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.

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