UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
October 19, 2022
(Date of report; date of earliest event reported)
Commission file number: 1-3754

ALLY FINANCIAL INC.
(Exact name of registrant as specified in its charter)

 
			
Delaware	 	38-0572512	
(State or other jurisdiction of
incorporation or organization)	 	(I.R.S. Employer
Identification No.)	
Ally Detroit Center
500 Woodward Ave.
Floor 10, Detroit, Michigan
48226
(Address of principal executive offices)
(Zip Code)
(866) 710-4623
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	
Securities registered pursuant to Section 12(b) of the Act (listed on the New York Stock Exchange):

Title of each class	 	Trading
symbols	 	Name of each exchange
on which registered	
Common Stock, par value $0.01 per share	 	ALLY	 	NYSE	
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 2.02	Results of Operation and Financial Condition.	
On October 19, 2022, Ally Financial Inc. issued a press release announcing preliminary operating results for the third quarter ended September 30, 2022. The press release is attached hereto and incorporated by reference as Exhibit 99.1. Charts furnished to securities analysts are attached hereto and incorporated by reference as Exhibit 99.2. In addition, supplemental financial data furnished to securities analysts is attached hereto and incorporated by reference as Exhibit 99.3.
 
Item 9.01	Financial Statements and Exhibits.	

Exhibit No.	  	Description	
		
99.1	  	Press Release, Dated October 19, 2022	
		
99.2	  	Charts Furnished to Securities Analysts	
		
99.3	  	Supplemental Financial Data Furnished to Securities Analysts	
		
104	  	The cover page from this Current Report on Form 8-K, formatted in Inline XBRL	

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	 	ALLY FINANCIAL INC.	
	 	(Registrant)	 		
			
Dated: October 19, 2022	 		 	/s/ David J. DeBrunner	
	 		 	David J. DeBrunner	
	 		 	Vice President, Controller, and Chief Accounting Officer	

Exhibit 99.1  
  News release: IMMEDIATE RELEASE

Ally Financial Reports Third Quarter 2022 Financial Results

				
$0.88
GAAP EPS	 	 
10.0%
RETURN ON COMMON EQUITY
 	 	$417 million
PRE-TAX INCOME	  	$2.02 billion
GAAP TOTAL NET REVENUE	
$1.12
ADJUSTED EPS1	 	17.2%
CORE ROTCE1	 	$510 million
CORE PRE-TAX INCOME1
 	  	 
$2.09 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 $12.3 billion, 3.1 million decisioned applications | High-tech, high-touch dealer relationship model	
	 		  	–  8.75% Estimated Retail Auto Originated Yield1, up 165 bps YoY and 93 bps QoQ demonstrating continued pricing momentum	
	 		  	–  Insurance written premiums of $291 million | $5.6 billion investment management portfolio	
	 		  	•  Leading, digital-first Ally Bank platform generating strong growth across consumer and commercial product suite	
	 		  	–  Retail deposit balances of $133.9 billion, up $2.7 billion QoQ | On track for full-year retail balance growth	
	 		  	–  Retail deposit customers of 2.6 million, up 6% YoY, grew for the 54th consecutive quarter	
	 		  	–  Ally Home® direct-to-consumer mortgage originations of $0.5 billion | Lower originations reflecting industry trends	
	 		  	–  Ally Invest net customer assets of $13.1 billion | 521 thousand active accounts	
	 		  	–  Ally Lending gross originations of $0.6 billion | 426 thousand active borrowers and 3.5 thousand merchants	
	 		  	–  Ally Credit Card balances of $1.4 billion | 1.0 million active cardholders	
	 		  	–  Corporate Finance held-for-investment portfolio of $9.4 billion | Strong growth in lower-risk, asset-based lending	
	 		  	•  Announced 4Q 2022 common dividend of $0.30 per share | Completed $415 million of share repurchases in the third quarter	

 	 	“Ally’s operating results this quarter demonstrate that our businesses continue to perform well even in a challenging environment,” said Chief Executive Officer Jeffrey J. Brown. “I remain pleased with the continued evolution and execution across the company – evidenced across our multi-year trends and numerous metrics. Financial results were partially depressed this quarter as a result of an impairment on a nonmarketable equity investment related to our mortgage business, impacting $0.33 of EPS, and higher provisions as a result of loan growth in auto finance and a larger coverage build to ensure the company remains protected as recessionary conditions feel more likely to occur in the coming months.
 	
	 	“Our Dealer Financial Services business demonstrated the benefits of scale and deep relationships, evidenced by $12.3 billion consumer originations despite continued supply constraints. The pivot of our business model years ago has enabled Ally to continue prudently growing even in times when the auto finance environment contracts. At Ally Bank, retail deposits grew again this quarter which ensures the company maintains a stable and cost-effective source of funds even as capital markets stress increases. Ally today is nearly 90% core funded which provides stability in our operations. Further, Ally’s growing customer base positions the company well for growth across all of our consumer products.
 	
	 	“While we remain focused on delivering solid results each quarter, we’re actively monitoring the uncertainty which lies ahead. The specific path the economy will take over the next few quarters is unclear, but Ally has an incredibly strong foundation in our people and businesses. Our ‘Do It Right’ culture underpins everything we do. We’ve fostered an owners’ mentality across more than 11,000 teammates which heightens our focus on risk management and unwavering focus on controlling what we can control. Our teams have demonstrated an ability to deliver results across a variety of operating environments and we will leverage that expertise in executing against our strategic priorities. We’re focused on continuing to be the leading digital financial services company and delivering long-term value for all our stakeholders.”	

															
	 		  		  	Third Quarter 2022 Financial Results  	  		  		 		

 	  				 				 				 	 	Increase / (Decrease) vs.	 	
 					 	
($ millions except per share data)	  	 	3Q 22	 	 	 	2Q 22	 	 	 	3Q 21	 	 	 	2Q 22	 	 	 	3Q 21	 	
 					 	
GAAP Net Income Attributable to Common Shareholders	  	$	272	 	 	$	454	 	 	$	683	 	 	 	(40	)% 	 	 	(60	)% 	
 					 	
Core Net Income Attributable to Common Shareholders1	  	$	346	 	 	$	570	 	 	$	782	 	 	 	(39	)% 	 	 	(56	)% 	
 					 	
GAAP Earning per Common Share	  	$	0.88	 	 	$	1.40	 	 	$	1.89	 	 	 	(37	)% 	 	 	(54	)% 	
 					 	
Adjusted EPS1	  	$	1.12	 	 	$	1.76	 	 	$	2.16	 	 	 	(36	)% 	 	 	(48	)% 	
 					 	
Return on GAAP Shareholder’s Equity	  	 	10.0	% 	 	 	14.7	% 	 	 	18.1	% 	 	 	(32	)% 	 	 	(45	)% 	
 					 	
Core ROTCE1	  	 	17.2	% 	 	 	23.2	% 	 	 	24.2	% 	 	 	(26	)% 	 	 	(29	)% 	
 					 	
GAAP Common Shareholder’s Equity per Share	  	$	33.66	 	 	$	37.28	 	 	$	42.81	 	 	 	(10	)% 	 	 	(21	)% 	
 					 	
Adjusted Tangible Book Value per Share1	  	$	28.39	 	 	$	32.16	 	 	$	39.72	 	 	 	(12	)% 	 	 	(29	)% 	
 					 	
GAAP Total Net Revenue	  	$	2,016	 	 	$	2,076	 	 	$	1,985	 	 	 	(3	)% 	 	 	2	% 	
 					 	
Adjusted Total Net Revenue1	  	$	2,089	 	 	$	2,222	 	 	$	2,110	 	 	 	(6	)% 	 	 	(1	)% 	
 					 	
Pre-Provision Net Revenue1	  	$	855	 	 	$	938	 	 	$	983	 	 	 	(9	)% 	 	 	(13	)% 	
 					 	
Core Pre-Provision Net Revenue1	  	$	948	 	 	$	1,084	 	 	$	1,108	 	 	 	(13	)% 	 	 	(14	)% 	
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.

