Form 8-K Ally Financial Inc. For: Oct 21

October 21, 2021 7:35 AM

Exhibit 99.1

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News release: IMMEDIATE RELEASE

Ally Financial Reports Third Quarter 2021 Financial Results


$1.89	18.1%	$683MM	$1.99B
GAAP EPS	RETURN ON COMMON EQUITY	GAAP NET INCOME	GAAP TOTAL NET REVENUE
$2.16	24.2%	$782MM	$2.11B
ADJUSTED EPS¹	CORE ROTCE¹	CORE NET INCOME¹	ADJUSTED TOTAL NET REVENUE ¹


		• Ally acquiring Fair Square Financial for $750 million (all cash) \| Scalable, customer-centric, digital-first credit card platform • Consumer auto originations of $12.3 billion, from a third quarter record 3.3 million decisioned applications – 7.10% Estimated Retail Auto Originated Yield1 \| Continued strong retail auto credit performance with 27bps of net charge-offs • Insurance written premiums of $295 million, durable investment income sourced from $6.4B portfolio • Retail deposit customers of 2.45 million grew for the 50th consecutive quarter \| Retail balances of $131.6 billion, up 9% YoY and $2.4 billion QoQ • Ally Home^® direct-to-consumer mortgage originations of $3.6 billion, up 176% YoY • Ally Invest net customer assets of $16.3 billion, up 42% YoY \| Self-directed and managed accounts up 13% YoY to 503 thousand • Ally Lending gross originations of $362 million, up 110% YoY \| 2.8 thousand merchants, up 23% YoY • Corporate Finance held-for-investment portfolio of $6.6 billion, up 12% YoY \| Strong syndication and origination volume trends • Announced 4Q21 common dividend of $0.25 per share \| Remain on track with FY 2021 buyback authorization of $2.0 billion • Ally rated investment grade by all credit rating agencies, following Moody’s upgrade in 3Q

		“Ally delivered another strong quarter of financial and operational results, building on momentum generated across our leading businesses. Our customer-centric platforms are well positioned to capture market opportunities as they arise, which is reflected in our long-term performance,” said Ally Chief Executive Officer Jeffrey J. Brown. “Our teammates relentlessly focus on delivering for customers, as demonstrated in the company we’ve built over several years positioned for ongoing, profitable growth. “Our announcement to acquire Fair Square Financial – a digital-first credit card company – aligns with our long-term strategy to be the leading full-service digital-bank. The transaction enhances our ability to provide Ally’s growing customer base with the ability to save, spend, invest and borrow with differentiated-products. The addition of credit card complements our existing offerings, adding a growing, customer-focused product with attractive risk-adjusted returns. “I remain particularly proud of the ‘Do It Right’ values we live out as a company. During the quarter, Ally Bank became BankOn certified by Cities for Financial Empowerment following the elimination of overdraft fees, and we launched a RefiNow product increasing mortgage availability to underserved populations. For our teammates, we increased minimum wage by 18%, to $20 per hour, and announced the third annual grant of Ally common stock for all eligible employees. In September, we hosted our annual Moguls in the Making student-led competition, where 10 HBCU’s were represented, culminating in scholarship awards and internship offers. Additionally, Ally was recently named a 2021 top-50 place to work by Diversity Inc., and several of our leaders received industry recognition for their influence and leadership in banking. The combined impact of these actions drives enhanced value for all of our stakeholders.”


		Third Quarter 2021 Financial Results
		Third Quarter 2021 Financial Results


										*% Increase/(Decrease) vs.*

($ millions except per share data)	3Q 21			2Q 21			3Q 20			*2Q 21*			*3Q 20*

GAAP Net Income	$	683		$	900		$	476			(24	)%		43	%

Core Net Income¹	$	782		$	868		$	473			(10	)%		65	%

GAAP Earning per Common Share	$	1.89		$	2.41		$	1.26			(22	)%		49	%

Adjusted EPS¹	$	2.16		$	2.33		$	1.25			(7	)%		72	%

Return on GAAP Shareholder’s Equity		18.1	%		24.1	%		13.6	%		(25	)%		33	%

Core ROTCE¹		24.2	%		26.7	%		15.2	%		(10	)%		59	%

GAAP Total Net Revenue	$	1,985		$	2,085		$	1,684			(5	)%		18	%

Adjusted Total Net Revenue¹	$	2,110		$	2,145		$	1,680			(2	)%		26	%

Pre-Provision Net Revenue¹	$	983		$	1,010		$	779			(3	)%		26	%

Core Pre-Provision Net Revenue¹	$	1,108		$	1,070		$	775			4	%		43	%

GAAP Common Shareholder’s Equity per Share	$	42.81		$	41.93		$	37.78			2	%		13	%

Adjusted Tangible Book Value per Share¹	$	39.72		$	38.83		$	34.56			2	%		15	%

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

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		Discussion of Third Quarter 2021 Results
		Discussion of Third Quarter 2021 Results
Net income attributable to common shareholders was $683 million in the quarter, compared to $476 million in the third quarter of 2020, as higher net financing revenue and lower provision for credit losses more than offset higher noninterest expense and lower other revenue. Net financing revenue was $1.59 billion, up $394 million year over year, driven by lower funding costs and higher consumer auto revenue, partially offset by lower commercial auto portfolio balances. Other revenue decreased $93 million year over year to $391 million, due to a $65 million decrease in the fair value of equity securities in the quarter compared to a $13 million increase in the fair value of equity securities in the prior-year quarter, as well as a $52 million loss on extinguishment of debt associated with the redemption of $1.0 billion of trust preferred securities. Adjusted other revenue^A, excluding the change in fair value of equity securities and the loss on extinguishment of debt, increased $37 million year over year to $507 million, as charges from early FHLB extinguishment in the prior year didn’t repeat. Net interest margin (“NIM”) of 3.66%, including Core OID^B of 2 bps, increased 101 bps year over year. Excluding Core OIDB, NIM was 3.68%, up 101 bps year over year, primarily due to lower funding costs, higher consumer auto portfolio balance and yield, and lower excess cash and commercial auto portfolio balances. Provision for credit losses declined $71 million year over year to $76 million, primarily due to continued strong performance and favorable macroeconomic trends. Noninterest expense increased $97 million year over year, primarily due to the continued growth and diversification of our businesses, including higher technology and marketing costs.

^A Adjusted other revenue is a non-GAAP financial measure. Adjusted for (i) repositioning items related to loss on extinguishment of debt associated with the redemption of TRUPs and (ii) change in the fair value of equity securities due to the implementation of ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

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


		Third Quarter 2021 Financial Results
		Third Quarter 2021 Financial Results


							*Increase/(Decrease) vs.*

($ millions except per share data)	3Q 21		2Q 21		3Q 20		2Q 21		3Q 20

Net Financing Revenue (excluding Core OID)¹	$	1,603	$	1,556	$	1,209	$	47	$	394

Core OID		(9)		(9)		(9)		0		0

(a) Net Financing Revenue		1,594		1,547		1,200		47		394

Adjusted Other Revenue²		507		588		471		(81)		37

Repositioning & Change in Fair Value of Equity Securities³		(116)		(50)		13		(66)		(130)

(b) Other Revenue		391		538		484		(147)		(93)

(c) Provision for Credit Losses		76		(32)		147		108		(71)

(d) Noninterest Expense		1,002		1,075		905		(73)		97

Pre-Tax Income (a+b-c-d)	$	907	$	1,042	$	632	$	*(135)*	$	*275*

Income Tax Expense		195		143		156		52		39

Net Income from Discontinued Operations		—		1		0		(1)		0

Net Income	$	712	$	900	$	476	$	*(188)*	$	*236*

Preferred Dividends		29		—		—		29		29

Net Income Attributable to Common Shareholders	$	683	$	900	$	476	$	*(217)*	$	*207*



GAAP EPS (diluted)	$	1.89	$	2.41	$	1.26	$	*(0.53)*	$	*0.62*

Core OID, Net of Tax		0.02		0.02		0.02		0.00		0.00

Change in Fair Value of Equity Securities, Net of Tax		0.14		(0.04)		(0.03)		0.18		0.17

Repositioning, Discontinued Ops, and Other, Net of Tax³		0.11		0.14		—		(0.03)		0.11

Significant Discrete Tax Items⁴		—		(0.21)		—		0.21		—

Adjusted EPS⁵	$	2.16	$	2.33	$	1.25	$	*(0.17)*	$	*0.91*

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

(2)

Represents a non-GAAP financial measure. Adjusted for (i) repositioning items related to loss on extinguishment of debt associated with the redemption of TRUPs and (ii) change in the fair value of equity securities due to the implementation of ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity.

(3)	Repositioning, net of tax in 3Q 2021 includes a $52 million charge related to loss on extinguishment of debt associated with the redemption of TRUPs while 2Q 2021 includes a $70 million charge.

(4)	2Q 21 effective tax rate was impacted primarily due to a $78 million release of valuation allowance on foreign tax credit carryforwards during the second quarter of 2021.

(5)	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 release.

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		Pre-Tax Income by Segment
		Pre-Tax Income by Segment


	*Increase/(Decrease) vs.*
($ millions)	3Q 21			2Q 21			3Q 20			*2Q 21*			*3Q 20*

Automotive Finance	$	825		$	917		$	566		$	(92	)	$	259

Insurance		24			87			78			(63	)		(54	)
Dealer Financial Services	$	849		$	1,004		$	644		$	*(155*	)	$	*205*

Corporate Finance		61			95			60			(34	)		1

Mortgage Finance		6			—			26			6			(20	)

Corporate and Other		(9	)		(57	)		(98	)		48			89

Pre-Tax Income from Continuing Operations	$	907		$	1,042		$	632		$	*(135*	)	$	*275*

Core OID¹		9			9			9			(0	)		0

Change in Fair Value of Equity Securities²		65			(19	)		(13	)		84			78

Repositioning and Other³		52			70			—			(18	)		52

Core Pre-Tax Income⁴	$	1,032		$	1,102		$	628		$	*(69*	)	$	*405*

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

(2)

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

(3)	Repositioning, net of tax in 3Q 2021 includes a $52 million charge related to loss on extinguishment of debt associated with the redemption of TRUPs while 2Q 2021 includes a $70 million charge.

(4)

Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations for Core OID, equity fair value adjustments related to ASU 2016-01, and repositioning and other primarily related to the loss on extinguishment of debt associated with the redemption of TRUPs. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms later in this release.


		Discussion of Segment Results

Auto Finance

Pre-tax income of $825 million was up $259 million year over year, primarily due to higher net financing revenue and lower provision for credit losses, partially offset by higher noninterest expense.

Net financing revenue of $1,329 million was $227 million higher year over year, driven by higher retail auto revenue and elevated gains on off-lease vehicles, partially offset by lower commercial auto portfolio balances. Ally’s retail auto portfolio yield increased 1 bps year over year to 6.84%, excluding the impact of hedges.

Provision for credit losses was $53 million, improving $75 million year over year, reflecting strong consumer and commercial performance, improved economic trends, and disciplined collections efforts. The retail auto net charge-off rate was 0.27%, down 37 bps year over year.

Consumer auto originations increased to $12.3 billion from $9.8 billion in the prior-year period, which included a record $7.8 billion of used retail volume, or 64% of total originations, $3.2 billion of new retail volume, and $1.3 billion of leases. Estimated retail auto originated yield^C of 7.10% in the quarter was up 15 bps year over year.

End-of-period auto earning assets decreased $3.6 billion year over year from $104.8 billion to $101.2 billion, as an increase in consumer auto earning assets was more than offset by a decline in commercial earning assets. End-of-period consumer auto earning assets were up $5.7 billion year over year, driven by growth in retail loans and operating lease assets. End-of-period commercial earning assets of $12.6 billion were $9.3 billion lower year over year, driven by industry-wide vehicle inventory declines.

Insurance

Pre-tax income of $24 million was $54 million lower year over year, primarily due to a $65 million decrease in the fair value of equity securitiesD in the quarter compared to a $13 million increase in the fair value of equity securities^D in the prior-year quarter. Core pre-tax income^E increased $24 million year over year to $89 million, primarily due to higher investment income and lower weather losses.

Written premiums were $295 million, down $38 million year over year, driven by lower vehicle sales and lower dealer inventory levels.

Total investment income, excluding a $65 million decrease in the fair value of equity securities during the quarterD, was $80 million, up $26 million year over year, driven by higher realized investment gains.

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

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

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

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Corporate Finance

Pre-tax income of $61 million in the quarter was relatively flat year over year, as higher net financing revenue and higher other revenue were offset by higher provision for credit losses and higher noninterest expense.

Net financing revenue was up $2 million year over year to $77 million. Other income increased $7 million year over year to $16 million, driven by strong fee income and realized investment gains.

Provision for credit losses was $5 million, increasing $4 million from the prior-year period, but continues to reflect strong credit performance.

The held-for-investment loan portfolio increased 12% year over year from $5.9 billion to an all-time high of $6.6 billion.

Mortgage Finance

Pre-tax income was down $20 million year over year, driven by lower other revenue and higher noninterest expense, partially offset by higher net financing revenue.

Net financing revenue was up $6 million year over year to $36 million, reflecting lower prepayment-related premium amortization. Other revenue decreased $17 million year over year to $19 million, primarily driven by lower gain-on-sale activity. Noninterest expense increased $7 million as the business continues to scale.

Direct-to-consumer originations totaled $3.6 billion in the quarter, up $2.3 billion year over year, representing the highest quarterly origination volume since launching Ally Home^® in 2016.

Existing Ally Bank deposit customers accounted for 30% of the quarter’s direct-to-consumer origination volume.


		Capital, Liquidity & Deposits
		Capital, Liquidity & Deposits
Capital Ally paid a $0.25 per share quarterly common dividend and completed $679 million of share repurchases in the third quarter, including shares withheld to cover income taxes owed by participants related to share-based incentive plans. Ally’s board of directors approved a $0.25 per share common dividend for the fourth quarter of 2021. In the third quarter, Ally announced the redemption of $191 million of trust preferred securities. Ally’s Common Equity Tier 1 (CET1) capital ratio decreased from 11.3% to 11.2% quarter over quarter. Risk-weighted asset growth as well as dividend and share repurchase activity offset strong net income generation. Liquidity & Funding Consolidated cash and cash equivalents^F totaled $10.1 billion at quarter-end, down from $13.0 billion at the end of the second quarter. Total liquidity^G was $36.9 billion at quarter-end. Deposits represented 90% of Ally’s funding portfolio at quarter-end, increasing from 82% a year ago. Deposits Retail deposits increased to $131.6 billion at quarter-end, up $10.8 billion year over year and up $2.4 billion for the quarter. Total deposits increased $4.5 billion year over year to $139.4 billion at quarter-end. The average retail portfolio deposit rate was 0.64% for the quarter, down 62 bps year over year and down 5 bps quarter over quarter. Ally’s retail deposit customer base grew 11% year over year, totaling 2.45 million customers at quarter-end. Millennials and younger customers continue to comprise the largest generation segment of new customers, accounting for 71% of new customers in the quarter. Approximately 9% of deposit customers maintained an Ally Invest or Ally Home relationship at quarter-end.

Fair Square Financial Acquisition

Ally has entered into a definitive agreement to acquire Fair Square Financial (“FSF”) for $750 million in an all-cash transaction. The transaction was unanimously approved by Ally’s board of directors and is expected to close by the end of the first quarter 2022. Ally expects the transaction to further enhance profitability and risk-adjusted returns. The deal advances Ally’s evolution as the leading digital consumer bank providing frictionless, innovative products to our growing customer base. The acquisition provides Ally with a scalable, digital-first credit card platform. In addition to advancing Ally’s digital offerings, it enhances our ability to grow and deepen customer relationships and provides access to the $1 trillion credit card market.

Since its founding in 2016, and led by a management team deeply experienced in the credit card industry, FSF has focused on providing products that improve the financial future of customers via leading-edge technology and proprietary, analytics based underwriting. Over the past four years, FSF has grown customers and loan balances at compounded annual rates of 66% and 74%, respectively. FSF currently has approximately 658 thousand cardholders and $763 million in loan balances^H. Similar to Ally, FSF is digitally-born and seeks to meet the shifting preferences of today’s consumer. The digital-DNA has positioned FSF to generate significant customer engagement through web and mobile while also having a 100% digital application process. FSF’s customer-centric culture complements Ally’s Do It Right mantra, evidenced in customer satisfaction above 90% and NPS in the mid-50’s.

The transaction does not impact Ally’s previously announced $2 billion share repurchase authorization and is expected to consume approximately 50-55 bps of CET1. Citi served as lead financial advisor, Goldman Sachs & Co. LLC also served as a financial advisor and Sullivan & Cromwell LLP served as legal counsel to Ally. J.P. Morgan served as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Fair Square Financial.

^F Cash & 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.

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

^H Company, operational and financial information provided by Fair Square Financial and is unaudited.

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		Definitions of Non-GAAP Financial Measures and Other Key Terms

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

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

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

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

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

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

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

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

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

Core Pre-Provision Net Revenue (Core PPNR) is a non-GAAP financial measure calculated by adjusting Core pre-tax income to add back provision for credit losses. Management believes that Core PPNR is a helpful financial metric because it enables the reader to assess the core businesses 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 8 for calculation methodology and details.

