Form 8-K Ally Financial Inc. For: Jul 19

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Form 8-K Ally Financial Inc. For: Jul 19

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July 19, 2022 7:46 AM

Exhibit 99.1

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News release: IMMEDIATE RELEASE

Ally Financial Reports Second Quarter 2022 Financial Results

$1.40

GAAP EPS

14.7%

RETURN ON COMMON EQUITY

$634 million

PRE-TAX INCOME

$2.08 billion

GAAP TOTAL NET REVENUE

$1.76

ADJUSTED EPS¹

23.2%

CORE ROTCE¹

$780 million

CORE PRE-TAX INCOME¹

$2.22 billion

ADJUSTED TOTAL NET REVENUE ¹


				• Established leader in dealer financial services offering comprehensive suite of auto finance and insurance products
				– Consumer auto originations of $13.3 billion, from 3.3 million decisioned applications \| Highest quarterly originations since 2006
				– 7.8% Estimated Retail Auto Originated Yield1 \| 54 bps of retail net charge-offs, reflecting strength in credit and used values
				– Insurance written premiums of $262 million \| $5.8 billion investment management portfolio
				• Leading, digital-first Ally Bank platform generating strong growth across consumer and commercial product suite
				– Retail balances of $131.2 billion, down 4% quarter over quarter (QoQ) driven by elevated tax outflows; up 1% YoY
				– Retail deposit customers of 2.5 million, up 6% year over year (YoY), grew for the 53rd consecutive quarter
				– Ally Home^® direct-to-consumer mortgage originations of $0.9 billion \| Lower originations reflecting higher interest rate environment
				– Ally Invest net customer assets of $13.5 billion, down 18% YoY due to market trends \| 518K active accounts, up 5% YoY
				– Ally Lending gross originations of $591 million, up 98% YoY \| 382K active borrowers, up 78% YoY and 3.2K merchants, up 26% YoY
				– Ally Credit Card balances of $1.2 billion, up 93% YoY2 \| 908K active cardholders, up 58% YoY²
				– Corporate Finance held-for-investment portfolio of $8.5 billion, up 38% YoY \| Deep expertise, disciplined risk management
				• Preliminary Stress Capital Buffer of 250 basis points based on CCAR 2022 results \| Declined 100 bps versus CCAR 2020
				• Announced 3Q 2022 common dividend of $0.30 per share \| Completed $600 million of share repurchases in the second quarter

		“Despite macro headwinds and market uncertainty, Ally delivered strong operational results again this quarter, including net financing revenues growing for the eighth consecutive quarter and net interest margin exceeding four percent for the first time in company history. Our teams remain focused on controlling what we can control – primarily taking care of our customers across all our businesses. Our scale and ability to adapt to changing conditions allowed Ally to generate the strongest quarter of retail auto originations in sixteen years while increasing expected risk-adjusted yields. Newer businesses like Ally Credit Card are steadily growing and helping offset more cyclical businesses, like Ally Home,” said Ally Chief Executive Officer Jeffrey Brown.
		“We continue to closely monitor changes in the environment and remain nimble. The investments we’ve made in our underwriting and servicing operations, including adding teammates and enhancing technology, continues to give us confidence in our performance, despite the potential for recessionary conditions. Broadly speaking, we have fine-tuned our expense focus even further to ensure we remain well positioned. Recent CCAR results reaffirm our strong capital position and resilient balance sheet. We will continue to leverage our proven ability to lead, adapt and innovate, to ensure we deliver on our long-term strategic priorities and the thoughtful evolution of our company irrespective of the environment we face.”

Second Quarter 2022 Financial Results


										*Increase / (Decrease) vs.*

($ millions except per share data)		2Q 22			1Q 22			2Q 21		*1Q 22*		*2Q 21*

GAAP Net Income Attributable to Common Shareholders	$	454		$	627		$	900		(28	)%	(50	)%

Core Net Income Attributable to Common Shareholders¹	$	570		$	687		$	868		(17	)%	(34	)%

GAAP Earning per Common Share	$	1.40		$	1.86		$	2.41		(25	)%	(42	)%

Adjusted EPS¹	$	1.76		$	2.03		$	2.33		(14	)%	(24	)%

Return on GAAP Shareholder’s Equity		14.7	%		18.0	%		24.1	%	(19	)%	(39	)%

Core ROTCE¹		23.2	%		23.6	%		26.7	%	(2	)%	(13	)%

GAAP Common Shareholder’s Equity per Share	$	37.28		$	39.99		$	41.93		(7	)%	(11	)%

Adjusted Tangible Book Value per Share¹	$	32.16		$	35.04		$	38.83		(8	)%	(17	)%

GAAP Total Net Revenue	$	2,076		$	2,135		$	2,085		(3	)%	—	%

Adjusted Total Net Revenue¹	$	2,222		$	2,210		$	2,145		1	%	4	%

Pre-Provision Net Revenue¹	$	938		$	1,013		$	1,010		(7	)%	(7	)%

Core Pre-Provision Net Revenue¹	$	1,084		$	1,088		$	1,070		—	%	1	%

¹ The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: 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.

² The YoY variances shown were calculated using information provided by Fair Square relating to periods prior to the closing of our acquisition of Fair Square on December 1, 2021.

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^AAdjusted 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.

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

Second Quarter 2022 Financial Results


										*Increase/(Decrease) vs.*

($ millions except per share data)	2Q 22			1Q 22			2Q 21			*1Q 22*			*2Q 21*

Net Financing Revenue (excluding Core OID)¹	$	1,774		$	1,703		$	1,556		$	71		$	218

Core OID		(10	)		(10	)		(9	)		—			(1	)

(a) Net Financing Revenue		1,764			1,693			1,547			71			217

Adjusted Other Revenue²		448			508			588			(59	)		(140	)

Change in Fair Value of Equity Securities²		(136	)		(66	)		19			(71	)		(156	)

(b) Other Revenue		312			442			538			(130	)		(226	)

(c) Provision for Credit Losses		304			167			(32	)		137			336

(d) Noninterest Expense		1,138			1,122			1,075			16			63

Pre-Tax Income (a+b-c-d)	$	634		$	846		$	1,042		$	*(212*	)	$	*(408*	)

Income Tax Expense		152			191			143			(39	)		9

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

Net Income	$	482		$	655		$	900		$	*(173*	)	$	*(418*	)

Preferred Dividends		28			28			—			—			28

Net Income Attributable to Common Shareholders	$	454		$	627		$	900		$	*(173*	)	$	*(446*	)

GAAP EPS (diluted)	$	1.40		$	1.86		$	2.41		$	*(0.45*	)	$	*(1.01*	)

Core OID, Net of Tax		0.02			0.02			0.02			—			0.01

Change in Fair Value of Equity Securities, Net of Tax		0.33			0.15			(0.04	)		0.18			0.37

Repositioning, Discontinued Ops, and Other, Net of Tax⁴		—			—			0.14			—			(0.14	)

Significant Discrete Tax Items⁵		—			—			(0.21	)		—			0.21

Adjusted EPS⁶	$	1.76		$	2.03		$	2.33		$	*(0.27*	)	$	*(0.57*	)

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

(2)

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

(3)	Represents a non-GAAP financial measure. Adjusted for Day 1 activity from the Fair Square Financial acquisition.

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

(5)	Significant discrete tax items reflect $78 million release of valuation allowance on foreign tax credit carryforwards during the second quarter of 2021.

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

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Pre-Tax Income by Segment


										*Increase/(Decrease) vs.*

($ millions)		2Q 22			1Q 22		2Q 21			*1Q 22*			*2Q 21*

Automotive Finance	$	600		$	725	$	917		$	(125	)	$	(317	)

Insurance		(122	)		13		87			(135	)		(209	)

Dealer Financial Services	$	478		$	738	$	1,004		$	*(260*	)	$	*(526*	)

Corporate Finance		60			64		95			(4	)		(35	)

Mortgage Finance		6			11		—			(5	)		6

Corporate and Other		90			33		(57	)		57			147

Pre-Tax Income from Continuing Operations	$	634		$	846	$	1,042		$	*(212*	)	$	*(408*	)

Core OID¹		10			10		9			—			1

Change in Fair Value of Equity Securities²		136			66		(19	)		71			156

Repositioning and Other³		—			—		70			—			(70	)

Core Pre-Tax Income⁴	$	780		$	921	$	1,102		$	*(141*	)	$	*(321*	)

(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 2Q 2021 includes a $70 million charge related to loss on extinguishment of debt associated with the redemption of TRUPs

(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.

^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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		Discussion of Segment Results
		Discussion of Segment Results

Corporate Finance

Pre-tax income of $60 million in the quarter was $35 million lower year over year, as higher provision expense and a moderation of other revenue from elevated levels in the prior year period more than offset the impact of portfolio growth.

Net financing revenue was flat year over year at $77 million. Other revenue decreased $15 million year over year to $19 million due to elevated investment gains in the prior year.

Provision for credit losses was $8 million, increasing $21 million from the prior-year period due to higher reserves for specific exposures and a recovery recorded in the prior year period. Overall, the portfolio continues to reflect strong credit performance.

The held-for-investment loan portfolio increased 38% year over year from $6.2 billion to $8.5 billion.

Mortgage Finance

Pre-tax income of $6 million was up $6 million year over year, driven by higher net financing revenue offset by lower other revenue and higher noninterest expense.

Net financing revenue was up $33 million year over year to $56 million, reflecting growth in asset balances and normalizing prepayment activity. Other revenue decreased $18 million year over year to $4 million, primarily driven by lower gain on sale margins and elimination of origination fees. Noninterest expense increased $9 million as the business continues to scale.

Direct-to-consumer originations totaled $0.9 billion in the quarter, down 60% year over year given the contraction in the overall mortgage market.

Existing Ally Bank deposit customers accounted for 43% of the quarter’s direct-to-consumer origination volume.


				Capital, Liquidity & Deposits
				Capital, Liquidity & Deposits
Capital Ally paid a $0.30 per share quarterly common dividend, which was up 58% year over year. Additionally, Ally completed $600 million of share repurchases in the second quarter, including shares withheld to cover income taxes owed by participants related to share-based incentive plans. Ally’s board of directors approved a $0.30 per share common dividend for the third quarter of 2022. Ally’s Common Equity Tier 1 (CET1) capital ratio decreased from 10.0% to 9.6% quarter over quarter while risk weighed assets (RWA) increased from $149.0 billion to $152.2 billion, primarily driven by retail auto growth. The decline in CET1 was the result of aforementioned RWA growth, as well as share repurchase and dividend activity that offset strong net income generation. Liquidity & Funding Consolidated cash and cash equivalents^Ftotaled $3.7 billion at quarter-end, up from $3.6 billion at the end of the first quarter. Total liquidity^G was $28.3 billion at quarter-end. Deposits represented 85% of Ally’s funding portfolio at quarter-end. Deposits Retail deposits increased to $131.2 billion at quarter-end, up $1.9 billion year over year and down $4.8 billion quarter over quarter. Total deposits increased $1.3 billion year over year to $140.4 billion and Ally maintained industry-leading customer retention at 96%. The average retail portfolio deposit rate was 0.71% for the quarter, up 2 bps year over year and up 12 bps quarter over quarter. Ally’s retail deposit customer base grew 6% year over year, totaling 2.5 million customers at quarter-end. Millennials and younger customers continue to comprise the largest generation segment of new customers, accounting for 69% of new customers in the quarter. Approximately 9% of deposit customers maintained an Ally Invest or Ally Home relationship at quarter-end.

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

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

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Definitions of Non-GAAP Financial Measures and Other Key Terms

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

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

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

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

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

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

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

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

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

Core 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. Subsequent to December 1, 2021, the revenue and expense activity associated with Fair Square 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 extended through December 31, 2021. Beginning on January 1, 2022, we are required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the five-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and beginning January 1, 2022, are phasing in the regulatory capital impacts of CECL based on this five-year transition period.

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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)*		2Q 22			1Q 22			2Q 21

GAAP Net Income Attributable to Common Shareholders		$	454		$	627		$	900

Discontinued Operations, Net of Tax			—			—			(1	)

Core OID			10			10			9

Repositioning and Other			—			—			70

Change in the Fair Value of Equity Securities			136			66			(19	)

Tax on: Core OID & Change in Fair Value of Equity Securities (21% starting 1Q18)			(31	)		(16	)		(13	)

Significant Discrete Tax Items			—			—			(78	)

Core Net Income Attributable to Common Shareholders	[a]	$	570		$	687		$	868

*Denominator*

Weighted-Average Common Shares Outstanding *- (Diluted, thousands)*	[b]		324,027			337,812			373,029

Adjusted EPS	[a] ÷ [b]	$	1.76		$	2.03		$	2.33


Core Return on Tangible Common Equity (ROTCE)

*Numerator ($ millions)*		2Q 22			1Q 22			2Q 21

GAAP Net Income Attributable to Common Shareholders		$	454		$	627		$	900

Discontinued Operations, Net of Tax			—			—			(1	)

Core OID			10			10			9

Repositioning and Other			—			—			70

Change in Fair Value of Equity Securities			136			66			(19	)

Tax on: Core OID & Change in Fair Value of Equity Securities (21% starting 1Q18)			(31	)		(16	)		(13	)

Significant Discrete Tax Items			—			—			(78	)

Core Net Income Attributable to Common Shareholders	[a]	$	570		$	687		$	868

*Denominator (Average, $ millions)*

GAAP Shareholder’s Equity		$	14,699		$	16,232		$	16,078

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

GAAP Common Shareholder’s Equity		$	12,375			13,908		$	14,916

Goodwill & Identifiable Intangibles, Net of Deferred Tax Liabilities (DTLs)			(926	)		(937	)		(376	)

Tangible Common Equity		$	11,449		$	12,971		$	14,540

Core OID Balance			(868	)		(878	)		(985	)

Net Deferred Tax Asset (DTA)			(758	)		(437	)		(571	)

Normalized Common Equity	[b]	$	9,822		$	11,656		$	12,984

Core Return on Tangible Common Equity	[a] ÷ [b]		23.2	%		23.6	%		26.7	%

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Adjusted Tangible Book Value per Share

*Numerator ($ millions)*		2Q 22			1Q 22			2Q 21

GAAP Shareholder’s Equity		$	13,984		$	15,413		$	17,530

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

GAAP Common Shareholder’s Equity		$	11,660		$	13,089		$	15,206

Goodwill and Identifiable Intangible Assets, Net of DTLs			(920	)		(932	)		(374	)

Tangible Common Equity			10,740			12,157			14,832

Tax-effected Core OID Balance (21% starting in 4Q17)			(682	)		(690	)		(752	)

Adjusted Tangible Book Value	[a]	$	10,058		$	11,468		$	14,081

*Denominator*

Issued Shares Outstanding (period-end, thousands)	[b]		312,781			327,306			362,639

*Metric*

GAAP Common Shareholder’s Equity per Share		$	37.28		$	39.99		$	41.93

Goodwill and Identifiable Intangible Assets, Net of DTLs per Share			(2.94	)		(2.85	)		(1.03	)

Tangible Common Equity per Share		$	34.34		$	37.14		$	40.90

Tax-effected Core OID Balance (21% starting in 4Q17) per Share			(2.18	)		(2.11	)		(2.07	)

Adjusted Tangible Book Value per Share	[a] ÷ [b]	$	32.16		$	35.04		$	38.83



Adjusted Efficiency Ratio

*Numerator ($ millions)*		2Q 22			1Q 22			2Q 21

GAAP Noninterest Expense		$	1,138		$	1,122		$	1,075

Insurance Expense			(300	)		(274	)		(272	)

Adjusted Noninterest Expense for Adjusted Efficiency Ratio	[a]	$	838		$	848		$	803

*Denominator ($ millions)*

Total Net Revenue		$	2,076		$	2,135		$	2,085

Core OID			10			10			9

Repositioning Items			—			—			(70	)

Insurance Revenue			(178	)		(287	)		(359	)

Adjusted Net Revenue for Adjusted Efficiency Ratio	[b]	$	1,908		$	1,858		$	1,805

Adjusted Efficiency Ratio	[a] ÷ [b]		43.9	%		45.6	%		44.5	%



Original Issue Discount Amortization Expense ($ millions)

		2Q 22			1Q 22			2Q 21

Core Original Issue Discount (Core OID) Amortization Expense		$	10		$	10		$	9

Other OID			2			3			3

GAAP Original Issue Discount Amortization Expense		$	13		$	13		$	12



Outstanding Original Issue Discount Balance ($ millions)

		2Q 22			1Q 22			2Q 21

Core Outstanding Original Issue Discount Balance (Core OID Balance)		$	(863	)	$	(873	)	$	(952	)

Other Outstanding OID Balance			(39	)		(37	)		(32	)

GAAP Outstanding Original Issue Discount Balance		$	(901	)	$	(911	)	$	(983	)

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$ in millions

Net Financing Revenue (ex. Core OID)

2Q 22

1Q 22

2Q 21

GAAP Net Financing Revenue

[w]

1,764

1,693

1,547

Core OID

Net Financing Revenue (ex. Core OID)

[a]

1,774

1,703

1,556

Adjusted Other Revenue

2Q 22

1Q 22

2Q 21

GAAP Other Revenue

[x]

312

442

538

Accelerated OID & repositioning items

—

Change in Fair Value of Equity Securities

136

(19

)

Adjusted Other Revenue

[b]

448

508

588

Adjusted Total Net Revenue

2Q 22

1Q 22

2Q 21

Adjusted Total Net Revenue

[a]+[b]

2,222

2,210

2,145

Adjusted Provision for Credit Losses

2Q 22

1Q 22

2Q 21

GAAP Provision for Credit Losses

]

304

167

(32

)

Adjusted Provision for Credit Losses

[c]

304

167

(32

)

Adjusted NIE (ex. Repositioning)

2Q 22

1Q 22

2Q 21

GAAP Noninterest Expense

[z]

1,138

1,122

1,075

Adjusted NIE (ex. Repositioning)

[d]

1,138

1,122

1,075

Core Pre-Tax Income

2Q 22

1Q 22

2Q 21

Pre-Tax Income

[w]+[x]-[y]-[z]

634

846

1,042

Core Pre-Tax Income

[a]+[b]-[c]-[d]

780

921

1,102

Core Pre-Provision Net Revenue (Core PPNR)

2Q 22

1Q 22

2Q 21

Pre-Provision Net Revenue

[w]+[x]-[z]

938

1,013

1,010

Core Pre-Provision Net Revenue

[a]+[b]-[d]

1,084

1,088

1,070

Insurance Non-GAAP Walk to Core Pre-Tax Income


*($ millions)*				2Q 2022								2Q 2021

	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	$	285		$	—	$	—	$	285	$	283	$	—	$	—		$	283

Losses and Loss Adjustment Expenses		89			—		—		89		74		—		—			74

Acquisition and Underwriting Expenses		211			—		—		211		198		—		—			198

Investment Income and Other		(107	)		—		136		29		76		—		(20	)		56

Pre-Tax Income from Continuing Operations	$	(122	)	$	—	$	136	$	14	$	87	$	—	$	(20	)	$	67

¹Non-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

For additional financial information, the second quarter 2022 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 consumer credit card business, a corporate finance business for equity sponsors and middle-market companies, and securities brokerage and investment advisory services. Our brand conviction is that we are all better off with an ally, and our focus is on helping our customers achieve their strongest financial well-being, a notion personalized to what is important to them. For more information, please visit www.ally.com and follow @allyfinancial.