 
							
 	 	 	 	Discussion of third Quarter 2022 Results	 	 	

Net income attributable to common shareholders was $272 million in the quarter, compared to $683 million in the third quarter of 2021, as higher net financing revenue was more than offset by higher provision for credit losses, higher noninterest expenses and lower other revenue.
 
Net financing revenue was $1.72 billion, up $125 million year over year, as continued strength in auto pricing and origination volume and incremental loan growth outweighed higher funding costs.
 
Other revenue decreased $94 million year over year to $297 million, due to a $136 million impairment on a nonmarketable equity investment which was partially offset by debt extinguishment charges in the prior year. Adjusted other revenueA, excluding the change in fair value of equity securities, decreased $148 million year over year to $359 million due to the aforementioned impairment.
 
Net interest margin (“NIM”) of 3.81%, including Core OIDB of 2 bps, increased 15 bps year over year. Excluding Core OIDB, NIM was 3.83%, up 15 bps year over year, primarily due to lower excess cash, hedging activity, higher retail auto yields, and larger contributions from Ally Lending and Ally Card, partially offset by higher funding costs and normalizing lease yields.
 
Provision for credit losses increased $362 million year over year to $438 million, reflecting credit losses which are normalizing in-line with expectations and CECL reserve build attributable to robust retail auto origination volume.
 
Noninterest expense increased $159 million year over year due to the addition of credit card operations, a charge related to the termination of legacy pension funds and continued investments in business growth, talent and technology.
 	
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.

																	
 	  	 
    Third Quarter 2022 Financial Results    	 	 	

 	 	 	 	 	 	 	 	 	 	 	Increase/(Decrease) vs.	 	
						
($ millions except per share data)	 	3Q 22	 	 	2Q 22	 	 	3Q 21	 	 	2Q 22	 	 	3Q 21	 	
						
Net Financing Revenue (excluding Core OID)1	 	$	1,730	 	 	$	1,774	 	 	$	1,603	 	 	$	(45	) 	 	$	126	 	
						
Core OID	 	 	(11	) 	 	 	(10	) 	 	 	(9	) 	 	 	(0	) 	 	 	(1	) 	
						
(a) Net Financing Revenue	 	 	1,719	 	 	 	1,764	 	 	 	1,594	 	 	 	(45	) 	 	 	125	 	
						
Adjusted Other Revenue2	 	 	359	 	 	 	448	 	 	 	507	 	 	 	(89	) 	 	 	(148	) 	
						
Change in Fair Value of Equity Securities2	 	 	(62	) 	 	 	(136	) 	 	 	(65	) 	 	 	74	 	 	 	2	 	
						
Repositioning	 	 	—	 	 	 	—	 	 	 	(52	) 	 	 	—	 	 	 	52	 	
						
(b) Other Revenue	 	 	297	 	 	 	312	 	 	 	391	 	 	 	(15	) 	 	 	(94	) 	
						
(c) Provision for Credit Losses	 	 	438	 	 	 	304	 	 	 	76	 	 	 	134	 	 	 	362	 	
						
Noninterest Expense (ex. Repositioning)2	 	 	1,141	 	 	 	1,138	 	 	 	1,002	 	 	 	3	 	 	 	139	 	
						
Repositioning2	 	 	20	 	 	 	—	 	 	 	—	 	 	 	20	 	 	 	20	 	
						
(d) Noninterest Expense	 	 	1,161	 	 	 	1,138	 	 	 	1,002	 	 	 	23	 	 	 	159	 	
						
Pre-Tax Income (a+b-c-d)	 	$	417	 	 	$	634	 	 	$	907	 	 	$	(217	) 	 	$	(490	) 	
						
Income Tax Expense	 	 	117	 	 	 	152	 	 	 	195	 	 	 	(35	) 	 	 	(78	) 	
						
Net Loss from Discontinued Operations	 	 	(1	) 	 	 	—	 	 	 	—	 	 	 	(1	) 	 	 	(1	) 	
						
Net Income	 	$	299	 	 	$	482	 	 	$	712	 	 	$	(183	) 	 	$	(413	) 	
						
Preferred Dividends	 	 	27	 	 	 	28	 	 	 	29	 	 	 	(1	) 	 	 	(2	) 	
						
Net Income Attributable to Common Shareholders	 	$	272	 	 	$	454	 	 	$	683	 	 	$	(182	) 	 	$	(411	) 	
						
GAAP EPS (diluted)	 	$	0.88	 	 	$	1.40	 	 	$	1.89	 	 	$	(0.52	) 	 	$	(1.01	) 	
						
Core OID, Net of Tax	 	 	0.03	 	 	 	0.02	 	 	 	0.02	 	 	 	0.00	 	 	 	0.01	 	
						
Change in Fair Value of Equity Securities, Net of Tax	 	 	0.16	 	 	 	0.33	 	 	 	0.14	 	 	 	(0.17	) 	 	 	0.02	 	
						
Repositioning, Discontinued Ops, and Other, Net of Tax3	 	 	0.05	 	 	 	—	 	 	 	0.11	 	 	 	0.05	 	 	 	(0.06	) 	
						
Adjusted EPS4	 	$	1.12	 	 	$	1.76	 	 	$	2.16	 	 	$	(0.64	) 	 	$	(1.04	) 	
 
(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)	Repositioning, net of tax in 3Q 2022 includes a $20 million charge related to legacy pension funds, 3Q 2021 includes a $52 million charge associated with redeeming TRUPs.	
(4)	Represents a non-GAAP financial measure. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.	
 
2

 

    Pre-Tax Income by Segment    	 	 	

																					
	  				  				  				  	 	Increase/(Decrease) vs.	 	
						
    ($ millions)	  	 	3Q 22	 	  	 	2Q 22	 	  	 	3Q 21	 	  	 	2Q 22	 	  	 	3Q 21	 	
						
    Automotive Finance	  	$	488	 	  	$	600	 	  	$	825	 	  	$	(112	) 	  	$	(337	) 	
						
    Insurance	  	 	(30	) 	  	 	(122	) 	  	 	24	 	  	 	92	 	  	 	(54	) 	
						
        Dealer Financial Services	  	$	458	 	  	$	478	 	  	$	849	 	  	$	(20	) 	  	$	(391	) 	
						
    Corporate Finance	  	 	91	 	  	 	60	 	  	 	61	 	  	 	31	 	  	 	30	 	
						
    Mortgage Finance	  	 	19	 	  	 	6	 	  	 	6	 	  	 	13	 	  	 	13	 	
						
    Corporate and Other	  	 	(151	) 	  	 	90	 	  	 	(9	) 	  	 	(241	) 	  	 	(142	) 	
						
  Pre-Tax Income from Continuing Operations	  	$	417	 	  	$	634	 	  	$	907	 	  	$	(217	) 	  	$	(490	) 	
						
  Core OID1	  	 	11	 	  	 	10	 	  	 	9	 	  	 	0	 	  	 	1	 	
						
  Change in Fair Value of Equity Securities2	  	 	62	 	  	 	136	 	  	 	65	 	  	 	(74	) 	  	 	(2	) 	
						
  Repositioning and Other3	  	 	20	 	  	 	—	 	  	 	52	 	  	 	20	 	  	 	(31	) 	
						
  Core Pre-Tax Income4	  	$	510	 	  	$	780	 	  	$	1,032	 	  	$	(271	) 	  	$	(523	) 	
 
(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 in 3Q 2022 includes a $20 million charge related to legacy pension funds while 3Q 2021 includes a $52 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.	

 	 	 	 	Discussion of Segment Results	 	 	
 	 	 			 	 	
Auto Finance
 
Pre-tax income of $488 million was down $337 million year over year, primarily due to higher provision expense to support origination volume and higher noninterest expense.
 
Net financing revenue of $1,303 million was $26 million lower year over year, driven by lower lease gains, partially offset by higher retail auto portfolio balances. Ally’s retail auto portfolio yield, excluding the impact of hedges, increased 20 bps year over year to 7.04% as the portfolio churns and reflects higher originated yields from recent periods.
 