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

(1)

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

(2)

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

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

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

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

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

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


U.S. Consumer Auto Originations
New Retail – standard and subvented rate new vehicle loans		Used Retail – used vehicle loans
Growth – total originations from non-GM/Stellantis dealers and direct-to-consumer loans		Lease – new vehicle lease originations

Reconciliation to GAAP




Adjusted Earnings per Share

*Numerator ($ millions)*		3Q 21			2Q 21			3Q 20


GAAP Net Income Attributable to Common Shareholders		$	683		$	900		$	476

Discontinued Operations, Net of Tax			—			(1	)		—

Core OID			9			9			9

Repositioning and Other			52			70			—

Change in the Fair Value of Equity Securities			65			(19	)		(13	)

Tax on: Core OID & Change in Fair Value of Equity Securities (21% starting 1Q18)			(26	)		(13	)		1

Significant Discrete Tax Items			—			(78	)		—


Core Net Income Attributable to Common Shareholders	[a]	$	782		$	868		$	473

*Denominator*

Weighted-Average Common Shares Outstanding *- (Diluted, thousands)*	[b]		361,855			373,029			377,011


Adjusted EPS	[a] ÷ [b]	$	2.16		$	2.33		$	1.25





Core Return on Tangible Common Equity (ROTCE)

*Numerator ($ millions)*		3Q 21			2Q 21			3Q 20


GAAP Net Income Attributable to Common Shareholders		$	683		$	900		$	476

Discontinued Operations, Net of Tax			—			(1	)		—

Core OID			9			9			9

Repositioning and Other			52			70			—

Change in Fair Value of Equity Securities			65			(19	)		(13	)

Tax on: Core OID & Change in Fair Value of Equity Securities (21% starting 1Q18)			(26	)		(13	)		1

Significant Discrete Tax Items			—			(78	)		—


Core Net Income Attributable to Common Shareholders	[a]	$	782		$	868		$	473

*Denominator (Average, $ millions)*

GAAP Shareholder’s Equity		$	17,410		$	16,078		$	13,976

Preferred Equity			(2,324	)		(1,162	)		—


GAAP Common Shareholder’s Equity		$	15,086			14,916		$	13,976

Goodwill & Identifiable Intangibles, Net of Deferred Tax Liabilities (DTLs)			(371	)		(376	)		(389	)


Tangible Common Equity		$	14,714		$	14,540		$	13,587

Core OID Balance			(926	)		(985	)		(1,041	)

Net Deferred Tax Asset (DTA)			(866	)		(571	)		(118	)


Normalized Common Equity	[b]	$	12,923		$	12,984		$	12,427

Core Return on Tangible Common Equity	[a] ÷ [b]		24.2	%		26.7	%		15.2	%

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Adjusted Tangible Book Value per Share


*Numerator ($ millions)*		3Q 21			2Q 21			3Q 20

GAAP Shareholder’s Equity		$	17,289		$	17,530		$	14,126

Preferred Equity			(2,324)			(2,324)			—



GAAP Common Shareholder’s Equity		$	14,965		$	15,206		$	14,126

Goodwill and Identifiable Intangible Assets, Net of DTLs			(369)			(374)			(387)



Tangible Common Equity			14,596			14,832			13,739

Tax-effected Core OID Balance (21% starting in 4Q17)			(711)			(752)			(819)



Adjusted Tangible Book Value	[a]	$	13,885		$	14,081		$	12,920

*Denominator*

Issued Shares Outstanding (period-end, thousands)	[b]		349,599			362,639			373,857

*Metric*

GAAP Common Shareholder’s Equity per Share		$	42.81		$	41.93		$	37.78

Goodwill and Identifiable Intangible Assets, Net of DTLs per Share			(1.06)			(1.03)			(1.03)



Tangible Common Equity per Share		$	41.75		$	40.90 $			36.75

Tax-effected Core OID Balance (21% starting in 4Q17) per Share			(2.03)			(2.07)			(2.19)



Adjusted Tangible Book Value per Share	[a] ÷ [b]	$	39.72		$	38.83		$	34.56



Adjusted Efficiency Ratio

*Numerator ($ millions)*		3Q 21			2Q 21			3Q 20



GAAP Noninterest Expense		$	1,002		$	1,075		$	905

Insurance Expense			(273)			(272)			(268)

Adjusted Noninterest Expense for Adjusted Efficiency Ratio	[a]	$	729		$	803		$	637

*Denominator ($ millions)*

Total Net Revenue		$	1,985		$	2,085		$	1,684

Core OID			9			9			9

Repositioning Items			52			70			—

Insurance Revenue			(297)			(359)			(346)



Adjusted Net Revenue for Adjusted Efficiency Ratio	[b]	$	1,749		$	1,805		$	1,347

Adjusted Efficiency Ratio	[a] ÷ [b]		41.7	%		44.5	%		47.3	%



Original Issue Discount Amortization Expense ($ millions)

		3Q 21			2Q 21			3Q 20



Core Original Issue Discount (Core OID) Amortization Expense		$	9		$	9		$	9

Other OID			3			3			3



GAAP Original Issue Discount Amortization Expense		$	12		$	12		$	12



Outstanding Original Issue Discount Balance ($ millions)

		3Q 21			2Q 21			3Q 20



Core Outstanding Original Issue Discount Balance (Core OID Balance)		$	(900)		$	(952)		$	(1,037)

Other Outstanding OID Balance			(29)			(32)			(48)



GAAP Outstanding Original Issue Discount Balance		$	(929)		$	(983)		$	(1,084)

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Net Financing Revenue (ex. Core OID)

*($ millions)*		3Q 21		2Q 21			3Q 20

GAAP Net Financing Revenue	[x]	$	1,594	$	1,547		$	1,200

Core OID			9		9			9

Net Financing Revenue (ex. Core OID)	[a]	$	1,603	$	1,556		$	1,209


Adjusted Other Revenue

*($ millions)*		3Q 21		2Q 21			3Q 20

GAAP Other Revenue	[y]	$	391	$	538		$	484

Accelerated OID & Repositioning Items			52		70			—

Change in Fair Value of Equity Securities			65		(19	)		(13	)

Adjusted Other Revenue	[b]	$	507	$	588		$	471


Adjusted Total Net Revenue

*($ millions)*		3Q 21		2Q 21			3Q 20

Adjusted Total Net Revenue	[a]+[b]	$	2,110	$	2,145		$	1,680




Adjusted NIE (ex. Repositioning)

*($ millions)*		3Q 21		2Q 21			3Q 20

GAAP Noninterest Expense	[z]	$	1,002	$	1,075		$	905

Repositioning			—		—			—

Adjusted NIE (ex. Repositioning)	[c]	$	1,002	$	1,075		$	905




Core Pre-Provision Net Revenue (Core PPNR)

*($ millions)*		3Q 21		2Q 21			3Q 20

Pre-Provision Net Revenue	[x]+[y]-[z]	$	983	$	1,010		$	779

Core Pre-Provision Net Revenue	[a]+[b]-[c]	$	1,108	$	1,070		$	775

Insurance Non-GAAP Walk to Core Pre-Tax Income


	3Q 2021								3Q 2020
*($ millions)*
	GAAP		Core OID		Change in the fair value of equity securities		Non-GAAP¹		GAAP		Core OID		Change in the fair value of equity securities			Non-GAAP¹

Insurance

Premiums, Service Revenue Earned and Other	$	282	$	—	$	—	$	282	$	279	$	—	$	—		$	279

Losses and Loss Adjustment Expenses		69		—		—		69		85		—		—			85

Acquisition and Underwriting Expenses		204		—		—		204		183		—		—			183

Investment Income and Other		15		—		65		80		67		—		(13	)		54

Pre-Tax Income from Continuing Operations	$	24	$	—	$	65	$	89	$	78	$	—	$	(13	)	$	65

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

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		Additional Financial Information
		Additional Financial Information

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

About Ally Financial

Ally Financial Inc. (NYSE: ALLY) is a digital financial services company committed to its promise to “Do It Right” for its consumer, commercial and corporate customers. Ally is composed of an industry-leading independent auto finance and insurance operation, an award-winning digital direct bank (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 corporate finance business for equity sponsors and middle-market companies, and securities brokerage and investment advisory services. A relentless ally for all things money, Ally helps people save well and earn well, so they can spend for what matters. For more information, please visit www.ally.com and follow @allyfinancial.

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

Forward-Looking Statements

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

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

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

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

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


Contacts:
Daniel Eller		Jillian Palash
Ally Investor Relations		Ally Communications (Media)
704-444-5216		704-644-6201
[email protected]		[email protected]

3Q 2021 Preliminary Results Exhibit 99.2 Ally Financial Inc. 3Q 2021 Earnings Review October 21, 2021 Contact Ally Investor Relations at (866) 710-4623 or [email protected] 1

3Q 2021 Preliminary Results Forward-Looking Statements and Additional Information This presentation and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based on company and third-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 future effects of COVID- 19 and our ability to navigate them, the outlook for financial and operating metrics and performance, and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2020, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent SEC filings. This 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 2021 Preliminary Results GAAP and Core Results: Quarterly ($ millions except per share data) 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 GAAP net income attributable to common shareholders (NIAC) $ 683 $ 900 $ 796 $ 687 $ 476 (1)(2) Core net income attributable to common shareholders $ 782 $ 868 $ 790 $ 606 $ 473 GAAP earnings per common share (EPS) (basic or diluted as applicable, NIAC) $ 1.89 $ 2.41 $ 2.11 $ 1.82 $ 1.26 (1)(3) $ 2.16 $ 2.33 $ 2.09 $ 1.60 $ 1.25 Adjusted EPS Return on GAAP common shareholders' equity 18.1% 24.1% 21.7% 19.1% 13.6% (1)(4) Core ROTCE 24.2% 26.7% 24.1% 18.7% 15.2% GAAP common shareholders' equity per share $ 42.81 $ 41.93 $ 39.34 $ 39.24 $ 37.78 (1)(5) $ 39.72 $ 38.83 $ 36.16 $ 36.05 $ 34.56 Adjusted tangible book value per share (Adjusted TBVPS) Efficiency ratio 50.5% 51.6% 48.7% 51.6% 53.7% (1)(6) 41.7% 44.5% 44.4% 49.8% 47.3% Adjusted efficiency ratio GAAP total net revenue $ 1,985 $ 2,085 $ 1,937 $ 1,981 $ 1,684 (1)(7) Adjusted total net revenue $ 2,110 $ 2,145 $ 1,930 $ 1,879 $ 1,680 (8) $ 983 $ 1,010 $ 994 $ 958 $ 779 Pre-provision net revenue (1)(8) $ 1,108 $ 1,070 $ 987 $ 856 $ 775 Core pre-provision net revenue Effective tax rate 21.5% 13.7% 21.0% 19.7% 24.8% (1) The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Adjusted earnings per share (Adjusted EPS), Core pre-tax income (loss), Core pre-provision net revenue (Core PPNR), Core net income (loss) attributable to common shareholders, Core return on tangible common equity (Core ROTCE), Adjusted efficiency ratio, Adjusted total net revenue, Net financing revenue (excluding Core OID), Adjusted other revenue, Adjusted noninterest expense, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), and Adjusted tangible book value per share (Adjusted TBVPS). These measures are used by management, and we believe are useful to investors in assessing the company’s operating performance and capital. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms, and Reconciliation to GAAP later in this document. (2) Core net income attributable to common shareholders is a non-GAAP financial measure. See page 30 for definition and 34 for calculation methodology. (3) Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure. See page 34 for definition and calculation methodology. (4) Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure. See page 36 for definition and calculation methodology. (5) Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure. See page 35 for definition and calculation methodology. (6) Adjusted efficiency ratio is a non-GAAP financial measure. See page 38 for definition and calculation methodology. (7) Adjusted total net revenue is a non-GAAP financial measure. See page 40 for calculation methodology. (8) Pre-provision net revenue (PPNR) and Core pre-provision net revenue (Core PPNR) are non-GAAP financial measures. See page 40 for calculation methodology. 3

3Q 2021 Preliminary Results Ally’s Culture and Priorities customers do it right Relentless focus on our dealers, culture & values consumers & commercial clients employees Ongoing prioritization of our teammates and their well-being Driving long-term, enhanced value for ALL stakeholders communities Driving meaningful and lasting change through our actions and the Ally Charitable Foundation 4

3Q 2021 Preliminary Results 3Q 2021 Highlights Focused Execution Delivering Results $ % $ % 24.2 2.11B 11.2 2.16 Core Adjusted Adjusted Total CET1 (1) (1) (1) EPS ROTCE Capital Ratio Net Revenue • Ally acquiring Fair Square Financial for $750 million (all-cash) Remain on track with FY 2021 buyback authorization of $2.0B • Scalable, customer-centric, digital-first credit card platform Announced 4Q 2021 dividend of $0.25 per share Auto & Insurance: Leading, adaptable partner, driving attractive risk-adjusted returns th • 12 straight year of dealer network growth | Consumer volume of $12.3B, highest 3Q in 15 years from record 3.3M apps (2) • 7.10% estimated retail auto originated yield and 27bps retail auto net charge-offs, reflecting solid credit performance • Insurance written premiums of $295 million, durable investment income sourced from $6.4B portfolio Ally Bank: Leading, growing, digital-bank focused on deepening customer relationships • 50 consecutive quarters of customer growth | $131.6B retail deposit balances, ↑9% YoY from existing and new customers • Ally Home®: $3.6B originations, ↑176% YoY, strong revenue-per-loan trends • Ally Invest: $16.3B net customer assets, ↑42% YoY, 503k active self-directed and managed accounts • Ally Lending: $362 million point-of-sale originations, ↑110% YoY, 2.8k merchants, ↑23% YoY • Corporate Finance: $6.6B loan portfolio, ↑12% YoY, strong syndication and origination volume trends (1) Represents a non-GAAP financial measure. See pages 34, 36, and 40 for calculation methodology and details. (2) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure. See page 31 for details. Note: Ally Bank, Member FDIC and Equal Housing Lender, offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, including savings, money market, and checking accounts, CDs, and IRAs. Additionally, we offer securities-brokerage and investment-advisory services through Ally Invest. 5

CECL Day 1 Impact: $2.7/share 3Q 2021 Preliminary Results Quarterly Core Metric Trends Adjusted Total Net Revenue & Core PPNR Adjusted Earnings Per Share & Core ROTCE (3) (3) (1) (2) ($ billions) Adj. Total Net Revenue Core Pre-Provision Net Revenue (Core PPNR) $2.33 Adj. EPS Core ROTCE $2.09 $2.16 $2.14 $2.11 $1.93 $1.88 $1.60 $1.68 $1.62 $1.62 $1.61 $1.56 $1.56 $1.54 $1.53 $1.52 $1.25 $1.01 $0.97 $0.95 26.7% $0.91 $0.92 $1.11 $1.07 24.1% 24.2% $0.80 $0.99 18.7% $0.86 $0.61 15.2% $0.78 $0.77 $0.75 13.7% 13.4% $0.74 $0.71 12.4% 12.3% $0.71 $0.68 $0.69 10.9% 11.2% $0.59 7.6% (5.4%) ($0.44) 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 (3) Represents a non-GAAP financial measure. See page 40 for calculation methodology and details. (1), (2) Represents a non-GAAP financial measure. See page 34 and 36 for calculation methodology and details. (4) Total Deposits Adjusted Tangible Book Value per Share ($ billions) $39.7 $140 $139 $139 $137 $38.8 $135 $131 $122 $8 $121 $11 $10 $119 $36.1 $36.2 $13 $116 $14 $113 $35.1 $15 $34.7 $34.6 $106 $33.7 $101 $16 $33.6 $17 $18 $32.8 $18 $18 $31.4 $17 $17 $29.9 $28.6 $132 $129 $128 $124 $121 $116 $106 $104 $101 $99 $95 $89 $85 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 3Q 18 4Q 18 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 Retail Deposits Brokered / Other Note: Other includes sweep deposits, mortgage escrow & other deposits. May not foot due to rounding. (4) Represents a non-GAAP financial measure. See page 35 for calculation methodology and details. 6

3Q 2021 Preliminary Results Strategically and Financially Attractive Acquisition • Ally’s acquisition of Fair Square advances our evolution as the leading digital consumer bank ✓ • Enhances frictionless, innovative product offerings available to our growing customer base Consumer Synergistic Aligned Checking Auto Loans & Savings & Leases ▪ Customer-centric culture ▪ Enhances relationship deepening & diversification▪ Digital-first approach Commercial Investing ▪ Tech-forward, data driven ▪ Leverages Ally’s brand, Auto Lending & Wealth funding & customer platform ▪ Disciplined risk philosophy (Launched 2016) ▪ Expands growth opportunities▪ Deep credit expertise (~$1T credit card market) →▪ Experienced leadership 10M 9M Insurance: Customers Auto Consumer Mortgage & Dealer (Launched 2016) Accretive ▪ Scalable, nimble platform Servicing & Powerful branded offerings ▪ Organic asset & customer Customer Credit Card acquisition engine Solutions (@ closing) PoS:▪ Enhances strong earnings & Corporate risk-adjusted return profile Health, Finance Home & Retail (Launched 2019) • Highly aligned customer-centric and digital-first approach in core banking product ✓ • Accretive to Ally’s attractive and structurally enhanced long-term return profile 7

3Q 2021 Preliminary Results Scalable, Digital-first Credit Card Provider % % 2016 5 80 658k $763M 74 Active Loan FairSquare Current Loan Balance Run-rate Return Founded Employees Cardholders Balances CAGR Since 2017 on Assets Customer-Centric Robust Growth Digital-DNA Data-Driven Scalable, Tech-Forward % % % Proprietary, analytics based >90 Satisfaction Customers:↑66 4-yr CAGR 100 Digital Applications Cutting-edge, cloud platform underwriting % % 55+ NPS Revenues:↑109 4-yr CAGR 90 Digital Engagement High-efficiency via Disciplined, informed 24/7 Customer Service Ongoing growth in ‘20-‘21 4.7 / 5.0 App Rating digital engagement risk based decisioning Consumer-oriented Products Outpacing Industry Trends Transaction Highlights 658K Customers Purchase Price $750 million (all-cash) Anticipated Closing By the end of 1Q‘22 $763 461K 451K Loan IRR 25%+ $573 Balances $552 291K ($millions) ~50-55bps CET1 consumed @ closing | $2B buyback program unchanged $300 99K Earnings & EPS Accretive to FY 2023 $95 2017 2018 2019 2020 2021 YTD 100-125bps Accretive (2022-2023) Core ROTCE >150bps Accretive (Medium Term) % Mid-Teens 6-8 657 $2.3k (1) Risk-Adjusted Margin Normalized NCO’s Avg. FICO Avg. Credit Line Opportunities across broadened customer base not included in model Growing digital first, customer-centric company | Attractive risk-adjusted return profile Note: Company, operational and financial information provided by Fair Square Financial and is unaudited. Headcount data as of August 31, 2021. Active cardholders, customers and loan balances as of September 30, 2021. ‘Run-rate Return on Assets’ & ‘Core ROTCE’ (for definition see page 36) represent non-GAAP measures, reflect tax-effected results, excluding deal-specific impacts including goodwill & intangibles amortization expense, integration & advisory fees. (1) Risk adjusted margin is a non-GAAP measure defined as net interest income plus non-interest income less provision expense. 8 Outlook Detail

3Q 2021 Preliminary Results 3Q 2021 Financial Results Inc / (Dec) v. $ millions; except per share data 3Q 21 2Q 21 3Q 20 2Q 21 3Q 20 (1) Net financing revenue (ex. Core OID) $ 1,603 $ 1,556 $ 1,209 $ 47 $ 394 (1) (9) (9) (9 ) 0 (0) Core OID Net financing revenue $ 1,594 $ 1,547 $ 1,200 $ 47 $ 394 (1) 507 588 471 (81) 37 Adjusted other revenue Incl. $52M charge (2) Repositioning & change in fair value of equity securities on TRUP’s debt (1 16) (5 0) 13 (66) (130) extinguishment Other revenue 391 538 484 (147) (93) Provision for credit losses 76 (32) 147 108 (71) Noninterest expense 1,002 1,075 905 (73) 97 Pre-tax income $ 907 $ 1,042 $ 632 $ (135) $ 275 Income tax expense 195 143 156 52 39 Net income from discontinued operations - 1 - (1) - Net income $ 712 $ 900 $ 476 $ (188) $ 236 Preferred stock dividends 29 - - 29 29 Net income attributable to common stockholders $ 683 $ 900 $ 476 $ (217) $ 207 GAAP EPS (diluted) $ 1.89 $ 2 .41 $ 1 .26 $ (0.53) $ 0.62 Core OID, net of tax 0 .02 0.02 0 .02 0 .00 0.00 Change in fair value of equity securities, net of tax 0.14 (0.04) (0.03) 0.18 0 .17 (3) Repositioning, discontinued ops., and other, net of tax 0.11 0 .14 - (0 .03) 0 .11 (4) - (0 .21) - 0.21 - Significant discrete tax items (5) $ 2 .16 $ 2 .33 $ 1.25 $ (0.17) $ 0.91 Adjusted EPS (1) Represents a non-GAAP financial measure. For calculation methodology see page 40. (2) See page 39 for details and calculation methodology. (3) Represents a non-GAAP financial measure. For calculation methodology see pages 34 and 39. (4) 2Q’21 effective tax rate included a $78 million release of valuation allowance on foreign tax credit carryforwards. (5) Represents a non-GAAP financial measure. For calculation methodology see page 34. 9