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

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

Forward-Looking Statements

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

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

Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2021, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent SEC filings.

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

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


Contacts:
Sean Leary		Peter Gilchrist
Ally Investor Relations		Ally Communications (Media)
704-444-4830		704-644-6299
[email protected]		[email protected]

2Q 2022 Preliminary Results Exhibit 99.2 Ally Financial Inc. 2Q 2022 Earnings Review July 19, 2022 Contact Ally Investor Relations at (866) 710-4623 or [email protected] 1

2Q 2022 Preliminary Results Forward-Looking Statements and Additional Information This presentation and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based on company and third-party data available at the time of the presentation or related communication. This presentation and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts—such as statements about the outlook for financial and operating metrics and performance and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2021, 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

2Q 2022 Preliminary Results GAAP & Core Results: Quarterly ($ millions, except per share data) 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 GAAP net income attributable to common shareholders (NIAC) $ 454 $ 627 $ 624 $ 683 $ 900 (1)(2) $ 570 $ 687 $ 705 $ 782 $ 868 Core net income attributable to common shareholders GAAP earnings per common share (EPS) (basic or diluted as applicable, NIAC) $ 1.40 $ 1.86 $ 1.79 $ 1.89 $ 2.41 (1)(3) $ 1.76 $ 2.03 $ 2.02 $ 2.16 $ 2.33 Adjusted EPS Return on GAAP common shareholders' equity 14.7% 18.0% 16.8% 18.1% 24.1% (1)(4) Core ROTCE 23.2% 23.6% 22.1% 24.2% 26.7% GAAP common shareholders' equity per share $ 37.28 $ 39.99 $ 43.58 $ 42.81 $ 41.93 (1)(5) Adjusted tangible book value per share (Adjusted TBVPS) $ 32.16 $ 35.04 $ 38.73 $ 39.72 $ 38.83 Efficiency ratio 54.8% 52.6% 49.6% 50.5% 51.6% (1)(6) Adjusted efficiency ratio 43.9% 45.6% 44.4% 41.7% 44.5% GAAP total net revenue $ 2,076 $ 2,135 $ 2,199 $ 1,985 $ 2,085 (1)(7) Adjusted total net revenue $ 2,222 $ 2,210 $ 2,197 $ 2,110 $ 2,145 (1)(8) $ 938 $ 1,013 $ 1,109 $ 983 $ 1,010 Pre-provision net revenue (1)(8) Core pre-provision net revenue $ 1,084 $ 1,088 $ 1,107 $ 1,108 $ 1,070 Effective tax rate 24.0% 22.6% 26.8% 21.5% 13.7% (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 29 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 37 for definition and calculation methodology. (7) Adjusted total net revenue is a non-GAAP financial measure. See page 39 for calculation methodology. (8) Pre-provision net revenue (PPNR) and Core pre-provision net revenue (Core PPNR) are non-GAAP financial measures. See page 39 for definition and calculation methodology. 3

2Q 2022 Preliminary Results Purpose-Driven Culture & Priorities ‘Do It Right’ Culture and Values customers Relentless focus on our dealers, consumers & commercial clients digitally employees Ongoing prioritization of our financially teammates and their well-being personally communities Driving meaningful and lasting change through our actions and the Ally Charitable Foundation driving long-term, enhanced value for ALL stakeholders 4

2Q 2022 Preliminary Results 2Q 2022 Highlights Focused Execution Leading, Growing Businesses Durable Returns $1.76 23.2% $2.2B 9.6% Adjusted Total CET1 Adjusted Core (1) (1) (1) Net Revenue Capital Ratio ROTCE EPS • Consistent execution across Ally’s Auto, Insurance and Digital bank platforms, strengthening leading market position • Strong 2Q originations driving increased provision expense from CECL reserves • CCAR 2022: preliminary stress capital buffer of 250bps, ↓100bps | Strong capital and liquidity position Auto & Insurance • Consumer auto originations of $13.3B sourced from 3.3M applications | Highest quarterly origination volume since 2006 2 • 7.8% estimated retail auto originated yield, up 75bps from prior quarter | 54bps of retail auto net-charge offs • Insurance written premiums of $262M | $5.8B investment management portfolio Ally Bank • Deposits: $131.2B of retail deposits, ↓4% QoQ driven by elevated tax outflows; ↑1% YoY | 2.5M retail depositors, ↑6% YoY • Ally Home®: $0.9B originations, ↓60% YoY, reflecting higher interest rate environment | $18.9B HFI balance, ↑39% YoY • Ally Invest: $13.5B net customer assets, ↓18% YoY, driven by market trends | 518k active accounts, ↑5% YoY • Ally Lending: $591M gross originations, ↑98% YoY | 382k active borrowers, ↑78% YoY | 3.2k active merchants, ↑26% YoY 3 3 • Ally Credit Card: $1.2B credit card loan balances, ↑93% YoY | 908k active customers, ↑58% YoY • Corporate Finance: $8.5B HFI loan portfolio, ↑ 38% YoY | Deep expertise, disciplined risk management and steady returns (1) Represents a non-GAAP financial measure. See pages 34, 36, and 39 for calculation methodology and details. (2) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure. See page 31 for details. (3) The YoY variances shown were calculated using information provided by Fair Square relating to periods prior to the closing of our acquisition of Fair Square on 12/1/21. Note: Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies, and securities and brokerage and investment advisory services. 5

2Q 2022 Preliminary Results Strong Value Proposition Product growth and customer expansion through differentiated products and services Proven Scale & Growing Digital-First Driving Deeper Value 99% >10.5 MILLION 9 out of 10 2 1 bank digital interactions new deposit customers customers 3 (deposits and invest) engaging with core product features multi-product customers have #1 95% 4 5 2X largest all-digital bank account openings completed digitally >2.5 million deposit customers more money with us (deposits, invest and credit card) smart savings tool customers #1 100% 6 prime auto lender 2X all-digital auto auction platform >22k dealer relationships more likely to open another ally product 4,000+ ~50% >70% underwriting, servicing and operations less attrition for customers of consumer auto collections associates in auto finance using smart savings tools treated digitally Constant evolution of seamless, integrated experiences See page 32 for footnotes. Note: Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies, and securities and brokerage and investment advisory services. 6

2Q 2022 Preliminary Results Consumer Snapshot Positioning for uncertain outlook; consumer trends normalizing from strong starting point Ally Savings Account Balance & Portfolio Mix by Average Monthly Ally Consumer Auto Applications Income Segment by Income Segment Change in avg. OSA balance (1Q’20 to 2Q’22) % change (2019 to 1H 2022) >$50K >$50K (83%) Total <$50K (17%) Total <$50K Retail Auto Originations & 30+ Day Delinquencies by Retail Auto Frequency of Default Ratio & Portfolio Income Decile Severity Retail Auto Avg. Income ~$105K Portfolio Net (2Q’22 originations) Severity % 1 2Q’19 DQs COVID-19 1 2Q’22 DQs deferral Annualized program Unit Loss active 2Q’22 Frequency of Originations Default Ratio (1) Ally serviced portfolio. Accruing contracts only. 7

2Q 2022 Preliminary Results Balance Sheet Foundation Common Equity Tier 1 (CET1) Allowance For Loan Losses ($ billions) ($ billions) CET1 % 2Q’22 ~$4.0B excess above 7% (Reg. Min. + prelim SCB) CET1 > 4.5% Reg. Min. 4.5% Reg. Min. Note: For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 31 for details. Funding Liquidity Composition ($ billions) (1) (1) Highly liquid securities include unencumbered UST, Agency debt , Agency MBS and highly liquid corporates. 8

2Q 2022 Preliminary Results 2Q 2022 Financial Results 2Q 22 Consolidated Income Statement 1Q 22 2Q 21 1Q 22 2Q 21 ($ millions, except per share data) (1) $ 1,774 $ 1,703 $ 1,556 $ 71 $ 218 Net financing revenue (ex. Core OID) (1) (10) (10) (9) ( 0) (1) Core OID Net financing revenue $ 1,764 $ 1 ,693 $ 1 ,547 $ 71 $ 217 (1) 448 508 588 (59) (140) Adjusted other revenue (2) (136) (66) (50) (71) (86) Repositioning & change in fair value of equity securities Other revenue 312 442 538 (130) (226) Net charge-offs 153 133 (6) 20 159 Provision build / (release) 151 34 (26) 117 177 Provision for credit losses 304 167 (32) 137 336 Noninterest expense 1,138 1,122 1,075 16 63 Pre-tax income $ 634 $ 846 $ 1,042 $ (212) $ (408) Income tax expense 152 191 143 (39) 9 Net income / (loss) from discontinued operations - - 1 - ( 1) Net income $ 482 $ 655 $ 900 $ (173) $ (418) Preferred stock dividends 28 28 - - 28 Net income attributable to common stockholders $ 454 $ 627 $ 900 $ (1 73) $ (4 46) GAAP EPS (diluted) $ 1.40 $ 1.86 $ 2.41 $ (0.45) $ (1.01) (1) 0 .02 0.02 0.02 0 .00 0.01 Core OID, net of tax Change in fair value of equity securities, net of tax 0.33 0 .15 (0.04) 0.18 0.37 (3) - - 0 .14 - ( 0.14) Repositioning, discontinued ops., and other, net of tax Significant discrete tax items - - (0.21) - 0.21 (4) $ 1.76 $ 2.03 $ 2.33 $ (0.27) $ (0.57) Adjusted EPS (1) Represents a non-GAAP financial measure. For calculation methodology see page 39. (2) See page 38 for details and calculation methodology. (3) Represents a non-GAAP financial measure. For calculation methodology see pages 34 and 38. (4) Represents a non-GAAP financial measure. For calculation methodology see page 34. 9

2Q 2022 Preliminary Results Balance Sheet & Net Interest Margin 2Q 22 1Q 22 2Q 21 Average Average Average Balance Yield Balance Yield Balance Yield ($ millions) Retail Auto Loan $ 7 9,695 6.82% $ 78,224 6.61% $ 7 4,662 6.70% Retail Auto Loan (ex. hedge impact) 6.85% 6.75% 6.92% Auto Lease (net of depreciation) 10,615 6.66% 10,878 6.96% 10,355 11.67% Commercial Auto 16,211 3.65% 16,404 3.32% 16,332 3.60% Corporate Finance 8,351 5.02% 8,045 4.76% 6,383 5.37% (1) 18,980 3.01% 18,228 2.94% 13,179 2.80% Mortgage (2) 1,346 11.94% 1,100 12.62% 537 14.44% Consumer Other - Ally Lending (3) 1,093 19.71% 981 18.75% - - Consumer Other - Ally Credit Card Cash and Cash Equivalents 3,761 0.61% 4,027 0.15% 16,564 0.10% (4) 35,050 2.35% 37,025 2.09% 36,784 1.63% Investment Securities & Other Earning Assets $ 175,103 5.11% $ 174,911 4.86% $ 1 74,796 4.69% (4) 136,663 5.93% 134,220 5.76% 121,770 6.24% Total Loans and Leases (5) $ 139,814 0.76% $ 141,557 0.61% $ 139,382 0.77% Deposits (6) 9,674 5.04% 9,976 5.12% 11,737 5.33% Unsecured Debt Secured Debt 1,154 6.61% 1,089 6.36% 2,618 4.44% (7) 11,966 1.75% 7,203 2.11% 5,044 2.81% Other Borrowings (6) $ 1 62,608 1.12% $ 159,826 0.99% $ 1 58,781 1.23% Funding Sources (6) 4.06% 3.95% 3.57% NIM (ex. Core OID) NIM (as reported) 4.04% 3.93% 3.55% (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) Credit Card lending portfolio. (4) Includes Community Reinvestment Act and other held-for-sale (HFS) loans. (5) Includes retail, brokered, and other deposits (inclusive of sweep deposits, mortgage escrow and other deposits). (6) Represents a non-GAAP financial measure. Excludes Core OID and Core OID balance. See page 39 for calculation methodology. (7) Includes FHLB borrowings and Repurchase Agreements. 10

2Q 2022 Preliminary Results Capital • 2Q 2022 CET1 ratio of 9.6% Capital Ratios and Risk-Weighted Assets – Strong earnings supporting loan growth across portfolios • Consistent, strong shareholder distributions Total Capital – Executed $600 million of repurchases in 2Q (~$1.2B YTD) Ratio Tier 1 Ratio – Announced 3Q common dividend of $0.30 per share CET1 Ratio • CCAR results demonstrate strength and resilience of Ally’s Risk balance sheet, and ability to withstand severe macro Weighted Assets ($B) economic stress – Ally’s CET1 FRB operating requirement of 7.0%, effective in October – Regulatory minimum CET1 of 4.5%; SCB of 2.5% (↓100bps) Note: For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 31 for details. Common Shares Outstanding Dividend Per Share (# millions) Note: Repurchased common shares include shares withheld to cover income taxes owed by participants related to share-based incentive plans. 11

2Q 2022 Preliminary Results Asset Quality: Key Metrics Consolidated Net Charge-Offs (NCOs) Net Charge-Off Activity ($ millions) 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 Retail Auto $ (5) $ 51 $ 94 $ 113 $ 108 Commercial Auto - - - (1) (1) Annualized NCO Rate Mortgage Finance 1 - - - (1) Corporate Finance (4) - 1 - 26 NCOs ($M) Ally Lending 4 5 9 15 13 (1) Ally Credit Card - - 2 8 11 ($6) (2) Corp/Other (2) (2) (3) (2) (3) Total $ (6) $ 54 $ 103 $ 133 $ 153 Note: Ratios exclude loans measured at fair value and loans held-for-sale. See page 31 for definition. (1) 4Q’21 Ally Credit Card NCOs represent December 2021 activity only (2) Corp/Other includes legacy Mortgage HFI portfolio. Retail Auto Delinquencies Retail Auto Net Charge-Offs (NCOs) Days Past Due (“DPD”) 2Q’22 ↑ 30+ DPD driven by seasonality and continued normalization 30+ DPD Delinquency Rate 60+ DPD Delinquency Rate Annualized NCO Rate NCOs ($M) 60+ Delinquent Contracts ($M) ($5) See page 31 for definition. Note: Includes accruing contracts only. 12

2Q 2022 Preliminary Results Asset Quality: Coverage & Reserves Consolidated Coverage Retail Auto Coverage ($ billions) ($ billions) Reserve (%) Reserve (%) Reserve ($) Reserve ($) Note: Coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. Note: Coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. Consolidated QoQ Reserve Walk ($ millions) Net Charge- ∆ In Portfolio All 2Q’22 1Q’22 1 2 3 off Activity Size Other Reserve Reserve ($153) 2Q’22 NCOs ($14) $163 Loan Growth Includes macroeconomic $3,301 $3,450 $153 Replenished trends Increases in 2Q reserves primarily driven by strong origination volume, positioning Ally for long-term, accretive returns 13