Provision for credit losses was $328 million, increasing $275 million year over year, driven by reserve build to support strong retail originations. The retail auto net charge-off rate was 1.05%, up 78 bps year over year.
 
Consumer auto originations of $12.3 billion were the highest third quarter since 2006 and included $7.9 billion of used retail volume, or 64% of total originations, $3.4 billion of new retail volume, and $1.1 billion of leases. Estimated retail auto originated yieldC of 8.75% in the quarter was up 165 bps year over year.
 
End-of-period auto earning assets increased $9.6 billion year over year from $101.2 billion to $110.9 billion, due to an increase in both consumer and commercial auto earning assets. End-of-period consumer auto earning assets were up $6.0 billion year over year, driven by growth in retail loans. End-of-period commercial earning assets of $16.2 billion were $3.6 billion higher year over year.
 
Insurance
 
Pre-tax loss of $30 million compared to pre-tax income of $24 million in the prior year while core pre-tax incomeE decreased $57 million year over year to $32 million. Both year over year changes were primarily due to lower equity investment gains given market conditions.
 
Written premiums were $291 million, relatively flat year over year despite lower vehicle sales.
 
Total investment income, excluding a $62 million decrease in the fair value of equity securities during the quarterD, was $30 million, down $50 million year over year due to elevated realized gains in the prior year and broader equity market trends in the quarter.

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.
 
3

 
					
 	 	Discussion of Segment Results	 	 	

Corporate Finance
 
Pre-tax income of $91 million in the quarter was $30 million higher year over year, as higher other revenue due to a gain from a previously restructured loan exposure was partially offset by higher provision expense to support portfolio growth.
 
Net financing revenue increased $3 million year over year to $80 million. Other revenue increased $39 million year over year to $54 million due to the gain mentioned previously.
 
Provision for credit losses was $13 million, increasing $8 million from the prior-year period due to reserve build to support portfolio growth. Overall, the portfolio continues to reflect strong credit performance.
 
The held-for-investment loan portfolio of $9.4 billion includes 56% asset-based loans.
 
Mortgage Finance
 
Pre-tax income of $19 million was up $13 million year over year, driven by higher net financing revenue offset by lower other revenue.
 
Net financing revenue was up $21 million year over year to $57 million, reflecting growth in asset balances and lower prepayment activity. Other revenue decreased $12 million year over year to $7 million, primarily driven by lower gain on sale margins and unit volume.
 
Direct-to-consumer originations totaled $0.5 billion in the quarter, down 85% year over year given the contraction in the overall mortgage market. Refinance activity was down 98% year over year.
 
Existing Ally Bank deposit customers accounted for 50% of the quarter’s direct-to-consumer origination volume.

 
											
	 		  	Capital, Liquidity & Deposits	  		 		
 	 	 			  	 	 	 	
Capital
 
Ally paid a $0.30 per share quarterly common dividend, which was up 20% year over year. Additionally, Ally completed $415 million of share repurchases in the third quarter, including shares withheld to cover income taxes owed by participants related to share-based incentive plans. Ally’s board of directors approved a $0.30 per share common dividend for the fourth quarter of 2022.
 
Ally’s Common Equity Tier 1 (CET1) capital ratio decreased from 9.6% to 9.3% quarter over quarter while risk weighed assets (RWA) increased from $152.3 billion to $155.1 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 more than offset net income.
 
Liquidity & Funding
 
Consolidated cash and cash equivalentsF totaled $4.6 billion at quarter-end, up from $3.7 billion at the end of the second quarter. Total liquidityG was $27.3 billion at quarter-end.
 
Deposits represented 86% of Ally’s funding portfolio at quarter-end.
 
Deposits
 
Retail deposits increased to $133.9 billion at quarter-end, up $2.3 billion year over year and up $2.7 billion quarter over quarter. Total deposits increased $6.3 billion year over year to $145.8 billion and Ally maintained industry-leading customer retention at 96%.
 
The average retail portfolio deposit rate was 1.50% for the quarter, up 85 bps year over year and up 79 bps quarter over quarter.
 
Ally’s retail deposit customer base grew 6% year over year, totaling 2.6 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.
 
4

 
															
	 		  		  	Definitions of Non-GAAP Financial  Measures and Other Key Terms  	  		  		 		
 	 	 	  	 			  	 	  	 	 	 	
Ally believes the non-GAAP financial measures defined here are important to the reader of the Consolidated Financial Statements, but these are supplemental to and not a substitute for GAAP measures. See Reconciliation to GAAP below for calculation methodology and details regarding each measure.
Adjusted Earnings per Share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) 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.
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.
 
5

 
Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure determined by calculating the estimated average annualized yield for loans originated during the period. At this time there currently is no comparable GAAP financial measure for Estimated Retail Auto Originated Yield and therefore this forecasted estimate of yield at the time of origination cannot be quantitatively reconciled to comparable GAAP information.
Net Charge-Off Ratios are calculated as annualized net charge-offs divided by average outstanding finance receivables and loans excluding loans measured at fair value and loans held-for-sale.
Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Ally believes that Tangible Common Equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core Return on Tangible Common Equity (Core ROTCE), Tangible Common Equity is further adjusted for Core OID balance and net deferred tax asset. See page 6 for calculation methodology & details.

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

	 		  		  	Reconciliation to GAAP	  		  		 		

 

 
Adjusted Earnings per Share	  				  				 				 				
					
Numerator ($ millions)	  	 	 	  	3Q 22	 	 	2Q 22	 	 	3Q 21	 	
					
GAAP Net Income Attributable to Common Shareholders	  				  	$	272	 	 	$	454	 	 	$	683	 	
					
Discontinued Operations, Net of Tax	  				  	 	1	 	 	 	—	 	 	 	—	 	
					
Core OID	  				  	 	11	 	 	 	10	 	 	 	9	 	
					
Repositioning and Other	  				  	 	20	 	 	 	—	 	 	 	52	 	
					
Change in the Fair Value of Equity Securities	  				  	 	62	 	 	 	136	 	 	 	65	 	
					
Tax on: Core OID & Change in Fair Value of Equity Securities (21% starting 1Q18)	  				  	 	(20	) 	 	 	(31	) 	 	 	(26	) 	
					
Core Net Income Attributable to Common Shareholders	  	 	[a	] 	  	$	346	 	 	$	570	 	 	$	782	 	
					
Denominator	  				  				 				 				
					
Weighted-Average Common Shares Outstanding - (Diluted, thousands)	  	 	[b	] 	  	 	310,086	 	 	 	324,027	 	 	 	361,855	 	
					
Adjusted EPS	  	 	[a] ÷ [b	] 	  	$	1.12	 	 	$	1.76	 	 	$	2.16	 	

Core Return on Tangible Common Equity (ROTCE)	  				  				 				 				
					
Numerator ($ millions)	  	 	 	  	3Q 22	 	 	2Q 22	 	 	3Q 21	 	
					
GAAP Net Income Attributable to Common Shareholders	  				  	$	272	 	 	$	454	 	 	$	683	 	
					
Discontinued Operations, Net of Tax	  				  	 	1	 	 	 	—	 	 	 	—	 	
					
Core OID	  				  	 	11	 	 	 	10	 	 	 	9	 	
					
Repositioning and Other	  				  	 	20	 	 	 	—	 	 	 	52	 	
					
Change in Fair Value of Equity Securities	  				  	 	62	 	 	 	136	 	 	 	65	 	
					
Tax on: Core OID & Change in Fair Value of Equity Securities (21% starting 1Q18)	  				  	 	(20	) 	 	 	(31	) 	 	 	(26	) 	
					
Core Net Income Attributable to Common Shareholders	  	 	[a	] 	  	$	346	 	 	$	570	 	 	$	782	 	
					
Denominator (Average, $ millions)	  				  				 				 				
					