3Q 2021 Preliminary Results Balance Sheet and Net Interest Margin 3Q 21 2Q 21 3Q 20 ($ millions) Average Average Balance Average Balance Balance Yield Yield Yield Retail Auto Loan $ 76,557 6.62% $ 7 4,662 6.70% $ 72,999 6.56% Retail Auto Loan (ex. hedge impact) 6.84% 6.92% 6.83% Auto Lease (net of depreciation) 10,919 9.21% 10,355 11.67% 9,317 7.89% Commercial Auto 13,887 3.54% 16,332 3.60% 21,265 3.30% Corporate Finance 6,735 5.12% 6,383 5.37% 6,188 5.40% (1) 15,125 2.83% 13,179 2.80% 17,096 3.00% Mortgage (2) 728 13.86% 537 14.44% 285 17.77% Consumer Other - Ally Lending Cash and Cash Equivalents 13,055 0.14% 16,564 0.10% 20,719 0.11% Investment Securities & Other 35,532 1.76% 36,784 1.63% 32,244 2.14% Earning Assets $ 172,538 4.68% $ 1 74,796 4.69% $ 180,113 4.35% (3) Deposits $ 139,244 0.70% $ 139,382 0.77% $ 132,964 1.35% (4)(6) 9 ,787 5.19% 11,737 5.33% 12,315 5.74% Unsecured Debt Secured Debt 1,675 4.29% 2,618 4.44% 6,154 2.94% (5) 4 ,929 3.42% 5,044 2.81% 14,427 2.36% Other Borrowings (3) Funding Sources $ 155,635 1.11% $ 158,781 1.23% $ 165,860 1.82% (3) NIM (ex. Core OID) 3.68% 3.57% 2.67% NIM (as reported) 3.66% 3.55% 2.65% (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 retail, brokered, and other deposits (inclusive of sweep deposits, mortgage escrow and other deposits). (4) Represents a non-GAAP financial measure. Excludes Core OID and Core OID balance. See page 40 calculation methodology. (5) Includes FHLB borrowings, Repurchase Agreements, Demand Notes (Ally’s program was terminated & all outstanding demand notes redeemed. $2.1B were outstanding as of 12/31/2020), and Other. (6) Includes remaining trust preferred securities. 10

3Q 2021 Preliminary Results Capital Ratios and Shareholder Distributions • 3Q 2021 CET1 ratio of 11.2% Capital Ratios and Risk-Weighted Assets ($ billions) • Remain on track with 2021 full-year $2B share repurchase 14.8% 14.6% 14.6% 14.1% 14.1% program 13.1% 12.8% 12.8% 12.4% 12.1% 11.3% 11.2% 11.1% 10.6% (1) 10.4% – Ally has repurchased $1.4B of common shares year-to-date • Ally’s Board of Directors approved 4Q 2021 common dividend $140 $139 $140 $138 $139 of $0.25 per share • Following Moody’s senior upgrade in the quarter, Ally now rated investment grade by all major rating agencies 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 Risk-Weighted Assets ($B) Total Capital Ratio Tier 1 Ratio CET1 Ratio • Announced redemption of remaining legacy TRUPs in 3Q Note: For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHC’s and banks, including Ally, to delay and subsequently phase-in its impact, see page 31 for details. • Deploying ~25% of excess capital above internal target to fund strategic acquisition of Fair Square Capital Deployment Actions Dividend Per Share Outstanding Shares (# millions) 25¢ 19¢ 19¢ 19¢ 19¢ 19¢ 19¢ 17¢ 17¢ 17¢ 17¢ 484 475 467 462 452 444 15¢ 15¢ 437 433 426 417 405 400 393 384 374 373 374 374 375 372 13¢ 13¢ 363 350 12¢ 12¢ 8¢ 8¢ 8¢ 8¢ 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2016 2017 2018 2019 2020 2021 2016 2017 2018 2019 2020 2021 (1) Repurchased common shares include shares withheld to cover income taxes owed by participants related to share-based incentive plans. Excludes commissions. 11

3Q 2021 Preliminary Results Asset Quality: Key Metrics Consolidated Net Charge-Offs (NCOs) Net Charge-Off Activity ($ millions) Variance Allowance as % of Annualized NCOs Annualized NCO Rate Net Charge-Offs 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 1550% 0.98% 1500% 1450% 0.91% 1400% 0.88% 1350% Retail Auto $ 117 $ 186 $ 97 $ (5) $ 51 0.84% 1300% 0.83% 1,448% 1250% 0.78% 1200% 1150% 1100% 0.67% 0.68% Commercial Auto 4 7 - - - 1050% 1000% 950% 0.58% 0.58% 900% 850% 800% 0.48% Mortgage Finance 1 2 1 1 - 750% 700% 0.41% 0.41% 650% 0.38% 600% 550% 500% Corporate Finance - (1) 14 (4) - 691% 0.28% 450% 400% 667% 471% 350% 414% 0.19% 0.18% 300% 250% Ally Lending 2 4 8 4 5 200% 0.08% 150% 305% 100% 50% 119% 109% 0% -0.02% (1) Corp/Other (2) - (2) (2) (2) (0.02%) 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 Total $ 122 $ 198 $ 118 $ (6) $ 54 Ratios exclude loans measured at fair value and loans held-for-sale. (1) Corp/Other includes legacy Mortgage HFI portfolio. Retail Auto Delinquencies Retail Auto Net Charge-Offs (60+ DPD) 1.00% $495 $475 1.49% 1.44% $455 $435 1.38% $415 $395 0.75% $375 $355 0.66% 0.66% $335 $315 1.01% 0.58% $295 $275 0.50% $255 0.47% 0.47% $235 $271 0.76% $215 $262 $540 $253 0.38% $195 $480 $478 0.64% $175 0.32% 0.32% $428 0.53% $155 $186 $135 $350 $341 $115 $298 $95 $137 $75 0.27% $241 $117 $233 $55 $97 $35 $51 $15 0.00% -$5 -$25 (0.03%) -$45 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 -$65 -$85 ($5) -$105 -$125 Delinquent Contracts ($M) Delinquency Rate 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 30+ DPD ($M and %) Net Charge-Offs ($M) Annualized NCO Rate 3.32% 3.61% 3.19% 2.20% 2.25% 2.49% 1.43% 1.60% 1.83% $2,428 $2,616 $2,322 $1,599 $1,658 $1,834 $1,059 $ 1,218 $ 1,427 Note: Includes accruing contracts only. Days-past-due (“DPD”) Note: See page 31 for definition. 12

3Q 2021 Preliminary Results Asset Quality: Coverage and Reserves Consolidated Coverage Ratio Retail Auto Coverage Ratio ($ billions) ($ billions) Reserve - $ Reserve - % Reserve - $ Reserve - % 4.09% 4.06% 2.87% 2.85% 2.78% 2.79% 2.79% 3.95% 2.75% 3.91% 2.54% 3.80% 3.70% 3.62% 2.03% 3.34% 0.99% $3.0 $3.0 $2.9 $2.8 $2.8 $2.8 $2.8 $3.4 $3.4 $3.3 $3.2 1.49% $2.4 $3.2 $3.1 $3.1 $2.6 $1.1 $1.3 4Q 19 CECL 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 19 CECL 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 Day 1 Day 1 Coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. Coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. Consolidated QoQ Reserve Walk ($ millions) All Other Incl. Net Charge-off ∆ in Portfolio 1 2 3 3Q’21 2Q’21 Macroeconomic Activity Size Reserve Reserve ($54) 3Q’21 NCOs $96 ($74) ↑ Retail Auto, Primarily Favorable $3,126 $3,148 $54 Replenished ↑ Ally Lending, ↑ Mortgage Macroeconomic Trends 13

3Q 2021 Preliminary Results Ally Bank: Deposit & Customer Trends • Retail Deposits of $131.6 billion, up 9% YoY Total Deposits: Retail & Brokered Balances – Total deposits of $139.4 billion, up 3% YoY, representing 90% of ($ billions, EoP) Retail Brokered / Other Customer Retention Rate Ally’s overall funding Avg. Retail Portfolio Interest Rate $140 $139 $139 $137 $135 – Brokered / other deposits of $7.9 billion, reduced 44% YoY $7.9 $11.2 $9.9 $12.7 $14.1 • 2.45 million retail deposit customers, up 11% YoY 96% 96% 96% 96% 96% – Customer retention of 96% remained solid $128.4 $129.2 $131.6 $124.4 $120.8 th – Expanded customer base by 54 thousand in 3Q’21, our 50 consecutive quarter of growth 1.26% 0.97% 0.81% 0.69% 0.64% – Customer engagement and multi-product usage remains robust; 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 surpassed 500 thousand active ‘Smart Savings Tool’ users Note: Brokered / Other includes sweep deposits, mortgage escrow and other deposits. See page 31 for Customer – 71% of new customers in 3Q from millennial or younger generation Retention Rate definition. Numbers may not foot due to rounding. Multi-Product Relationship Customers Retail Deposit Customer Quarterly Growth (thousands) 2,448 54 60 83 9% 39 78 94 7% 71 30 72 100 5% 120 72 4% 57 41 59 2% 41 52 49 1,105 56 28 41 43 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2016 2017 2018 2019 2020 '21 2016 2017 2018 2019 2020 '21 Note: Multi-relationship customers represent Deposit Customers with an Ally Invest or Ally Home relationship. 14

3Q 2021 Preliminary Results Ally Bank: Leading, Growing, All-Digital Disruptor # $ 50 12+ 1 132B Largest All-Digital, Consecutive Quarters Retail Deposit Consecutive Years of Best Internet Bank (1) of Customer Growth Balances Retail Deposit Growth Direct U.S. Bank (2017-2021) Ally Bank Customers Ally Invest Deposit Customers: Serving as the ‘gateway’ to digital-first consumer products Depositors drove 71% of self-directed and managed account growth in 3Q’21 503K 2.45M 19% CAGR 16% CAGR 230K 324K Acquired: 3Q'18 2Q'20 3Q'21 2010 2016 3Q'21 2Q'16 Ally Lending Ally Home $ Depositors drove 30% of Home originations in 3Q’21 Point-of-Sale Volume: Healthcare (4Q’19), Home improvement (3Q’20), Retail (2Q’21) $3.6B $362M ~12x FY’17 111% CAGR $82M $0.3B Acquired: 3Q'20 3Q'21 Launched: 3Q'18 3Q'20 3Q'21 4Q'19 1Q'17 Sustained momentum demonstrates Ally’s brand value and strength See page 32 for footnotes. Note: Ally Bank, Member FDIC and Equal Housing Lender, offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, including savings, money- market, and checking accounts, CDs, and IRAs. Additionally, we offer securities-brokerage and investment-advisory services through Ally Invest. 15

3Q 2021 Preliminary Results Auto Finance Inc / (Dec) v. • Auto pre-tax income of $825 million in 3Q 2021, Key Financials ($ millions) 3Q 21 2Q 21 3Q 20 reflecting industry leading capabilities and well- Net financing revenue $ 1,329 $ (4) $ 227 positioned platform Total other revenue 61 - - Total net revenue 1,390 (4) 227 – Net financing revenue reflects strong retail auto trends and Provision for credit losses 53 76 ( 75) elevated off-lease vehicle gains, offsetting lower floorplan (1) Noninterest expense 512 12 43 balances Pre-tax income $ 825 $ (92) $ 259 – Continued strong credit performance resulting in historically U.S. auto earning assets (EOP) $ 101,239 $ (522) $ (3,553) low net losses Key Statistics Remarketing gains ($ millions) $ 86 $ (42) $ 16 – Earning assets of $101.2 billion, down $3.6 billion YoY and Average gain per vehicle $ 2,495 $ (1,189) $ 58 down $522 million QoQ, due to lower industry inventory levels Off-lease vehicles terminated (# units) 34,475 (293) 5 ,558 Application Volume (# thousands) 3,257 (270) 17 • Used vehicle values continue to reflect strong consumer demand and low vehicle supplies Retail Auto Trends – $86 million of remarketing gains despite elevated lessee and (3) dealer buyout activity Portfolio Yield (ex. hedge) Est. Retail Auto Originated Yield Retail Auto NCO % 7.50% • Ally delivering comprehensive products and 7.25% 7.21% 7.15% 7.10% 7.10% 7.07% innovative solutions for our dealers and customers 6.95% 6.81% 6.92% 6.90% 6.84% 6.83% 6.83% 6.77% 6.74% 6.66% 6.66% (2) – Dealer relationships surpassed 20k with a continued focus on deepening engagement 1.49% 1.44% 1.38% – Decisioned 3.3 million applications, highest third quarter 1.01% 0.76% 0.64% 0.53% volume on record 0.27% (0.03%) – Pricing and credit trends reflect disciplined underwriting and 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 ongoing investments in talent and technology capabilities See page 32 for additional footnotes. (3) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure. See page 31 for details. 16

3Q 2021 Preliminary Results Auto Finance: Agile Market Leader # # # # Leading 1 1 1 1 Bank Retail Auto Insurance Provider Prime Auto Bank Floorplan Dealer Satisfaction (1) (2) (3) (4) Lender Lender Loan Outstandings (F&I, P&C Products) J.D. Power Award Dealer Relationships & Consumer Applications Auto Balance Sheet Trends ($ billions) (5) Retail (EoP) Lease (EoP) Commercial Auto (Avg) U.S. Consumer Applications Active U.S. Dealer Relationships 3Q'21 $88.7 $86.5 20.4K $83.8 $82.9 $83.1 18.7K $11.0 $10.7 17.1K $9.5 $9.6 $9.9 15.6K $77.7 $75.8 ~13M $73.8 $73.5 $73.4 12.1M 12.4K 11.2M 10.1M 9.1M YTD'21 $22.4 $21.3 $21.3 $16.3 $13.9 3.7M 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 2010 2014 2016 2020 2021 Note: Held-for-investment (HFI) asset balances reflect the average daily balance for the quarter. Consumer Origination Mix Consumer Originations (% of $ originations) ($ billions; % of $ originations) 690 687 685 682 683 51% $12.9 55% 56% 56% $12.3 64% $10.2 $9.8 $9.1 53% 55% 13% 14% 13% 51% 14% 50% 48% 10% 36% 31% 31% 30% 26% 26% 25% 29% 27% 29% 11% 9% 9% 10% 10% 21% 20% 23% 22% 21% 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 New Retail Lease Used Nonprime % of Total Retail GM Stellantis Growth Retail Auto - Weighted average FICO See pages 31 and 32 for footnotes and definitions. 17

3Q 2021 Preliminary Results Insurance Inc / (Dec) v. • Insurance pre-tax income of $24 million and core pre-tax Key Financials ($ millions) 3Q 21 2Q 21 3Q 20 income, excluding the change in fair value of equities of Premiums, service revenue earned and other $ 282 $ (1) $ 3 $89 million in 3Q 2021 VSC Losses 33 - (1) Weather Losses 11 (4) (15) – Loss claims declined YoY driven by favorable weather losses Other Losses 25 (1) (0) Losses and loss adjustment expenses 69 (5) (16) (2) Acquisition and underwriting expenses 204 6 21 – Investment income higher YoY and QoQ reflecting realized gain Total underwriting income 9 (2) (2) activity and growth in the $6.4 billion investment portfolio (1) Investment income and other (adjusted) 80 24 26 (1) Core pre-tax income $ 89 $ 22 $ 24 (3) • Written premiums of $295 million in 3Q 2021, despite Change in fair value of equity securities (65) (85) (78) lower industry inventories and unit sales Pre-tax income $ 24 $ (63) $ ( 54) Total assets (EOP) $ 9,354 $ ( 40) $ 410 – $242 million in consumer F&I product written premiums, down 10% YoY, impacted by vehicle sales Key Statistics - Insurance Ratios 3Q 21 2Q 21 3Q 20 Loss ratio 24.4% 26.3% 30.3% Underwriting expense ratio 72.0% 70.4% 65.8% – P&C premiums of $53 million continue to be impacted by supply Combined ratio 96.4% 96.7% 96.1% chain disruptions and prevailing vehicle inventory constraints Insurance Written Premiums Insurance Investment Portfolio ($ millions) ($ billions, EOP) F&I P&C Fixed Income Securities Equity Securities Cash & Cash Equivalents and Other $357 $335 $333 $6.4 $317 $333 $6.3 $312 $301 $5.7 $295 $267 $82 $64 $64 $85 $27 $1.8 $77 $70 $1.6 $53 $1.4 $31 $1.1 $1.0 $0.6 $275 $274 $269 $269 $250 $242 $242 $3.6 $240 $236 $3.6 $3.8 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 (1) Represents a non-GAAP financial measure. See page 39 for calculation methodology and details. F&I: Finance and insurance products. P&C: Property and casualty insurance. For additional footnotes see page 32. 18

3Q 2021 Preliminary Results Corporate Finance Inc / (Dec) v. • Corporate Finance pre-tax income of $61 million, and Key Financials ($ millions) 3Q 21 2Q 21 3Q 20 core pre-tax income, excluding the change in fair value Net financing revenue $ 77 $ - $ 2 of equities, of $60 million in 3Q 2021 (1) Adjusted total other revenue 15 (19) 7 (1) Adjusted total net revenue 92 (19) 9 – Revenues reflect strong fee income, the QoQ decline in other Provision for credit losses 5 18 4 revenue was driven by elevated 2Q’21 investment gain activity (2) Noninterest expense 27 (1) 4 (1) – Strong credit performance reflects disciplined approach to Core pre-tax income $ 60 $ (36) $ 1 (3) underwriting and servicing Change in fair value of equity securities 1 2 0 Pre-tax income $ 61 $ ( 34) $ 1 • $6.6 billion HFI loans grew 7% QoQ and 12% YoY Total assets (EOP) $ 6,729 $ 483 $ 734 – Strong pipeline activity and $4.6 billion of unfunded commitments, positions Ally for ongoing portfolio expansion Key % % HFI Loans and Unfunded Commitments % 54 99.9 ~75 Portfolio Asset Based (end of period balances, $ billions) First Loans with Lending Lien interest rate floors Metrics Outstandings by Industry (as of 9/30/21) $4.6 $4.7 Lumber Wood Chemicals & $4.3 Services Other Wholesale Furnitures & Metals $4.1 Paper Printing & $3.8 1% 2% Fixtures 9% Publishing 2% 1% Other Manufactured Prod. Food And 2% Beverages Manufacturing 1% Machinery. Equip. Elect. $6.6 $6.3 $6.2 $6.0 6% $5.9 Financial Services Auto & Transportation 33% 8% Other Retail Trade 1% 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 Other Services Held-for-investment loans Unfunded Commitments 17% Health Services 18% (1) Represents a non-GAAP financial measure. See page 39 for calculation methodology and details. For additional footnotes see page 32. 19

3Q 2021 Preliminary Results Mortgage Finance Inc / (Dec) v. • Mortgage pre-tax income of $6 million in 3Q 2021 Key Financials ($ millions) 3Q 21 2Q 21 3Q 20 Net financing revenue $ 36 $ 13 $ 6 – Net financing revenue trends reflect ongoing elevated Total other revenue 19 (3) (17) prepayment activity mitigated by increased direct to consumer Total net revenue $ 55 $ 10 $ (11) lending activity Provision for credit losses 2 2 2 (1) Noninterest expense 47 2 7 – Other revenue down QoQ as origination mix shifted from HFS Pre-tax income to HFI and gain on sale margins moderated $ 6 $ 6 $ ( 20) Total assets (EOP) $ 16,328 $ 2,463 $ 825 • Direct-to-Consumer (DTC) originations of $3.6 billion in 3Q 2021, up 60% QoQ and 176% YoY Mortgage Finance HFI Portfolio 3Q 21 2Q 21 3Q 20 Net Carry Value ($ billions) $ 16.0 $ 13.6 $ 15.1 (2) – 30% of 3Q originations from Ally Bank deposit customers Wtd. Avg. LTV/CLTV 57.6% 58.8% 60.3% Refreshed FICO 776 776 776 – 69% of origination units from refinance activity, up 120% YoY Mortgage Finance DTC Originations Mortgage Finance Held-for-Investment Assets ($ billions, EOP) ($ billions) $3.6 $16.0 $15.1 $14.6 22% $13.6 $12.4 $2.2 $3.9 $3.9 $7.0 $4.8 $1.8 $3.9 36% $1.4 $1.3 78% 58% 62% $11.2 $10.7 66% $8.8 $9.0 $8.5 64% 42% 38% 34% 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 DTC - HFI DTC - HFS Bulk DTC See page 33 for footnotes 20