2Q 2022 Preliminary Results Ally Bank: Deposit & Customer Trends • Total deposits of 140.4 billion, up $1.3 billion YoY Total Deposits: Retail & Brokered ($ billions; EoP) – Retail deposits of $131.2 billion, down $4.8 billion QoQ; up $1.9 billion YoY – 2Q retail deposit balance decline driven by elevated tax outflows, Brokered / Other reflective of industry-wide trends ▪ Continue to expect full year 2022 retail deposit growth Customer Retention 96% 96% 96% 96% 96% 96% Rate • 2.5 million retail deposit customers, up 6% YoY Retail Balances rd – Ally’s 53 consecutive quarter of growth Avg. Retail Portfolio Interest Rate – 69% of new 2Q customers were from millennial or younger generations Note: Brokered / Other includes sweep deposits, mortgage escrow and other deposits. See page 31 for Customer Retention Rate definition. Numbers may not foot due to rounding. Retail Deposit Customer Trends Ally Bank: Multi-Product Relationship Customers Deposit Customers with an Ally Invest or Ally Home relationship Total Customers 2.5M Net New Customers per Quarter 1.1M 14

2Q 2022 Preliminary Results Ally Bank: Leading, Growing & Diversified $ # 2.5M 53 131B 13+ 1 Largest All-Digital, Ally Bank Consecutive Quarters Retail Deposit Consecutive Years of (1) Direct U.S. Bank Deposit Customers of Customer Growth Balances Retail Deposit Growth Brokerage & Wealth: Ally Invest • Momentum in newly acquired consumer businesses Net Customer Assets ($ in billions) | Depositors drove ~70% of account growth in 2Q’22 with opportunity for meaningful growth in earning Acquired: 2Q’16 assets and risk adjusted returns 20% CAGR – Complementary, digitally-based products and services to provide seamless, integrated customer experiences – Differentiated value proposition drives increased engagement and retention, positioning Ally for growth Net Funded Accounts (k) – Leveraging strength of Ally brand, marketing and balance sheet to scale efficiently Point-of-Sale: Ally Lending Credit Card: Ally Credit Card EoP Portfolio Balances ($ in billions) | 3.2k merchant relationships; 31% CAGR EoP Portfolio Balances ($ in billions) | ~63% Customer CAGR since 2017 Acquired: 4Q’19 Acquired: 4Q’21 119% CAGR +93% See page 32 for footnotes. Note: Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies, and securities and brokerage and investment advisory services. 15

2Q 2022 Preliminary Results Auto Finance Inc / (Dec) v. • Auto pre-tax income of $600 million Key Financials ($ millions) 2Q 22 1Q 22 2Q 21 – Pre-tax income, down $125 million QoQ, primarily driven by higher Net financing revenue $ 1,301 $ 6 $ ( 32) provision for credit losses from robust consumer origination volume Total other revenue 72 4 11 Total net revenue 1,373 10 (21) – Ending earning assets of $108.8 billion, increased $7.1 billion YoY, largely driven by retail auto loan growth Provision for credit losses 228 124 251 (1) Noninterest expense 545 11 45 • Strong pricing and credit trends reflect dealer Pre-tax income $ 600 $ (125) $ (317) engagement, deep expertise in underwriting and servicing U.S. auto earning assets (EOP) $ 1 08,816 $ 1,529 $ 7,055 • Used vehicle values stayed elevated, driven by continued Key Statistics strength in consumer demand and low vehicle supply Remarketing gains ($ millions) $ 50 $ (0) $ ( 78) Average gain per vehicle $ 1,671 $ 31 $ (2,013) – Elevated prepayment activity remains a headwind to portfolio yield Off-lease vehicles terminated (# units) 29,665 (823) (5,103) – Lease buyout trends continue to limit remarketing gains Application Volume (# thousands) 3,296 128 (232) Retail Auto Yield Trends Lease Portfolio Trends Lessee & Dealer Estimated Buyout % Originated (2) Yield Manheim ↑ ~60% Used Vehicle Portfolio vs. 2Q’19 Value Index Yield (ex. Hedge) Remarketing Gains ($ millions) NCO Rate Avg. Gain / Unit 0.95% (0.03%) 0.27% 0.48% 0.58% 0.54% $776 $3,684 $2,495 $2,339 $1,640 $1,671 See page 32 for additional footnotes. (2) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure. See page 31 for details. 16

2Q 2022 Preliminary Results Used Vehicle Value Dynamics Limited supply and strong demand has driven used vehicle values +~60% vs. 2019 with offsetting impacts across Ally P&L 2Q Pre-tax Impact H / (L) vs. 2019 + Favorable charge-off severity Retail NCOs ~$50M driven by ↑ auction proceeds Strong auction proceeds and ~$45M Net Lease Revenue ↓ depreciation, net of ↑ lessee buyouts Low new vehicle inventories Commercial Floorplan ~$45M driving ↓~$10B earning assets Prepayment impacts of increased used ~$50M Retail Portfolio Yield demand + positive vehicle equity - As market conditions gradually normalize, driven by improvement in supply chains and new vehicle supply, natural hedges expected to limit overall profitability impact 17 Used Vehicle Value Impact (Used vehicle values ↑~60 % 2Q’22 avg. vs. 2Q’19 avg.)

2Q 2022 Preliminary Results Auto Finance: Agile Market Leader # # # # Leading 1 1 1 1 Prime Auto Bank Floorplan Bank Retail Auto Dealer Satisfaction Insurance Provider (1) (2) (3) (4) Lender Lender Loan Outstandings J.D. Power Award (F&I, P&C Products) Dealer Relationships & Consumer Applications Auto Balance Sheet Trends ($ billions) ($ billions; EoP) Active U.S. Dealer (5) Relationships Lease Retail U.S. Consumer Applications 6.5M Commercial YTD Auto Consumer Originations Consumer Origination Mix ($ billions; % of $ originations) (% of $ originations) Retail Weighted Avg. Lease FICO New Growth Used Stellantis Nonprime % of GM Total Retail See page 32 for footnotes. 18

2Q 2022 Preliminary Results Insurance Inc / (Dec) v. • Insurance pre-tax loss of $122 million and core pre-tax Key Financials ($ millions) 2Q 22 1Q 22 2Q 21 income of $14 million Premiums, service revenue earned and other $ 285 1 $ 2 VSC Losses 38 5 5 – $285 million of earned premiums represents highest 2Q since IPO Weather Losses 26 24 11 Other Losses 25 2 (1) – Higher YoY losses driven by weather, as 2Q’21 represented the Losses and loss adjustment expenses 89 31 15 lowest 2Q weather losses since IPO (2) Acquisition and underwriting expenses 211 (5) 13 Total underwriting income (15) (25) (26) – Investment income of $29 million, lower YoY and QoQ, driven by (1) Investment income and other (adjusted) 29 (34) (27) elevated investment gains in prior periods (1) Core pre-tax income $ 14 $ (59) $ ( 53) (3) Change in fair value of equity securities ( 136) (76) ( 156) • Written premiums of $262 million in 2Q 2022, down 13% YoY, reflecting lower unit sales and inventory levels Pre-tax income loss $ (122) $ (135) $ (209) Total assets (EOP) $ 8,819 $ (401) $ (575) Key Statistics - Insurance Ratios 2Q 22 1Q 22 2Q 21 Loss ratio 31.2% 20.5% 26.3% Underwriting expense ratio 74.8% 76.0% 70.4% Combined ratio 106.0% 96.5% 96.7% Insurance Losses Insurance Written Premiums ($ millions) ($ millions) P&C Premium Other Losses Weather Losses F&I Premium VSC Losses (1) Represents a non-GAAP financial measure. See page 38 for calculation methodology and details. Note: F&I: Finance and insurance products and other. P&C: Property and 19 For additional footnotes see page 33. casualty insurance products.

2Q 2022 Preliminary Results Corporate Finance Inc / (Dec) v. • Corporate Finance pre-tax income of $60 million Key Financials ($ millions) 2Q 22 1Q 22 2Q 21 – Provision increase YoY driven by higher specific reserves and a Net financing revenue $ 77 $ (6) $ - recovery in the prior year (1) Adjusted total other revenue 19 (10) (15) (1) Adjusted total net revenue 96 (16) (15) – Other revenue down YoY driven by equity investment gains that did Provision for credit losses 8 2 21 not repeat and lower syndication fee income (2) Noninterest expense 28 (9) - • Held-for-investment loans of $8.5B, up 38% YoY (1) Core pre-tax income $ 60 $ (9) $ ( 36) (3) – YoY increase driven by strong origination volume while maintaining Change in fair value of equity securities 0 5 1 Pre-tax income credit discipline $ 60 $ (4) $ ( 35) Total assets (EOP) $ 8,890 $ 804 $ 2,644 • High quality, 100% floating-rate lending portfolio – Comprised of 57% asset-based loans with 99.9% in first lien position HFI Loans and Unfunded Commitments Diversified Loan Portfolio ($ billions; EoP) (as of 6/30/22) Unfunded Commitments HFI Loans Note: Balances exclude HFS loans and include signed commitment letters. HFI loans shown net of deferred fees (1) Represents a non-GAAP financial measure. See page 38 for calculation methodology and details. For additional footnotes see page 33. 20

2Q 2022 Preliminary Results Mortgage Finance Inc / (Dec) v. • Mortgage pre-tax income of $6 million Key Financials ($ millions) 2Q 22 1Q 22 2Q 21 – Net financing revenue, up $33 million YoY, reflecting growth in Net financing revenue $ 56 $ 3 $ 33 asset balances and decelerating prepayment activity Total other revenue 4 (10) (18) – Other revenue, down YoY and QoQ, driven by decreased gain Total net revenue $ 60 $ (7) $ 15 on sale margins and lower HFS units Provision for credit losses - - - (1) Noninterest expense 54 (2) 9 • Direct-to-Consumer (DTC) originations of $0.9 billion in Pre-tax income 2Q 2022, down 60% YoY, driven by market conditions $ 6 $ (5) $ 6 Total assets (EOP) $ 19,126 $ 530 $ 5,261 – Refinance activity down 80% QoQ and 87% YoY – 43% of 2Q originations from existing depositors Mortgage Finance HFI Portfolio 2Q 22 1Q 22 2Q 21 Net Carry Value ($ billions) $ 18.9 $ 18.4 $ 13.6 • Partnership model limits operational volatility from (2) 53.7% 55.7% 58.8% Wtd. Avg. LTV/CLTV changes in industry volume Refreshed FICO 779 776 776 Mortgage: Held-for-Investment Assets Mortgage: Direct-to-Consumer Originations ($ billions) ($ billions) DTC DTC HFS Bulk DTC HFI Bulk $0.0 $1.7 $1.2 $0.7 $0.8 $0.8 See page 33 for footnotes. 21

2Q 2022 Preliminary Results Strategic Priorities ‘Do It Right’ Purpose-Driven Culture Optimizing leading Auto, Insurance & Ally Bank products & platforms Engaging customers with newer products across scalable platforms Differentiating through deep expertise & digital-first capabilities Driving disciplined risk management & accretive capital deployment Delivering sustainable, enhanced results and value for ALL stakeholders 22

2Q 2022 Preliminary Results Supplemental 23

2Q 2022 Preliminary Results Supplemental Results by Segment Core pre-tax income Walk Inc / (Dec) v. ($ millions) Segment Detail 2Q 22 1Q 22 2Q 21 1Q 22 2Q 21 Automotive Finance $ 600 $ 725 $ 917 $ (1 25) $ (3 17) Insurance (1 22) 13 87 (135) (209) Dealer Financial Services $ 478 $ 738 $ 1 ,004 $ (260) $ (5 26) Corporate Finance 60 64 95 (4 ) (35) Mortgage Finance 6 11 - (5 ) 6 Corporate and Other 90 33 (5 7) 57 147 $ (2 12) $ (4 08) Pre-tax income from continuing operations $ 634 $ 846 $ 1 ,042 (1) Core OID 10 10 9 0 1 (2) Change in fair value of equity securities 136 66 (1 9) 71 156 (3) Repositioning and other - - 70 - (70) (1) $ (141) $ (321) $ 780 $ 921 $ 1 ,102 Core pre-tax income (1) Represents a non-GAAP financial measure. See pages 38 and 39 for calculation methodology and details. See page 33 for additional footnotes. 24

2Q 2022 Preliminary Results Supplemental Funding Profile Details Funding Mix Deposit Mix Unsecured FHLB / Other Brokered / Other Secured Retail CD Deposits MMA/OSA/ Checking Note: Totals may not foot due to rounding. Note: Other includes sweep deposits, mortgage escrow and other deposits. Totals may not foot due to rounding. (1) Unsecured Long-Term Debt Maturities Wholesale Funding Issuance ($ billions) ($ billions) Maturity Weighted Avg. Principal Amount (2) Outstanding Date Coupon 2023 2.09% $ 2.00 2024 4.48% $ 1.45 (3) 2025+ 6.01% $ 6.29 (1) Excludes retail notes and perpetual preferred equity; as of 6/30/2022. Note: Term ABS shown includes funding amounts (notes sold) at new issue and does not include private (2) Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs. offerings sold later. Excludes $2.35 billion of preferred equity issued in 2021. Totals may not foot due to (3) Weighted average coupon based on notional value and corresponding coupon for all unsecured bonds as of rounding. January 1st of the respective year. Does not reflect weighted average interest expense for the respective year. 25

2Q 2022 Preliminary Results Supplemental Corporate and Other ($ millions) Inc / (Dec) v. • Pre-tax income of $90 million, Core pre-tax income of Key Financials 2Q 22 1Q 22 2Q 21 $101 million includes: Net financing revenue $ 310 $ 65 $ 211 Total other revenue 59 (7) ( 19) Total net revenue $ 369 $ 58 $ 192 – Higher YoY net financing revenue driven by increased yield on Provision for credit losses 68 11 64 securities portfolio and reduced cash balances Noninterest expense 211 (10) ( 19) Pre-tax income $ 90 $ 57 $ 147 (1) • Total assets down YoY primarily driven by normalized Core OID 10 0 1 (2) Repositioning and other - - (70) cash balances (3) Change in fair value of equity securities 0 (0) 1 - - (1) Core pre-tax income $ 101 $ 57 $ 79 Cash & securities $ 32,324 $ (1,343) $ (11,880) (4) Held-for-investment loans, net 2,446 298 1,146 (5) Intercompany loan (411) 161 286 (5) Other 7,331 (67) 1,335 Total assets $ 41,690 $ ( 951) $ (9,113) Ally Financial Rating Details Ally Invest 2Q 22 1Q 22 2Q 21 Net Funded Accounts (k) 518.2 517.3 494.6 Ally Financial Ratings / Upgrades Average Customer Trades Per Day (k) 33.7 40.2 48.5 LT Debt ST Debt Outlook Date Total Customer Cash Balances $ 2,027 $ 2,268 $ 2,166 Total Net Customer Assets $ 13,508 $ 16,733 $ 1 6,444 Fitch BBB- F3 Stable 3/24/2022 Moody's Baa3 P-3 Stable 8/27/2021 S&P BBB- A-3 Stable 3/25/2021 DBRS BBB R-2H Stable 2/18/2022 Ally Lending 2Q 22 1Q 22 2Q 21 Note: Ratings & Outlook as of 6/30/2022. Our borrowing costs & access to the capital markets could be negatively Gross Originations $ 591 $ 442 $ 299 impacted if our credit ratings are downgraded or otherwise fail to meet investor expectations or demands. Held-for-investment Loans (EOP) $ 1,523 $ 1,209 $ 640 Portfolio yield 11.9% 12.6% 14.4% NCO % 4.0% 5.4% 3.3% Ally Credit Card 2Q 22 1Q 22 2Q 21 Gross Receivable Growth (EOP) $ 189 $ 83 $ 99 Outstanding Balance (EOP) $ 1,225 $ 1,036 $ 634 NCO % 3.8% 3.2% 6.0% Active Cardholders (k) 908.4 8 43.8 573.4 Note: Ally Credit Card metrics are not reflected in Ally’s 2Q’21 consolidated results (1) Represents a non-GAAP financial measure. See pages 38 and 39 for calculation methodology and details. See page 33 for additional footnotes. 26

2Q 2022 Preliminary Results Supplemental Interest Rate Risk Sensitivities (1) Net Financing Revenue Sensitivity Analysis ($ millions) 2Q 22 1Q 22 (2) (2) Change in interest rates Gradual Instantaneous Gradual Instantaneous -25 bps $ ( 5) $ 26 $ 8 $ 38 +100 bps $ 26 $ (79) $ (17) $ (135) Stable rate environment n/m $ 751 n/m $ 613 (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. 27