GAAP Shareholder’s Equity	  				  	$	13,209	 	 	$	14,699	 	 	$	17,410	 	
					
Preferred Equity	  				  	 	(2,324	) 	 	 	(2,324	) 	 	 	(2,324	) 	
					
GAAP Common Shareholder’s Equity	  				  	$	10,885	 	 	 	12,375	 	 	$	15,086	 	
					
Goodwill & Identifiable Intangibles, Net of Deferred Tax Liabilities (DTLs)	  				  	 	(915	) 	 	 	(926	) 	 	 	(371	) 	
					
Tangible Common Equity	  				  	$	9,970	 	 	$	11,449	 	 	$	14,714	 	
					
Core OID Balance	  				  	 	(858	) 	 	 	(868	) 	 	 	(926	) 	
					
Net Deferred Tax Asset (DTA)	  				  	 	(1,068	) 	 	 	(758	) 	 	 	(866	) 	
					
Normalized Common Equity	  	 	[b	] 	  	$	8,044	 	 	$	9,822	 	 	$	12,923	 	
					
Core Return on Tangible Common Equity	  	 	[a] ÷ [b	]	  	 	17.2 	% 	 	 	23.2  	% 	 	 	24.2 	% 	
 
6

 

Adjusted Tangible Book Value per Share	  				  				 				 				
					
Numerator ($ millions)	  	 	 	  	3Q 22	 	 	2Q 22	 	 	3Q 21	 	
					
GAAP Shareholder’s Equity	  				  	$	12,434	 	 	$	13,984	 	 	$	17,289	 	
					
Preferred Equity	  				  	 	(2,324	) 	 	 	(2,324	) 	 	 	(2,324	) 	
					
GAAP Common Shareholder’s Equity	  				  	$	10,110	 	 	$	11,660	 	 	$	14,965	 	
					
Goodwill and Identifiable Intangible Assets, Net of DTLs	  				  	 	(910	) 	 	 	(920	) 	 	 	(369	) 	
					
Tangible Common Equity	  				  	 	9,200	 	 	 	10,740	 	 	 	14,596	 	
					
Tax-effected Core OID Balance (21% starting in 4Q17)	  				  	 	(673	) 	 	 	(682	) 	 	 	(711	) 	
					
Adjusted Tangible Book Value	  	 	[a]	 	  	$	8,527	 	 	$	10,058	 	 	$	13,885	 	
					
Denominator	  				  				 				 				
					
Issued Shares Outstanding (period-end, thousands)	  	 	[b]	 	  	 	300,335	 	 	 	312,781	 	 	 	349,599	 	
					
Metric	  				  				 				 				
					
GAAP Common Shareholder’s Equity per Share	  				  	$	33.66	 	 	$	37.28	 	 	$	42.81	 	
					
Goodwill and Identifiable Intangible Assets, Net of DTLs per Share	  				  	 	(3.03	) 	 	 	(2.94	) 	 	 	(1.06	) 	
					
Tangible Common Equity per Share	  				  	$	30.63	 	 	$	34.34	 	 	$	41.75	 	
					
Tax-effected Core OID Balance (21% starting in 4Q17) per Share	  				  	 	(2.24	) 	 	 	(2.18	) 	 	 	(2.03	) 	
					
Adjusted Tangible Book Value per Share	  	 	[a] ÷ [b]	 	  	$	28.39	 	 	$	32.16	 	 	$	39.72	 	

					
Adjusted Efficiency Ratio	  				  				 				 				
					
Numerator ($ millions)	  	 	 	  	3Q 22	 	 	2Q 22	 	 	3Q 21	 	
					
GAAP Noninterest Expense	  				  	$	1,161	 	 	$	1,138	 	 	$	1,002	 	
					
Insurance Expense	  				  	 	(290	) 	 	 	(300	) 	 	 	(273	) 	
					
Repositioning and Other	  				  	 	(20	) 	 	 	—	 	 	 	—	 	
					
Adjusted Noninterest Expense for Adjusted Efficiency Ratio	  	 	[a]	 	  	$	851	 	 	$	838	 	 	$	729	 	
					
Denominator ($ millions)	  				  				 				 				
					
Total Net Revenue	  				  	$	2,016	 	 	$	2,076	 	 	$	1,985	 	
					
Core OID	  				  	 	11	 	 	 	10	 	 	 	9	 	
					
Repositioning Items	  				  	 	—	 	 	 	—	 	 	 	52	 	
					
Insurance Revenue	  				  	 	(260	) 	 	 	(178	) 	 	 	(297	) 	
					
Adjusted Net Revenue for Adjusted Efficiency Ratio	  	 	[b]	 	  	$	1,767	 	 	$	1,908	 	 	$	1,749	 	
					
Adjusted Efficiency Ratio	  	 	[a] ÷ [b]	 	  	 	48.2	% 	 	 	43.9	% 	 	 	41.7	% 	

				
Original Issue Discount Amortization Expense ($ millions)	 	  				 				 				
					
 	  	 	 	  	3Q 22	 	 	2Q 22	 	 	3Q 21	 	
				
Core Original Issue Discount (Core OID) Amortization Expense	 	  	$	11	 	 	$	10	 	 	$	9	 	
					
Other OID	  				  	 	3	 	 	 	2	 	 	 	3	 	
					
GAAP Original Issue Discount Amortization Expense	  				  	$	13	 	 	$	13	 	 	$	12	 	

				
Outstanding Original Issue Discount Balance ($ millions)	 	  				 				 				
					
 	  	 	 	  	3Q 22	 	 	2Q 22	 	 	3Q 21	 	
					
Core Outstanding Original Issue Discount Balance (Core OID Balance)	  				  	$	(852	) 	 	$	(863	) 	 	$	(900	) 	
					
Other Outstanding OID Balance	  				  	 	(36	) 	 	 	(39	) 	 	 	(29	) 	
					
GAAP Outstanding Original Issue Discount Balance	  	 	 	 	  	$	(888	) 	 	$	(901	) 	 	$	(929	) 	
 
7

 

($ millions)	  	 	 	 	 	 	 	 	 	  	 	 	
 	 	 	 	 	
Net Financing Revenue (ex. Core OID)	  	 	 	 	3Q 22	 	 	2Q 22	 	  	3Q 21	 	
					
GAAP Net Financing Revenue	  	 	[w]	 	 	$	        1,719	 	 	$	        1,764	 	  	$	        1,594	 	
					
Core OID	  				 	 	11	 	 	 	10	 	  	 	9	 	
					
Net Financing Revenue (ex. Core OID)	  	 	[a]	 	 	$	1,730	 	 	$	1,774	 	  	$	1,603	 	
					
Adjusted Other Revenue	  				 	 	3Q 22	 	 	 	2Q 22	 	  	 	3Q 21	 	
					
GAAP Other Revenue	  	 	[x]	 	 	$	297	 	 	$	312	 	  	$	391	 	
					
Accelerated OID & repositioning items	  				 	 	—	 	 	 	—	 	  	 	52	 	
					
Change in Fair Value of Equity Securities	  				 	 	62	 	 	 	136	 	  	 	65	 	
					
Adjusted Other Revenue	  	 	[b]	 	 	$	359	 	 	$	448	 	  	$	507	 	
					
Adjusted Total Net Revenue	  				 	 	3Q 22	 	 	 	2Q 22	 	  	 	3Q 21	 	
					
Adjusted Total Net Revenue	  	 	[a]+[b]	 	 	$	2,089	 	 	$	2,222	 	  	$	2,110	 	
					
Adjusted Provision for Credit Losses	  				 	 	3Q 22	 	 	 	2Q 22	 	  	 	3Q 21	 	
					
GAAP Provision for Credit Losses	  	 	[y	] 	 	$	438	 	 	$	304	 	  	$	76	 	
					
Adjusted Provision for Credit Losses	  	 	[c]	 	 	$	438	 	 	$	304	 	  	$	76	 	
					
Adjusted NIE (ex. Repositioning)	  				 	 	3Q 22	 	 	 	2Q 22	 	  	 	3Q 21	 	
					
GAAP Noninterest Expense	  	 	[z]	 	 	$	1,161	 	 	$	1,138	 	  	$	1,002	 	
					
Repositioning	  				 	 	(20	) 	 	 	—	 	  	 	—	 	
					
Adjusted NIE (ex. Repositioning)	  	[d]	 	 	$1,141	 	 	$1,138	 	  	$1,002	 	
					
Core Pre-Tax Income	  				 	 	3Q 22	 	 	 	2Q 22	 	  	 	3Q 21	 	
					
Pre-Tax Income	  	 	[w]+[x]-[y]-[z]	 	 	$	417	 	 	$	634	 	  	$	907	 	
					
Core Pre-Tax Income	  	 	[a]+[b]-[c]-[d]	 	 	 	$510	 	 	 	$780	 	  	 	$1,032	 	
					
Core Pre-Provision Net Revenue (Core PPNR)	  				 	 	3Q 22	 	 	 	2Q 22	 	  	 	3Q 21	 	
					
