgage HFI Portfolio
Loan Value
Gross carry value	$	0.2		$	0.3		$	0.3		$	0.3		$	0.3
Net carry value	$	0.2		$	0.3		$	0.3		$	0.3		$	0.3
Estimated Pool Characteristics
% Second lien		12.4	%		12.5	%		12.9	%		13.0	%		13.3	%
% Interest only		0.2	%		0.0	%		0.0	%		0.1	%		0.1	%
% 30+ Day delinquent(1)(2)		6.7	%		6.6	%		6.5	%		6.4	%		5.6	%
% Low/No documentation		25.2	%		24.8	%		24.2	%		23.6	%		23.4	%
% Non-primary residence		3.2	%		3.4	%		3.3	%		3.3	%		3.4	%
Refreshed FICO(3)		743			742			741			742			743
Wtd. Avg. LTV/CLTV (4)		47.3	%		48.1	%		48.1	%		47.4	%		47.6	%

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.

3Q 2023 Preliminary Results 20

ALLY FINANCIAL INC. EARNINGS PER SHARE RELATED INFORMATION    

($ in millions, shares in thousands)		QUARTERLY TRENDS										CHANGE VS.
Earnings Per Share Data		3Q 23		2Q 23		1Q 23		4Q 22		3Q 22		2Q 23		3Q 22
GAAP net income attributable to common shareholders		$	269	$	301	$	291	$	251	$	272	$	(32)	$	(3)
Weighted-average common shares outstanding - basic			304,134		303,684		302,657		301,279		308,220		450		(4,086)
Weighted-average common shares outstanding - diluted			305,693		304,646		303,448		303,062		310,086		1,048		(4,393)
Issued shares outstanding (period-end)			301,630		301,619		300,821		299,324		300,335		11		1,295
Net income per share - basic		$	0.88	$	0.99	$	0.96	$	0.83	$	0.88	$	(0.11)	$	—
Net income per share - diluted		$	0.88	$	0.99	$	0.96	$	0.83	$	0.88	$	(0.11)	$	—
Adjusted Earnings per Share (“Adjusted EPS”) (2)
Numerator
GAAP net income attributable to common shareholders		$	269	$	301	$	291	$	251	$	272	$	(32)	$	(3)
Discontinued operations, net of tax			—		—		1		—		1		—		(1)
Core OID			12		12		11		11		11		0		2
Change in the fair value of equity securities (3)			56		(25)		(65)		(49)		62		81		(6)
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)			(21)		3		11		(4)		(20)		(24)		(1)
Repositioning (3)			30		—		—		57		20		30		10
Significant discrete tax items			(94)		—		—		61		—		(94)		(94)
Core net income attributable to common shareholders (1)		$	252	$	291	$	250	$	327	$	346	$	(39)	$	(94)
Denominator
Weighted-average common shares outstanding - diluted			305,693		304,646		303,448		303,062		310,086		1,048		(4,393)
Adjusted EPS (2)		$	0.83	$	0.96	$	0.82	$	1.08	$	1.12	$	(0.13)	$	(0.29)
GAAP original issue discount amortization expense		$	15	$	15	$	15	$	14	$	13	$	0	$	2
Other OID			3		3		3		3		3		0		0
Core original issue discount (Core OID) amortization expense (1)		$	12	$	12	$	11	$	11	$	11	$	0	$	2
GAAP outstanding original issue discount balance		$	(847)	$	(863)	$	(878)	$	(882)	$	(888)	$	15	$	41
Other outstanding OID balance			(42)		(45)		(48)		(40)		(36)		3		(6)
Core outstanding original issue discount balance (Core OID balance) (1)		$	(806)	$	(818)	$	(830)	$	(841)	$	(852)	$	12	$	47
GAAP Net Financing Revenue	[A]	$	1,533	$	1,573	$	1,602	$	1,674	$	1,719	$	(40)	$	(186)
Core OID			12		12		11		11		11		0		2
Net Financing Revenue (ex. Core OID) (1)	[B]	$	1,545	$	1,585	$	1,613	$	1,685	$	1,730	$	(40)	$	(184)
GAAP Other Revenue	[C]	$	435	$	506	$	498	$	527	$	297	$	(71)	$	138
Change in the fair value of equity securities (3)			56		(25)		(65)		(49)		62		81		(6)
Adjusted Other Revenue (1)	[D]	$	491	$	481	$	433	$	478	$	359	$	10	$	132
GAAP Provision Expense		$	508	$	427	$	446	$	490	$	438	$	81	$	70
Adjusted Provision (ex. Repositioning)		$	508	$	427	$	446	$	490	$	438	$	81	$	70
GAAP Noninterest expense	[E]	$	1,232	$	1,249	$	1,266	$	1,266	$	1,161	$	(17)	$	71
Repositioning and other			(30)		—		—		(57)		(20)		(30)		(10)
Adjusted Noninterest Expense (1)	[F]	$	1,202	$	1,249	$	1,266	$	1,209	$	1,141	$	(47)	$	61
Pre-Provision Net Revenue (PPNR)	[A]+[C]+[E]	$	736	$	830	$	834	$	935	$	855	$	(94)	$	(119)
Core Pre-Provision Net Revenue (PPNR) (1)	[B]+[D]+[F]	$	834	$	817	$	781	$	954	$	948	$	17	$	(114)