2Q 2022 Preliminary Results Supplemental Deferred Tax Asset (1) Deferred Tax Asset 2Q 22 1Q 22 Gross DTA Valuation Net DTA Net DTA Balance Allowance Balance Balance Net Operating Loss (Federal) $ 516 $ - $ 516 $ 660 Tax Credit Carryforwards 1,123 ( 729) 394 350 State/Local Tax Carryforwards 288 ( 137) 151 124 Other Deferred Tax Assets / (Liabilities) (179) - (179) (525) Net Deferred Tax Asset $ 1,748 $ ( 866) $ 882 $ 609 (1) GAAP does not prescribe a method for calculating individual elements of deferred taxes for interim periods; therefore, these balances are estimates. Deferred Tax Asset / (Liability) Balances ($ millions) Net GAAP DTA Balance Disallowed DTA $871 $882 $839 $609 $244 $75 $48 $6 $2 $5 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 Note: Changes to DTA in 2021 driven primarily by changes in tax depreciation election. Increase to DTA in 2022 primarily due to unrealized losses on investment securities, partially offset by pre-tax book income. 28

2Q 2022 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 38 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. See page 39 for calculation methodology and details. 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 36 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 39 calculation methodology and details. 29

2Q 2022 Preliminary Results Supplemental Notes on Non-GAAP Financial Measures 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 39 for calculation methodology and details. 7) Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt. 30

2Q 2022 Preliminary Results Supplemental Notes on Other Financial Measures 1) 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. 2) 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. 3) 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. 4) 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 5) Customer retention rate is the annualized 3-month rolling average of 1 minus the monthly attrition rate; excludes escheatment. 6) Estimated impact of CECL on regulatory capital per final rule issued by U.S. banking agencies - In December 2018, the FRB and other U.S. banking agencies approved a final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, the option to phase in the day-one impact of CECL over a three-year period. In March 2020, the FRB and other U.S. banking agencies issued an interim final rule that became effective on March 31, 2020 and provided an alternative option for banks to temporarily delay the impacts of CECL, relative to the incurred loss methodology for estimating the allowance for loan losses, on regulatory capital. A final rule that was largely unchanged from the March 2020 interim final rule was issued by the FRB and other U.S. banking agencies in August 2020, and became effective in September 2020. For regulatory capital purposes, these rules permitted us to delay recognizing the estimated impact of CECL on regulatory capital until after a two-year deferral period, which for us extended through December 31, 2021. Beginning on January 1, 2022, we are required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the five-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and beginning January 1, 2022 are phasing in the regulatory capital impacts of CECL based on this five-year transition period. 7) 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

2Q 2022 Preliminary Results Supplemental Additional Notes Page – 6 | Strong Value Proposition (1) Customers include on-balance sheet Auto, U.S. and Canadian Insurance, active Depositors, on-balance sheet Ally Home DTC Mortgage, Ally Lending, Ally Invest, and Ally Credit Card. (2) Bank digital interactions represent the percentage of Deposit and Ally Invest online and mobile logins divided by online and mobile logins and phone calls over the last 12 months. (3) Engaged bank customers are Deposit customers, acquired in the last six months, defined by several factors including multiple account ownership, and based on the frequency, intensity, or depth of interaction between customers and a product, feature, or service (e.g., smart savings tools and direct deposit). (4) Source: FDIC, FFIEC Call Reports and Company filings of branchless banks including Marcus, Discover, American Express, Synchrony. (5) New account openings completed digitally represents percentage of Deposit, Ally Invest and Credit Card applications submitted digitally versus non-digitally (i.e., through Contact Center) over the last 12 months. (6) ‘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 Page – 15 | Ally Bank: Leading, Growing & Diversified (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 $245 million in 2Q 2022, $248 million in 1Q 2022, and $218 million in 2Q 2021. Page – 18 | 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. 32

2Q 2022 Preliminary Results Supplemental Additional Notes Page – 19 | Insurance (2) Acquisition and underwriting expenses includes corporate allocations of $22 million in 2Q 2022, $23 million in 1Q 2022, and $20 million in 2Q 2021. (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 – 20 | Corporate Finance (2) Noninterest expense includes corporate allocations of $11 million in 2Q 2022, $13 million in 1Q 2022, and $9 million in 2Q 2021. (3) Change in fair value of equity securities impacts the Corporate Finance segment. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. Page – 21 | Mortgage Finance (1) Noninterest expense includes corporate allocations of $30 million in 2Q 2022, $27 million in 1Q 2022, and $21 million in 2Q 2021. (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

2Q 2022 Preliminary Results Supplemental GAAP to Core Results: Adjusted EPS Adjusted Earnings per Share ( Adjusted EPS ) QUARTERLY TREND 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 Numerator ($ millions) GAAP net income attributable to common shareholders $ 454 $ 627 $ 624 $ 683 $ 900 $ 796 $ 687 $ 476 $ 241 $ (319) $ 378 $ 381 $ 582 Discontinued operations, net of tax - - 6 - (1) - - - 1 - 3 - 2 Core OID 10 10 9 9 9 10 9 9 9 8 8 7 7 Repositioning Items - - 107 52 70 - - - 50 - - - - Change in fair value of equity securities 136 66 ( 21) 65 (19) ( 17) (111) (13) ( 90) 185 (29) 11 (2) Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (31) (16) ( 20) ( 26) (13) 1 21 1 17 ( 41) 4 (4) (1) Significant discrete tax items - - - - ( 78) - - - - - - - (201) Core net income / (loss) attributable to common shareholders [a] $ 570 $ 687 $ 705 $ 782 $ 868 $ 790 $ 606 $ 473 $ 228 $ (166) $ 364 $ 396 $ 387 Denominator Weighted-average common shares outstanding - (Diluted, thousands) [b] 3 24,027 337,812 348,666 361,855 373,029 377,529 3 78,424 377,011 375,762 3 75,723 383,391 3 92,604 399,916 Metric GAAP EPS $ 1.40 $ 1.86 $ 1.79 $ 1.89 $ 2.41 $ 2.11 $ 1.82 $ 1.26 $ 0.64 $ (0.85) $ 0.99 $ 0.97 $ 1.46 Discontinued operations, net of tax - - 0.02 - (0.00) - - - 0.00 - 0.01 - 0.01 Core OID 0.03 0.03 0.03 0.03 0.02 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02 Change in fair value of equity securities 0.42 0.19 (0.06) 0.18 (0.05) (0.04) (0.29) (0.04) (0.24) 0.49 (0.08) 0.03 (0.01) Repositioning Items - - 0.31 0.14 0.19 - - - 0.13 - - - - Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (0.09) (0.05) (0.06) (0.07) (0.03) 0.00 0.06 0.00 0.05 (0.11) 0.01 (0.01) (0.00) Significant discrete tax items - - - - (0.21) - - - - - - - (0.50) Adjusted EPS [a] / [b] $ 1.76 $ 2.03 $ 2.02 $ 2.16 $ 2.33 $ 2.09 $ 1.60 $ 1.25 $ 0.61 $ (0.44) $ 0.95 $ 1.01 $ 0.97 (1) Due to antidilutive effect of the net loss from pre-tax loss from continuing operations attributable to common shareholders for the first quarter 2020, basic weighted average common shares outstanding were used to calculate diluted earnings per share. 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

2Q 2022 Preliminary Results Supplemental GAAP to Core Results: Adjusted TBVPS Adjusted Tangible Book Value per Share ( Adjusted TBVPS ) QUARTERLY TREND 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 Numerator ($ billions) GAAP shareholder's equity $ 14.0 $ 15.4 $ 17.1 $ 17.3 $ 17.5 $ 14.6 $ 14.7 $ 14.1 $ 13.8 $ 13.5 $ 14.4 $ 14.5 $ 14.3 less: Preferred equity ( 2.3) (2.3) (2.3) (2.3) ( 2.3) - - - - - - - - GAAP common shareholder's equity $ 11.7 $ 13.1 $ 14.7 $ 15.0 $ 15.2 $ 14.6 $ 14.7 $ 14.1 $ 13.8 $ 13.5 $ 14.4 $ 14.5 $ 14.3 Goodwill and identifiable intangibles, net of DTLs ( 0.9) ( 0.9) (0.9) (0.4) ( 0.4) (0.4) (0.4) (0.4) (0.4) ( 0.4) (0.5) (0.3) (0.3) Tangible common equity 10.7 12.2 13.8 14.6 14.8 14.2 14.3 13.7 13.4 13.1 14.0 14.2 14.0 Tax-effected Core OID balance (assumes 21% tax rate) ( 0.7) (0.7) ( 0.7) (0.7) ( 0.8) ( 0.8) ( 0.8) (0.8) (0.8) (0.8) (0.8) ( 0.8) (0.9) Adjusted tangible book value [a] $ 10.1 $ 11.5 $ 13.1 $ 13.9 $ 14.1 $ 13.4 $ 13.5 $ 12.9 $ 12.6 $ 12.2 $ 13.1 $ 13.3 $ 13.2 Denominator Issued shares outstanding (period-end, thousands) [b] 3 12,781 3 27,306 3 37,941 3 49,599 362,639 371,805 374,674 373,857 373,837 373,155 374,332 383,523 3 92,775 Metric GAAP common shareholder's equity per share $ 37.3 $ 40.0 $ 43.6 $ 42.8 $ 41.9 $ 39.3 $ 39.2 $ 37.8 $ 37.0 $ 36.2 $ 38.5 $ 37.7 $ 36.4 Goodwill and identifiable intangibles, net of DTLs per share (2.9) (2.8) ( 2.8) (1.1) ( 1.0) (1.0) (1.0) ( 1.0) ( 1.0) (1.2) ( 1.2) (0.7) ( 0.7) Tangible common equity per share 34.3 37.1 40.8 41.8 40.9 38.3 38.2 36.7 35.9 35.0 37.3 37.0 35.7 Tax-effected Core OID balance (assumes 21% tax rate) per share ( 2.2) (2.1) (2.1) (2.0) (2.1) (2.2) ( 2.2) (2.2) (2.2) (2.2) (2.2) (2.2) ( 2.2) Adjusted tangible book value per share [a] / [b] $ 32.2 $ 35.0 $ 38.7 $ 39.7 $ 38.8 $ 36.2 $ 36.1 $ 34.6 $ 33.7 $ 32.8 $ 35.1 $ 34.7 $ 33.6 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

2Q 2022 Preliminary Results Supplemental GAAP to Core Results: Core ROTCE Core Return on Tangible Common Equity ( Core ROTCE ) QUARTERLY TREND 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 Numerator ($ millions) GAAP net income attributable to common shareholders $ 454 $ 627 $ 624 $ 683 $ 900 $ 796 $ 687 $ 476 $ 241 $ (319) $ 378 $ 381 $ 582 Discontinued operations, net of tax - - 6 - (1) - - - 1 - 3 - 2 Core OID 10 10 9 9 9 10 9 9 9 8 8 7 7 Repositioning Items - - 107 52 70 - - - 50 - - - - Change in fair value of equity securities 136 66 ( 21) 65 (19) (17) (111) (13) ( 90) 185 (29) 11 (2) Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) ( 31) ( 16) ( 20) ( 26) ( 13) 1 21 1 17 ( 41) 4 (4) (1) Significant discrete tax items & other - - - - (78) - - - - - - - (201) Core net income / (loss) attributable to common shareholders [a] $ 570 $ 687 $ 705 $ 782 $ 868 $ 790 $ 606 $ 473 $ 228 $ (166) $ 364 $ 396 $ 387 Denominator (Average, $ billions) GAAP shareholder's equity $ 14.7 $ 16.2 $ 17.2 $ 17.4 $ 16.1 $ 14.7 $ 14.4 $ 14.0 $ 13.7 $ 14.0 $ 14.4 $ 14.4 $ 14.0 less: Preferred equity ( 2.3) ( 2.3) (2.3) (2.3) (1.2) - - - - - - - - GAAP common shareholder's equity $ 12.4 $ 13.9 $ 14.8 $ 15.1 $ 14.9 $ 14.7 $ 14.4 $ 14.0 $ 13.7 $ 14.0 $ 14.4 $ 14.4 $ 14.0 Goodwill & identifiable intangibles, net of deferred tax liabilities ( DTLs ) ( 0.9) (0.9) (0.7) ( 0.4) (0.4) (0.4) (0.4) ( 0.4) (0.4) ( 0.4) (0.4) (0.3) (0.3) Tangible common equity $ 11.4 $ 13.0 $ 14.2 $ 14.7 $ 14.5 $ 14.3 $ 14.0 $ 13.6 $ 13.3 $ 13.5 $ 14.1 $ 14.1 $ 13.7 Core OID balance ( 0.9) ( 0.9) ( 0.9) (0.9) ( 1.0) ( 1.0) (1.0) ( 1.0) ( 1.1) ( 1.1) (1.1) (1.1) (1.1) Net deferred tax asset ( DTA ) (0.8) (0.4) ( 0.6) ( 0.9) ( 0.6) ( 0.1) (0.1) (0.1) ( 0.2) (0.1) (0.0) (0.1) ( 0.1) Normalized common equity [b] $ 9.8 $ 11.7 $ 12.7 $ 12.9 $ 13.0 $ 13.1 $ 12.9 $ 12.4 $ 12.0 $ 12.3 $ 13.0 $ 12.9 $ 12.5 Core Return on Tangible Common Equity [a] / [b] 23.2% 23.6% 22.1% 24.2% 26.7% 24.1% 18.7% 15.2% 7.6% -5.4% 11.2% 12.3% 12.4% Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is 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

2Q 2022 Preliminary Results Supplemental GAAP to Core Results: Adjusted Efficiency Ratio Adjusted Efficiency Ratio QUARTERLY TREND 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 Numerator ($ millions) GAAP noninterest expense $ 1,138 $ 1,122 $ 1,090 $ 1,002 $ 1,075 Rep and warrant expense - - - - - Insurance expense (300) (274) (263) (273) (272) Repositioning items - - - - - Adjusted noninterest expense for efficiency ratio [a] $ 838 $ 848 $ 827 $ 729 $ 803 Denominator ($ millions) Total net revenue $ 2,076 $ 2,135 $ 2,199 $ 1,985 $ 2,085 Core OID 10 10 9 9 9 Repositioning items - - 9 52 70 Insurance revenue (178) (287) (354) (297) (359) Adjusted net revenue for the efficiency ratio [b] $ 1,908 $ 1,858 $ 1,864 $ 1,749 $ 1,805 Adjusted Efficiency Ratio [a] / [b] 43.9% 45.6% 44.4% 41.7% 44.5% 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 19 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance segment. 37

2Q 2022 Preliminary Results Supplemental Non-GAAP Reconciliation: Core Income ($ millions) 2Q 22 1Q 22 2Q 21 Change in fair Change in fair Change in fair (1) (1) (1) GAAP Core OID value of equity Repositioning Non-GAAP GAAP Core OID value of equity Repositioning Non-GAAP GAAP Core OID value of equity Repositioning Non-GAAP securities securities securities Consolidated Ally Net financing revenue $ 1,764 $ 10 $ - $ - 1,774 $ 1,693 $ 10 $ - $ - 1 ,703 $ 1,547 $ 9 $ - $ - 1 ,556 Total other revenue 312 - 136 - 448 442 - 66 - 508 538 - ( 19) 70 588 Provision for credit losses 304 - - - 304 167 - - - 167 (32) - - - (32) Noninterest expense 1 ,138 - - - 1,138 1,122 - - - 1 ,122 1,075 - - - 1,075 Pre-tax income $ 634 $ 10 $ 136 $ - $ 780 $ 846 $ 10 $ 66 $ - $ 921 $ 1,042 $ 9 $ (19) $ 70 $ 1,102 Corporate / Other Net financing revenue $ 310 $ 10 $ - $ - $ 320 $ 245 $ 10 $ - $ - $ 255 $ 99 $ 9 $ - $ - $ 108 Total other revenue 59 - 0 - 59 66 - 0 - 66 78 - (1) (70) 8 Provision for credit losses 68 - - - 68 57 - - - 57 4 - - - 4 Noninterest expense 211 - - - 211 221 - - - 221 230 - - - 230 Pre-tax income $ 90 $ 10 $ 0 $ - $ 101 $ 33 $ 10 $ 0 $ - $ 43 $ (57) $ 9 $ (1) $ (70) $ (118) Insurance Premiums, service revenue earned and other $ 285 $ - $ - $ - $ 285 $ 284 $ - $ - $ - $ 284 $ 283 $ - $ - $ - $ 283 Losses and loss adjustment expenses 89 - - - 89 58 - - - 58 74 - - - 74 Acquisition and underwriting expenses 211 - - - 211 216 - - - 216 198 - - - 198 Investment income and other (107) - 136 - 29 3 - 61 - 64 76 - (20) - 56 Pre-tax income $ (122) $ - $ 136 $ - $ 14 $ 13 $ - $ 61 $ - $ 74 $ 87 $ - $ (20) $ - $ 67 Corporate Finance Net financing revenue $ 77 $ - $ - $ - $ 77 $ 83 $ - $ - $ - $ 83 $ 77 $ - $ - $ - $ 77 Total other revenue 19 - ( 0) - 19 24 - 4 - 28 33 - 1 - 34 Provision for credit losses 8 - - - 8 6 - - - 6 (13) - - - (13) Noninterest expense 28 - - - 28 37 - - - 37 28 - - - 28 Pre-tax income $ 60 $ - $ (0) $ - $ 60 $ 64 $ - $ 4 $ - $ 68 $ 95 $ - $ 1 $ - $ 96 (1) Non-GAAP line items walk to Core pre-tax income, a non-GAAP financial measure that adjusts pre-tax income. See pages 29 and 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. 38