Pre-Provision Net Revenue	  	 	[w]+[x]-[z]	 	 	$	855	 	 	$	938	 	  	$	983	 	
					
Core Pre-Provision Net Revenue	  	 	[a]+[b]-[d]	 	 	$	948	 	 	$	1,084	 	  	$	1,108	 	

Insurance Non-GAAP Walk to Core Pre-Tax Income

($ millions)	  	  	 	 	3Q 2022	 	  	  	 	  	  	 	  	3Q 2021	 	  	  	 	
							
 	  	GAAP	 	 	Change in the
fair value of
equity
securities	 	  	Non-GAAP1	 	  	GAAP	 	  	Change in the
fair value of
equity
securities	 	  	Non-GAAP1	 	
Insurance	  				 				  				  				  				  				
							
Premiums, Service Revenue Earned and Other	  	$	292	 	 	$	—	 	  	$	    292	 	  	$	282	 	  	$	—	 	  	$	282	 	
							
Losses and Loss Adjustment Expenses	  	 	70	 	 	 	—	 	  	 	70	 	  	 	69	 	  	 	—	 	  	 	69	 	
							
Acquisition and Underwriting Expenses	  	 	220	 	 	 	—	 	  	 	220	 	  	 	204	 	  	 	—	 	  	 	204	 	
							
Investment Income and Other	  	 	(32	) 	 	 	62	 	  	 	30	 	  	 	15	 	  	 	65	 	  	 	80	 	
							
Pre-Tax Income from Continuing Operations	  	$	(30	) 	 	$	62	 	  	$	32	 	  	$	24	 	  	$	65	 	  	$	89	 	
1Non-GAAP line items walk to Core Pre-Tax Income, a non-GAAP financial measure that adjusts Pre-Tax Income.
 
8

 
															
	 		  		 	Additional Financial Information	  		  		 		
 	 	 	  	 			  	 	  	 	 	 	
For additional financial information, the third quarter 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	
sean.leary@ally.com	  	peter.gilchrist@ally.com	
 
9

3Q 2022 Exhibit Preliminary 99.2 Results Ally Financial Inc. 3Q 2022 Earnings Review October 19, 2022 Contact Ally Investor Relations at (866) 710-4623 or investor.relations@ally.com 1

3Q 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“SECfilings”). 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 “operatingleases” means consumer- and commercial-vehicle lease agreements where Ally is the lessor and the lessee is generally not obligated to acquire ownership of the vehicle at lease-end or compensate Ally for the vehicle’s residual value. The terms“lend,”“finance,” and“originate” mean our direct extension or origination of loans, our purchase or acquisition of loans, or our purchase of operating leases, as applicable. The term“consumer” means all consumer products associated with our loan and operating-lease activities and all commercial retail installment sales contracts. The term “commercial” means all commercial products associated with our loan activities, other than commercial retail installment sales contracts. The term “partnerships” means business arrangements rather than partnerships as defined by law. 2

3Q 2022 Preliminary Results GAAP & Core Results: Quarterly ($ millions, except per share data) 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 GAAP net income attributable to common shareholders (NIAC) $ 272 $ 454 $ 627 $ 624 $ 683 (1)(2) $ 346 $ 570 $ 687 $ 705 $ 782 Core net income attributable to common shareholders GAAP earnings per common share (EPS) (diluted, NIAC) $ 0.88 $ 1.40 $ 1.86 $ 1.79 $ 1.89 (1)(3) Adjusted EPS $ 1.12 $ 1.76 $ 2.03 $ 2.02 $ 2.16 Return on GAAP common shareholders' equity 10.0% 14.7% 18.0% 16.8% 18.1% (1)(4) 17.2% 23.2% 23.6% 22.1% 24.2% Core ROTCE GAAP common shareholders' equity per share $ 33.66 $ 37.28 $ 39.99 $ 43.58 $ 42.81 (1)(5) $ 2 8.39 $ 32.16 $ 35.04 $ 38.73 $ 39.72 Adjusted tangible book value per share (Adjusted TBVPS) Efficiency ratio 57.6% 54.8% 52.6% 49.6% 50.5% (1)(6) Adjusted efficiency ratio 48.2% 43.9% 45.6% 44.4% 41.7% GAAP total net revenue $ 2,016 $ 2,076 $ 2,135 $ 2,199 $ 1,985 (1)(7) $ 2 ,089 $ 2,222 $ 2,210 $ 2,197 $ 2,110 Adjusted total net revenue (1)(8) Pre-provision net revenue $ 855 $ 938 $ 1,013 $ 1,109 $ 983 (1)(8) Core pre-provision net revenue $ 948 $ 1,084 $ 1,088 $ 1,107 $ 1,108 Effective tax rate 28.1% 24.0% 22.6% 26.8% 21.5% (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

3Q 2022 Preliminary Results 3Q 2022 Financial Results Focused Execution Leading, Growing Businesses Durable Returns $1.12 17.2% $2.1B 9.3% Adjusted Total Core CET1 Adjusted (1) (1) (1) ROTCE Net Revenue Capital Ratio EPS Notable Items within the Quarter • $133M of reserve build to support profitable loan growth • $136M impairment on a nonmarketable equity investment related to our mortgage origination partner – Revised carrying value of $19M • $20M of noninterest expense related to the termination of legacy pension plan – Additional impact to be recorded in 4Q; ~$55M noninterest expense | ~$60M deferred tax expense • $21M valuation allowance against tax credits (5pp impact to effective tax rate) (1) $ in millions Revenue Provision Expense GAAP EPS Adj. EPS Reserve Build - $133 - ($0.33) ($0.33) (Loan Growth) Impairment ($136) - - ($0.33) ($0.33) Pension - - $20 ($0.05) - Tax Expense ($0.07) ($0.07) Total ($136) $133 $20 ($0.78) ($0.73) (1) Represents a non-GAAP financial measure. See pages 34, 36, and 39 for calculation methodology and details. 4

3Q 2022 Preliminary Results 3Q 2022 Operational Highlights Solid operating performance across established and growing businesses Auto & Insurance • Consumer auto originations of $12.3B | Strong underwriting & risk management capabilities supporting profitable asset growth 1 • 8.75% estimated retail auto originated yield, ↑165bps YoY and 93bps QoQ, demonstrating continued pricing momentum • Nearly 23K active U.S. dealer relationships providing 3.1M decision applications • 7 millionth vehicle sold on SmartAuction platform | Digital platform delivering fee revenue and deepening dealer relationships • Insurance written premiums of $291M | $5.6B investment management portfolio Ally Bank • Deposits: $133.9B of retail deposits, ↑$2.7B QoQ | 2.6M retail depositors | On track for FY retail balance growth • Ally Home®: $521M originations, ↓85% YoY, reflective of industry trends | $19.7B HFI balance • Ally Invest: $13.1B net customer assets | 521k active accounts • Ally Lending: $599M gross originations | 426k active borrowers | 3.5k active merchants • Ally Credit Card: $1.4B credit card loan balances | 1.0M active cardholders • Corporate Finance: $9.4B HFI loan portfolio | Strong growth in lower risk, asset-based lending segment (1) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure. See page 31 for details. 5