3Q 2021 Preliminary Results Financial Outlook Structurally more profitable company (1) Core ROTCE Progression YTD’21 Reserve Reduction 20% 20%+ Fair Square Enhanced, Sustainable +100-125bps Return & Growth Profile 15%+ 15%+ ✓ Annual expansion of PPNR and Operating Leverage discipline 12.3% 12.3% 12.0%✓ Expanding NIM (Mid/Hi 3%) 12.0% and Net Financing Revenue 10.0% 9.8% 9.8% 9.4% 9.1%✓ Expanding Other Revenue 9.1% (Mid-$400 / qtr) 7.9% ✓ Normalizing Credit Trends (2) ✓ Consistent Tax Rate (23-24%) 2014 2015 2016 2017 2018 2019 2020 2021 2022-2023 2017 2018 2019 2020 2021 2022 2014 2015 2016 2017 2018 2019 2020 2021 2022 Executing against our long-term strategic objectives (1) Represents a non-GAAP financial measure. See page 37 for details. (2) Assumes statutory U.S. Federal tax rate is unchanged at 21%. 21

3Q 2021 Preliminary Results Strategic Priorities ‘Do It Right’ Culture Leading, adaptable Auto and Insurance and Consumer digitally-based Ally Bank platforms & Commercial Lender Ongoing customer growth and relationship Savings & deepening across scalable platforms Insurance Checking Sustainable growth in evolving and expanded product offerings Servicing Efficient, disciplined risk management and & Customer Investing capital deployment Solutions Payments Long-term execution driving sustainable results PoS & Card and enhanced value Driving enhanced long-term value 22

3Q 2021 Preliminary Results Supplemental 23

3Q 2021 Preliminary Results Supplemental Results by Segment Core pre-tax income Walk Inc / (Dec) v. Segment Detail ($ millions) 3Q 21 2Q 21 3Q 20 2Q 21 3Q 20 Automotive Finance $ 825 $ 917 $ 566 $ (92) $ 259 Insurance 24 87 78 (6 3) (54) Dealer Financial Services $ 849 $ 1,004 $ 644 $ (155) $ 205 Corporate Finance 61 95 60 (3 4) 1 Mortgage Finance 6 - 26 6 (2 0) Corporate and Other (9) (57) (9 8) 48 89 $ (1 35) $ 275 Pre-tax income from continuing operations $ 907 $ 1 ,042 $ 632 (1) Core OID 9 9 9 (0 ) 0 (2) Change in fair value of equity securities 65 (19) (1 3) 84 78 (3) Repositioning and other 52 70 - (1 8) 52 (1) $ 1,032 $ 1,102 $ 628 $ (6 9) $ 405 Core pre-tax income (1) Represents a non-GAAP financial measure. See pages 39 and 40 for calculation methodology and details. See page 33 for additional footnotes. 24

3Q 2021 Preliminary Results Supplemental Funding Profile Details Funding Mix Deposit Mix Brokered / Other Retail CD MMA/OSA/Checking Deposits Secured Debt FHLB / Other Unsecured Debt 3.00% 7% 6% 8% 3% 7% 1% 8% 12% 2.50% 4% 56% 58% 12% 6% 62% 65% 67% 2.00% 6% 1.50% 90% 82% 74% 1.00% 65% 34% 33% 30% 28% 27% 0.50% 10% 9% 8% 7% 6% 0.00% 3Q 20 4Q 20 1Q 21 2Q 21 3Q21 3Q 18 3Q 19 3Q 20 3Q 21 Note: Totals may not foot due to rounding. Note: Other includes sweep deposits, mortgage escrow and other deposits. (1) Unsecured Long-Term Debt Maturities Wholesale Funding Issuance ($ billions) AART (Ally Bank - Retail Auto) AMOT (Ally Bank - Floorplan) AFIN (AFI-Retail Auto) AART-SN (Ally Bank - Lease) Principal Amount $7.9 $7.3 (2) Maturity Date Coupon Outstanding $0.8 $6.5 ($ billions) $1.8 $0.5 $4.9 2022 4.32 $1.05 $1.4 $4.0 $2.6 $3.5 2023 2.09 $2.00 $2.5 $1.3 2024 4.48 $1.45 $4.6 $3.5 $3.0 $2.4 (3) $1.8 No Deals Issued 6.81 $4.79 2025+ 2015 2016 2017 2018 2019 2020 2021 (1) Excludes retail notes and trust preferred securities; as of 9/30/2021. Term Unsecured Issuance (2) Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs. $0.0 (3) Weighted average coupon based on notional value and corresponding coupon for all unsecured bonds as of $0.0 $0.8 $2.8 $5.4 $0.9 $0.0 January 1st of the respective year. Does not reflect weighted average interest expense for the respective year. 2025+ excludes Trust Preferred securities (excluding OID/issuance costs). Note: Term ABS shown includes funding amounts (notes sold) at new issue and does not include private offerings sold later. Excludes $2.35 billion of preferred equity issued in 2021. 25

3Q 2021 Preliminary Results Supplemental Corporate and Other Inc / (Dec) v. Key Financials ($ millions) 3Q 21 2Q 21 3Q 20 • Corporate and Other activity reflects: Net financing revenue $ 138 $ 39 $ 153 Total other revenue 12 (66) (28) – Centralized asset and liability management Total net revenue $ 150 $ (27) $ 125 Provision for credit losses 16 12 (2) Noninterest expense 143 (87) 38 – Corporate allocation activities Pre-tax loss $ (9) $ 48 $ 89 (1) Core OID 9 (0) 0 – Legacy mortgage portfolio (2) Repositioning and other 52 (18) 52 (3) Change in fair value of equity securities 1 1 1 - - – Ally Invest and Ally Lending activities (1) Core pre-tax income $ 52 $ 31 $ 141 Cash & securities $ 40,692 $ (3,512) $ (5,083) • Pre-tax loss of $9 million, up $89 million YoY and $48 (4) Held-for-investment loans, net 1,436 136 ( 116) million QoQ (5) Intercompany loan (898) ( 201) (898) (5) Other 5,926 (70) 1,791 – Net financing revenue up QoQ and YoY from deposit pricing actions Total assets $ 47,156 $ (3,647) $ (4,306) – Total other revenue down QoQ and YoY driven by corporate investment gain activity at Ally Ventures in prior periods Ally Invest Details ($ millions, accounts and trades in • Total assets of $47.2 billion, down $4.3 billion YoY, driven thousands) 3Q 21 2Q 21 3Q 20 by lower cash balances Net Funded Accounts (self-directed and managed) 502.9 494.6 445.1 Average Customer Trades Per Day 40.8 48.5 58.7 Total Customer Cash Balances $ 2,175 $ 2,166 $ 1,946 Total Net Customer Assets (self-directed and managed) $ 16,290 $ 16,444 $ 11,498 Ally Financial Rating Details LT Debt ST Debt Outlook Date Ally Lending (previously HCS) 3Q 21 2Q 21 3Q 20 Gross Originations ($ millions) $ 362 $ 299 $ 172 Fitch BBB- F3 Stable 3/30/2021 Held-for-investment loans ($ millions) (EOP) $ 836 $ 640 $ 327 Portfolio yield 13.9% 14.4% 17.8% Moody's Baa3 P-3 Stable 8/27/2021 NCO % 2.8% 3.3% 3.4% S&P BBB- A-3 Stable 3/25/2021 DBRS BBB (Low) R-3 Stable 3/4/2021 Note: Ratings & Outlook as of 9/30/2021. Our borrowing costs & access to the capital markets could be negatively impacted if our credit ratings are downgraded or otherwise fail to meet investor expectations or demands. (1) Represents a non-GAAP financial measure. See page 39 and 40 for calculation methodology and details. See page 33 for additional footnotes. 26

3Q 2021 Preliminary Results Supplemental Interest Rate Risk Sensitivities (1) Net Financing Revenue Sensitivity Analysis ($ millions) 3Q 21 2Q 21 (2) (2) Change in interest rates Gradual Instantaneous Gradual Instantaneous (3) -25 bps $ (27) $ (54) $ (43) $ ( 96) +100 bps $ 70 $ 53 $ (71) $ ( 70) Stable rate environment n/m $ (29) n/m $ (27) (1) Net financing revenue impacts reflect a rolling 12-month view. See page 31 for additional details. (2) Gradual changes in interest rates are recognized over 12 months. (3) The -100bps shock has been replaced with a -25bps shock, given low interest rate environment. Model assumes OSA rate near current pricing levels in down shock scenarios. 27

3Q 2021 Preliminary Results Supplemental Deferred Tax Asset (1) (1) Deferred Tax Asset 3Q 21 2Q 21 Gross DTA Valuation Net DTA Net DTA ($ millions) Balance Allowance Balance Balance Net Operating Loss (Federal) $ 7 $ - $ 7 $ 8 Tax Credit Carryforwards 918 ( 702) 216 266 State/Local Tax Carryforwards 220 ( 103) 117 121 Other Deferred Tax Assets, net 499 - 499 476 Net Deferred Tax Asset $ 1,644 $ ( 805) $ 839 $ 871 (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) Utilization ($ millions) Net GAAP DTA Balance Disallowed DTA $871 $839 $249 $137 $77 $75 $48 $36 $20 $18 $17 $2 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 Note: 4Q19 to 1Q20 DTA build was significantly impacted by CECL adoption on 1-1-2020. 1Q21, 2Q21 and 3Q21 increase in DTA driven primarily by change in tax depreciation election. 28

3Q 2021 Preliminary Results Fair Square Credit Card Offerings Attractive, customer-centric product offerings No Surprise $0 Fraud Free Annual Benefits & Fees Liability FICO Fee Rewards e.g. No Balance Platinum $0 PPP Transfer Fees 2% Gas, Grocery, Phrmc'y Rewards $0 / $39 PPP 1% Everyw here Else Rewards+ 2% Cash Back $0 PPP Nurses & Educators Optimum 2.5% Cash Back $0 PPP Pilot launched in '21 29

3Q 2021 Preliminary Results Supplemental Notes on Non-GAAP Financial Measures The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to, and not a substitute for, GAAP measures: Adjusted Earnings per Share (Adjusted EPS), Core pre-tax income, Pre-provision net revenue (PPNR) and Core pre-provision net revenue (Core PPNR), Core net income attributable to common shareholders, Core return on tangible common equity (Core ROTCE), Adjusted efficiency ratio, Adjusted total net revenue, Adjusted other revenue, Adjusted noninterest expense, Core original issue discount (Core OID) amortization expense and Core outstanding original issue discount balance (Core OID balance), Net financing revenue (excluding Core OID), and Adjusted tangible book value per share (Adjusted TBVPS). These measures are used by management, and we believe are useful to investors in assessing the company’s operating performance and capital. For calculation methodology, refer to the Reconciliation to GAAP later in this document. 1) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, and (2) equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity (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 39 for calculation methodology and details. 2) Core pre-provision net revenue (Core PPNR) is a non-GAAP financial measure calculated by adjusting Core pre-tax income to add back 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 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. 3) Core net income attributable to common shareholders is a non-GAAP financial measure that serves as the numerator in the calculations of Adjusted EPS and Core ROTCE and that, like those measures, is believed by management to help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Core net income attributable to common shareholders adjusts GAAP net income attributable to common shareholders for discontinued operations net of tax, tax-effected Core OID expense, tax-effected repositioning and other primarily related to the extinguishment of high-cost legacy debt and strategic activities and significant other, preferred stock capital actions, significant discrete tax items and tax-effected changes in equity investments measured at fair value, as applicable for respective periods. See page 34 calculation methodology and details. 4) 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 35 for more details. 5) 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 40 calculation methodology and details. 6) 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 40 for calculation methodology and details 7) Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt. 30

3Q 2021 Preliminary Results Supplemental Notes on Other Financial Measures 8) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure determined by calculating the estimated average annualized yield for loans originated during the period. At this time there currently is no comparable GAAP financial measure for Estimated Retail Auto Originated Yield and therefore this forecasted estimate of yield at the time of origination cannot be quantitatively reconciled to comparable GAAP information. 9) 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. 10) 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. 11) 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 12) Customer retention rate is the annualized 3-month rolling average of 1 minus the monthly attrition rate; excludes escheatment. 13) Estimated impact of CECL on regulatory capital per final rule issued by U.S. banking agencies - In December 2018, the FRB and other U.S. banking agencies approved a final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, the option to phase in the day-one impact of CECL over a three-year period. In March 2020, the FRB and other U.S. banking agencies issued an interim final rule that became effective on March 31, 2020 and provided an alternative option for banks to temporarily delay the impacts of CECL, relative to the incurred loss methodology for estimating the allowance for loan losses, on regulatory capital. A final rule that was largely unchanged from the March 2020 interim final rule was issued by the FRB and other U.S. banking agencies in August 2020, and became effective in September 2020. For regulatory capital purposes, these rules permitted us to delay recognizing the estimated impact of CECL on regulatory capital until after a two-year deferral period, which for us extends through December 31, 2021. Beginning on January 1, 2022, we will be required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the five-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and plan to phase in the regulatory capital impacts of CECL based on this five-year transition period. 14) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate Other segments. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. 31

3Q 2021 Preliminary Results Supplemental Additional Notes Page – 15 | Ally Bank: Leading, Growing, All-Digital Disruptor (1) Source: FDIC, FFIEC Call Reports and Company filings of branchless banks including Marcus, Discover, American Express, Synchrony. Page – 16 | Auto Finance (1) Noninterest expense includes corporate allocations of $233 million in 3Q 2021, $218 million in 2Q 2021, and $190 million in 3Q 2020. (2) ‘Active U.S. Dealers’ defined as all dealers who utilize one or more of Ally’s products including consumer & commercial lending, SmartAuction or Commercial Services Group and excludes RV Commercial & Consumer lines of business exited in 2Q 2018. Page – 17 | 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 2021. (4) ‘#1 Dealer Satisfaction among Non-Captive Lenders with Sub-Prime Credit’ - Source: J.D. Power. (5) ‘Active U.S. Dealers’ defined as all dealers who utilize one or more of Ally’s products including consumer & commercial lending, SmartAuction or Commercial Services Group and excludes RV Commercial & Consumer lines of business exited in 2Q 2018. Page – 18 | Insurance (2) Acquisition and underwriting expenses includes corporate allocations of $22 million in 3Q 2021, $20 million in 2Q 2021, and $17 million in 3Q 2020. (3) Change in fair value of equity securities impacts the Insurance segment. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. Page – 19 | Corporate Finance (2) Noninterest expense includes corporate allocations of $10 million in 3Q 2021, $9 million in 2Q 2021, and $8 million in 3Q 2020. (3) Change in fair value of equity securities impacts the Corporate Finance segment. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. 32

3Q 2021 Preliminary Results Supplemental Additional Notes Page – 20 | Mortgage Finance (1) Noninterest expense includes corporate allocations of $24 million in 3Q 2021, $21 million in 2Q 2021, and $19 million in 3Q 2020. (2) 1st lien only. Updated home values derived using a combination of appraisals, Broker price opinion (BPOs), Automated Valuation Models (AVMs) and Metropolitan Statistical Area (MSA) level house price indices. Page – 24 | Results by Segment (2) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corp/Other segments. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. (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. Page – 26 | Corporate and Other (2) 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. (3) Change in fair value of equity securities impacts the Corporate and Other segment. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. (4) HFI legacy mortgage portfolio and HFI Ally Lending 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. 33

3Q 2021 Preliminary Results Supplemental GAAP to Core Results: Adjusted EPS - Quarterly Adjusted Earnings per Share ( Adjusted EPS ) QUARTERLY TREND 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 Numerator ($ millions) GAAP net income / (loss) attributable to common shareholders $ 683 $ 900 $ 796 $ 687 $ 476 $ 241 $ (319) $ 378 $ 381 $ 582 $ 374 $ 290 $ 374 Discontinued operations, net of tax - (1) - - - 1 - 3 - 2 1 (1) - Core OID 9 9 10 9 9 9 8 8 7 7 7 23 22 Repositioning Items 52 70 - - - 50 - - - - - - - Change in fair value of equity securities 65 (19) (17) (111) (13) (90) 185 (29) 11 (2) (70) 95 (6) Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (26) (13) 1 21 1 17 (41) 4 (4) (1) 13 (25) (3) Significant discrete tax items - (78) - - - - - - - ( 201) - - - Core net income / (loss) attributable to common shareholders [a] $ 782 $ 868 $ 790 $ 606 $ 473 $ 228 $ (166) $ 364 $ 396 $ 387 $ 325 $ 382 $ 386 Denominator Weighted-average common shares outstanding - (Diluted, thousands) [b] 361,855 373,029 377,529 378,424 377,011 375,762 375,723 383,391 392,604 399,916 405,959 414,750 424,784 Metric GAAP EPS $ 1.89 $ 2.41 $ 2.11 $ 1.82 $ 1.26 $ 0.64 $ (0.85) $ 0.99 $ 0.97 $ 1.46 $ 0.92 $ 0.70 $ 0.88 Discontinued operations, net of tax - (0.00) - - - 0 .00 - 0.01 - 0.01 0 .00 (0.00) - Core OID 0 .03 0 .02 0 .03 0.02 0.02 0 .02 0.02 0.02 0 .02 0 .02 0 .02 0 .06 0 .05 Change in fair value of equity securities 0.18 ( 0.05) (0.04) (0.29) ( 0.04) (0.24) 0.49 ( 0.08) 0 .03 ( 0.01) (0.17) 0.23 (0.01) Repositioning Items 0.14 0 .19 - - - 0 .13 - - - - - - - Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (0.07) (0.03) 0.00 0.06 0 .00 0 .05 (0.11) 0 .01 (0.01) ( 0.00) 0.03 ( 0.06) ( 0.01) Significant discrete tax items - (0.21) - - - - - - - (0.50) - - - Adjusted EPS [a] / [b] $ 2.16 $ 2.33 $ 2.09 $ 1.60 $ 1.25 $ 0.61 $ (0.44) $ 0.95 $ 1.01 $ 0.97 $ 0.80 $ 0.92 $ 0.91 Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) excludes equity fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, (5) excludes significant discrete tax items that do not relate to the operating performance of the core businesses, and adjusts for preferred stock capital actions (e.g., Series A and Series G) that have been taken by the company to normalize its capital structure, as applicable for respective periods. 34