(1) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(2) 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) change in fair value of equity securities, (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 that have been taken by the company to normalize its capital structure, as applicable for respective periods. See pages 25-27 for details.

(3) For more details refer to pages 25-27.

3Q 2023 Preliminary Results 21

ALLY FINANCIAL INC. ADJUSTED TANGIBLE BOOK PER SHARE RELATED INFORMATION    

($ in millions, shares in thousands)	QUARTERLY TRENDS										CHANGE VS.
Adjusted Tangible Book Value Per Share (“Adjusted TBVPS”)  Information	3Q 23		2Q 23		1Q 23		4Q 22		3Q 22		2Q 23		3Q 22
Numerator
GAAP shareholder’s equity	$	12,825	$	13,532	$	13,378	$	12,859	$	12,434	$	(707)	$	391
Preferred equity		(2,324)		(2,324)		(2,324)		(2,324)		(2,324)		—		—
GAAP common shareholder’s equity	$	10,501	$	11,208	$	11,054	$	10,535	$	10,110	$	(707)	$	391
Goodwill and identifiable intangibles, net of DTLs		(879)		(887)		(895)		(902)		(910)		8		31
Tangible common equity (1)		9,622		10,321		10,159		9,633		9,200		(699)		422
Tax-effected Core OID balance (21% tax rate) (1)		(636)		(646)		(656)		(665)		(673)		10		37
Adjusted tangible book value (2)	$	8,986	$	9,675	$	9,504	$	8,968	$	8,527	$	(689)	$	459
Denominator
Issued shares outstanding (period-end, thousands)		301,630		301,619		300,821		299,324		300,335		11		1,295
GAAP shareholder’s equity per share	$	42.52	$	44.86	$	44.47	$	42.96	$	41.40	$	(2.35)	$	1.12
Preferred equity per share		(7.70)		(7.71)		(7.73)		(7.76)		(7.74)		—		0.03
GAAP common shareholder’s equity per share	$	34.81	$	37.16	$	36.75	$	35.20	$	33.66	$	(2.35)	$	1.15
Goodwill and identifiable intangibles, net of DTLs per share		(2.91)		(2.94)		(2.97)		(3.01)		(3.03)		0.03		0.12
Tangible common equity per share (1)		31.90		34.22		33.77		32.18		30.63		(2.32)		1.27
Tax-effected Core OID balance (21% tax rate) per share (1)		(2.11)		(2.14)		(2.18)		(2.22)		(2.24)		0.03		0.13
Adjusted tangible book value per share (2)	$	29.79	$	32.08	$	31.59	$	29.96	$	28.39	$	(2.29)	$	1.40

(1) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(2) 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.