3Q 2022 Preliminary Results Consumer Saving and Spending Trends Consumers remain healthy despite persistent inflation • Average savings balances across income segments are up ~30% compared to March 2020 – Elevated tax outflows in 2Q driving temporary decrease in balance • Consumers spending remains robust, ~20% above pre-pandemic levels – Continued strength in spending while financial obligations for consumers remain historically low Ally Savings Account Balance by Income Segment Ally Average Debit Card Spend by Income Segment Greater than $50K | Less than $50K Greater than $50K | Less than $50K +32% +28% +24% +23% Mar. Sept. Mar. Sept. 2020 2022 2020 2022 6

3Q 2022 Preliminary Results 3Q 2022 Financial Results Inc / (Dec) v. 3Q 22 Consolidated Income Statement 2Q 22 3Q 21 2Q 22 3Q 21 ($ millions, except per share data) (1) $ 1 ,730 $ 1 ,774 $ 1,603 $ (45) $ 126 Net financing revenue (ex. Core OID) (1) (11) (10) (9) (0) ( 1) Core OID Net financing revenue $ 1 ,719 $ 1,764 $ 1,594 $ (45) $ 125 Includes $136M (1) 359 448 507 (89) (148) Adjusted other revenue impairment of (2) nonmarketable equities Repositioning & change in fair value of equity securities (62) (136) (116) 74 54 Other revenue 297 312 391 (15) (94) Net charge-offs 276 153 54 123 222 Provision build 162 151 22 11 140 Provision for credit losses 438 304 76 134 362 Noninterest expense (ex. Repositioning) 1,141 1,138 1,002 3 139 Impact from termination of Repositioning items 20 - - 20 20 legacy qualified pension plan Noninterest expense 1,161 1,138 1,002 23 159 Pre-tax income $ 417 $ 634 $ 907 $ (217) $ (4 90) Income tax expense 117 152 195 (35) (78) Net loss from discontinued operations ( 1) - - ( 1) (1) Net income $ 299 $ 482 $ 712 $ (183) $ (413) Preferred stock dividends 27 28 29 ( 1) ( 2) Net income attributable to common stockholders $ 272 $ 454 $ 683 $ (182) $ (411) GAAP EPS (diluted) $0 .88 $ 1.40 $1 .89 $ (0.52) $ (1.01) (1) 0 .03 0 .02 0.02 0.00 0 .01 Core OID, net of tax Change in fair value of equity securities, net of tax 0 .16 0 .33 0 .14 ( 0.17) 0 .02 (3) 0.05 - 0.11 0 .05 ( 0.06) Repositioning, discontinued ops., and other, net of tax (4) $ 1.12 $1 .76 $ 2.16 $ ( 0.64) $ (1.04) Adjusted EPS Notable Items (EPS Impact) Other revenue: Impairment of nonmarketable equity investment $ ( 0.33) Provision for credit losses: Reserve build $ ( 0.33) (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. 7

3Q 2022 Preliminary Results Balance Sheet & Net Interest Margin 3Q 22 2Q 22 3Q 21 Average Average Average Balance Balance Balance Yield Yield Yield ($ millions) Retail Auto Loan $ 82,362 7.29% $ 79,695 6.82% $ 76,557 6.62% Retail Auto Loan (ex. hedge impact) 7.04% 6.85% 6.84% Auto Lease (net of depreciation) 10,588 5.98% 10,615 6.66% 10,919 9.21% Commercial Auto 15,945 4.81% 16,211 3.65% 13,887 3.54% Corporate Finance 9 ,291 6.30% 8 ,351 5.02% 6 ,735 5.12% (1) 19,762 3.10% 18,980 3.01% 15,125 2.83% Mortgage (2) 1,672 11.04% 1,346 11.94% 728 13.86% Consumer Other - Ally Lending (3) Consumer Other - Ally Credit Card 1 ,300 21.17% 1 ,093 19.71% - - Cash and Cash Equivalents 3,627 1.73% 3 ,761 0.61% 13,055 0.14% (4) 34,578 2.55% 35,050 2.35% 35,532 1.76% Investment Securities & Other Earning Assets $ 179,125 5.59% $ 175,103 5.11% $ 172,538 4.68% (4) Total Loans and Leases 141,332 6.43% 136,663 5.93% 124,290 5.99% (5) $ 142,793 1.58% $ 139,814 0.76% $ 139,244 0.70% Deposits (6) 10,046 4.99% 9 ,674 5.04% 9,787 5.19% Unsecured Debt Secured Debt 1,374 6.08% 1 ,154 6.61% 1 ,675 4.29% (7) Other Borrowings 12,502 2.48% 11,966 1.75% 4,929 3.42% (6) $ 166,715 1.89% $ 162,608 1.12% $ 155,635 1.11% Funding Sources (6) 3.83% 4.06% 3.68% NIM (ex. Core OID) NIM (as reported) 3.81% 4.04% 3.66% (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. 8

3Q 2022 Preliminary Results Net Interest Margin Dynamics NIM projected to reach +/- 3.5% as Fed Funds peaks • Rapidly rising rates and liability sensitive balance sheet creating near term NIM compression • Two largest portfolios respond differently to changes in benchmark rates – Retail Auto: Fixed rate, increased pricing on new assets only, requires portfolio turnover – Deposits: Largely liquid (~70% OSA), pricing changes affect entire portfolio immediately • Projections assume Fed Funds peak of ~5% in early 2023 • Projecting continued retail portfolio yield expansion and stable deposit pricing following Fed Funds peak • Anticipated growth in high margin unsecured loans and floating assets provide an additional NIM benefit Deposit Pricing Dynamics Retail Auto Pricing Dynamics 50% Prospective Beta For Illustration 75% Prospective Beta For Illustration Mid-8% Estimated & Originated Low-3% (1) Increasing Yield & Stable Portfolio EoP OSA Yield Yield (incl. Hedge) Retail Deposit Portfolio Yield Cumulative Pricing Cumulative Pricing 0.25% 1.35% 2.25% 0.00% 0.50% 1.60% % of Portfolio Re-priced Since March 2022 % of OSA Portfolio Re-priced Since March 2022 15% 25% 35% 65% 0% 100% 100% 100% 100% n/m 9

3Q 2022 Preliminary Results Capital • 3Q 2022 CET1 ratio of 9.3% Capital Ratios and Risk-Weighted Assets • Strong commitment to driving shareholder value – Organic loan expansion driving long-term, sustainable returns Total Capital – Executed $415 million of repurchases in 3Q (~$1.6B YTD) Ratio Tier 1 Ratio – Announced 4Q common dividend of $0.30 per share CET1 Ratio • Prudent capital allocation amid highly uncertain Risk macroeconomic backdrop Weighted Assets ($B) – Expect FY 2022 repurchases of $1.7B; minimal activity In 4Q • Well-positioned for a variety of operating environments with $3.6B of CET1 capital above FRB requirement of 7.0% (Regulatory Minimum + SCB) 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. ~300,335,089 actual shares outstanding as of 9/30/22. 10

3Q 2022 Preliminary Results Asset Quality: Key Metrics Consolidated Net Charge-Offs (NCOs) Net Charge-Off Activity ($ millions) 3Q 19 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 Retail Auto $ 253 $ 51 $ 94 $ 113 $ 108 $ 217 Annualized NCO Rate Commercial Auto 1 - - (1) (1) - Mortgage Finance - - - - (1) 1 Corporate Finance 15 - 1 - 26 31 NCOs ($M) Ally Lending - 5 9 15 13 16 (1) Ally Credit Card - - 2 8 11 13 (2) Corp/Other (2) (2) (3) (2) (3) (2) Total $ 267 $ 54 $ 103 $ 133 $ 153 $ 276 (1) 4Q’21 Ally Credit Card NCOs represent December 2021 activity only (2) Corp/Other includes legacy Mortgage HFI portfolio. Note: Ratios exclude loans measured at fair value and loans held-for-sale. See page 31 for definition. Retail Auto Delinquencies Retail Auto Net Charge-Offs (NCOs) 30+ DPD Delinquency Rate 60+ DPD Annualized Delinquency NCO Rate Rate 60+ Delinquent NCOs ($M) Contracts ($M) See page 31 for definition. Note: Includes accruing contracts only. Days Past Due (“DPD”) 11