3Q 2021 Preliminary Results Supplemental GAAP to Core Results: Adjusted TBVPS - Quarterly Adjusted Tangible Book Value per Share ( Adjusted TBVPS ) QUARTERLY TREND 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 Numerator ($ billions) GAAP shareholder's equity $ 17.3 $ 17.5 $ 14.6 $ 14.7 $ 14.1 $ 13.8 $ 13.5 $ 14.4 $ 14.5 $ 14.3 $ 13.7 $ 13.3 $ 13.1 less: Preferred equity (2.3) (2.3) - - - - - - - - - - - GAAP common shareholder's equity $ 15.0 $ 15.2 $ 14.6 $ 14.7 $ 14.1 $ 13.8 $ 13.5 $ 14.4 $ 14.5 $ 14.3 $ 13.7 $ 13.3 $ 13.1 Goodwill and identifiable intangibles, net of DTLs (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.5) (0.3) (0.3) (0.3) (0.3) (0.3) Tangible common equity 14.6 14.8 1 4.2 14.3 13.7 13.4 13.1 14.0 14.2 1 4.0 1 3.4 13.0 12.8 Tax-effected Core OID balance (assumes 21% tax rate) (0.7) (0.8) (0.8) (0.8) (0.8) (0.8) (0.8) (0.8) (0.8) (0.9) (0.9) (0.9) (0.9) Adjusted tangible book value [a] $ 13.9 $ 14.1 $ 13.4 $ 13.5 $ 12.9 $ 12.6 $ 12.2 $ 13.1 $ 13.3 $ 13.2 $ 12.6 $ 12.1 $ 11.9 Denominator Issued shares outstanding (period-end, thousands) [b] 349,599 362,639 371,805 374,674 373,857 373,837 373,155 374,332 383,523 392,775 399,761 404,900 416,591 Metric GAAP common shareholder's equity per share $ 42.8 $ 41.9 $ 39.3 $ 39.2 $ 37.8 $ 37.0 $ 36.2 $ 38.5 $ 37.7 $ 36.4 $ 34.3 $ 32.8 $ 31.4 Goodwill and identifiable intangibles, net of DTLs per share (1.1) (1.0) (1.0) (1.0) (1.0) (1.0) (1.2) (1.2) (0.7) (0.7) (0.7) (0.7) (0.7) Tangible common equity per share 41.8 4 0.9 3 8.3 3 8.2 3 6.7 35.9 35.0 3 7.3 37.0 35.7 3 3.6 32.1 30.7 Tax-effected Core OID balance (assumes 21% tax rate) per share (2.0) (2.1) (2.2) (2.2) (2.2) (2.2) (2.2) (2.2) (2.2) (2.2) (2.1) (2.1) (2.1) Adjusted tangible book value per share [a] / [b] $ 39.7 $ 38.8 $ 36.2 $ 36.1 $ 34.6 $ 33.7 $ 32.8 $ 35.1 $ 34.7 $ 33.6 $ 31.4 $ 29.9 $ 28.6 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. 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. 35

3Q 2021 Preliminary Results Supplemental GAAP to Core Results: Core ROTCE - Quarterly Core Return on Tangible Common Equity ( Core ROTCE ) QUARTERLY TREND 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 Numerator ($ millions) GAAP net income / (loss) attributable to common shareholders $ 683 $ 900 $ 796 $ 687 $ 476 $ 241 $ (319) $ 378 $ 381 $ 582 $ 374 $ 290 $ 374 Discontinued operations, net of tax - (1) - - - 1 - 3 - 2 1 (1) - Core OID 9 9 10 9 9 9 8 8 7 7 7 23 22 Repositioning Items 52 70 - - - 50 - - - - - - - Change in fair value of equity securities 65 (19) (17) ( 111) (13) (90) 185 (29) 11 (2) (70) 95 (6) Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (26) (13) 1 21 1 17 (41) 4 (4) (1) 13 (25) (3) Significant discrete tax items & other - (78) - - - - - - - (201) - - - Core net income / loss attributable to common shareholders [a] $ 782 $ 868 $ 790 $ 606 $ 473 $ 228 $ (166) $ 364 $ 396 $ 387 $ 325 $ 382 $ 386 Denominator (Average, $ billions) GAAP shareholder's equity $ 17.4 $ 16.1 $ 14.7 $ 14.4 $ 14.0 $ 13.7 $ 14.0 $ 14.4 $ 14.4 $ 14.0 $ 13.5 $ 13.2 $ 13.1 less: Preferred equity (2.3) (1.2) - - - - - - - - - - - GAAP common shareholder's equity $ 15.1 $ 14.9 $ 14.7 $ 14.4 $ 14.0 $ 13.7 $ 14.0 $ 14.4 $ 14.4 $ 14.0 $ 13.5 $ 13.2 $ 13.1 Goodwill & identifiable intangibles, net of deferred tax liabilities ( DTLs ) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.3) (0.3) (0.3) (0.3) (0.3) Tangible common equity $ 14.7 $ 14.5 $ 14.3 $ 14.0 $ 13.6 $ 13.3 $ 13.5 $ 14.1 $ 14.1 $ 13.7 $ 13.2 $ 12.9 $ 12.8 Core OID balance (0.9) (1.0) (1.0) (1.0) (1.0) (1.1) (1.1) (1.1) (1.1) (1.1) (1.1) (1.1) (1.1) Net deferred tax asset ( DTA ) (0.9) (0.6) (0.1) (0.1) (0.1) (0.2) (0.1) (0.0) (0.1) (0.1) (0.2) (0.4) (0.4) Normalized common equity [b] $ 12.9 $ 13.0 $ 13.1 $ 12.9 $ 12.4 $ 12.0 $ 12.3 $ 13.0 $ 12.9 $ 12.5 $ 11.9 $ 11.4 $ 11.2 Core Return on Tangible Common Equity [a] / [b] 24.2% 26.7% 24.1% 18.7% 15.2% 7.6% -5.4% 11.2% 12.3% 12.4% 10.9% 13.4% 13.7% Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is based on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share. (1) In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax- effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods. (2) In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA. 36

3Q 2021 Preliminary Results Supplemental GAAP to Core Results: Core ROTCE - Annual Core Return on Tangible Common Equity ( Core ROTCE ) FY 2020 FY 2019 FY 2018 FY 2017 FY 2016 FY 2015 FY 2014 Numerator ($ millions) GAAP net income / (loss) attributable to common shareholders $ 1,085 $ 1,715 $ 1,263 $ 929 $ 1,037 $ (1,282) $ 882 Discontinued operations, net of tax 1 6 - (3) 44 ( 392) ( 225) Core OID 36 29 86 71 59 59 186 Repositioning items 50 - - - 11 349 187 Change in fair value of equity securities (29) (89) 121 - - - - Tax on Core OID & change in fair value of equity securities (tax rate 21% starting in 1Q18, 35% prior) (1) 13 (43) (25) (24) ( 139) (127) Significant discrete tax items & other - ( 201) - 119 (84) 22 ( 103) Series G actions - - - - - 2,350 - Series A actions - - - - 1 22 - Core net income / (loss) attributable to common shareholders [a] $ 1,141 $ 1,472 $ 1,427 $ 1,091 $ 1,043 $ 990 $ 800 Denominator (Average, $ billions) GAAP shareholder's equity $ 14.1 $ 13.8 $ 13.4 $ 13.4 $ 13.4 $ 14.4 $ 14.8 Preferred equity - - - - (0.3) (1.0) (1.3) Goodwill & identifiable intangibles, net of deferred tax liabilities ( DTLs ) (0.4) (0.4) (0.3) (0.3) (0.2) (0.0) (0.0) Tangible common equity $ 13.7 $ 13.5 $ 13.1 $ 13.1 $ 12.9 $ 13.4 $ 13.5 Core OID balance (1.0) (1.1) (1.1) (1.2) (1.3) (1.3) (1.4) Net deferred tax asset ( DTA ) (0.1) (0.2) (0.4) (0.7) (1.2) (1.6) (1.9) Normalized common equity [b] $ 12.6 $ 12.2 $ 11.6 $ 11.2 $ 10.4 $ 10.5 $ 10.2 Core Return on Tangible Common Equity [a] / [b] 9.1% 12.0% 12.3% 9.8% 10.0% 9.4% 7.9% Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is based on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share. (1) In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax- effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods. (2) In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA. 37

3Q 2021 Preliminary Results Supplemental GAAP to Core Results: Adjusted Efficiency Ratio - Quarterly Adjusted Efficiency Ratio QUARTERLY TREND 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 Numerator ($ millions) GAAP noninterest expense $ 1,002 $ 1,075 $ 943 $ 1,023 $ 905 Rep and warrant expense - - - 0 - Insurance expense (273) ( 272) ( 253) (246) ( 268) Repositioning items - - - - - Adjusted noninterest expense for efficiency ratio [a] $ 729 $ 803 $ 690 $ 777 $ 637 Denominator ($ millions) Total net revenue $ 1,985 $ 2,085 $ 1,937 $ 1,981 $ 1,684 Core OID 9 9 10 9 9 Repositioning items 52 70 - - - Insurance revenue (297) (359) ( 394) (429) ( 346) Adjusted net revenue for the efficiency ratio [b] $ 1,749 $ 1,805 $ 1,553 $ 1,561 $ 1,347 Adjusted Efficiency Ratio [a] / [b] 41.7% 44.5% 44.4% 49.8% 47.3% Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. (1) In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Rep and warrant expense, Insurance segment expense, and repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods. (2) In the denominator, total net revenue is adjusted for Core OID and Insurance segment revenue. See page 18 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance segment. 38

3Q 2021 Preliminary Results Supplemental Non-GAAP Reconciliation – Core Income ($ millions) 3Q 21 2Q 21 3Q 20 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 $ 1,594 $ 9 $ - $ - 1,603 $ 1,547 $ 9 $ - $ - $ 1,556 $ 1,200 $ 9 $ - $ - $ 1,209 Total other revenue 391 - 65 52 507 538 - (19) 70 588 484 - (13) - 471 Provision for credit losses 76 - - - 76 (32) - - - (32) 147 - - - 147 Noninterest expense 1,002 - - - 1 ,002 1,075 - - - 1,075 905 - - - 905 Pre-tax income $ 907 $ 9 $ 65 $ 52 $ 1,032 $ 1,042 $ 9 $ (19) $ 70 $ 1,102 $ 632 $ 9 $ (13) $ - $ 628 Corporate / Other Net financing revenue $ 138 $ 9 $ - $ - $ 147 $ 99 $ 9 $ - $ - $ 108 $ (15) $ 9 $ - $ - $ (6) Total other revenue 12 - 1 52 64 78 - (1) 70 147 40 - - - 40 Provision for credit losses 16 - - - 16 4 - - - 4 18 - - - 18 Noninterest expense 143 - - - 143 230 - - - 230 105 - - - 105 Pre-tax income $ (9) $ 9 $ 1 $ 52 $ 52 $ (57) $ 9 $ (1) $ 70 $ 21 $ (98) $ 9 $ - $ - $ (89) Insurance Premiums, service revenue earned and other $ 282 $ - $ - $ - $ 282 $ 283 $ - $ - $ - $ 283 $ 279 $ - $ - $ - $ 279 Losses and loss adjustment expenses 69 - - - 69 74 - - - 74 85 - - - 85 Acquisition and underwriting expenses 204 - - - 204 198 - - - 198 183 - - - 183 Investment income and other 15 - 65 - 80 76 - (20) - 56 67 - (13) - 54 Pre-tax income $ 24 $ - $ 65 $ - $ 89 $ 87 $ - $ (20) $ - $ 67 $ 78 $ - $ (13) $ - $ 65 Corporate Finance Net financing revenue $ 77 $ - $ - $ - $ 77 $ 77 $ - $ - $ - $ 77 $ 75 $ - $ - $ - $ 75 Total other revenue 16 - ( 1) - 15 33 - 1 - 34 9 - (1) - 8 Provision for credit losses 5 - - - 5 (13) - - - (13) 1 - - - 1 Noninterest expense 27 - - - 27 28 - - - 28 23 - - - 23 Pre-tax income $ 61 $ - $ (1) $ - $ 60 $ 95 $ - $ 1 $ - $ 96 $ 60 $ - $ (1) $ - $ 59 (1) Non-GAAP line items walk to Core pre-tax income, a non-GAAP financial measure that adjusts pre-tax income. See page 30 for definitions. Note: Equity fair value adjustments related to ASU 2016-01 requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. 39

3Q 2021 Preliminary Results Supplemental Non-GAAP Reconciliations Net Financing Revenue (ex. Core OID) QUARTERLY TREND ($ millions) 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 GAAP Net Financing Revenue $ 1 ,594 $ 1,547 $ 1,372 $ 1 ,303 $ 1,200 $ 1,054 $ 1 ,146 $ 1,156 $ 1,188 $ 1 ,157 $ 1,132 $ 1,140 $ 1 ,107 Core OID 9 9 10 9 9 9 8 8 7 7 7 23 22 Net Financing Revenue (ex. Core OID) [a] $ 1 ,603 $ 1,556 $ 1 ,382 $ 1,312 $ 1 ,209 $ 1,063 $ 1,154 $ 1 ,164 $ 1,195 $ 1,164 $ 1,139 $ 1 ,163 $ 1,129 Adjusted Other Revenue QUARTERLY TREND ($ millions) 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 GAAP Other Revenue $ 391 $ 538 $ 565 $ 678 $ 484 $ 555 $ 266 $ 487 $ 413 $ 395 $ 466 $ 298 $ 398 Accelerated OID & repositioning items 52 70 - - - - - - - - - - - Change in fair value of equity securities 65 (19) (17) (111) (13) (90) 185 (29) 11 (2) (70) 95 ( 6) Adjusted Other Revenue [b] $ 507 $ 588 $ 548 $ 567 $ 471 $ 465 $ 451 $ 458 $ 424 $ 393 $ 396 $ 393 $ 392 Adjusted NIE (ex. Repositioning) QUARTERLY TREND ($ millions) 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 GAAP Noninterest Expense $ 1,002 $ 1,075 $ 943 $ 1,023 $ 905 $ 985 $ 920 $ 880 $ 838 $ 881 $ 830 $ 804 $ 807 Repositioning - - - - - (50) - - - - - - - Adjusted NIE (ex. Repositioning) [c] $ 1,002 $ 1,075 $ 943 $ 1 ,023 $ 905 $ 935 $ 920 $ 880 $ 838 $ 881 $ 830 $ 804 $ 807 Core Pre-Provision Net Revenue QUARTERLY TREND ($ millions) 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 Pre-Provision Net Revenue [x]+[y]-[z] 983 1,010 994 958 779 624 492 763 763 671 768 634 698 Core Pre-Provision Net Revenue [a]+[b]-[c] $ 1,108 $ 1 ,070 $ 987 $ 856 $ 775 $ 593 $ 686 $ 742 $ 782 $ 676 $ 705 $ 752 $ 714 Adjusted Total Net Revenue ($ millions) Adjusted Total Net Revenue [a]+[b] $ 2 ,110 $ 2 ,145 $ 1,930 $ 1 ,879 $ 1 ,680 $ 1,528 $ 1,606 $ 1,622 $ 1,620 $ 1,557 $ 1 ,535 $ 1 ,556 $ 1,521 Original issue discount amortization expense QUARTERLY TREND ($ millions) 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 (1) Core original issue discount (Core OID) amortization expense $ 9 $ 9 $ 10 $ 9 $ 9 $ 9 $ 8 $ 8 $ 7 $ 7 $ 7 $ 23 $ 22 Other OID 3 3 3 3 3 4 3 3 3 3 3 2 4 GAAP original issue discount amortization expense $ 12 $ 12 $ 12 $ 13 $ 12 $ 12 $ 11 $ 11 $ 11 $ 10 $ 10 $ 26 $ 25 Outstanding original issue discount balance QUARTERLY TREND ($ millions) 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 1Q 19 4Q 18 3Q 18 Core outstanding original issue discount balance (Core OID balance) $ (900) $ (952) $ (1,018) $ (1,027) $ ( 1,037) $ ( 1,046) $ ( 1,055) $ ( 1,063) $ (1,071) $ (1,078) $ ( 1,085) $ ( 1,092) $ (1,115) Other outstanding OID balance (29) (32) (34) (37) (48) (46) (34) (37) (40) (44) (39) (43) (46) GAAP outstanding original issue discount balance $ (929) $ (983) $ ( 1,052) $ ( 1,064) $ ( 1,084) $ ( 1,092) $ (1,089) $ (1,100) $ ( 1,111) $ (1,122) $ ( 1,125) $ ( 1,135) $ (1,161) Note: Equity fair value adjustments related to ASU 2016-01 requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. Core pre-provision net revenue (Core PPNR) is a non-GAAP financial measure calculated by adjusting Core pre-tax income to add back 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 ‘Repositioning’ is primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items. 40

Exhibit 99.3

LOGO

THIRD QUARTER 2021

FINANCIAL SUPPLEMENT

ALLY FINANCIAL INC.

FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION

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

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

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

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


3Q 2021 Preliminary Results		2


ALLY FINANCIAL INC.
TABLE OF CONTENTS


	Page(s)
Consolidated Results

Consolidated Financial Highlights		4

Consolidated Income Statement		5

Consolidated Period-End Balance Sheet		6

Consolidated Average Balance Sheet		7

Segment Detail

Segment Highlights		8

Automotive Finance		9-10

Insurance		11

Mortgage Finance		12

Corporate Finance		13

Corporate and Other		14

Credit Related Information		15-16

Supplemental Detail

Capital		17

Liquidity 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 2021 Preliminary Results		3


ALLY FINANCIAL INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS



($ in millions, shares in thousands)	QUARTERLY TRENDS										CHANGE VS.
Selected Income Statement Data	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20
Net financing revenue (excluding Core OID) ⁽¹⁾	$	1,603	$	1,556	$	1,382	$	1,312	$	1,209	$	47	$	394
Core OID		(9)		(9)		(10)		(9)		(9)		—		—
Net financing revenue (as reported)		1,594		1,547		1,372		1,303		1,200		47		394
Other revenue (adjusted) ⁽¹⁾		507		588		548		567		471		(81)		37
Change in fair value of equity securities ⁽²⁾		(65)		19		17		111		13		(84)		(78)
Repositioning ⁽²⁾		(52)		(70)		—		—		—		18		(52)
Other revenue (as reported)		391		538		565		678		484		(147)		(93)
Provision for loan losses		76		(32)		(13)		102		147		108		(71)
Total noninterest expense ⁽³⁾		1,002		1,075		943		1,023		905		(73)		97

Pre-tax income from continuing operations		907		1,042		1,007		856		632		(135)		275
Income tax expense		195		143		211		169		156		52		39
Income from discontinued operations, net of tax		—		1		—		—		—		(1)		—

Net Income		712		900		796		687		476		(188)		236
Preferred Dividends		29		—		—		—		—		29		29

Net income attributable to common shareholders	$	683	$	900	$	796	$	687	$	476	$	(217)	$	207


Core Pre-Provision Net Revenue ⁽⁴⁾	$	1,108	$	1,070	$	987	$	856	$	775	$	39	$	334

Selected Balance Sheet Data (Period-End)
Total assets	$	179,184	$	180,470	$	181,879	$	182,165	$	185,270	$	(1,286)	$	(6,086)
Consumer loans		95,052		90,649		87,391		89,202		90,160		4,403		4,892
Commercial loans		19,419		21,568		25,685		29,332		27,868		(2,149)		(8,449)
Allowance for loan losses		(3,148)		(3,126)		(3,152)		(3,283)		(3,379)		(22)		231
Deposits		139,444		139,104		139,585		137,036		134,938		340		4,506
Total equity		17,289		17,530		14,625		14,703		14,126		(241)		3,163

Common Share Count
Weighted average basic		359,179		370,412		375,229		376,081		375,658		(11,233)		(16,478)
Weighted average diluted		361,855		373,029		377,529		378,424		377,011		(11,174)		(15,156)
Issued shares outstanding (period-end)		349,599		362,639		371,805		374,674		373,857		(13,040)		(24,258)

Per Common Share Data
Earnings per share (basic)	$	1.90	$	2.43	$	2.12	$	1.83	$	1.27	$	(0.53)	$	0.63
Earnings per share (diluted)		1.89		2.41		2.11		1.82		1.26		(0.53)		0.62
Adjusted earnings per share ⁽¹⁾		2.16		2.33		2.09		1.60		1.25		(0.17)		0.91
Book value per share		42.81		41.93		39.34		39.24		37.78		0.87		5.02
Tangible book value per share ⁽⁵⁾		41.75		40.90		38.32		38.22		36.75		0.85		5.00
Adjusted tangible book value per share ⁽⁵⁾		39.72		38.83		36.16		36.05		34.56		0.89		5.16

Select Financial Ratios
Net interest margin (as reported)		3.66%		3.55%		3.16%		2.90%		2.65%
Net interest margin (ex. Core OID) ⁽¹⁾		3.68%		3.57%		3.18%		2.92%		2.67%
Cost of funds		1.12%		1.27%		1.42%		1.58%		1.86%
Cost of funds (ex. Core OID) ⁽¹⁾		1.11%		1.23%		1.38%		1.55%		1.82%
Efficiency Ratio ⁽⁶⁾		50.5%		51.6%		48.7%		51.6%		53.7%
Adjusted efficiency ratio ⁽⁶⁾		41.7%		44.5%		44.4%		49.8%		47.3%
Return on average assets		1.6%		2.0%		1.7%		1.5%		1.0%
Return on average total equity		15.7%		22.4%		21.7%		19.1%		13.6%
Return on average tangible common equity		18.6%		24.8%		22.3%		19.6%		14.0%
Core ROTCE ⁽⁷⁾		24.2%		26.7%		24.1%		18.7%		15.2%
Capital Ratios ⁽⁸⁾
Common Equity Tier 1 (CET1) capital ratio		11.2%		11.3%		11.1%		10.6%		10.4%
Tier 1 capital ratio		12.8%		13.1%		12.8%		12.4%		12.1%
Total capital ratio		14.6%		14.8%		14.6%		14.1%		14.1%
Tier 1 leverage ratio		10.0%		10.0%		9.8%		9.4%		9.0%

(1)

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

(2)

See page 25 for methodology and detail.