3Q 2023 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”)	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Numerator
GAAP net income attributable to common shareholders	$	269		$	301		$	291		$	251		$	272		$	(32	)	$	(3	)
Discontinued operations, net of tax		—			—			1			—			1			—			(1	)
Core OID (2)		12			12			11			11			11			0			2
Change in the fair value of equity securities		56			(25	)		(65	)		(49	)		62			81			(6	)
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)		(21	)		3			11			(4	)		(20	)		(23	)		(1	)
Repositioning (2)		30			—			—			57			20			30			10
Significant discrete tax items		(94	)		—			—			61			—			(94	)		(94	)
Core net income attributable to common shareholders (1)	$	252		$	291		$	250		$	327		$	346		$	(39	)	$	(94	)
Denominator (average, $ millions)
GAAP shareholder’s equity	$	13,179		$	13,455		$	13,119		$	12,647		$	13,209		$	(277	)	$	(31	)
Preferred equity		(2,324	)		(2,324	)		(2,324	)		(2,324	)		(2,324	)		—			—
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(883	)		(891	)		(898	)		(906	)		(915	)		8			32
Tangible common equity (1)	$	9,972		$	10,240		$	9,896		$	9,417		$	9,970		$	(268	)	$	2
Core OID balance		(812	)		(824	)		(835	)		(847	)		(858	)		12			46
Net deferred tax asset (“DTA”)		(1,310	)		(1,060	)		(1,059	)		(1,165	)		(1,068	)		(250	)		(241	)
Normalized common equity	$	7,850		$	8,357		$	8,002		$	7,405		$	8,044		$	(506	)	$	(194	)
Core Return on Tangible Common Equity (3)		12.9	%		13.9	%		12.5	%		17.6	%		17.2	%

(1) Represents a non-GAAP measure. See pages 25-27 for methodology and detail.

(2) For more details see pages 25-27.

(3) 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, change in fair value of equity securities, 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.

3Q 2023 Preliminary Results 23

ALLY FINANCIAL INC. ADJUSTED EFFICIENCY RATIO RELATED INFORMATION    

($ in millions)	QUARTERLY TREND															CHANGE VS.
Adjusted Efficiency Ratio Calculation	3Q 23			2Q 23			1Q 23			4Q 22			3Q 22			2Q 23			3Q 22
Numerator
GAAP Noninterest expense	$	1,232		$	1,249		$	1,266		$	1,266		$	1,161		$	(17	)	$	71
Insurance expense		(338	)		(358	)		(315	)		(286	)		(290	)		20			(48	)
Repositioning (2)		(30	)		—			—			(57	)		(20	)		(30	)		(10	)
Adjusted noninterest expense for the efficiency ratio	$	864		$	891		$	951		$	923		$	851		$	(27	)	$	13
Denominator
Total net revenue	$	1,968		$	2,079		$	2,100		$	2,201		$	2,016		$	(111	)	$	(48	)
Core OID (2)		12			12			11			11			11			0			2
Insurance revenue		(322	)		(366	)		(407	)		(387	)		(260	)		44			(62	)
Adjusted net revenue for the efficiency ratio	$	1,658		$	1,725		$	1,704		$	1,825		$	1,767		$	(67	)	$	(108	)
Adjusted Efficiency Ratio (1)		52.1	%		51.7	%		55.8	%		50.6	%		48.2	%

(1) 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.

(2) For more details see pages 25-27.

3Q 2023 Preliminary Results 24

ALLY FINANCIAL INC.    

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: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-provision net revenue (Core PPNR), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), Pre-provision net revenue (PPNR), and Tangible Common Equity. These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital.

1) Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt.

2) 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 onetime items, (4) change in fair value of equity securities, (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 that have been taken by the company to normalize its capital structure, as applicable for respective periods.