3Q 2022 Preliminary Results Asset Quality: Retail Auto Credit Normalization • Auto portfolio today reflects slightly higher loss content and materially higher risk-adjusted yields • Given strategic shift to prime & used, net charge-offs are expected to migrate to 1.6%, ↑30 bps vs. 2019 • Normalized 30+ DPD Delinquency of 3.4-3.8% would reflect 30-70 basis points of elevation vs. 2019 • Strong dealer engagement and pricing posture has led to higher originated yields, ↑125 bps vs. 3Q ’19 – After normalizing for higher benchmark rates, yields are ↑100bps vs 30bps increase in expected losses 1 Retail Auto Loan Pricing: Originated Yield vs. Fed Funds Normalized Retail Auto NCO and 30+ DPD Delinquency Annual Averages Vintage Lifetime NCO Expectation: ~1.6% Vintage Lifetime NCO Expectation: ~1.6% Annual Avg. 30+ DPD ~1.6% Annual Avg. Avg. Retail DQ Rate 30+ DPD Avg. Retail Origination DQ Rate Origination Yield Yield Retail Retail Avg. Fed NCO % Avg. Fed NCO % Funds Funds Target % Target % 2023 - 2024 2019 Portfolio ormalized Outlook 3Q 19 3Q 22 Retail Auto NCO and Delinquency expected to normalize in 2023 (1) Estimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure. See page 31 for details. Note: Days Past Due (“DPD”) includes accruing contracts only. See page 31 for Net charge-offs (NCO) definition. 12

3Q 2022 Preliminary Results Asset Quality: Coverage & Reserves Consolidated Coverage Retail Auto Coverage Includes 2bps from Hurricane Ian ($ 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 All3Q’22 2Q’22 1 2 3 off Activity Size Other Reserve Reserve ($276) 3Q’22 NCOs $133 $28 Loan Growth Includes macroeconomic $3,450 $3,611 $276 Replenished trends ($0.33) EPS Impact Increases in 3Q reserves primarily driven by continued strength in origination volume 13

3Q 2022 Preliminary Results Ally Bank: Deposit & Customer Trends • Total deposits of $146 billion, up $6.3 billion YoY Total Deposits: Retail & Brokered ($ billions; EoP) – Retail deposits of $133.9 billion, up $2.7 billion QoQ; up $2.3 billion YoY Industry Leading 96% Customer Retention Rate – Consistent monthly growth in retail balances following net outflow in 2Q driven by elevated tax payments ▪ Continue to expect full year 2022 retail deposit growth Brokered / Other – 86% core-funded with deposits Avg. Retail Portfolio • 2.6 million retail deposit customers, up 6% YoY Interest Rate Retail th – 51k net new customers, Ally’s c54 onsecutive quarter of growth Balances ▪ 69% of new 3Q customers were from millennial or younger generations • Efficient deposit gathering platform with less than 30bps of noninterest expense 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 Retail Deposit Balance Growth by Customer Type New Customers | Existing Customers Total Customers 2.6M Consistent Growth From Both New & Existing Customers Net New Customers per Quarter 1.1M 14

3Q 2022 Preliminary Results Ally Bank: Leading, Growing & Diversified $ # 2.6M 54 134B 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 Ally Invest (Brokerage & Wealth) • Leading, all-digital direct bank with engaged and Net Customer Assets ($ in billions) | Acquired: 2Q’16 growing customer base % of New 79% Accts from – Personalized, seamless, digital experience for all 73% 72% 71% Existing 70% customers Customers – Complementary businesses strengthen deposit franchise with highly engaged customers Net – Continued momentum in unsecured lending segments; Funded loan growth, ↑ ~$1.6B YoY and ~$0.5B QoQ Accounts (k) – Disciplined investment in organic loan growth, technology, and brand, positioning Ally for long-term, sustainable returns Ally Lending (Point of Sale) Ally Credit Card EoP Portfolio Balances ($ in billions) | 3.5k merchant relationships EoP Portfolio Balances ($ in billions) | 63% Customer CAGR since 2017 Acquired: 4Q’19 Acquired: 4Q’21 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

3Q 2022 Preliminary Results Auto Finance Inc / (Dec) v. • Auto pre-tax income of $488 million Key Financials ($ millions) 3Q 22 2Q 22 3Q 21 – Pre-tax income, down QoQ and YoY, primarily driven by higher Net financing revenue $ 1,303 $ 2 $ (26) provision for credit losses from robust consumer origination Total other revenue 74 2 13 volume and expected normalization of credit performance Total net revenue 1,377 4 (13) • Prepayment activity beginning to moderate, reducing Provision for credit losses 328 100 275 pressure on retail auto yields (1) Noninterest expense 561 16 49 • Significant lessee and dealer buyout activity Pre-tax income $ 488 $ (112) $ (337) continuing to limit lease gain upside U.S. auto earning assets (EOP) $ 110,862 $ 2,046 $ 9,623 • Ability to generate robust application flow and strong Key Statistics pricing while facing industry-wide inventory challenges Remarketing gains ($ millions) $ 39 $ ( 10) $ (47) highlights Ally’s unique dealer value proposition Average gain per vehicle $ 1,325 $ (346) $ (1,169) – Comprehensive product suite with breadth and depth Off-lease vehicles terminated (# units) 29,562 ( 103) ( 4,913) Application volume (# thousands) 3,149 (147) (109) – High-tech, high-touch dealer relationship model Retail Auto Yield Trends Lease Portfolio Trends Estimated Lessee Originated (2) & Yield Dealer Buyout % Portfolio Yield (ex. Hedge) Remarketing Gains ($ millions) Hedge Impact to Retail Auto Portfolio Yield Avg. Gain / Unit 0.01% (0.22%) (0.20%) (0.14%) (0.03%) 0.25% $944 $2,495 $2,339 $1,640 $1,671 $1,325 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

3Q 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) Lease Relationships 9.6M YTD Retail U.S. Consumer Applications Commercial 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. 17

3Q 2022 Preliminary Results Insurance Inc / (Dec) v. • Insurance pre-tax loss of $30 million and core pre-tax Key Financials ($ millions) 3Q 22 2Q 22 3Q 21 income of $32 million Premiums, service revenue earned and other $ 292 $ 7 $ 10 VSC Losses 35 (3) 2 – $292 million of earned premiums demonstrates resilient revenue Weather Losses 8 (18) (3) stream and solid business model in volatile market backdrop Other Losses 27 2 2 – Losses down QoQ, driven by seasonal weather patterns, and include Losses and loss adjustment expenses 70 (19) 1 (2) the estimated impacts of Hurricane Ian Acquisition and underwriting expenses 220 9 16 Total underwriting income 2 17 (7) – Investment income of $30 million, lower YoY, driven by elevated (1) Investment income and other (adjusted) 30 1 (50) investment gains in prior year period and current market conditions (1) Core pre-tax income $ 32 $ 18 $ (57) (3) Change in fair value of equity securities (62) 74 3 • Written premiums of $291 million reflects strong operating performance while navigating near-term industry Pre-tax loss $ ( 30) $ 92 $ ( 54) headwinds Total assets (EOP) $ 8,533 $ (286) $ (821) – Strong F&I written premiums despite lower industry sales, while P&C Key Statistics - Insurance Ratios 3Q 22 2Q 22 3Q 21 business gradually recovering from record low inventory levels Loss ratio 23.9% 31.2% 24.4% Underwriting expense ratio 74.8% 74.8% 72.0% – Disciplined focus on deepening and growing dealer relationships Combined ratio 98.7% 106.0% 96.4% Hurricane Ian Insurance Written Premiums ($ millions) $40-60B $1.2B $<4M Potential Insurance Insured Value of Ally Expected Hurricane Industry Losses Inventory within Ian’s Path Ian Losses P&C Premium Mitigating Actions: – Dedicated response team manages potential exposure to weather losses – Proactive outreach to all dealers one week in advance of landfall F&I Premium – Incentives for dealers that relocated vehicles – Reinsurance protection to minimize loss exposure to catastrophic events (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 18 For additional footnotes see page 32. casualty insurance products.