(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. See page 25 for methodology and detail.

(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 25.


3Q 2021 Preliminary Results		4

ALLY FINANCIAL INC.

CONSOLIDATED INCOME STATEMENT


($ in millions)	QUARTERLY TRENDS										CHANGE VS.
	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	1,619	$	1,588	$	1,582	$	1,607	$	1,602	$	31	$	17
Interest on loans held-for-sale		5		4		5		6		5		1		—
Total interest and dividends on investment securities		150		143		124		130		162		7		(12)
Interest-bearing cash		5		4		4		5		5		1		—
Other earning assets		5		4		7		10		11		1		(6)
Operating leases		393		384		370		365		360		9		33

Total financing revenue and other interest income		2,177		2,127		2,092		2,123		2,145		50		32
Interest expense
Interest on deposits		245		268		306		367		452		(23)		(207)
Interest on short-term borrowings		—		—		1		3		9		—		(9)
Interest on long-term debt		191		230		250		274		309		(39)		(118)
Interest on other		8		—		—		—		—		8		8

Total interest expense		444		498		557		644		770		(54)		(326)
Depreciation expense on operating lease assets		139		82		163		176		175		57		(36)

Net financing revenue (as reported)	$	1,594	$	1,547	$	1,372	$	1,303	$	1,200	$	47	$	394
Other revenue
Insurance premiums and service revenue earned		279		278		280		287		276		1		3
Gain on mortgage and automotive loans, net		18		19		36		75		33		(1)		(15)
Loss on extinguishment of debt		(52)		(73)		(1)		(52)		(49)		21		(3)
Other gain/loss on investments, net		24		65		123		134		64		(41)		(40)
Other income, net of losses		122		249		127		234		160		(127)		(38)

Total other revenue		391		538		565		678		484		(147)		(93)
Total net revenue		1,985		2,085		1,937		1,981		1,684		(100)		301
Provision for loan losses		76		(32)		(13)		102		147		108		(71)
Noninterest expense
Compensation and benefits expense		389		446		395		340		342		(57)		47
Insurance losses and loss adjustment expenses		69		74		63		62		85		(5)		(16)
Other operating expenses		544		555		485		621		478		(11)		66
Total noninterest expense		1,002		1,075		943		1,023		905		(73)		97
Pre-tax income from continuing operations	$	907	$	1,042	$	1,007	$	856	$	632	$	(135)	$	275
Income tax expense from continuing operations		195		143		211		169		156		52		39

Net income from continuing operations		712		899		796		687		476		(187)		236
Income / (Loss) from discontinued operations, net of tax		—		1		—		—		—		(1)		—

Net income		712		900		796		687		476		(188)		236
Preferred Dividends		29		—		—		—		—		29		29

Net Income Available to Common Shareholders	$	683	$	900	$	796	$	687	$	476	$	(217)	$	207

Core Pre-Tax Income Walk
Net financing revenue (ex. OID) ⁽¹⁾	$	1,603	$	1,556	$	1,382	$	1,312	$	1,209	$	47	$	394
Adjusted other revenue ⁽¹⁾		507		588		548		567		471		(81)		37
Provision for credit losses		76		(32)		(13)		102		147		108		(71)
Adjusted noninterest expense ⁽¹⁾		1,002		1,075		943		1,023		905		(73)		97

Core pre-tax income ⁽²⁾	$	1,032	$	1,102	$	1,000	$	754	$	628	$	(69)	$	405
Core OID		(9)		(9)		(10)		(9)		(9)		—		—
Change in the fair value of equity securities ⁽³⁾		(65)		19		17		111		13		(84)		(78)
Repositioning ⁽³⁾		(52)		(70)		—		—		—		18		(52)

Pre-tax income from continuing operations	$	907	$	1,042	$	1,007	$	856	$	632	$	(135)	$	275

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

(2) Represents a non-GAAP financial measure. See page 25 for methodology and detail.

(3) See page 25 for methodology and detail.


3Q 2021 Preliminary Results		5

ALLY FINANCIAL INC.

CONSOLIDATED PERIOD-END BALANCE SHEET


($ in millions)	QUARTERLY TRENDS										CHANGE VS.
Assets	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20
Cash and cash equivalents
Noninterest-bearing	$	636	$	653	$	747	$	724	$	719	$	(17)	$	(83)
Interest-bearing		10,279		13,011		15,031		14,897		19,220		(2,732)		(8,941)

Total cash and cash equivalents		10,915		13,664		15,778		15,621		19,939		(2,749)		(9,024)
Investment securities ⁽¹⁾		35,317		36,313		35,711		32,154		31,871		(996)		3,446
Loans held-for-sale, net		456		409		630		406		441		47		15
Finance receivables and loans, net		114,471		112,217		113,076		118,534		118,028		2,254		(3,557)
Allowance for loan losses		(3,148)		(3,126)		(3,152)		(3,283)		(3,379)		(22)		231

Total finance receivables and loans, net		111,323		109,091		109,924		115,251		114,649		2,232		(3,326)
Investment in operating leases, net		10,969		10,715		9,944		9,639		9,454		254		1,515
Premiums receivables and other insurance assets		2,752		2,773		2,725		2,679		2,662		(21)		90
Other assets		7,452		7,505		7,167		6,415		6,254		(53)		1,198

Total assets	$	179,184	$	180,470	$	181,879	$	182,165	$	185,270	$	(1,286)	$	(6,086)


Liabilities
Deposit liabilities
Noninterest-bearing	$	167	$	149	$	155	$	128	$	159	$	18	$	8
Interest-bearing		139,277		138,955		139,430		136,908		134,779		322		4,498

Total deposit liabilities		139,444		139,104		139,585		137,036		134,938		340		4,506
Short-term borrowings		—		—		—		2,136		3,032		—		(3,032)
Long-term debt		14,946		16,896		20,503		22,006		25,704		(1,950)		(10,758)
Interest payable		422		365		453		412		748		57		(326)
Unearned insurance premiums and service revenue		3,537		3,536		3,487		3,438		3,401		1		136
Accrued expense and other liabilities		3,546		3,039		3,226		2,434		3,321		507		225

Total liabilities	$	161,895	$	162,940	$	167,254	$	167,462	$	171,144	$	(1,045)	$	(9,249)

Equity
Common stock and paid-in capital ⁽²⁾	$	17,050	$	17,716	$	18,153	$	18,350	$	18,324	$	(666)	$	(1,274)
Preferred stock		2,324		2,324		—		—		—		—		2,324
Accumulated deficit		(2,136)		(2,726)		(3,555)		(4,278)		(4,893)		590		2,757
Accumulated other comprehensive income / (loss)		51		216		27		631		695		(165)		(644)

Total equity		17,289		17,530		14,625		14,703		14,126		(241)		3,163

Total liabilities and equity	$	179,184	$	180,470	$	181,879	$	182,165	$	185,270	$	(1,286)	$	(6,086)

(1) Includes held-to-maturity securities.

(2) Includes Treasury stock.


3Q 2021 Preliminary Results		6

ALLY FINANCIAL INC.

CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Assets	3Q 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21			3Q 20
Interest-bearing cash and cash equivalents	$	13,055		$	16,564		$	15,363		$	17,758		$	20,719		$	(3,509	)	$	(7,664	)
Investment securities and other earning assets		35,193			36,462			34,694			33,107			32,059			(1,269	)		3,133
Loans held-for-sale, net		464			454			570			635			472			10			(8	)
Total finance receivables and loans, net ⁽²⁾		112,907			110,961			115,665			117,422			117,546			1,946			(4,639	)
Investment in operating leases, net		10,919			10,355			9,831			9,587			9,317			564			1,602

Total interest earning assets		172,538			174,796			176,123			178,509			180,113			(2,258	)		(7,575	)
Noninterest-bearing cash and cash equivalents		526			494			531			505			536			32			(10	)
Other assets		9,328			8,978			8,502			8,112			8,137			350			1,191
Allowance for loan losses		(3,152	)		(3,172	)		(3,280	)		(3,363	)		(3,371	)		20			218

Total assets	$	179,240		$	181,096		$	181,876		$	183,763		$	185,415		$	(1,856	)	$	(6,175	)


Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	130,414		$	128,787		$	125,715		$	122,166		$	118,307		$	1,627		$	12,107
Other interest-bearing deposit liabilities ⁽³⁾		8,670			10,446			11,851			13,327			14,500			(1,776	)		(5,830	)

Total Interest-bearing deposit liabilities		139,084			139,233			137,566			135,493			132,807			(149	)		6,277
Short-term borrowings		—			—			814			2,350			3,343			—			(3,343	)
Long-term debt ⁽⁴⁾		15,487			18,411			21,173			24,103			28,512			(2,924	)		(13,025	)

Total interest-bearing liabilities ⁽⁴⁾		154,571			157,644			159,553			161,946			164,662			(3,073	)		(10,093	)
Noninterest-bearing deposit liabilities		160			149			152			149			157			11			3
Other liabilities		6,852			6,802			7,038			6,819			6,472			50			380

Total liabilities	$	161,583		$	164,595		$	166,743		$	168,914		$	171,291		$	(3,012	)	$	(9,708	)

Equity
Total equity	$	17,657		$	16,501		$	15,133		$	14,849		$	14,124		$	1,156		$	3,533

Total liabilities and equity	$	179,240		$	181,096		$	181,876		$	183,763		$	185,415		$	(1,856	)	$	(6,175	)

(1)

Average balances are calculated using an average daily balance methodology.

(2)

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

(3)

Includes brokered and other deposits (inclusive of sweep deposits and other deposits).

(4)

Includes average Core OID balance of $905 million in 3Q 2021, $989 million in 2Q 2021, $1,023 million in 1Q 2021, $1,032 million in 4Q 2020, and $1,041 million in 3Q 2020.


3Q 2021 Preliminary Results				7


ALLY FINANCIAL INC.
SEGMENT HIGHLIGHTS


($ in millions)	QUARTERLY TRENDS															CHANGE VS.

Pre-tax Income / (Loss)	3Q 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21			3Q 20

Automotive Finance	$	825		$	917		$	803		$	563		$	566		$	(92	)	$	259

Insurance		24			87			141			183			78			(63	)		(54	)


Dealer Financial Services		849			1,004			944			746			644			(155	)		205

Corporate Finance		61			95			53			64			60			(34	)		1

Mortgage Finance		6			—			23			7			26			6			(20	)

Corporate and Other ⁽¹⁾		(9	)		(57	)		(13	)		39			(98	)		48			89


Pre-tax income from continuing operations	$	907		$	1,042		$	1,007		$	856		$	632		$	(135	)	$	275

Core OID ⁽²⁾		9			9			10			9			9			—			—

Change in the fair value of equity securities ⁽³⁾		65			(19	)		(17	)		(111	)		(13	)		84			78

Repositioning ⁽⁴⁾		52			70			—			—			—			(18	)		52

Core pre-tax income ⁽⁴⁾	$	1,032		$	1,102		$	1,000		$	754		$	628		$	(69	)	$	405

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

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

(3) See page 25 for methodology and detail.

(4) Represents a non-GAAP measure. See page 25 for methodology and detail.


3Q 2021 Preliminary Results				8


ALLY FINANCIAL INC.
AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21			3Q 20

Net financing revenue

Consumer	$	1,320		$	1,288		$	1,251		$	1,261		$	1,253		$	32		$	67

Commercial		112			125			161			163			153			(13	)		(41	)

Operating leases		393			384			370			365			360			9			33

Other interest income		—			—			—			1			1			—			(1	)


Total financing revenue and other interest income		1,825			1,797			1,782			1,790			1,767			28			58

Interest expense		357			382			413			461			490			(25	)		(133	)

Depreciation expense on operating lease assets:

Depreciation expense on operating lease assets (ex. remarketing)		226			210			226			242			245			16			(19	)

Remarketing gains		86			128			64			66			70			(42	)		16


Total depreciation expense on operating lease assets		139			82			163			176			175			57			(36	)


Net financing revenue		1,329			1,333			1,206			1,153			1,102			(4	)		227

Other revenue

Total other revenue		61			61			62			56			61			—			—


Total net revenue		1,390			1,394			1,268			1,209			1,163			(4	)		227

Provision for credit losses		53			(23	)		(22	)		86			128			76			(75	)

Noninterest expense

Compensation and benefits		136			144			145			134			134			(8	)		2

Other operating expenses		376			356			342			426			335			20			41

Total noninterest expense		512			500			487			560			469			12			43

Pre-tax Income	$	825		$	917		$	803		$	563		$	566		$	(92	)	$	259


Memo: Net lease revenue

Operating lease revenue	$	393		$	384		$	370		$	365		$	360		$	9		$	33

Depreciation expense on operating lease assets (ex. remarketing)		226			210			226			242			245			16			(19	)

Remarketing gains (losses), net of repo valuation		86			128			64			66			70			(42	)		16


Total depreciation expense on operating lease assets		139			82			163			176			175			57			(36	)


Net lease revenue	$	254		$	302		$	207		$	189		$	185		$	(48	)	$	69


Balance Sheet (Period-End)

Cash, trading and investment securities	$	23		$	23		$	23		$	23		$	23		$	—		$	—

Consumer loans		77,683			75,827			73,826			73,443			73,484			1,856			4,199

Commercial loans		12,587			15,219			19,208			23,141			21,854			(2,632	)		(9,267	)

Allowance for loan losses		(2,851	)		(2,848	)		(2,867	)		(2,986	)		(3,092	)		(3	)		241


Total finance receivables and loans, net		87,419			88,198			90,167			93,598			92,246			(779	)		(4,827	)

Investment in operating leases, net		10,969			10,715			9,944			9,639			9,454			254			1,515

Other assets		1,206			1,226			1,432			1,534			1,643			(20	)		(437	)


Total assets	$	99,617		$	100,162		$	101,566		$	104,794		$	103,366		$	(545	)	$	(3,749	)


3Q 2021 Preliminary Results				9

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - KEY STATISTICS


	QUARTERLY TRENDS										CHANGE VS.
	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21			3Q 20
*U.S. Consumer Originations ⁽¹⁾($ in billions)***
Retail standard - new vehicle GM	$	0.9	$	1.2	$	1.0	$	1.1	$	1.0	$	(0.3	)	$	(0.1	)
Retail standard - new vehicle Stellantis		1.1		1.2		1.0		1.0		1.0		(0.1	)		0.1
Retail standard - new vehicle Growth		1.2		1.5		1.1		1.1		1.0		(0.3	)		0.1
Used vehicle		7.8		7.3		5.7		4.7		5.4		0.5			2.4
Lease		1.3		1.8		1.4		1.2		1.4		(0.6	)		(0.1	)
Retail subvented		0.1		0.0		0.0		0.0		0.0		0.0			0.0

Total originations	$	12.3	$	12.9	$	10.2	$	9.1	$	9.8	$	(0.7	)	$	2.5

U.S. Consumer Originations - FICO Score
Super Prime (740+)	$	2.6	$	2.8	$	2.2	$	2.1	$	2.3	$	(0.2	)	$	0.2
Prime (660-739)		4.9		5.1		4.2		3.7		3.9		(0.2	)		1.0
Prime/Near (620-659)		3.0		3.1		2.3		2.0		2.0		(0.1	)		1.0
Non Prime (540-619)		1.0		1.0		0.8		0.6		0.8		—			0.2
Sub Prime (0-539)		0.1		0.1		0.1		0.1		0.2		0.0			0.0
No FICO (Primarily CSG) ²		0.7		0.7		0.6		0.6		0.5		(0.1	)		0.1

Total originations	$	12.3	$	12.9	$	10.2	$	9.1	$	9.8	$	(0.7	)	$	2.5

U.S. Consumer Retail Originations - Average FICO
New vehicle		694		691		693		698		699		4			(5	)
Used vehicle		679		678		681		684		681		1			(2	)
Total retail originations		683		682		685		690		687		1			(4	)

U.S. Market
New light vehicle sales (SAAR - units in millions)		13.3		16.9		16.8		16.2		15.4		(3.6	)		(2.1	)
New light vehicle sales (quarterly - units in millions)		3.4		4.4		3.9		4.2		3.9		(1.0	)		(0.5	)

Dealer Engagement
Total Active Dealers³		20,353		19,650		18,986		18,716		18,658		703			1,695
Total Application Volume (000s)		3,257		3,527		3,284		2,804		3,240		(270	)		17

Ally U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings	$	7.6	$	10.0	$	13.5	$	17.3	$	16.0	$	(2.4	)	$	(8.4	)
Dealer loans and other		5.0		5.2		5.7		5.9		5.8		(0.3	)		(0.9	)

Total Commercial outstandings	$	12.6	$	15.2	$	19.2	$	23.1	$	21.9	$	(2.6	)	$	(9.3	)

U.S. Off-Lease Remarketing
Off-lease vehicles terminated - on-balance sheet (# in units)		34,475		34,768		30,488		30,480		28,917		(293	)		5,558
Average gain per vehicle	$	2,495	$	3,684	$	2,114	$	2,150	$	2,437	$	(1,189	)	$	57
Total gain / (loss) ($ in millions)	$	86	$	128	$	64	$	66	$	70	$	(42	)	$	16

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

(2) Commercial Services Group (CSG) are business customers. Average annualized credit losses of 40-45 bps on CSG loans from 2016 through 3Q21 (3) Active Dealers include those who utilize one or more of Ally’s products including consumer and commercial lending, SmartAuction or Commercial Services Group


3Q 2021 Preliminary Results				10


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


($ in millions)	QUARTERLY TRENDS										CHANGE VS.
Income Statement *(GAAP View)*	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20
Net financing revenue
Total interest and fees on finance receivables and loans⁽¹⁾	$	3	$	3	$	4	$	1	$	—	$	—	$	3
Interest and dividends on investment securities		25		26		25		26		25		(1)		—
Interest bearing cash		1		—		—		1		4		1		(3)

Total financing revenue and other interest revenue		29		29		29		28		29		—		—
Interest expense		15		14		14		20		21		1		(6)

Net financing revenue		14		15		15		8		8		(1)		6
Other revenue
Insurance premiums and service revenue earned		279		278		280		287		276		1		3
Other gain / (loss) on investments, net		1		61		98		131		59		(60)		(58)
Other income, net of losses		3		5		1		3		3		(2)		—

Total other revenue		283		344		379		421		338		(61)		(55)

Total net revenue		297		359		394		429		346		(62)		(49)
Noninterest expense
Compensation and benefits expense		23		24		22		20		21		(1)		2
Insurance losses and loss adjustment expenses		69		74		63		62		85		(5)		(16)
Other operating expenses		181		174		168		164		162		7		19

Total noninterest expense		273		272		253		246		268		1		5

Pre-tax Income	$	24	$	87	$	141	$	183	$	78	$	(63)	$	(54)

Memo: Income Statement (Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	279	$	278	$	280	$	287	$	276	$	1	$	3
Investment income (adjusted) ⁽²⁾		80		56		102		28		54		24		26
Other income		3		5		1		3		3		(2)		—

Total insurance premiums and other income		362		339		383		318		333		23		29
Expense
Insurance losses and loss adjustment expenses		69		74		63		62		85		(5)		(16)
Acquisition and underwriting expenses
Compensation and benefit expense		23		24		22		20		21		(1)		2
Insurance commission expense		142		138		136		133		130		4		12
Other expense		39		36		32		31		32		3		7

Total acquistion and underwriting expense		204		198		190		184		183		6		21

Total expense		273		272		253		246		268		1		5

Core pre-tax income ⁽²⁾		89		67		130		72		65		22		24
Change in the fair value of equity securities ⁽²⁾		(65)		20		11		111		13		(85)		(78)

Income before income tax expense	$	24	$	87	$	141	$	183	$	78	$	(63)	$	(54)

Balance Sheet (Period-End)
Cash and investment securities	$	5,503	$	5,738	$	5,706	$	5,421	$	6,006	$	(235)	$	(503)
Intercompany loans⁽¹⁾		898		697		591		830		—		201		898
Premiums receivable and other insurance assets		2,761		2,782		2,738		2,693		2,674		(21)		87
Other assets		192		177		186		193		264		15		(72)

Total assets	$	9,354	$	9,394	$	9,221	$	9,137	$	8,944	$	(40)	$	410

Key Statistics
Total written premiums and revenue ⁽³⁾	$	295	$	301	$	333	$	312	$	333	$	(6)	$	(38)
Loss ratio ⁽⁴⁾		24.4 %		26.3 %		22.4 %		21.6 %		30.3 %
Underwriting expense ratio ⁽⁵⁾		72.0 %		70.4 %		67.1 %		63.5 %		65.8 %

Combined ratio		96.4 %		96.7 %		89.5 %		85.1 %		96.1 %

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

(2) Represents a non-GAAP financial measure. See page 25 for methodology and detail.