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.

4) Adjusted noninterest expense is a non-GAAP financial measure that adjusts GAAP noninterest expense for repositioning items. Management believes adjusted noninterest expense is a helpful financial metric because it enables the reader better understand the business’ expenses excluding nonrecurring items.

5) Adjusted other revenue is a non-GAAP financial measure that adjusts GAAP other revenue for OID expenses, repositioning, and change in fair value of equity securities. Management believes adjusted other revenue is a helpful financial metric because it enables the reader to better understand the business’ ability to generate other revenue.

6) 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.

7) Adjusted total net revenue is a non-GAAP financial measure that management believes is helpful for readers to understand the ongoing ability of the company to generate revenue. For purposes of this calculation, GAAP net financing revenue is adjusted by excluding Core OID to calculate net financing revenue ex. core OID. GAAP other revenue is adjusted for OID expenses, repositioning, and change in fair value of equity securities to calculate adjusted other revenue. Adjusted total net revenue is calculated by adding net financing revenue ex. core OID to adjusted other revenue.

8) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income.

9) 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.

3Q 2023 Preliminary Results 25

ALLY FINANCIAL INC.    

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: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-provision net revenue (Core PPNR), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), Pre-provision net revenue (PPNR), and Tangible Common Equity. These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital.

10) 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.

11) 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.

12) Core pre-provision net revenue (Core PPNR) is a non-GAAP financial measure calculated by adding GAAP net financing revenue and GAAP other revenue and subtracting GAAP noninterest expense then adding Core OID and repositioning expenses, excluding provision for credit losses. Management believes that Core PPNR is a helpful financial metric because it enables the reader to assess the core business’ ability to generate earnings to cover credit losses.

13) 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) change in fair value of equity securities (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.

14) 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 onetime items, change in fair value of equity securities, 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.

15) 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 extended through December 31, 2021. Beginning on January 1, 2022, we are 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 beginning January 1, 2022, are phasing in the regulatory capital impacts of CECL based on this five-year transition period.

16) Investment income and other (adjusted) is a non-GAAP financial measure that adjusts GAAP investment income and other for repositioning, and the change in fair value of equity securities. Management believes investment income and other (adjusted) is a helpful financial metric because it enables the reader to better understand the business’ ability to generate investment income.

17) Net financing revenue excluding core OID is calculated using a non-GAAP measure that adjusts net financing revenue by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net financing revenue ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’ ability to generate revenue.

18) Net interest margin excluding core OID is calculated using a non-GAAP measure that adjusts net interest margin by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net interest margin ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’ profitability and margins.

3Q 2023 Preliminary Results 26

ALLY FINANCIAL INC.    

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: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-provision net revenue (Core PPNR), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), Pre-provision net revenue (PPNR), and Tangible Common Equity. These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital.

19) Pre-provision net revenue (PPNR) is a non-GAAP financial measure calculated by adding GAAP net financing revenue and GAAP other revenue then subtracting GAAP noninterest expense, excluding provision for credit losses. Management believes that PPNR is a helpful financial metric because it enables the reader to assess the business’ ability to generate earnings to cover credit losses and as it is utilized by Federal Reserve’s approach to modeling within the Supervisory Stress Test Framework that generally follows U.S. generally accepted accounting principles (GAAP) and includes a calculation of PPNR as a component of projected pre-tax net income.

20) Repositioning is primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, and other one-time items.

21) 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.

3Q 2023 Preliminary Results 27

XML

Document and Entity Information	Oct. 18, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Oct. 18, 2023
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 1	500 Woodward Ave.
Entity Address Address Line 2	Floor 10
Entity Address City Or Town	Detroit
Entity Address Address Description	Ally Detroit Center
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
Security 12b Title	Common Stock, par value $0.01 per share
Trading Symbol	ALLY
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000040729
Security Exchange Name	NONE