2Q 2022 Preliminary Results Supplemental Non-GAAP Reconciliations Net Financing Revenue (ex. Core OID) QUARTERLY TREND ($ millions) 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 GAAP Net Financing Revenue [x] $ 1,764 $ 1,693 $ 1,654 $ 1,594 $ 1,547 $ 1,372 $ 1,303 $ 1 ,200 $ 1,054 $ 1,146 $ 1 ,156 $ 1,188 $ 1,157 Core OID 10 10 9 9 9 10 9 9 9 8 8 7 7 Net Financing Revenue (ex. Core OID) [a] $ 1,774 $ 1,703 $ 1,663 $ 1,603 $ 1,556 $ 1 ,382 $ 1,312 $ 1,209 $ 1,063 $ 1,154 $ 1 ,164 $ 1 ,195 $ 1,164 Adjusted Other Revenue QUARTERLY TREND ($ millions) 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 GAAP Other Revenue [y] $ 312 $ 442 $ 545 $ 391 $ 538 $ 565 $ 678 $ 484 $ 555 $ 266 $ 487 $ 413 $ 395 Accelerated OID & repositioning items - - 9 52 70 - - - - - - - - Change in fair value of equity securities 136 66 (21) 65 (19) (17) (111) (13) (90) 185 (29) 11 (2) Adjusted Other Revenue [b] $ 448 $ 508 $ 533 $ 507 $ 588 $ 548 $ 567 $ 471 $ 465 $ 451 $ 458 $ 424 $ 393 Adjusted NIE (ex. Repositioning) QUARTERLY TREND ($ millions) 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 GAAP Noninterest Expense [z] $ 1,138 $ 1,122 $ 1,090 $ 1,002 $ 1,075 $ 943 $ 1 ,023 $ 905 $ 985 $ 920 $ 880 $ 838 $ 881 Repositioning - - - - - - - - 50 - - - - Adjusted NIE (ex. Repositioning) [c] $ 1,138 $ 1,122 $ 1,090 $ 1,002 $ 1,075 $ 943 $ 1,023 $ 905 $ 935 $ 920 $ 880 $ 838 $ 881 Core Pre-Provision Net Revenue QUARTERLY TREND ($ millions) 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 Pre-Provision Net Revenue [x]+[y]-[z] 938 1 ,013 1 ,109 983 1,010 994 958 779 624 492 763 763 671 Core Pre-Provision Net Revenue [a]+[b]-[c] $ 1,084 $ 1,088 $ 1,107 $ 1,108 $ 1,070 $ 987 $ 856 $ 775 $ 593 $ 686 $ 742 $ 782 $ 676 Adjusted Total Net Revenue ($ millions) Adjusted Total Net Revenue [a]+[b] $ 2,222 $ 2,210 $ 2,197 $ 2,110 $ 2,145 $ 1,930 $ 1,879 $ 1,680 $ 1,528 $ 1,606 $ 1 ,622 $ 1 ,620 $ 1 ,557 Original issue discount amortization expense QUARTERLY TREND ($ millions) 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 (1) Core original issue discount (Core OID) amortization expense $ 10 $ 10 $ 9 $ 9 $ 9 $ 10 $ 9 $ 9 $ 9 $ 8 $ 8 $ 7 $ 7 Other OID 2 3 3 3 3 3 3 3 4 3 3 3 3 GAAP original issue discount amortization expense $ 13 $ 13 $ 12 $ 12 $ 12 $ 12 $ 13 $ 12 $ 12 $ 11 $ 11 $ 11 $ 10 Outstanding original issue discount balance QUARTERLY TREND ($ millions) 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 2Q 19 Core outstanding original issue discount balance (Core OID balance) $ (863) $ ( 873) $ ( 883) $ ( 900) $ ( 952) $ (1,018) $ (1,027) $ (1,037) $ (1,046) $ (1,055) $ (1,063) $ (1,071) $ (1,078) Other outstanding OID balance (39) (37) (40) (29) (32) (34) (37) (48) (46) (34) (37) (40) (44) GAAP outstanding original issue discount balance $ ( 901) $ ( 911) $ ( 923) $ ( 929) $ ( 983) $ (1,052) $ (1,064) $ (1,084) $ (1,092) $ (1,089) $ (1,100) $ (1,111) $ (1,122) 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. 39

Exhibit 99.3

LOGO

SECOND QUARTER 2022

FINANCIAL SUPPLEMENT

ALLY FINANCIAL INC.

FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION

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

This document and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts—such as statements about the outlook for financial and operating metrics, and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2021, 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.


2Q 2022 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


2Q 2022 Preliminary Results		3

ALLY FINANCIAL INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS


($ in millions, shares in thousands)	QUARTERLY TRENDS										CHANGE VS.
Selected Income Statement Data	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22		2Q 21

Net financing revenue (excluding Core OID) ⁽¹⁾	$	1,774	$	1,703	$	1,663	$	1,603	$	1,556	$	71	$	218

Core OID		(10)		(10)		(9)		(9)		(9)		—		(1)

Net financing revenue (as reported)		1,764		1,693		1,654		1,594		1,547		71		217

Other revenue (adjusted) ⁽¹⁾		448		508		533		507		588		(59)		(140)

Change in fair value of equity securities ⁽²⁾		(136)		(66)		21		(65)		19		(71)		(156)

Repositioning ⁽²⁾		—		—		(9)		(52)		(70)		—		70

Other revenue (as reported)		312		442		545		391		538		(130)		(226)

Provision for loan losses		304		167		210		76		(32)		137		336

Total noninterest expense ⁽³⁾		1,138		1,122		1,090		1,002		1,075		16		63


Pre-tax income from continuing operations		634		846		899		907		1,042		(212)		(408)

Income tax expense		152		191		241		195		143		(39)		9

(Loss) income from discontinued operations, net of tax		—		—		(6)		—		1		—		(1)


Net Income		482		655		652		712		900		(173)		(418)

Preferred Dividends		28		28		28		29		—		—		28


Net income attributable to common shareholders	$	454	$	627	$	624	$	683	$	900	$	(173)	$	(446)


Core Pre-Provision Net Revenue ⁽⁴⁾	$	1,084	$	1,088	$	1,107	$	1,108	$	1,070	$	(4)	$	15

Selected Balance Sheet Data (Period-End)

Total assets	$	185,703	$	184,297	$	182,350	$	179,184	$	180,470	$	1,406	$	5,233

Consumer loans		103,683		99,869		98,226		95,052		90,649		3,814		13,034

Commercial loans		24,774		25,496		24,042		19,419		21,568		(722)		3,206

Allowance for loan losses		(3,450)		(3,301)		(3,267)		(3,148)		(3,126)		(149)		(324)

Deposits		140,401		142,475		141,558		139,444		139,104		(2,074)		1,297

Total equity		13,984		15,413		17,050		17,289		17,530		(1,429)		(3,546)

Common Share Count

Weighted average basic		322,057		335,678		345,870		359,179		370,412		(13,621)		(48,355)

Weighted average diluted		324,027		337,812		348,666		361,855		373,029		(13,784)		(49,001)

Issued shares outstanding (period-end)		312,781		327,306		337,941		349,599		362,639		(14,525)		(49,857)

Per Common Share Data

Earnings per share (basic)	$	1.41	$	1.87	$	1.80	$	1.90	$	2.43	$	(0.46)	$	(1.02)

Earnings per share (diluted)		1.40		1.86		1.79		1.89		2.41		(0.45)		(1.01)

Adjusted earnings per share ⁽¹⁾		1.76		2.03		2.02		2.16		2.33		(0.27)		(0.57)

Book value per share		37.28		39.99		43.58		42.81		41.93		(2.71)		(4.65)

Tangible book value per share ⁽⁵⁾		34.34		37.14		40.79		41.75		40.90		(2.81)		(6.57)

Adjusted tangible book value per share ⁽⁵⁾		32.16		35.04		38.73		39.72		38.83		(2.88)		(6.67)

Select Financial Ratios

Net interest margin (as reported)		4.04%		3.93%		3.80%		3.66%		3.55%

Net interest margin (ex. Core OID) ⁽¹⁾		4.06%		3.95%		3.82%		3.68%		3.57%

Cost of funds		1.16%		1.03%		1.06%		1.14%		1.27%

Cost of funds (ex. Core OID) ⁽¹⁾		1.12%		0.99%		1.03%		1.11%		1.23%

Efficiency Ratio ⁽⁶⁾		54.8%		52.6%		49.6%		50.5%		51.6%

Adjusted efficiency ratio ⁽⁶⁾		43.9%		45.6%		44.4%		41.7%		44.5%

Return on average assets		1.0%		1.4%		1.4%		1.5%		2.0%

Return on average total equity		12.4%		15.5%		14.5%		15.7%		22.4%

Return on average tangible common equity		15.9%		19.3%		17.6%		18.6%		24.8%

Core ROTCE ⁽⁷⁾		23.2%		23.6%		22.1%		24.2%		26.7%

Capital Ratios ⁽⁸⁾

Common Equity Tier 1 (CET1) capital ratio		9.6%		10.0%		10.3%		11.2%		11.3%

Tier 1 capital ratio		11.1%		11.5%		11.9%		12.8%		13.1%

Total capital ratio		12.7%		13.1%		13.5%		14.6%		14.8%

Tier 1 leverage ratio		9.1%		9.4%		9.7%		10.0%		10.0%

(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.


2Q 2022 Preliminary Results		4

ALLY FINANCIAL INC.

CONSOLIDATED INCOME STATEMENT


	QUARTERLY TRENDS															CHANGE VS.
($ in millions)	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Financing revenue and other interest income

Interest and fees on finance receivables and loans	$	1,842		$	1,714		$	1,679		$	1,619		$	1,588		$	128		$	254

Interest on loans held-for-sale		4			4			4			5			4			—			—

Total interest and dividends on investment securities		195			183			162			150			143			12			52

Interest-bearing cash		5			2			2			5			4			3			1

Other earning assets		8			5			5			5			4			3			4

Operating leases		396			403			403			393			384			(7	)		12


Total financing revenue and other interest income		2,450			2,311			2,255			2,177			2,127			139			323

Interest expense

Interest on deposits		263			211			226			245			268			52			(5	)

Interest on short-term borrowings		19			5			—			—			—			14			19

Interest on long-term debt		184			185			189			191			230			(1	)		(46	)

Interest on other		1			—			—			8			—			1			1


Total interest expense		467			401			415			444			498			66			(31	)

Depreciation expense on operating lease assets		219			217			186			139			82			2			137


Net financing revenue (as reported)	$	1,764		$	1,693		$	1,654		$	1,594		$	1,547		$	71		$	217

Other revenue

Insurance premiums and service revenue earned		280			280			280			279			278			—			2

Gain on mortgage and automotive loans, net		4			14			14			18			19			(10	)		(15	)

Loss on extinguishment of debt		—			—			(10	)		(52	)		(73	)		—			73

Other (loss) / gain on investments, net		(124	)		5			73			24			65			(129	)		(189	)

Other income, net of losses		152			143			188			122			249			9			(97	)


Total other revenue		312			442			545			391			538			(130	)		(226	)

Total net revenue		2,076			2,135			2,199			1,985			2,085			(59	)		(9	)

Provision for loan losses		304			167			210			76			(32	)		137			336

Noninterest expense

Compensation and benefits expense		437			493			413			389			446			(56	)		(9	)

Insurance losses and loss adjustment expenses		89			58			55			69			74			31			15

Other operating expenses		612			571			622			544			555			41			57


Total noninterest expense		1,138			1,122			1,090			1,002			1,075			16			63

Pre-tax income from continuing operations	$	634		$	846		$	899		$	907		$	1,042		$	(212	)	$	(408	)

Income tax expense from continuing operations		152			191			241			195			143			(39	)		9


Net income from continuing operations		482			655			658			712			899			(173	)		(417	)

Income / (Loss) from discontinued operations, net of tax		—			—			(6	)		—			1			—			(1	)


Net income		482			655			652			712			900			(173	)		(418	)

Preferred Dividends		28			28			28			29			—			—			28


Net Income Available to Common Shareholders	$	454		$	627		$	624		$	683		$	900		$	(173	)	$	(446	)


Core Pre-Tax Income Walk

Net financing revenue (ex. OID) ⁽¹⁾	$	1,774		$	1,703		$	1,663		$	1,603		$	1,556		$	71		$	218

Adjusted other revenue ⁽¹⁾		448			508			533			507			588			(59	)		(140	)

Provision for credit losses		304			167			113			76			(32	)		137			336

Adjusted noninterest expense ⁽¹⁾		1,138			1,122			1,090			1,002			1,075			16			63


Core pre-tax income ⁽²⁾	$	780		$	921		$	994		$	1,032		$	1,102		$	(141	)	$	(321	)

Core OID		(10	)		(10	)		(9	)		(9	)		(9	)		—			(1	)

Change in the fair value of equity securities ⁽³⁾		(136	)		(66	)		21			(65	)		19			(71	)		(156	)

Repositioning ⁽³⁾		—			—			(107	)		(52	)		(70	)		—			70


Pre-tax income from continuing operations	$	634		$	846		$	899		$	907		$	1,042		$	(212	)	$	(408	)

(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.


2Q 2022 Preliminary Results		5

ALLY FINANCIAL INC.

CONSOLIDATED PERIOD-END BALANCE SHEET


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Assets	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Cash and cash equivalents

Noninterest-bearing	$	801		$	470		$	502		$	636		$	653		$	331		$	148

Interest-bearing		3,366			3,462			4,560			10,279			13,011			(96	)		(9,645	)


Total cash and cash equivalents		4,167			3,932			5,062			10,915			13,664			235			(9,497	)

Investment securities ⁽¹⁾		33,590			35,413			35,859			35,317			36,313			(1,823	)		(2,723	)

Loans held-for-sale, net		798			471			549			456			409			327			389

Finance receivables and loans, net		128,457			125,365			122,268			114,471			112,217			3,092			16,240

Allowance for loan losses		(3,450	)		(3,301	)		(3,267	)		(3,148	)		(3,126	)		(149	)		(324	)


Total finance receivables and loans, net		125,007			122,064			119,001			111,323			109,091			2,943			15,916

Investment in operating leases, net		10,516			10,730			10,862			10,969			10,715			(214	)		(199	)

Premiums receivables and other insurance assets		2,743			2,730			2,724			2,752			2,773			13			(30	)

Other assets		8,882			8,957			8,293			7,452			7,505			(75	)		1,377


Total assets	$	185,703		$	184,297		$	182,350		$	179,184		$	180,470		$	1,406		$	5,233


Liabilities

Deposit liabilities

Noninterest-bearing	$	185		$	175		$	150		$	167		$	149		$	10		$	36

Interest-bearing		140,216			142,300			141,408			139,277			138,955			(2,084	)		1,261


Total deposit liabilities		140,401			142,475			141,558			139,444			139,104			(2,074	)		1,297

Short-term borrowings		7,775			3,950			—			—			—			3,825			7,775

Long-term debt		16,984			15,885			17,029			14,946			16,896			1,099			88

Interest payable		270			302			210			422			365			(32	)		(95	)

Unearned insurance premiums and service revenue		3,490			3,500			3,514			3,537			3,536			(10	)		(46	)

Accrued expense and other liabilities		2,799			2,772			2,989			3,546			3,039			27			(240	)


Total liabilities	$	171,719		$	168,884		$	165,300		$	161,895		$	162,940		$	2,835		$	8,779

Equity

Common stock and paid-in capital ⁽²⁾	$	15,390		$	15,956		$	16,483		$	17,050		$	17,716		$	(566	)	$	(2,326	)

Preferred stock		2,324			2,324			2,324			2,324			2,324			—			—

Accumulated deficit		(721	)		(1,076	)		(1,599	)		(2,136	)		(2,726	)		355			2,005

Accumulated other comprehensive income / (loss)		(3,009	)		(1,791	)		(158	)		51			216			(1,218	)		(3,225	)


Total equity		13,984			15,413			17,050			17,289			17,530			(1,429	)		(3,546	)


Total liabilities and equity	$	185,703		$	184,297		$	182,350		$	179,184		$	180,470		$	1,406		$	5,233

(1)

Includes Held-to-maturity securities.

(2)

Includes Treasury stock.


2Q 2022 Preliminary Results		6

ALLY FINANCIAL INC.

CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Assets	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Interest-bearing cash and cash equivalents	$	3,761		$	4,027		$	6,532		$	13,055		$	16,564		$	(266	)	$	(12,803	)

Investment securities and other earning assets		34,679			36,664			36,809			35,193			36,462			(1,985	)		(1,783	)

Loans held-for-sale, net		420			570			461			464			454			(150	)		(34	)

Total finance receivables and loans, net ⁽²⁾		125,628			122,772			118,135			112,907			110,961			2,856			14,667

Investment in operating leases, net		10,615			10,878			10,951			10,919			10,355			(263	)		260


Total interest earning assets		175,103			174,911			172,888			172,538			174,796			192			307

Noninterest-bearing cash and cash equivalents		343			422			505			526			494			(79	)		(151	)

Other assets		10,510			9,825			9,568			9,328			8,978			685			1,532

Allowance for loan losses		(3,339	)		(3,279	)		(3,168	)		(3,152	)		(3,172	)		(60	)		(167	)


Total assets	$	182,617		$	181,879		$	179,793		$	179,240		$	181,096		$	738		$	1,521


Liabilities

Interest-bearing deposit liabilities

Retail deposit liabilities	$	132,111		$	135,046		$	132,706		$	130,414		$	128,787		$	(2,935	)	$	3,324

Other interest-bearing deposit liabilities ⁽³⁾		7,522			6,340			7,172			8,670			10,446			1,182			(2,924	)


Total Interest-bearing deposit liabilities		139,633			141,387			139,878			139,084			139,233			(1,754	)		400

Short-term borrowings		5,695			980			—			—			—			4,715			5,695

Long-term debt ⁽⁴⁾		16,231			16,410			15,493			15,487			18,411			(179	)		(2,180	)


Total interest-bearing liabilities ⁽⁴⁾		161,559			158,777			155,371			154,571			157,644			2,782			3,915

Noninterest-bearing deposit liabilities		181			171			165			160			149			10			32

Other liabilities		6,408			6,772			6,731			6,852			6,802			(364	)		(394	)


Total liabilities	$	168,148		$	165,720		$	162,267		$	161,583		$	164,595		$	2,428		$	3,553

Equity

Total equity	$	14,469		$	16,159		$	17,526		$	17,657		$	16,501		$	(1,690	)	$	(2,032	)


Total liabilities and equity	$	182,617		$	181,879		$	179,793		$	179,240		$	181,096		$	738		$	1,521

(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 $868 million in 2Q 2022, $878 million in 1Q 2022, $889 million in 4Q 2021, $905 in Q3 2021, and $989 million in 2Q 2021.


2Q 2022 Preliminary Results		7

ALLY FINANCIAL INC.

SEGMENT HIGHLIGHTS


($ in millions)
	QUARTERLY TRENDS														CHANGE VS.

Pre-tax Income / (Loss)	2Q 22			1Q 22		4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Automotive Finance	$	600		$	725	$	839		$	825		$	917		$	(125	)	$	(317	)

Insurance		(122	)		13		91			24			87			(135	)		(209	)


Dealer Financial Services		478			738		930			849			1,004			(260	)		(526	)

Corporate Finance		60			64		73			61			95			(4	)		(35	)

Mortgage Finance		6			11		3			6			—			(5	)		6

Corporate and Other ⁽¹⁾		90			33		(107	)		(9	)		(57	)		57			147


Pre-tax income from continuing operations	$	634		$	846	$	899		$	907		$	1,042		$	(212	)	$	(408	)

Core OID ⁽²⁾		10			10		9			9			9			—			1

Change in the fair value of equity securities ⁽³⁾		136			66		(21	)		65			(19	)		71			156

Repositioning ⁽⁴⁾		—			—		107			52			70			—			(70	)


Core pre-tax income ⁽⁴⁾	$	780		$	921	$	994		$	1,032		$	1,102		$	(141)		$	(321	)

(1)

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

(2)

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

(3)

See page 25 for methodology and detail.

(4)

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


2Q 2022 Preliminary Results		8

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS


($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Income Statement	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Net financing revenue

Consumer	$	1,362		$	1,302		$	1,339		$	1,320		$	1,288		$	60		$	74

Commercial		142			129			116			112			125			13			17

Operating leases		396			403			403			393			384			(7	)		12


Total financing revenue and other interest income		1,900			1,834			1,858			1,825			1,797			66			103

Interest expense		380			322			331			357			382			58			(2	)

Depreciation expense on operating lease assets:

Depreciation expense on operating lease assets (ex. remarketing)		269			266			251			226			210			3			59

Remarketing gains		50			50			65			86			128			—			(78	)


Total depreciation expense on operating lease assets		219			217			186			139			82			2			137


Net financing revenue		1,301			1,295			1,341			1,329			1,333			6			(32	)

Other revenue


Total other revenue		72			68			67			61			61			4			11


Total net revenue		1,373			1,363			1,408			1,390			1,394			10			(21	)

Provision for credit losses		228			104			45			53			(23	)		124			251

Noninterest expense

Compensation and benefits		152			168			146			136			144			(16	)		8

Other operating expenses		393			366			378			376			356			27			37


Total noninterest expense		545			534			524			512			500			11			45


Pre-tax Income	$	600		$	725		$	839		$	825		$	917		$	(125	)	$	(317	)


Memo: Net lease revenue

Operating lease revenue	$	396		$	403		$	403		$	393		$	384		$	(7	)	$	12

Depreciation expense on operating lease assets (ex. remarketing)		269			266			251			226			210			3			59

Remarketing gains, net of repo valuation		50			50			65			86			128			—			(78	)


Total depreciation expense on operating lease assets		219			217			186			139			82			2			137


Net lease revenue	$	177		$	186		$	217		$	254		$	302		$	(9	)	$	(125	)


Balance Sheet (Period-End)

Cash, trading and investment securities	$	23		$	24		$	23		$	23		$	23		$	(1	)	$	—

Consumer loans		82,191			79,262			78,289			77,683			75,827			2,929			6,364

Commercial loans		16,109			17,295			16,074			12,587			15,219			(1,186	)		890

Allowance for loan losses		(2,914	)		(2,794	)		(2,802	)		(2,851	)		(2,848	)		(120	)		(66	)


Total finance receivables and loans, net		95,386			93,763			91,561			87,419			88,198			1,623			7,188

Investment in operating leases, net		10,516			10,730			10,862			10,969			10,715			(214	)		(199	)

Other assets		1,253			1,237			1,207			1,206			1,226			16			27


Total assets	$	107,178		$	105,754		$	103,653		$	99,617		$	100,162		$	1,424		$	7,016


2Q 2022 Preliminary Results		9

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - KEY STATISTICS


	QUARTERLY TRENDS										CHANGE VS.
	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22			2Q 21

*U.S. Consumer Originations ⁽¹⁾($ in billions)***

Retail standard - new vehicle GM	$	1.1	$	0.9	$	0.8	$	0.9	$	1.2	$	0.2		$	(0.1	)

Retail standard - new vehicle Stellantis		0.9		1.0		1.0		1.1		1.2		(0.1	)		(0.2	)

Retail standard - new vehicle Growth		1.2		1.0		1.0		1.2		1.5		0.3			(0.2	)

Used vehicle		9.1		7.6		7.0		7.8		7.3		1.5			1.8

Lease		0.9		1.0		0.9		1.3		1.8		(0.1	)		(0.9	)

Retail subvented		0.0		0.1		0.1		0.1		0.0		(0.1	)		0.0


Total originations	$	13.3	$	11.6	$	10.9	$	12.3	$	12.9	$	1.7		$	0.3

U.S. Consumer Originations - FICO Score

Super prime (760-999)	$	2.0	$	1.8	$	1.6	$	1.9	$	2.1	$	0.3		$	(0.1	)

High prime (720-759)		1.7		1.4		1.3		1.5		1.6		0.2			0.1

Prime (660-719)		4.3		3.7		3.5		4.0		4.2		0.6			0.1

Prime/Near (620-659)		3.0		2.8		2.6		3.0		3.1		0.2			(0.1	)

Non-Prime (540-619)		1.2		0.9		1.0		1.0		1.0		0.3			0.1

Sub-Prime (0-539)		0.2		0.1		0.1		0.1		0.1		0.1			0.1

No FICO (Primarily CSG) ⁽²⁾		0.9		0.9		0.7		0.7		0.7		(0.1	)		0.1


Total originations	$	13.3	$	11.6	$	10.9	$	12.3	$	12.9	$	1.7		$	0.3

U.S. Consumer Retail Originations - Average FICO

New vehicle		698		697		697		694		691		1			7

Used vehicle		682		682		679		679		678		(1	)		4

Total retail originations		685		686		684		683		682		(1	)		3

U.S. Market

New light vehicle sales (SAAR - units in millions)		13.4		14.1		12.9		13.3		16.9		(0.8	)		(3.5	)

New light vehicle sales (quarterly - units in millions)		3.5		3.3		3.2		3.4		4.4		0.2			(0.9	)

Dealer Engagement

Total Active Dealers ⁽³⁾		22,408		21,688		21,076		20,353		19,650		720			2,758

Total Application Volume (000s)		3,296		3,169		2,933		3,258		3,529		128			(232	)

Ally U.S. Commercial Outstandings EOP ($ in billions)

Floorplan outstandings	$	11.0	$	12.4	$	11.1	$	7.6	$	10.0	$	(1.4	)	$	1.0

Dealer loans and other		5.1		4.9		4.9		5.0		5.2		0.2			(0.1	)


Total Commercial outstandings	$	16.1	$	17.3	$	16.1	$	12.6	$	15.2	$	(1.2	)	$	0.9

U.S. Off-Lease Remarketing

Off-lease vehicles terminated - on-balance sheet (# in units)		29,665		30,488		27,977		34,475		34,768		(823	)		(5,103	)

Average gain per vehicle	$	1,671	$	1,640	$	2,339	$	2,495	$	3,684	$	31		$	(2,013	)

Total gain ($ in millions)	$	50	$	50	$	65	$	86	$	128	$	—		$	(78	)

(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 35 - 40 bps on CSG loans from 2016 through 2Q22

(3)

Active Dealers include those who utilize one or more of Ally’s products including consumer and commercial lending, SmartAuction or Commercial Services Group


2Q 2022 Preliminary Results		10

ALLY FINANCIAL INC.

INSURANCE - CONDENSED FINANCIAL STATEMENTS AND KEY STATISTICS



($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Income Statement *(GAAP View)*	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Net financing revenue

Total interest and fees on finance receivables and loans⁽¹⁾	$	2		$	3		$	4		$	3		$	3		$	(1	)	$	(1	)

Interest and dividends on investment securities		29			26			26			25			26			3			3

Interest bearing cash		—			—			—			1			—			—			—


Total financing revenue and other interest revenue		31			29			30			29			29			2			2

Interest expense		11			12			15			15			14			(1	)		(3	)


Net financing revenue		20			17			15			14			15			3			5

Other revenue

Insurance premiums and service revenue earned		280			280			280			279			278			—			2

Other gain / (loss) on investments, net		(127	)		(14	)		56			1			61			(113	)		(188	)

Other income, net of losses		5			4			3			3			5			1			—


Total other revenue		158			270			339			283			344			(112	)		(186	)


Total net revenue		178			287			354			297			359			(109	)		(181	)

Noninterest expense

Compensation and benefits expense		24			28			23			23			24			(4	)		—

Insurance losses and loss adjustment expenses		89			58			55			69			74			31			15

Other operating expenses		187			188			185			181			174			(1	)		13


Total noninterest expense		300			274			263			273			272			26			28


Pre-tax (loss) income	$	(122	)	$	13		$	91		$	24		$	87		$	(135	)	$	(209	)


Memo: Income Statement (Managerial View)

Insurance premiums and other income

Insurance premiums and service revenue earned	$	280		$	280		$	280		$	279		$	278		$	—		$	2

Investment income (adjusted) ⁽²⁾		29			64			47			80			56			(34	)		(27	)

Other income		5			4			3			3			5			1			—


Total insurance premiums and other income		314			348			330			362			339			(33	)		(25	)

Expense

Insurance losses and loss adjustment expenses		89			58			55			69			74			31			15

Acquisition and underwriting expenses

Compensation and benefit expense		24			28			23			23			24			(4	)		—

Insurance commission expense		151			149			147			142			138			2			13

Other expense		36			39			38			39			36			(3	)		—


Total acquistion and underwriting expense		211			216			208			204			198			(5	)		13


Total expense		300			274			263			273			272			26			28


Core pre-tax income ⁽²⁾		14			74			67			89			67			(59	)		(53	)

Change in the fair value of equity securities ⁽²⁾		(136	)		(61	)		24			(65	)		20			(76	)		(156	)


(Loss) income before income tax expense	$	(122	)	$	13		$	91		$	24		$	87		$	(135	)	$	(209	)


Balance Sheet (Period-End)

Cash and investment securities	$	5,407		$	5,651		$	5,530		$	5,503		$	5,738		$	(244	)	$	(331	)

Intercompany loans⁽¹⁾		411			572			923			898			697			(161	)		(286	)

Premiums receivable and other insurance assets		2,755			2,741			2,735			2,761			2,782			14			(27	)

Other assets		246			256			193			192			177			(10	)		69


Total assets	$	8,819		$	9,220		$	9,381		$	9,354		$	9,394		$	(401	)	$	(575	)


Key Statistics

Total written premiums and revenue ⁽³⁾	$	262		$	265		$	268		$	295		$	301		$	(3	)	$	(39	)

Loss ratio ⁽⁴⁾		31.2	%		20.5	%		19.5	%		24.4	%		26.3	%

Underwriting expense ratio ⁽⁵⁾		74.8	%		76.0	%		73.4	%		72.0	%		70.4	%


Combined ratio		106.0	%		96.5	%		92.9	%		96.4	%		96.7	%

(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.


2Q 2022 Preliminary Results		11

ALLY FINANCIAL INC.

MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS


($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Net financing revenue

Total financing revenue and other interest income	$	139		$	130		$	119		$	106		$	89		$	9		$	50

Interest expense		83			77			77			70			66			6			17


Net financing revenue		56			53			42			36			23			3			33

Gain on mortgage loans, net		4			14			14			18			19			(10	)		(15	)

Other income, net of losses		—			—			(1	)		1			3			—			(3	)


Total other revenue		4			14			13			19			22			(10	)		(18	)


Total net revenue		60			67			55			55			45			(7	)		15


Provision for loan losses		—			—			1			2			—			—			—

Noninterest expense

Compensation and benefits expense		6			6			6			5			5			—			1

Other operating expense		48			50			45			42			40			(2	)		8


Total noninterest expense		54			56			51			47			45			(2	)		9


Pre-tax Income	$	6		$	11		$	3		$	6		$	—		$	(5	)	$	6


Balance Sheet (Period-End)

Finance receivables and loans, net:

Consumer loans	$	18,923		$	18,372		$	17,644		$	16,059		$	13,629		$	551		$	5,294

Allowance for loan losses		(20	)		(19	)		(19	)		(17	)		(15	)		(1	)		(5	)


Total finance receivables and loans, net		18,903			18,353			17,625			16,042			13,614			550			5,289

Other assets		223			243			222			286			251			(20	)		(28	)


Total assets	$	19,126		$	18,596		$	17,847		$	16,328		$	13,865		$	530		$	5,261


2Q 2022 Preliminary Results		12

ALLY FINANCIAL INC.

CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS


($ in millions)
	QUARTERLY TRENDS										CHANGE VS.
Income Statement	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22		2Q 21

Net financing revenue

Total financing revenue and other interest income	$	104	$	95	$	93	$	86	$	86	$	9	$	18

Interest expense		27		12		10		9		9		15		18


Net financing revenue		77		83		83		77		77		(6)		—

Total other revenue		19		24		53		16		33		(5)		(14)


Total net revenue		96		107		136		93		110		(11)		(14)

Provision for loan losses		8		6		33		5		(13)		2		21

Noninterest expense

Compensation and benefits expense		15		23		18		15		17		(8)		(2)

Other operating expense		13		14		12		12		11		(1)		2


Total noninterest expense		28		37		30		27		28		(9)		—


Pre-tax Income	$	60	$	64	$	73	$	61	$	95	$	(4)	$	(35)


Change in the fair value of equity securities ⁽¹⁾		(0)		4		2		(1)		1		(5)		(1)


Core pre-tax income ⁽²⁾	$	60	$	68	$	75	$	60	$	96	$	(9)	$	(36)


Balance Sheet (Period-End)

Equity securities	$	3	$	3	$	11	$	14	$	12	$	—	$	(9)

Loans held for sale		517		190		305		215		184		327		333

Commercial loans		8,475		8,021		7,770		6,609		6,157		454		2,318

Allowance for loan losses		(203)		(221)		(215)		(183)		(178)		18		(25)


Total finance receivables and loans, net		8,272		7,800		7,555		6,426		5,979		472		2,293

Other assets		98		93		79		74		71		5		27


Total assets	$	8,890	$	8,086	$	7,950	$	6,729	$	6,246	$	804	$	2,644

(1)

See page 25 for methodology and detail.

(2)

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


2Q 2022 Preliminary Results		13

ALLY FINANCIAL INC.

CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
Income Statement	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Net financing revenue

Total financing revenue and other interest income		276			223			155			131			126			53			150


Interest expense		(34	)		(22	)		(18	)		(7	)		27			(12	)		(61	)


Net financing revenue		310			245			173			138			99			65			211

Other revenue

Loss on extinguishment of debt		—			—			(10	)		(52	)		(73	)		—			73

Other gain on investments, net		2			18			17			22			5			(16	)		(3	)

Other income, net of losses ⁽¹⁾		57			48			66			42			146			9			(89	)


Total other revenue		59			66			73			12			78			(7	)		(19	)


Total net revenue		369			311			246			150			177			58			192

Provision for loan losses		68			57			131			16			4			11			64

Noninterest expense

Compensation and benefits expense		240			268			220			210			256			(28	)		(16	)

Other operating expense ⁽²⁾		(29	)		(47	)		2			(67	)		(26	)		18			(3	)


Total noninterest expense		211			221			222			143			230			(10	)		(19	)


Pre-tax income (loss)	$	90		$	33		$	(107	)	$	(9	)	$	(57	)	$	57		$	147


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

Core OID ⁽⁴⁾		10			10			9			9			9			—			1

Repositioning ⁽³⁾		—			—			107			52			70			—			(70	)


Core pre-tax income ⁽⁴⁾	$	101		$	43		$	10		$	52		$	21		$	57		$	79


Balance Sheet (Period-End)

Cash, trading and investment securities	$	32,324		$	33,667		$	35,357		$	40,692		$	44,204		$	(1,343	)	$	(11,880	)

Loans held-for-sale		200			186			164			139			128			14			72

Consumer loans		2,569			2,235			2,293			1,310			1,193			334			1,376

Commercial loans		190			180			198			223			192			10			(2	)

Intercompany loans⁽⁵⁾		(411	)		(572	)		(923	)		(898	)		(697	)		161			286

Allowance for loan losses		(313	)		(267	)		(231	)		(97	)		(85	)		(46	)		(228	)


Total finance receivables and loans, net		2,035			1,576			1,337			538			603			459			1,432

Other assets		7,131			7,212			6,661			5,787			5,868			(81	)		1,263

Total assets	$	41,690		$	42,641		$	43,519		$	47,156		$	50,803		$	(951	)	$	(9,113	)


Core OID Amortization Schedule ⁽⁴⁾		2022			2023			2024			2025			2026 & After


Remaining Core OID amortization expense	$	22		$	49		$	57		$	66			Avg = $112/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 $307 million for 2Q22, $311 million for 1Q22, $294 million for 4Q21, $290 million for 3Q21, and $268 million for 2Q21. 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.


2Q 2022 Preliminary Results		14

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION


$ in millions

	QUARTERLY TRENDS															CHANGE VS.

Asset Quality - Consolidated ⁽¹⁾	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Ending loan balance	$	128,450		$	125,358		$	122,261		$	114,463		$	112,209		$	3,092		$	16,242

30+ Accruing DPD	$	2,198		$	1,684		$	1,793		$	1,591		$	1,291		$	514		$	907

30+ Accruing DPD %		1.71	%		1.34	%		1.47	%		1.39	%		1.15	%

60+ Accruing DPD	$	491		$	380		$	401		$	308		$	247		$	111		$	244

60+ Accruing DPD %		0.38	%		0.30	%		0.33	%		0.27	%		0.22	%

Non-performing loans (NPLs)	$	1,380		$	1,388		$	1,436		$	1,285		$	1,283		$	(8	)	$	97

Net charge-offs (NCOs)	$	153		$	133		$	103		$	54		$	(6	)	$	21		$	159

Net charge-off rate ⁽²⁾		0.49	%		0.43	%		0.35	%		0.19	%		(0.02	)%

Provision for loan losses ⁽³⁾	$	304		$	167		$	210		$	76		$	(32	)	$	137		$	336

Allowance for loan losses (ALLL)	$	3,450		$	3,301		$	3,267		$	3,148		$	3,126		$	149		$	324

ALLL as % of Loans ⁽³⁾⁽⁴⁾		2.68	%		2.63	%		2.67	%		2.75	%		2.79	%

ALLL as % of NPLs ⁽³⁾		250	%		238	%		227	%		245	%		244	%

ALLL as % of NCOs ⁽³⁾		561	%		621	%		792	%		n/m			n/m

US Auto Delinquencies - HFI Retail Contract $‘s

30+ Delinquent contract $	$	2,061		$	1,594		$	1,677		$	1,427		$	1,218		$	467		$	843

% of retail contract $ outstanding		2.52	%		2.02	%		2.14	%		1.83	%		1.60	%

60+ Delinquent contract $	$	470		$	362		$	378		$	298		$	241

% of retail contract $ outstanding		0.57	%		0.46	%		0.48	%		0.38	%		0.32	%

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

Net charge-offs	$	108		$	113		$	94		$	51		$	(5	)	$	(5	)	$	113

% of avg. HFI assets ⁽²⁾		0.54	%		0.58	%		0.48	%		0.27	%		(0.03	)%

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

Net charge-offs	$	(1	)	$	(1	)	$	0		$	0		$	0		$	0		$	(1	)

% of avg. HFI assets ⁽²⁾		(0.03	)%		(0.01	)%		(0.01	)%		(0.01	)%		—	%

(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 ($501) million of fair value adjustment for loans in hedge accounting relationships in 2Q22, ($350) million in 1Q22, ($37) million in 4Q21, $78 million in 3Q21 and $124 million in 2Q21.


2Q 2022 Preliminary Results		15

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION, CONTINUED


($ in millions)
Automotive Finance ⁽¹⁾	QUARTERLY TRENDS										CHANGE VS.

*Consumer*	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22		2Q 21
Allowance for loan losses	$	2,885	$	2,763	$	2,769	$	2,810	$	2,802	$	122	$	83

Total consumer loans ⁽²⁾	$	81,691	$	78,911	$	78,252	$	77,761	$	75,951	$	2,780	$	5,740

Coverage ratio ⁽³⁾		3.51%		3.49%		3.54%		3.62%		3.70%

Commercial

Allowance for loan losses	$	30	$	31	$	33	$	41	$	46	$	(1)	$	(16)

Total commercial loans	$	16,108	$	17,295	$	16,074	$	12,587	$	15,219	$	(1,187)	$	889

Coverage ratio		0.18%		0.18%		0.21%		0.32%		0.30%

Mortgage ⁽¹⁾

*Consumer*

Mortgage Finance

Allowance for loan losses	$	20	$	19	$	19	$	17	$	15	$	1	$	5

Total consumer loans	$	18,923	$	18,372	$	17,644	$	16,059	$	13,629	$	551	$	5,294

Coverage ratio		0.11%		0.10%		0.11%		0.11%		0.11%

Mortgage - Legacy

Allowance for loan losses	$	6	$	7	$	8	$	8	$	9	$	(1)	$	(3)

Total consumer loans	$	322	$	341	$	368	$	396	$	429	$	(19)	$	(107)

Coverage ratio		1.92%		2.03%		2.05%		2.04%		2.16%

Total Mortgage

Allowance for loan losses	$	26	$	26	$	27	$	25	$	24	$	—	$	2

Total consumer loans	$	19,245	$	18,713	$	18,012	$	16,455	$	14,058	$	532	$	5,187

Coverage ratio		0.14%		0.14%		0.15%		0.15%		0.18%

Consumer Other - Ally Lending ^(1) (4)

Allowance for loan losses	$	141	$	124	$	102	$	86	$	72	$	17	$	69

Total consumer loans	$	1,516	$	1,202	$	1,002	$	828	$	632	$	314	$	885

Coverage ratio		9.32%		10.32%		10.20%		10.34%		11.39%

Consumer Other - Ally Credit Card ⁽¹⁾⁽⁵⁾

Allowance for loan losses	$	162	$	134	$	119		—		—	$	28	$	162

Total consumer loans	$	1,224	$	1,036	$	953		—		—	$	188	$	1,224

Coverage ratio		13.25%		12.90%		12.44%		—		—

Corporate Finance ⁽¹⁾

Allowance for loan losses	$	203	$	221	$	215	$	183	$	178	$	(18)	$	25

Total commercial loans	$	8,476	$	8,021	$	7,770	$	6,609	$	6,157	$	455	$	2,319

Coverage ratio		2.40%		2.76%		2.77%		2.78%		2.90%

Corporate and Other ⁽¹⁾

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

Total commercial loans	$	190	$	180	$	198	$	223	$	192	$	10	$	(2)

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

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

(2) Includes ($501) million of fair value adjustment for loans in hedge accounting relationships in 2Q22, ($350) million in 1Q22, ($37) million in 4Q21, $78 million in 3Q21 and $124 million in 2Q21.

(3) Excludes ($501) million of fair value adjustment for loans in hedge accounting relationships in 2Q22, ($350) million in 1Q22, ($37) million in 4Q21, $78 million in 3Q21 and $124 million in 2Q21.

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


2Q 2022 Preliminary Results		16

ALLY FINANCIAL INC.

CAPITAL


($ in billions)	QUARTERLY TRENDS										CHANGE VS.

Capital	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22		2Q 21

Risk-weighted assets	$	152.2	$	149.0	$	146.4	$	140.0	$	138.8	$	3.2	$	13.4

Common Equity Tier 1 (CET1) capital ratio		9.6%		10.0%		10.3%		11.2%		11.3%

Tier 1 capital ratio		11.1%		11.5%		11.9%		12.8%		13.1%

Total capital ratio		12.7%		13.1%		13.5%		14.6%		14.8%

Tangible common equity / Tangible assets ^{(1) (2)}		5.8%		6.6%		7.6%		8.2%		8.2%

Tangible common equity / Risk-weighted assets ⁽¹⁾		7.1%		8.2%		9.4%		10.4%		10.7%

Shareholders’ equity	$	14.0	$	15.4	$	17.1	$	17.3	$	17.5	$	(1.4)	$	(3.5)

add: CECL phase-in adjustment		0.9		0.9		1.2		1.2		1.1		—		(0.2)

less: Certain AOCI items and other adjustments		2.1		0.9		(0.8)		(0.5)		(0.6)		1.2		2.7

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


Common Equity Tier 1 capital	$	14.7	$	14.8	$	15.1	$	15.7	$	15.7	$	(0.1)	$	(1.0)


Common Equity Tier 1 capital	$	14.7	$	14.8	$	15.1	$	15.7	$	15.7	$	(0.1)	$	(1.0)

add: Preferred equity		2.3		2.3		2.3		2.3		2.3		—		—

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

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


Tier 1 capital	$	16.9	$	17.1	$	17.4	$	17.9	$	18.2	$	(0.2)	$	(1.3)


Tier 1 capital	$	16.9	$	17.1	$	17.4	$	17.9	$	18.2	$	(0.2)	$	(1.3)

add: Qualifying subordinated debt		0.6		0.6		0.6		0.8		0.8		—		(0.2)

Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		1.9		1.8		1.7		1.6		1.6		0.1		0.3


Total capital	$	19.4	$	19.6	$	19.7	$	20.4	$	20.6	$	(0.2)	$	(1.2)


Total shareholders’ equity	$	14.0	$	15.4	$	17.1	$	17.3	$	17.5	$	(1.4)	$	(3.5)

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

Goodwill and intangible assets, net of deferred tax liabilities		(0.9)		(0.9)		(0.9)		(0.4)		(0.4)		—		(0.5)


Tangible common equity ⁽¹⁾	$	10.7	$	12.2	$	13.8	$	14.6	$	14.8	$	(1.5)	$	(4.1)


Total assets	$	185.7	$	184.3	$	182.1	$	179.2	$	180.5	$	1.4	$	5.2

less: Goodwill and intangible assets, net of deferred tax liabilities		(0.9)		(0.9)		(0.9)		(0.4)		(0.4)		—		(0.5)


Tangible assets ⁽²⁾	$	184.8	$	183.4	$	181.2	$	178.8	$	180.1	$	1.4	$	4.7

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.


2Q 2022 Preliminary Results		17

ALLY FINANCIAL INC.

LIQUIDITY AND DEPOSITS


	QUARTERLY TRENDS										CHANGE VS.
Consolidated Available Liquidity ($ in billions)	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22			2Q 21

Liquid cash and cash equivalents ⁽¹⁾	$	3.7	$	3.6	$	4.4	$	10.1	$	13.0	$	0.1		$	(9.3	)

Highly liquid securities ⁽²⁾		24.6		25.9		26.8		26.7		28.4		(1.3	)		(3.8	)

Current committed unused capacity		—		—		—		0.1		0.2		—			(0.2	)


Total current available liquidity	$	28.3	$	29.5	$	31.2	$	36.9	$	41.6	$	(1.2	)	$	(13.3	)


Unsecured Long-Term Debt Maturity Profile	2022		2023		2024		2025		2026		2027 & After

Consolidated remaining maturities ⁽³⁾	$	—	$	2.0	$	1.5	$	2.3	$	—	$	4.0

Ally Bank Deposits

Key Deposit Statistics

Average retail CD maturity (months)		20.7		20.5		20.3		20.2		20.1		0.2			0.6

Average retail deposit rate		0.71%		0.59%		0.61%		0.64%		0.69%

End of Period Deposit Levels ($ in millions)

Retail	$	131,155	$	135,978	$	134,672	$	131,590	$	129,222	$	(4,823	)	$	1,933

Brokered & other		9,246		6,497		6,886		7,854		9,882		2,749			(636	)


Total deposits	$	140,401	$	142,475	$	141,558	$	139,444	$	139,104	$	(2,074	)	$	1,297


Deposit Mix

Retail CD		23%		24%		26%		27%		28%

MMA/OSA/Checking		71%		72%		70%		67%		65%

Brokered		6%		4%		4%		6%		7%

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

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

(3)	Excludes retail notes; as of 6/30/2022. Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs.


2Q 2022 Preliminary Results		18

ALLY FINANCIAL INC.

NET INTEREST MARGIN


($ in millions)	QUARTERLY TRENDS										CHANGE VS.

Average Balance Details	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22		2Q 21

Retail Auto Loans	$	79,695	$	78,224	$	77,979	$	76,557	$	74,662	$	1,471	$	5,033

Auto Lease (net of dep)		10,615		10,878		10,951		10,919		10,355		(263)		260

Dealer Floorplan		11,372		11,594		9,539		8,849		10,825		(222)		547

Other Dealer Loans		4,839		4,810		4,829		5,038		5,507		29		(668)

Corporate Finance		8,351		8,045		7,147		6,735		6,383		306		1,968

Mortgage⁽¹⁾		18,980		18,228		17,533		15,125		13,179		752		5,801

Consumer Other - Ally Lending⁽²⁾		1,346		1,100		923		728		537		246		809

Consumer Other - Ally Credit Card ⁽³⁾		1,093		981		309		—		—		112		1,093

Cash and Cash Equivalents		3,761		4,027		6,532		13,055		16,564		(266)		(12,803)

Investment Securities and Other		35,050		37,025		37,146		35,532		36,784		(1,975)		(1,734)

Total Earning Assets	$	175,103	$	174,911	$	172,888	$	172,538	$	174,796	$	192	$	307
Interest Revenue		2,231		2,094		2,069		2,038		2,044		137		187

Unsecured Debt (ex. Core OID balance) ⁽⁴⁾⁽⁷⁾	$	9,674	$	9,976	$	10,061	$	9,787	$	11,737	$	(302)	$	(2,063)

Secured Debt		1,154		1,089		1,331		1,675		2,618		65		(1,464)

Deposits ⁽⁵⁾		139,814		141,557		140,043		139,244		139,382		(1,743)		432

Other Borrowings ⁽⁶⁾		11,966		7,203		4,990		4,929		5,044		4,763		6,922

Total Funding Sources (ex. Core OID balance) ⁽⁴⁾	$	162,608	$	159,826	$	156,425	$	155,635	$	158,781	$	2,782	$	3,827

Interest Expense (ex. Core OID) ⁽⁴⁾		457		391		406		435		488		66		(31)

Net Financing Revenue (ex. Core OID) ⁽⁴⁾	$	1,774	$	1,703	$	1,663	$	1,603	$	1,556	$	71	$	218

Net Interest Margin (yield details)

Retail Auto Loan		6.82%		6.61%		6.61%		6.62%		6.70%		0.21%		0.12%

Retail Auto Loan (excl. hedge impact)		6.85%		6.75%		6.81%		6.84%		6.92%		0.10%		(0.07)%

Auto Lease (net of dep)		6.66%		6.96%		7.88%		9.21%		11.67%		(0.30)%		(5.01)%

Dealer Floorplan		3.45%		2.97%		2.98%		3.18%		3.31%		0.48%		0.14%

Other Dealer Loans		4.13%		4.17%		4.10%		4.16%		4.18%		(0.04)%		(0.05)%

Corporate Finance		5.02%		4.76%		5.15%		5.12%		5.37%		0.26%		(0.35)%

Mortgage		3.01%		2.94%		2.77%		2.83%		2.80%		0.07%		0.21%

Consumer Other - Ally Lending⁽²⁾		11.94%		12.62%		12.89%		13.86%		14.44%		(0.68)%		(2.50)%

Consumer Other - Ally Credit Card ⁽³⁾		19.71%		18.75%		18.11%		—%		—%		0.96%		19.71%

Cash and Cash Equivalents		0.61%		0.15%		0.14%		0.14%		0.10%		0.46%		0.51%

Investment Securities and Other		2.35%		2.09%		1.81%		1.76%		1.63%		0.26%		0.72%

Total Earning Assets		5.11%		4.86%		4.75%		4.68%		4.69%		0.25%		0.42%

Unsecured Debt (ex. Core OID & Core OID balance) ⁽⁴⁾⁽⁷⁾		5.04%		5.12%		5.02%		5.19%		5.33%		(0.08)%		(0.29)%

Secured Debt		6.61%		6.36%		5.91%		4.29%		4.44%		0.25%		2.17%

Deposits ⁽⁵⁾		0.76%		0.61%		0.64%		0.70%		0.77%		0.15%		(0.01)%

Other Borrowings⁽⁶⁾		1.75%		2.11%		2.59%		3.42%		2.81%		(0.36)%		(1.06)%

Total Funding Sources (ex. Core OID & Core OID balance) ⁽⁴⁾		1.12%		0.99%		1.03%		1.11%		1.23%		0.13%		(0.11)%

NIM (as reported)		4.04%		3.93%		3.80%		3.66%		3.55%		0.11%		0.49%

NIM (ex. Core OID & Core OID balance) ⁽⁴⁾		4.06%		3.95%		3.82%		3.68%		3.57%		0.11%		0.49%

(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 consumer lending from point-of-sale financing.