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

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

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


3Q 2021 Preliminary Results				11

ALLY FINANCIAL INC.

MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS


($ in millions)	QUARTERLY TRENDS															CHANGE VS.

Income Statement	3Q 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21			3Q 20

Net financing revenue

Total financing revenue and other interest income	$	106		$	89		$	93		$	101		$	121		$	17		$	(15	)

Interest expense		70			66			70			81			91			4			(21	)


Net financing revenue		36			23			23			20			30			13			6

Gain on mortgage loans, net		18			19			36			33			34			(1	)		(16	)

Other income, net of losses		1			3			4			4			2			(2	)		(1	)


Total other revenue		19			22			40			37			36			(3	)		(17	)


Total net revenue		55			45			63			57			66			10			(11	)


Provision for loan losses		2			—			(4	)		3			—			2			2

Noninterest expense

Compensation and benefits expense		5			5			6			5			6			—			(1	)

Other operating expense		42			40			38			42			34			2			8


Total noninterest expense		47			45			44			47			40			2			7


Pre-tax Income	$	6		$	—		$	23		$	7		$	26		$	6		$	(20	)


Balance Sheet (Period-End)

Finance receivables and loans, net:

Consumer loans	$	16,059		$	13,629		$	12,445		$	14,632		$	15,168		$	2,430		$	891

Allowance for loan losses		(17	)		(15	)		(16	)		(21	)		(20	)		(2	)		3


Total finance receivables and loans, net		16,042			13,614			12,429			14,611			15,148			2,428			894

Other assets		286			251			494			278			355			35			(69	)


Total assets	$	16,328		$	13,865		$	12,923		$	14,889		$	15,503		$	2,463		$	825


3Q 2021 Preliminary Results				12

ALLY FINANCIAL INC.

LOGO

CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21			3Q 20

Net financing revenue

Total financing revenue and other interest income	$	86		$	86		$	80		$	89		$	84		$	—		$	2

Interest expense		9			9			9			10			9			—			—


Net financing revenue		77			77			71			79			75			—			2

Total other revenue		16			33			26			17			9			(17	)		7


Total net revenue		93			110			97			96			84			(17	)		9

Provision for loan losses		5			(13	)		13			9			1			18			4

Noninterest expense

Compensation and benefits expense		15			17			20			14			13			(2	)		2

Other operating expense		12			11			11			9			10			1			2


Total noninterest expense		27			28			31			23			23			(1	)		4


Pre-tax Income	$	61		$	95		$	53		$	64		$	60		$	(34	)	$	1


Change in the fair value of equity securities ⁽¹⁾		(1	)		1			(5	)		(1	)		(1	)		(2	)		0


Core pre-tax income ⁽²⁾	$	60		$	96		$	48		$	63		$	59		$	(36	)	$	1


Balance Sheet (Period-End)

Equity securities	$	14		$	12		$	14		$	7		$	6		$	2		$	8

Loans held for sale		215			184			229			205			207			31			8

Commercial loans		6,609			6,157			6,285			6,006			5,883			452			726

Allowance for loan losses		(183	)		(178	)		(187	)		(189	)		(180	)		(5	)		(3	)


Total finance receivables and loans, net		6,426			5,979			6,098			5,817			5,703			447			723

Other assets		74			71			80			79			79			3			(5	)


Total assets	$	6,729		$	6,246		$	6,421		$	6,108		$	5,995		$	483		$	734

(1) See page 25 for methodology and detail.

(2) Represents a non-GAAP financial measure. See page 25 for methodology and detail.


3Q 2021 Preliminary Results				13

ALLY FINANCIAL INC.

CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

LOGO


($ in millions)	QUARTERLY TRENDS															CHANGE VS.

Income Statement	3Q 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21			3Q 20

Net financing revenue

Total financing revenue and other interest income	$	131		$	126		$	108		$	115		$	144		$	5		$	(13	)


Interest expense		(7	)		27			51			72			159			(34	)		(166	)


Net financing revenue / (loss)		138			99			57			43			(15	)		39			153

Other revenue

Loss on extinguishment of debt		(52	)		(73	)		(1	)		(52	)		(49	)		21			(3	)

Other gain on investments, net		22			5			20			1			5			17			17

Gain/(loss) on mortgage and automotive loans, net		—			—			—			42			(1	)		—			1

Other income, net of losses ⁽¹⁾		42			146			39			156			85			(104	)		(43	)


Total other revenue		12			78			58			147			40			(66	)		(28	)


Total net revenue		150			177			115			190			25			(27	)		125

Provision for loan losses		16			4			—			4			18			12			(2	)

Noninterest expense

Compensation and benefits expense		210			256			202			167			168			(46	)		42

Other operating expense ⁽²⁾		(67	)		(26	)		(74	)		(20	)		(63	)		(41	)		(4	)


Total noninterest expense		143			230			128			147			105			(87	)		38


Pre-tax (loss) income	$	(9	)	$	(57	)	$	(13	)	$	39		$	(98	)	$	48		$	89


Change in the fair value of equity securities ⁽³⁾		1			(1	)		—			—			—			1			1

Core OID ⁽⁴⁾		9			9			10			9			9			—			—

Repositioning ⁽³⁾		52			70			—			—			—			(18	)		52


Core pre-tax income / (loss) ⁽⁴⁾	$	52		$	21		$	(3	)	$	48		$	(89	)	$	31		$	141


Balance Sheet (Period-End)

Cash, trading and investment securities	$	40,692		$	44,204		$	45,746		$	42,324		$	45,775		$	(3,512	)	$	(5,083	)

Loans held-for-sale		139			128			117			110			78			11			61

Consumer loans		1,310			1,193			1,120			1,127			1,508			117			(198	)

Commercial loans		223			192			192			185			131			31			92

Intercompany loans⁽⁵⁾		(898	)		(697	)		(591	)		(830	)		—			(201	)		(898	)

Allowance for loan losses		(97	)		(85	)		(82	)		(87	)		(87	)		(12	)		(10	)


Total finance receivables and loans, net		538			603			639			395			1,552			(65	)		(1,014	)

Other assets		5,787			5,868			5,246			4,408			4,057			(81	)		1,730


Total assets	$	47,156		$	50,803		$	51,748		$	47,237		$	51,462		$	(3,647	)	$	(4,306	)


Core OID Amortization Schedule ⁽⁴⁾	2021			2022			2023			2024			2025 & After


Remaining Core OID amortization expense ⁽⁶⁾	$	10		$	42		$	49		$	57		Avg = $	105/yr

(1) Includes the impact of centralized asset and liability management, 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 $290 million for 3Q21, $268 million for 2Q21, $257 million for 1Q21, $254 million for 4Q20 and $234 million for 3Q20. The receiving business segment records the allocation of corporate overhead expense within other operating expenses.

(3) See page 25 for methodology and detail.

(4) Represents a non-GAAP financial measure. See page 25 for methodology and detail.

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

(6) Forecast values reflect the completion of a two-part exercise to retire a total of $2.4B trust preferred securities. The second redemption closed in early July. The amortization schedule reflects the execution of both redemptions.


3Q 2021 Preliminary Results				14

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION


$ in millions	QUARTERLY TRENDS										CHANGE VS.

Asset Quality - Consolidated ⁽¹⁾	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20

Ending loan balance	$	114,463	$	112,209	$	113,068	$	118,526	$	118,020	$	2,254	$	(3,557)

30+ Accruing DPD	$	1,591	$	1,291	$	1,122	$	1,914	$	1,840	$	300	$	(249)

30+ Accruing DPD %		1.39%		1.15%		0.99%		1.61%		1.56%

60+ Accruing DPD	$	308	$	247	$	244	$	438	$	366	$	61	$	(58)

60+ Accruing DPD %		0.27%		0.22%		0.22%		0.37%		0.31%

Non-performing loans (NPLs)	$	1,285	$	1,283	$	1,439	$	1,522	$	1,493	$	2	$	(208)

Net charge-offs (NCOs)	$	54	$	(6)	$	118	$	198	$	122	$	60	$	(68)

Net charge-off rate ⁽²⁾		0.19%		(0.02)%		0.41%		0.67%		0.41%

Provision for loan losses	$	76	$	(32)	$	(13)	$	102	$	147	$	108	$	(71)

Allowance for loan losses (ALLL)	$	3,148	$	3,126	$	3,152	$	3,283	$	3,379	$	21	$	(231)

ALLL as % of Loans ⁽³⁾⁽⁴⁾		2.75%		2.79%		2.79%		2.78%		2.87%

ALLL as % of NPLs ⁽³⁾		245%		244%		219%		216%		226%

ALLL as % of NCOs ⁽³⁾		1448%		n/m		667%		414%		691%

US Auto Delinquencies - HFI Retail Contract $‘s

30+ Delinquent contract $	$	1,427	$	1,218	$	1,059	$	1,834	$	1,658	$	209	$	(231)
% of retail contract $ outstanding		1.83%		1.60%		1.43%		2.49%		2.25%
60+ Delinquent contract $	$	298	$	241	$	233	$	428	$	350
% of retail contract $ outstanding		0.38%		0.32%		0.32%		0.58%		0.47%

U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract $‘s

Net charge-offs	$	51	$	(5)	$	97	$	186	$	117	$	57	$	(65)
% of avg. HFI assets ⁽²⁾		0.27%		(0.03)%		0.53%		1.01%		0.64%

U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract $‘s

Net charge-offs	$	—	$	—	$	—	$	7	$	4	$	—	$	(4)
% of avg. HFI assets ⁽²⁾		(0.01)%		— %		— %		0.12%		0.07%

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

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

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

(4) Excludes $78 million of fair value adjustment for loans in hedge accounting relationships in 3Q21, $124 million in 2Q21, $173 million in 1Q21, $225 million in 4Q20 and $277 million in 3Q20.


3Q 2021 Preliminary Results		15

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION, CONTINUED


($ in millions)
Automotive Finance ⁽¹⁾	QUARTERLY TRENDS										CHANGE VS.
*Consumer*	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20

Allowance for loan losses	$	2,810	$	2,802	$	2,809	$	2,902	$	2,982	$	8	$	(172)

Total consumer loans ⁽²⁾	$	77,761	$	75,951	$	73,998	$	73,668	$	73,761	$	1,810	$	4,000

Coverage ratio ⁽³⁾		3.62%		3.70%		3.80%		3.95%		4.06%

Commercial

Allowance for loan losses	$	41	$	46	$	58	$	84	$	110	$	(5)	$	(69)

Total commercial loans	$	12,587	$	15,219	$	19,208	$	23,141	$	21,854	$	(2,632)	$	(9,267)

Coverage ratio		0.32%		0.30%		0.30%		0.36%		0.51%

Mortgage ⁽¹⁾

*Consumer*

Mortgage Finance

Allowance for loan losses	$	17	$	15	$	16	$	21	$	20	$	2	$	(3)

Total consumer loans	$	16,059	$	13,629	$	12,445	$	14,632	$	15,168	$	2,430	$	891

Coverage ratio		0.11%		0.11%		0.13%		0.15%		0.13%

Mortgage - Legacy

Allowance for loan losses	$	8	$	9	$	10	$	12	$	19	$	(1)	$	(11)

Total consumer loans	$	396	$	429	$	458	$	495	$	904	$	(33)	$	(508)

Coverage ratio		2.04%		2.16%		2.19%		2.40%		2.09%

Total Mortgage

Allowance for loan losses	$	25	$	24	$	26	$	33	$	39	$	1	$	(14)

Total consumer loans	$	16,455	$	14,058	$	12,903	$	15,127	$	16,072	$	2,397	$	383

Coverage ratio		0.15%		0.18%		0.20%		0.22%		0.24%

Consumer Other ⁽¹⁾⁽⁴⁾

Allowance for loan losses	$	86	$	72	$	69	$	73	$	67	$	14	$	19

Total consumer loans	$	828	$	632	$	482	$	399	$	319	$	196	$	509

Coverage ratio		10.34%		11.39%		14.33%		18.38%		20.93%

Corporate Finance ⁽¹⁾

Allowance for loan losses	$	183	$	178	$	187	$	189	$	180	$	5	$	3

Total commercial loans	$	6,609	$	6,157	$	6,285	$	6,006	$	5,883	$	452	$	726

Coverage ratio		2.78%		2.90%		2.98%		3.14%		3.05%

Corporate and Other ⁽¹⁾

Allowance for loan losses	$	3	$	4	$	3	$	2	$	1	$	(1)	$	2

Total commercial loans	$	223	$	192	$	192	$	185	$	131	$	31	$	92

Coverage ratio		1.36%		1.36%		1.36%		1.36%		1.13%

(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 $78 million of fair value adjustment for loans in hedge accounting relationships in 3Q21, $124 million in 2Q21, $173 million in 1Q21, $225 million in 4Q20 and $277 million in 3Q20.

(3) Excludes $78 million of fair value adjustment for loans in hedge accounting relationships in 3Q21, $124 million in 2Q21, $173 million in 1Q21, $225 million in 4Q20 and $277 million in 3Q20.

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


3Q 2021 Preliminary Results		16


ALLY FINANCIAL INC.
CAPITAL


($ in billions)	QUARTERLY TRENDS										CHANGE VS.

Capital	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20

Risk-weighted assets	$	140.0	$	138.8	$	138.8	$	139.8	$	137.6	$	1.3	$	2.4

Common Equity Tier 1 (CET1) capital ratio		11.2%		11.3%		11.1%		10.6%		10.4%

Tier 1 capital ratio		12.8%		13.1%		12.8%		12.4%		12.1%

Total capital ratio		14.6%		14.8%		14.6%		14.1%		14.1%

Tangible common equity / Tangible assets ⁽¹⁾⁽²⁾		8.2%		8.2%		7.8%		7.9%		7.4%

Tangible common equity / Risk-weighted assets ⁽¹⁾		10.4%		10.7%		10.3%		10.2%		10.0%

Shareholders’ equity	$	17.3	$	17.5	$	14.6	$	14.7	$	14.1	$	(0.2)	$	3.2

add: CECL phase-in adjustment		1.2		1.1		1.2		1.2		1.2		0.1		—

less: Certain AOCI items and other adjustments		(0.5)		(0.6)		(0.4)		(1.0)		(1.1)		0.1		0.6

Preferred equity		(2.3)		(2.3)		—		—		—		—		(2.3)


Common Equity Tier 1 capital	$	15.7	$	15.7	$	15.4	$	14.9	$	14.3	$	—	$	1.4


Common Equity Tier 1 capital	$	15.7	$	15.7	$	15.4	$	14.9	$	14.3	$	—	$	1.4

add: Preferred equity		2.3		2.3		—		—		—		—		2.3

Trust preferred securities		—		0.2		2.5		2.5		2.5		(0.2)		(2.5)

less: Other adjustments		(0.1)		(0.1)		(0.1)		(0.1)		(0.1)		—		—


Tier 1 capital	$	17.9	$	18.2	$	17.8	$	17.3	$	16.7	$	(0.3)	$	1.2


Tier 1 capital	$	17.9	$	18.2	$	17.8	$	17.3	$	16.7	$	(0.3)	$	1.2

add: Qualifying subordinated debt		0.8		0.8		0.8		0.8		1.0		—		(0.2)

Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		1.6		1.6		1.6		1.7		1.6		—		—


Total capital	$	20.4	$	20.6	$	20.2	$	19.8	$	19.3	$	(0.2)	$	1.1


Total shareholders’ equity	$	17.3	$	17.5	$	14.6	$	14.7	$	14.1	$	(0.2)	$	3.2

less: Preferred equity		(2.3)		(2.3)		—		—		—		—		(2.3)

Goodwill and intangible assets, net of deferred tax liabilities		(0.4)		(0.4)		(0.4)		(0.4)		(0.4)		—		—


Tangible common equity ⁽¹⁾	$	14.6	$	14.8	$	14.2	$	14.3	$	13.7	$	(0.2)	$	0.9


Total assets	$	179.2	$	180.5	$	181.9	$	182.2	$	185.3	$	(1.3)	$	(6.1)

less: Goodwill and intangible assets, net of deferred tax liabilities		(0.4)		(0.4)		(0.4)		(0.4)		(0.4)		—		—


Tangible assets ⁽²⁾	$	178.8	$	180.1	$	181.5	$	181.8	$	184.9	$	(1.3)	$	(6.1)

Note: Numbers may not foot due to rounding

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

(2) Represents a non-GAAP financial measure. 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 25.


3Q 2021 Preliminary Results				17


ALLY FINANCIAL INC.
LIQUIDITY AND DEPOSITS


	QUARTERLY TRENDS										CHANGE VS.
Consolidated Available Liquidity ($ in billions)	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21			3Q 20

Liquid cash and cash equivalents ⁽¹⁾	$	10.1	$	13.0	$	15.2	$	14.9	$	19.3	$	(2.8	)	$	(9.2	)

Highly liquid securities ⁽²⁾		26.7		28.4		28.0		24.8		23.5		(1.7	)		3.1

Current committed unused capacity		0.1		0.2		0.4		0.6		1.4		(0.1	)		(1.3	)


Total current available liquidity	$	36.9	$	41.6	$	43.6	$	40.3	$	44.2	$	(4.7	)	$	(7.3	)


Unsecured Long-Term Debt Maturity Profile	2021		2022		2023		2024		2025		2026 & After

Consolidated remaining maturities ⁽³⁾	$	—	$	1.1	$	2.0	$	1.5	$	2.3	$	2.5

Ally Bank Deposits

Key Deposit Statistics

Average retail CD maturity (months)		20.2		20.1		20.0		19.7		19.6		0.1			0.6

Average retail deposit rate		0.64%		0.69%		0.81%		0.97%		1.26%

End of Period Deposit Levels ($ in millions)

Retail	$	131,590	$	129,221	$	128,371	$	124,357	$	120,789	$	2,369		$	10,801

Brokered & other		7,854		9,882		11,215		12,680		14,149		(2,028	)		(6,295	)


Total deposits	$	139,444	$	139,104	$	139,585	$	137,036	$	134,937	$	340		$	4,507


Deposit Mix

Retail CD		27%		28%		30%		33%		34%

MMA/OSA/Checking		67%		65%		62%		58%		56%

Brokered		6%		7%		8%		9%		10%

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

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

(3) Excludes retail notes and trust preferred securities; as of 9/30/2021. Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs.