(3)

Credit Card lending portfolio. 4Q’21 end of period balance was $953 million. 4Q’21 Average Balance reflects one month of active balances on-balance sheet (12/1/2021-12/31/2021) and $0 for prior months within period.

(4)

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

(5)

Includes retail, brokered, and other deposits. Other includes sweep deposits and other deposits.

(6)

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

(7)

Includes trust preferred securities.


2Q 2022 Preliminary Results		19

ALLY FINANCIAL INC.

ALLY BANK CONSUMER MORTGAGE HFI PORTFOLIOS (PERIOD-END)


($ in billions)	QUARTERLY TRENDS
Mortgage Finance HFI Portfolio	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21
Loan Value

Gross carry value	$	18.9	$	18.4	$	17.6	$	16.1	$	13.6

Net carry value	$	18.9	$	18.4	$	17.6	$	16.0	$	13.6

Estimated Pool Characteristics

% Second lien		0.0%		0.0%		0.0%		0.0%		0.0%

% Interest only		0.0%		0.0%		0.0%		0.0%		0.0%

% 30+ Day delinquent⁽¹⁾⁽²⁾		0.7%		0.6%		0.8%		1.1%		0.8%

% Low/No documentation		0.0%		0.1%		0.1%		0.1%		0.1%

% Non-primary residence		4.1%		4.0%		3.9%		4.3%		4.9%

Refreshed FICO⁽³⁾		779		776		776		776		776

Wtd. Avg. LTV/CLTV ⁽⁴⁾		53.7%		55.7%		56.9%		57.6%		58.8%

Corporate Other Legacy Mortgage HFI Portfolio
Loan Value

Gross carry value	$	0.3	$	0.3	$	0.4	$	0.4	$	0.4

Net carry value	$	0.3	$	0.3	$	0.4	$	0.4	$	0.4

Estimated Pool Characteristics

% Second lien		13.9%		14.7%		15.0%		15.6%		16.5%

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

% 30+ Day delinquent⁽¹⁾⁽²⁾		7.2%		7.1%		7.5%		8.1%		6.3%

% Low/No documentation		23.6%		23.7%		23.4%		23.3%		23.1%

% Non-primary residence		3.3%		3.5%		3.5%		3.6%		3.2%

Refreshed FICO⁽³⁾		740		738		735		735		734

Wtd. Avg. LTV/CLTV ⁽⁴⁾		49.1%		52.2%		54.2%		56.0%		61.0%

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

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

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

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


2Q 2022 Preliminary Results		20

ALLY FINANCIAL INC.

EARNINGS PER SHARE RELATED INFORMATION


($ in millions, shares in thousands)		QUARTERLY TRENDS															CHANGE VS.

Earnings Per Share Data		2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

GAAP net income attributable to common shareholders		$	454		$	627		$	624		$	683		$	900		$	(173	)	$	(446	)

Weighted-average common shares outstanding - basic			322,057			335,678			345,870			359,179			370,412			(13,621	)		(48,355	)

Weighted-average common shares outstanding - diluted			324,027			337,812			348,666			361,855			373,029			(13,784	)		(49,001	)

Issued shares outstanding (period-end)			312,781			327,306			337,941			349,599			362,639			(14,525	)		(49,857	)


Net income per share - basic		$	1.41		$	1.87		$	1.80		$	1.90		$	2.43		$	(0.46	)	$	(1.02	)


Net income per share - diluted		$	1.40		$	1.86		$	1.79		$	1.89		$	2.41		$	(0.45	)	$	(1.01	)


Adjusted Earnings per Share (“Adjusted EPS”)

Numerator

GAAP net income attributable to common shareholders		$	454		$	627		$	624		$	683		$	900		$	(173	)	$	(446	)

Discontinued operations, net of tax			—			—			6			—			(1	)		—			1

Core OID			10			10			9			9			9			—			1

Change in the fair value of equity securities			136			66			(21	)		65			(19	)		71			156

Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)			(31	)		(16	)		(20	)		(26	)		(13	)		(15	)		(18	)

Repositioning			—			—			107			52			70			—			(70	)

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


Core net income attributable to common shareholders ⁽¹⁾		$	570		$	687		$	705		$	782		$	868		$	(117	)	$	(298	)

Denominator

Weighted-average common shares outstanding - diluted			324,027			337,812			348,666			361,855			373,029			(13,784	)		(49,001	)

Adjusted EPS ⁽²⁾		$	1.76		$	2.03		$	2.02		$	2.16		$	2.33		$	(0.27	)	$	(0.57	)

Core original issue discount (Core OID) amortization expense ⁽¹⁾		$	10		$	10		$	9		$	9		$	9		$	—		$	1

Other OID			2			3			3			3			3			—			—


GAAP original issue discount amortization expense		$	13		$	13		$	12		$	12		$	12		$	—		$	1


Core outstanding original issue discount balance (Core OID balance) ⁽¹⁾		$	(863	)	$	(873	)	$	(883	)	$	(900	)	$	(952	)	$	10		$	89

Other outstanding OID balance			(39	)		(37	)		(40	)		(29	)		(32	)		(1	)		(7	)


GAAP outstanding original issue discount balance		$	(901	)	$	(911	)	$	(923	)	$	(929	)	$	(983	)	$	9		$	82


GAAP net financing revenue	[A]	$	1,764		$	1,693		$	1,654		$	1,594		$	1,547		$	71		$	217

Core OID			10			10			9			9			9			—			1


Net Financing Revenue (ex. Core OID)	[B]	$	1,774		$	1,703		$	1,663		$	1,603		$	1,556		$	71		$	218


GAAP Other Revenue	[C]	$	312		$	442		$	545		$	391		$	538		$	(130	)	$	(226	)

Repositioning			—			—			9			52			70			—			(70	)

Change in the fair value of equity securities			136			66			(21	)		65			(19	)		71			156


Adjusted Other Revenue	[D]	$	448		$	508		$	533		$	507		$	588		$	(59	)	$	(140	)


GAAP Provision Expense		$	304		$	167		$	210		$	76		$	(32	)	$	137		$	336

Repositioning			—			—			(97	)		—			—			—			—


Adjusted Provision (ex. Repositioning)		$	304		$	167		$	113		$	76		$	(32	)	$	137		$	336


GAAP Noninterest expense	[E]	$	1,138		$	1,122		$	1,090		$	1,002		$	1,075		$	16		$	63

Adjusted Noninterest Expense	[F]	$	1,138		$	1,122		$	1,090		$	1,002		$	1,075		$	16		$	63


Pre-Provision Net Revenue (PPNR)	[A]+[C]+[E]	$	938		$	1,013		$	1,109		$	983		$	1,010		$	(75	)	$	(72	)

Core Pre-Provision Net Revenue (PPNR) ⁽¹⁾	[B]+[D]+[F]	$	1,084		$	1,088		$	1,107		$	1,108		$	1,070		$	(4	)	$	15

(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.(3) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q20.


2Q 2022 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	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22		2Q 21

Numerator

GAAP shareholder’s equity	$	13,984	$	15,413	$	17,050	$	17,289	$	17,530	$	(1,429)	$	(3,546)

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

GAAP common shareholder’s equity	$	11,660	$	13,089	$	14,726	$	14,965	$	15,206	$	(1,429)	$	(3,546)

Goodwill and identifiable intangibles, net of DTLs		(920)		(932)		(941)		(369)		(374)		11		(547)


Tangible common equity ⁽¹⁾		10,740		12,157		13,785		14,596		14,832		(1,418)		(4,093)

Tax-effected Core OID balance (21% tax rate) ⁽¹⁾		(682)		(690)		(698)		(711)		(752)		8		70

Adjusted tangible book value ⁽²⁾	$	10,058	$	11,468	$	13,087	$	13,885	$	14,081	$	(1,410)	$	(4,023)


Denominator

Issued shares outstanding (period-end, thousands)		312,781		327,306		337,941		349,599		362,639		(14,525)		(49,857)

GAAP shareholder’s equity per share	$	44.71	$	47.09	$	50.45	$	49.45	$	48.34	$	(2.38)	$	(3.63)

Preferred equity per share		(7.43)		(7.10)		(6.88)		(6.65)		(6.41)		(0.33)		(1.02)

GAAP common shareholder’s equity per share	$	37.28	$	39.99	$	43.58	$	42.81	$	41.93	$	(2.71)	$	(4.65)

Goodwill and identifiable intangibles, net of DTLs per share		(2.94)		(2.85)		(2.79)		(1.06)		(1.03)		(0.10)		(1.91)


Tangible common equity per share ⁽¹⁾		34.34		37.14		40.79		41.75		40.90		(2.81)		(6.57)

Tax-effected Core OID balance (21% tax rate) per share ⁽¹⁾		(2.18)		(2.11)		(2.06)		(2.03)		(2.07)		(0.07)		(0.11)


Adjusted tangible book value per share ⁽²⁾	$	32.16	$	35.04	$	38.73	$	39.72	$	38.83	$	(2.88)	$	(6.67)

(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.


2Q 2022 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”)	2Q 22		1Q 22		4Q 21		3Q 21		2Q 21		1Q 22		2Q 21

Numerator

GAAP net income attributable to common shareholders	$	454	$	627	$	624	$	683	$	900	$	(173)	$	(446)

Discontinued operations, net of tax		—		—		6		—		(1)		—		1

Core OID		10		10		9		9		9		—		1

Change in the fair value of equity securities		136		66		(21)		65		(19)		71		156

Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)		(31)		(16)		(20)		(26)		(13)		(15)		(18)

Repositioning		—		—		107		52		70		—		(70)

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


Core net income attributable to common shareholders ⁽¹⁾	$	570	$	687	$	705	$	782	$	868	$	(117)	$	(298)

Denominator (average, $ millions)

GAAP shareholder’s equity	$	14,699	$	16,232	$	17,170	$	17,410	$	16,078	$	(1,533)	$	(1,379)

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

Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(926)		(937)		(655)		(371)		(376)		11		(550)


Tangible common equity ⁽¹⁾	$	11,449	$	12,971	$	14,190	$	14,714	$	14,540	$	(1,522)	$	(3,091)

Core OID balance		(868)		(878)		(892)		(926)		(985)		10		117

Net deferred tax asset (“DTA”)		(758)		(437)		(551)		(866)		(571)		(322)		(188)


Normalized common equity	$	9,822	$	11,656	$	12,747	$	12,923	$	12,984	$	(1,834)	$	(3,162)

Core Return on Tangible Common Equity ⁽²⁾		23.2%		23.6%		22.1%		24.2%		26.7%

(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.


2Q 2022 Preliminary Results		23

ALLY FINANCIAL INC.

ADJUSTED EFFICIENCY RATIO RELATED INFORMATION


($ in millions)	QUARTERLY TREND															CHANGE VS.

Adjusted Efficiency Ratio Calculation	2Q 22			1Q 22			4Q 21			3Q 21			2Q 21			1Q 22			2Q 21

Numerator

GAAP Noninterest expense	$	1,138		$	1,122		$	1,090		$	1,002		$	1,075		$	16		$	63

Rep and warrant expense		—			—			—			—			—			—			—

Insurance expense		(300	)		(274	)		(263	)		(273	)		(272	)		(26	)		(28	)

Adjusted noninterest expense for the efficiency ratio	$	838		$	848		$	827		$	729		$	803		$	(10	)	$	35

Denominator

Total net revenue	$	2,076		$	2,135		$	2,199		$	1,985		$	2,085		$	(59	)	$	(9	)

Core OID		10			10			9			9			9			—			1

Insurance revenue		(178	)		(287	)		(354	)		(297	)		(359	)		109			181

Repositioning		—			—			9			52			70			—			(70	)

Adjusted net revenue for the efficiency ratio	$	1,908		$	1,858		$	1,864		$	1,749		$	1,805		$	50		$	103

Adjusted Efficiency Ratio ⁽¹⁾		43.9	%		45.6	%		44.4	%		41.7	%		44.5	%

(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.


2Q 2022 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 extended through December 31, 2021. Beginning on January 1, 2022, we are required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the five-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and beginning January 1, 2022, are phasing in the regulatory capital impacts of CECL based on this five-year transition period.

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.


2Q 2022 Preliminary Results		25


				• Established leader in dealer financial services offering comprehensive suite of auto finance and insurance products
				– Consumer auto originations of $13.3 billion, from 3.3 million decisioned applications \| Highest quarterly originations since 2006
				– 7.8% Estimated Retail Auto Originated Yield1 \| 54 bps of retail net charge-offs, reflecting strength in credit and used values
				– Insurance written premiums of $262 million \| $5.8 billion investment management portfolio
				• Leading, digital-first Ally Bank platform generating strong growth across consumer and commercial product suite
				– Retail balances of $131.2 billion, down 4% quarter over quarter (QoQ) driven by elevated tax outflows; up 1% YoY
				– Retail deposit customers of 2.5 million, up 6% year over year (YoY), grew for the 53rd consecutive quarter
				– Ally Home^® direct-to-consumer mortgage originations of $0.9 billion \| Lower originations reflecting higher interest rate environment
				– Ally Invest net customer assets of $13.5 billion, down 18% YoY due to market trends \| 518K active accounts, up 5% YoY
				– Ally Lending gross originations of $591 million, up 98% YoY \| 382K active borrowers, up 78% YoY and 3.2K merchants, up 26% YoY
				– Ally Credit Card balances of $1.2 billion, up 93% YoY2 \| 908K active cardholders, up 58% YoY²
				– Corporate Finance held-for-investment portfolio of $8.5 billion, up 38% YoY \| Deep expertise, disciplined risk management
				• Preliminary Stress Capital Buffer of 250 basis points based on CCAR 2022 results \| Declined 100 bps versus CCAR 2020
				• Announced 3Q 2022 common dividend of $0.30 per share \| Completed $600 million of share repurchases in the second quarter

		“Despite macro headwinds and market uncertainty, Ally delivered strong operational results again this quarter, including net financing revenues growing for the eighth consecutive quarter and net interest margin exceeding four percent for the first time in company history. Our teams remain focused on controlling what we can control – primarily taking care of our customers across all our businesses. Our scale and ability to adapt to changing conditions allowed Ally to generate the strongest quarter of retail auto originations in sixteen years while increasing expected risk-adjusted yields. Newer businesses like Ally Credit Card are steadily growing and helping offset more cyclical businesses, like Ally Home,” said Ally Chief Executive Officer Jeffrey Brown.
		“We continue to closely monitor changes in the environment and remain nimble. The investments we’ve made in our underwriting and servicing operations, including adding teammates and enhancing technology, continues to give us confidence in our performance, despite the potential for recessionary conditions. Broadly speaking, we have fine-tuned our expense focus even further to ensure we remain well positioned. Recent CCAR results reaffirm our strong capital position and resilient balance sheet. We will continue to leverage our proven ability to lead, adapt and innovate, to ensure we deliver on our long-term strategic priorities and the thoughtful evolution of our company irrespective of the environment we face.”

Discussion of First Quarter 2022 Results

Discussion of First Quarter 2022 Results

Net income attributable to common shareholders was $454 million in the quarter, compared to $900 million in the second quarter of 2021, as higher net financing revenue was more than offset by higher provision for credit losses, lower other revenue and higher noninterest expenses.

Net financing revenue was $1.76 billion, up $217 million year over year, driven by continued strength in auto pricing and origination volumes, lower funding costs and the deployment of excess cash.

Other revenue decreased $226 million year over year to $312 million, largely due to a $136 million decrease in the fair value of equity securities in the quarter compared to a $19 million increase in the prior-year quarter. Adjusted other revenue^A, excluding the change in fair value of equity securities, decreased $140 million year over year to $448 million due to corporate investment gains in the prior period which did not repeat.

Net interest margin (“NIM”) of 4.04%, including Core OID^Bof 2 bps, increased 49 bps year over year. Excluding Core OID^B , NIM was 4.06%, up 49 bps year over year, primarily due to lower excess cash, lower funding costs, and larger contributions from Ally Lending and Ally Card, partially offset by normalizing lease yields.

Provision for credit losses increased $336 million year over year to $304 million, reflecting CECL reserve build attributable to robust retail auto origination volume compared to reserve release activity in the prior year.

Noninterest expense increased $63 million year over year due to the addition of credit card operations and continued investments in business growth, talent and technology.