3Q 2021 Preliminary Results				18


ALLY FINANCIAL INC.
NET INTEREST MARGIN


($ in millions)	QUARTERLY TRENDS										CHANGE VS.
Average Balance Details	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20
Retail Auto Loans	$	76,557	$	74,662	$	73,500	$	73,401	$	72,999	$	1,895	$	3,558
Auto Lease (net of dep)		10,919		10,355		9,831		9,587		9,317		564		1,602
Dealer Floorplan		8,849		10,825		15,612		16,573		15,385		(1,975)		(6,536)
Other Dealer Loans		5,038		5,507		5,729		5,844		5,880		(469)		(842)
Corporate Finance		6,735		6,383		6,338		6,203		6,188		352		546
Mortgage⁽¹⁾		15,125		13,179		14,310		15,445		17,096		1,946		(1,971)
Consumer Other - Ally Lending⁽²⁾		728		537		444		366		285		191		443
Cash and Cash equivalents		13,055		16,564		15,363		17,758		20,719		(3,509)		(7,664)
Investment Securities and Other		35,532		36,784		34,996		33,331		32,244		(1,252)		3,289

Total Earning Assets	$	172,538	$	174,796	$	176,123	$	178,509	$	180,113	$	(2,258)	$	(7,575)
Interest Revenue		2,038		2,044		1,929		1,947		1,970		(6)		68

Unsecured Debt (ex. Core OID balance) ⁽³⁾⁽⁶⁾	$	9,787	$	11,737	$	12,910	$	12,735	$	12,315	$	(1,950)	$	(2,528)
Secured Debt		1,675		2,618		3,793		5,289		6,154		(943)		(4,479)
Deposits ⁽⁴⁾		139,244		139,382		137,718		135,642		132,964		(138)		6,280
Other Borrowings ⁽⁵⁾		4,929		5,044		6,307		9,462		14,427		(115)		(9,498)

Total Funding Sources (ex. Core OID balance) ⁽³⁾	$	155,635	$	158,781	$	160,728	$	163,128	$	165,860	$	(3,146)	$	(10,225)
Interest Expense (ex. Core OID) ⁽³⁾		435		488		547		635		761		(53)		(326)

Net Financing Revenue (ex. Core OID) ⁽³⁾	$	1,603	$	1,556	$	1,382	$	1,312	$	1,209	$	47	$	394

Net Interest Margin (yield details)
Retail Auto Loan		6.62%		6.70%		6.66%		6.57%		6.56%		(0.08)%		0.06%
Retail Auto Loan (excl. hedge impacts)		6.84%		6.92%		6.90%		6.83%		6.83%		(0.08)%		0.01%
Auto Lease (net of dep)		9.21%		11.67%		8.57%		7.82%		7.89%		(2.46)%		1.32%
Dealer Floorplan		3.18%		3.31%		3.17%		3.07%		3.02%		(0.12)%		0.16%
Other Dealer Loans		4.16%		4.18%		4.36%		4.11%		4.04%		(0.02)%		0.12%
Corporate Finance		5.12%		5.37%		5.14%		5.69%		5.40%		(0.25)%		(0.28)%
Mortgage		2.83%		2.80%		2.74%		2.74%		3.00%		0.03%		(0.17)%
Consumer Other - Ally Lending⁽²⁾		13.86%		14.44%		14.95%		16.68%		17.77%		(0.58)%		(3.91)%
Cash and Cash Equivalents		0.14%		0.10%		0.10%		0.10%		0.11%		0.04%		0.04%
Investment Securities and Other		1.76%		1.63%		1.55%		1.70%		2.14%		0.13%		(0.38)%

Total Earning Assets		4.68%		4.69%		4.44%		4.34%		4.35%		(0.01)%		0.33%

Unsecured Debt (ex. Core OID & Core OID balance) ⁽³⁾⁽⁶⁾		5.19%		5.33%		5.42%		5.45%		5.74%		(0.14)%		(0.55)%
Secured Debt		4.29%		4.44%		3.35%		3.07%		2.94%		(0.15)%		1.35%
Deposits ⁽⁴⁾		0.70%		0.77%		0.90%		1.08%		1.35%		(0.07)%		(0.65)%
Other Borrowings⁽⁵⁾		3.42%		2.81%		2.47%		2.18%		2.36%		0.61%		1.06%

Total Funding Sources (ex. Core OID & Core OID balance) ⁽³⁾		1.11%		1.23%		1.38%		1.55%		1.82%		(0.12)%		(0.71)%

NIM (as reported)		3.66%		3.55%		3.16%		2.90%		2.65%		0.11%		1.01%
NIM (ex. Core OID & Core OID balance) ⁽³⁾		3.68%		3.57%		3.18%		2.92%		2.67%		0.11%		1.01%

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

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

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

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

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

(6) Includes trust preferred securities.


3Q 2021 Preliminary Results				19

ALLY FINANCIAL INC.

ALLY BANK CONSUMER MORTGAGE HFI PORTFOLIOS (PERIOD-END)


($ in billions)	QUARTERLY TRENDS

Mortgage Finance HFI Portfolio	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20

Loan Value

Gross carry value	$	16.1	$	13.6	$	12.4	$	14.6	$	15.2

Net carry value	$	16.0	$	13.6	$	12.4	$	14.6	$	15.1

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⁾		1.1%		0.8%		0.8%		0.8%		1.3%

% Low/No documentation		0.1%		0.1%		0.2%		0.2%		0.2%

% Non-primary residence		4.3%		4.9%		4.9%		4.8%		4.7%

Refreshed FICO⁽³⁾		776		776		775		776		776

Wtd. Avg. LTV/CLTV ⁽⁴⁾		57.6%		58.8%		57.5%		60.1%		60.3%

Corporate Other Legacy Mortgage HFI Portfolio Loan Value

Gross carry value	$	0.4	$	0.4	$	0.5	$	0.5	$	0.9

Net carry value	$	0.4	$	0.4	$	0.4	$	0.5	$	0.9

Estimated Pool Characteristics

% Second lien		15.6%		16.5%		18.0%		19.8%		12.6%

% Interest only		0.2%		0.1%		0.1%		0.1%		0.1%

% 30+ Day delinquent⁽¹⁾⁽²⁾		8.1%		6.3%		7.0%		7.1%		4.7%

% Low/No documentation		23.3%		23.1%		22.5%		22.2%		24.0%

% Non-primary residence		3.6%		3.2%		3.7%		3.6%		7.1%

Refreshed FICO⁽³⁾		735		734		731		733		733

Wtd. Avg. LTV/CLTV ⁽⁴⁾		55.6%		61.0%		62.2%		62.8%		59.2%

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 2021 Preliminary Results		20

ALLY FINANCIAL INC.

EARNINGS PER SHARE RELATED INFORMATION


($ in millions, shares in thousands)		QUARTERLY TRENDS															CHANGE VS.
Earnings Per Share Data		3Q 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21			3Q 20
GAAP net income attributable to common shareholders		$	683		$	900		$	796		$	687		$	476		$	(217	)	$	207
Weighted-average common shares outstanding - basic			359,179			370,412			375,229			376,081			375,658			(11,233	)		(16,478	)
Weighted-average common shares outstanding - diluted			361,855			373,029			377,529			378,424			377,011			(11,174	)		(15,156	)
Issued shares outstanding (period-end)			349,599			362,639			371,805			374,674			373,857			(13,040	)		(24,258	)

Net income per share - basic		$	1.90		$	2.43		$	2.12		$	1.83		$	1.27		$	(0.53	)	$	0.63

Net income per share - diluted		$	1.89		$	2.41		$	2.11		$	1.82		$	1.26		$	(0.53	)	$	0.62

Adjusted Earnings per Share (“Adjusted EPS”)
Numerator
GAAP net income attributable to common shareholders		$	683		$	900		$	796		$	687		$	476		$	(217	)	$	207
Discontinued operations, net of tax			—			(1	)		—			—			—			1			—
Core OID			9			9			10			9			9			(0	)		—
Change in the fair value of equity securities			65			(19	)		(17	)		(111	)		(13	)		84			78
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)			(26	)		(13	)		1			21			1			(13	)		(27	)
Repositioning			52			70			—			—			—			(18	)		52
Significant discrete tax items			—			(78	)		—			—			—			78			—

Core net income attributable to common shareholders ⁽¹⁾		$	782		$	868		$	790		$	606		$	473		$	(86	)	$	309
Denominator
Weighted-average common shares outstanding - diluted			361,855			373,029			377,529			378,424			377,011			(11,174	)		(15,156	)
Adjusted EPS ⁽³⁾		$	2.16		$	2.33		$	2.09		$	1.60		$	1.25		$	(0.17	)	$	0.91

Original Issue Discount Amortization Expense
Core original issue discount (Core OID) amortization expense ⁽¹⁾		$	9		$	9		$	10		$	9		$	9		$	—		$	—
Other OID			3			3			3			3			3			—			—

GAAP original issue discount amortization expense		$	12		$	12		$	12		$	13		$	12		$	—		$	—

Outstanding Original Issue Discount Balance
Core outstanding original issue discount balance (Core OID balance) ⁽¹⁾		$	(900	)	$	(952	)	$	(1,018	)	$	(1,027	)	$	(1,037	)	$	51		$	137
Other outstanding OID balance			(29	)		(32	)		(34	)		(37	)		(48	)		3			19

GAAP outstanding original issue discount balance		$	(929	)	$	(983	)	$	(1,052	)	$	(1,064	)	$	(1,084	)	$	54		$	155

Net Financing Revenue (ex. Core OID)
GAAP net financing revenue	[A]	$	1,594		$	1,547		$	1,372		$	1,303		$	1,200		$	47		$	394
Core OID			9			9			10			9			9			—			—

Net Financing Revenue (ex. Core OID)	[B]	$	1,603		$	1,556		$	1,382		$	1,312		$	1,209		$	47		$	394

Adjusted Other Revenue
GAAP Other Revenue	[C]	$	391		$	538		$	565		$	678		$	484		$	(147	)	$	(93	)
Repositioning			52			70			—			—			—			(18	)		52
Change in the fair value of equity securities			65			(19	)		(17	)		(111	)		(13	)		84			78

Adjusted Other Revenue	[D]	$	507		$	588		$	548		$	567		$	471		$	(81	)	$	37

Adjusted Noninterest Expense
GAAP Noninterest expense	[E]	$	1,002		$	1,075		$	943		$	1,023		$	905		$	(73	)	$	97
Adjusted Noninterest Expense	[F]	$	1,002		$	1,075		$	943		$	1,023		$	905		$	(73	)	$	97

Core Pre-Provision Net Revenue (PPNR)
Pre-Provision Net Revenue (PPNR)	[A]+[C]+[E]	$	983		$	1,010		$	994		$	958		$	779		$	(27	)	$	204
Core Pre-Provision Net Revenue (PPNR) ⁽¹⁾	[B]+[D]+[F]	$	1,108		$	1,070		$	987		$	856		$	775		$	39		$	334

(1) Represents a non-GAAP financial measure. See page 25 for definitions.

(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) excludes equity fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, and (5) excludes significant discrete tax items that do not relate to the operating performance of the core businesses, and adjusts for preferred stock capital actions (e.g., Series A and Series G) that have been taken by the company to normalize its capital structure, as applicable for respective periods.


3Q 2021 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 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21			3Q 20

Numerator

GAAP shareholder’s equity	$	17,289		$	17,530		$	14,625		$	14,703		$	14,126		$	(241	)	$	3,163

Preferred equity		(2,324	)		(2,324	)		—			—			—			—			(2,324	)

GAAP common shareholder’s equity	$	14,965		$	15,206		$	14,625		$	14,703		$	14,126		$	(241	)	$	839

Goodwill and identifiable intangibles, net of DTLs		(369	)		(374	)		(378	)		(383	)		(387	)		4			18


Tangible common equity ⁽¹⁾		14,596			14,832			14,247			14,320			13,739			(237	)		857

Tax-effected Core OID balance (21% tax rate) ⁽¹⁾		(711	)		(752	)		(804	)		(812	)		(819	)		41			108

Adjusted tangible book value ⁽²⁾	$	13,885		$	14,081		$	13,443		$	13,509		$	12,920		$	(196	)	$	965


Denominator

Issued shares outstanding (period-end, thousands)		349,599			362,639			371,805			374,674			373,857			(13,040	)		(24,258	)

GAAP shareholder’s equity per share	$	49.45		$	48.34		$	39.34		$	39.24		$	37.78		$	1.11		$	11.67

Preferred equity per share		(6.65	)		(6.41	)		—			—			—			(0.24	)		(6.65	)

GAAP common shareholder’s equity per share	$	42.81		$	41.93		$	39.34		$	39.24		$	37.78		$	0.87		$	5.02

Goodwill and identifiable intangibles, net of DTLs per share		(1.06	)		(1.03	)		(1.02	)		(1.02	)		(1.03	)		(0.03	)		(0.02	)


Tangible common equity per share ⁽¹⁾		41.75			40.90			38.32			38.22			36.75			0.85			5.00

Tax-effected Core OID balance (21% tax rate) per share ⁽¹⁾		(2.03	)		(2.07	)		(2.16	)		(2.17	)		(2.19	)		0.04			0.16


Adjusted tangible book value per share ⁽²⁾	$	39.72		$	38.83		$	36.16		$	36.05		$	34.56		$	0.89		$	5.16

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

(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 2021 Preliminary Results		22

ALLY FINANCIAL INC.

CORE ROTCE RELATED INFORMATION


($ in millions) unless noted otherwise	QUARTERLY TRENDS															CHANGE VS.

Core Return on Tangible Common Equity (“Core ROTCE”)	3Q 21			2Q 21			1Q 21			4Q 20			3Q 20			2Q 21		3Q 20

Numerator

GAAP net income attributable to common shareholders	$	683		$	900		$	796		$	687		$	476		$	(217)	$	207

Discontinued operations, net of tax		—			(1)			—			—			—			1		—

Core OID		9			9			10			9			9			—		—

Change in the fair value of equity securities		65			(19)			(17)			(111)			(13)			84		78

Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)		(26)			(13)			1			21			1			(13)		(27)

Repositioning		52			70			—			—			—			(18)		52

Significant discrete tax items		—			(78)			—			—			—			78		—


Core net income attributable to common shareholders ⁽¹⁾	$	782		$	868		$	790		$	606		$	473		$	(86)	$	309

Denominator (average, $ millions)

GAAP shareholder’s equity	$	17,410		$	16,078		$	14,664		$	14,415		$	13,976		$	1,332	$	3,434

Preferred equity		(2,324)			(1,162)			—			—			—			(1,162)		(2,324)

Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(371)			(376)			(380)			(385)			(389)			5		18


Tangible common equity ⁽¹⁾	$	14,714		$	14,540		$	14,284		$	14,030		$	13,587		$	175	$	1,127

Core OID balance		(926)			(985)			(1,023)			(1,032)			(1,041)			59		116

Net deferred tax asset (“DTA”)		(866)			(571)			(136)			(50)			(118)			(295)		(748)


Normalized common equity	$	12,923		$	12,984		$	13,125		$	12,947		$	12,427		$	(61)	$	495

Core Return on Tangible Common Equity ⁽²⁾		24.2	%		26.7	%		24.1	%		18.7	%		15.2	%

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

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

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

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


3Q 2021 Preliminary Results		23

ALLY FINANCIAL INC.

ADJUSTED EFFICIENCY RATIO RELATED INFORMATION


($ in millions)	QUARTERLY TREND										CHANGE VS.

Adjusted Efficiency Ratio Calculation	3Q 21		2Q 21		1Q 21		4Q 20		3Q 20		2Q 21		3Q 20

Numerator

GAAP Noninterest expense	$	1,002	$	1,075	$	943	$	1,023	$	905	$	(73)	$	97

Rep and warrant expense		—		—		—		0		—		—		—

Insurance expense		(273)		(272)		(253)		(246)		(268)		(1)		(5)

Adjusted noninterest expense for the efficiency ratio	$	729	$	803	$	690	$	777	$	637	$	(74)	$	92

Denominator
Total net revenue	$	1,985	$	2,085	$	1,937	$	1,981	$	1,684	$	(100)	$	301

Core OID		9		9		10		9		9		—		—

Insurance revenue		(297)		(359)		(394)		(429)		(346)		62		49

Repositioning		52		70		—		—		—		(18)		52


Adjusted net revenue for the efficiency ratio	$	1,749	$	1,805	$	1,553	$	1,561	$	1,347	$	(56)	$	402

Adjusted Efficiency Ratio ⁽¹⁾		41.7%		44.5%		44.4%		49.8%		47.3%

(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.


3Q 2021 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: Adjusted Earnings per Share (Adjusted EPS), Core pre tax income, Core net income attributable to common shareholders, Core return on tangible common equity (Core ROTCE), Adjusted efficiency ratio, Adjusted total net revenue, Adjusted other revenue, Adjusted noninterest expense, Core original issue discount (Core OID) amortization expense and Core outstanding original issue discount balance (Core OID balance), Net financing revenue (excluding Core OID), and Adjusted tangible book value per share (Adjusted TBVPS). These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital. For calculation methodology, refer to the Reconciliation to GAAP later in this document.

1) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, and (2) equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity (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 5 for calculation methodology and details.

2) Core net income attributable to common shareholders is a non-GAAP financial measure that serves as the numerator in the calculations of Adjusted EPS and Core ROTCE and that, like those measures, is believed by management to help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Core net income attributable to common shareholders adjusts GAAP net income attributable to common shareholders for discontinued operations net of tax, tax-effected Core OID expense, tax-effected repositioning and other primarily related to the extinguishment of high-cost legacy debt and strategic activities and significant other, preferred stock capital actions, significant discrete tax items and tax-effected changes in equity investments measured at fair value, as applicable for respective periods. See page 21 calculation methodology and details.

3) Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Ally believes that tangible common equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core return on tangible common equity (Core ROTCE), tangible common equity is further adjusted for Core OID balance and net deferred tax asset. See page 22 for more details.

4) Core original issue discount (Core OID) amortization expense is a non-GAAP financial measure for OID and is believed by management to help the reader better understand the activity removed from: Core pre-tax income (loss), Core net income (loss) attributable to common shareholders, Adjusted EPS, Core ROTCE, Adjusted efficiency ratio, Adjusted total net revenue, and Net financing revenue (excluding Core OID). Core OID is primarily related to bond exchange OID which excludes international operations and future issuances. Core OID for all periods shown is applied to the pre-tax income of the Corporate and Other segment. See page 21 calculation methodology and details.

5) Core outstanding original issue discount balance (Core OID balance) is a non-GAAP financial measure for outstanding OID and is believed by management to help the reader better understand the balance removed from Core ROTCE and Adjusted TBVPS. Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. See page 21 for calculation methodology and details

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

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

8) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity.

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

10) Core pre-provision net revenue (Core PPNR) is a non-GAAP financial measure calculated by adjusting Core pre-tax income to add back provision for credit losses. Management believes that Core PPNR is a helpful financial metric because it enables the reader to assess the core businesses ability to generate earnings to cover credit losses and is utilized by the 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 21 for calculation detail.


3Q 2021 Preliminary Results		25

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Form 8-K Ally Financial Inc. For: Oct 21

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