3Q 2022 Preliminary Results Corporate Finance Inc / (Dec) v. • Corporate Finance pre-tax income of $91 million Key Financials ($ millions) 3Q 22 2Q 22 3Q 21 – Net financing revenue up YoY and QoQ reflecting higher asset Net financing revenue $ 80 $ 3 $ 3 balances (1) Adjusted total other revenue 54 35 39 (1) Adjusted total net revenue 134 38 42 – Other revenue up YoY and QoQ driven by a realized gain related to Provision for credit losses 13 5 8 a previously restructured loan exposure (2) Noninterest expense 30 2 3 • Held-for-investment loans of $9.4B, up 42% YoY (1) Core pre-tax income $ 91 $ 31 $ 31 (3) – Continued focus on asset-based originations Change in fair value of equity securities 0 (0) (1) Pre-tax income $ 91 $ 31 $ 30 • High quality, 100% floating-rate lending portfolio Total assets (EOP) $ 9,840 $ 950 $ 3,111 – Comprised of 56% asset-based loans with 99.9% in first lien position HFI Loans and Unfunded Commitments Diversified Loan Portfolio ($ billions; EoP) (as of 9/30/22) All Other 7.9% Chemicals & Metals 2.4% Unfunded Wholesale Commitments 12% 1.2% Construction Services 0.4% Paper & Publishing 41.5% Financial Services 15.0% Health Services 71% 13.4% Other Services Manufacturing 17% 0.3% Food & Beverage HFI 8.6% Auto & Transportation Loans 6.8% Machinery Equipment 1.3% Retail Trade 1.2% Other Manufacturing 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 32. 19

3Q 2022 Preliminary Results Mortgage Finance Inc / (Dec) v. • Mortgage pre-tax income of $19 million Key Financials ($ millions) 3Q 22 2Q 22 3Q 21 – Net financing revenue, up $21 million YoY, reflecting growth in Net financing revenue $ 57 $ 1 $ 21 asset balances Total other revenue 7 3 (12) – Other revenue, down $12 million YoY, driven by decreased Total net revenue $ 64 $ 4 $ 9 gain on sale margins and lower HFS units Provision for credit losses 2 2 - (1) Noninterest expense 43 (11) (4) • Direct-to-Consumer (DTC) originations of $0.5 billion, Pre-tax income $ 19 $ 13 $ 13 down 85% YoY, reflecting higher interest rate environment and broader economic slowdown Total assets (EOP) $ 19,862 $ 736 $ 3,534 – 50% of 3Q originations from existing depositors Mortgage Finance HFI Portfolio 3Q 22 2Q 22 3Q 21 Net Carry Value ($ billions) $ 19.7 $ 18.9 $ 16.0 • Ally’s original investment in Better mortgage totaled (2) 54.2% 53.7% 57.6% $25.5 million. In 2021, Ally sold a portion of its Wtd. Avg. LTV/CLTV investment, realizing a gain of $38 million. Following Refreshed FICO 780 779 776 3Q impairment, remaining carrying value is $19 million Mortgage: Held-for-Investment Assets Mortgage: Direct-to-Consumer Originations ($ billions) ($ billions) DTC DTC HFS Bulk DTC HFI Bulk $0.8 $1.2 $0.7 $0.8 $0.8 $1.1 See page 32 for footnotes. 20

3Q 2022 Preliminary Results Navigating a Challenging Environment Delivering solid operating performance while preparing for continued volatility ↑ 475bps ↓11% ↓1% Expected Fed Funds increase Vehicle Sales vs. 2019 YTD Industry Total Most since 1980 New and Used Deposit Growth Ally Originations ↑32% vs. 2019 Significant Reserves and Capital FY Consumer Auto Originations $48B 12-month R&S period | Reversion to 6.5% UER Consistent risk profile | reflects power of Ally’s Reserves ↑ xvs ‘19,↑$ B vs. CECL Day 1 scale and depth of dealer relationships CET1 ↑ $3.6B vs. SCB requirement Auto Risk Based Pricing Oct. YTD pricing ↑ within Retail Auto 245bps Yields >8% provide meaningful loss absorption capacity Ability to pass-through pricing, reflective of strategic focus on Prime and Used Dynamic Underwriting Continuous buy-box refinement informed by multi-factor credit decisioning process FY 2022 Retail Deposit Growth $2-3B Solid growth amid industry contraction & record Auto Servicing & Collections Capabilities tax outflows | primary customers ↑ 5% YTD Advanced digital tools | Seasoned in-house staff with ability to scale ↑ through vendor staff augmentation ~3.50% ~1.00% ~$1.00 $2-3B 1 1 NIM (ex. OID) Consolidated NCOs Adjusted EPS Loan Growth Expect near term NIM Anticipate near term Anticipate continued Project accretive growth in compression as deposits normalization and fourth pressure, continued consumer loan & corporate reprice faster than assets quarter NCO seasonality credit normalization finance portfolios (assumes flat coverage rates) (1) Represents a non-GAAP financial measure. See pages 34 and 39 for details and calculation methodology. See page 31 for Net charge-offs (NCO) definition. 21 Operational Macro 4Q Outlook Execution Backdrop Preparing for Uncertainty

3Q 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

3Q 2022 Preliminary Results Supplemental 23

3Q 2022 Preliminary Results Supplemental Results by Segment Core pre-tax income Walk Inc / (Dec) v. ($ millions) Segment Detail 3Q 22 2Q 22 3Q 21 2Q 22 3Q 21 Automotive Finance $ 488 $ 600 $ 825 $ (112) $ (337) Insurance (3 0) (1 22) 24 92 (5 4) Dealer Financial Services $ 458 $ 478 $ 849 $ (2 0) $ (391) Corporate Finance 91 60 61 31 30 Mortgage Finance 19 6 6 13 13 Corporate and Other (151) 90 (9 ) (241) (1 42) $ (217) $ (4 90) Pre-tax income from continuing operations $ 417 $ 634 $ 907 (1) Core OID 11 10 9 0 1 (2) Change in fair value of equity securities 62 136 65 (74) (2) (3) Repositioning and other 20 - 52 20 (3 1) (1) $ (271) $ (5 23) $ 510 $ 780 $ 1 ,032 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

3Q 2022 Preliminary Results Supplemental Funding Profile Details Funding Mix Deposit Mix Unsecured Brokered / FHLB / Other 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 9/30/2022. 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

3Q 2022 Preliminary Results Supplemental Corporate and Other Inc / (Dec) v. ($ millions) • Pre-tax loss of $151 million, Core pre-tax loss of $120 Key Financials 3Q 22 2Q 22 3Q 21 Net financing revenue $ 255 $ (55) $ 117 million, primarily driven by unrealized loss on Total other revenue (74) (133) (86) nonmarketable equity investments Total net revenue $ 181 $ (188) $ 31 Provision for credit losses 95 27 79 • Higher YoY net financing revenue driven by increased Noninterest expense 237 26 94 yield on securities portfolio and reduced cash Pre-tax income / (loss) $ (151) $ ( 241) $ (142) (1) Core OID 11 0 1 balances (2) Repositioning and other 20 20 (31) (3) Change in fair value of equity securities (0) (0) (1) - - • Total assets down YoY primarily driven by normalized (1) Core pre-tax income / (loss) $ (120) $ (221) $ (173) cash balances Cash & securities $ 31,181 $ (1,143) $ (9,511) (4) Held-for-investment loans, net 2,727 281 1,291 (5) Intercompany loan (390) 21 508 (5) Other 7,773 442 1,847 Total assets $ 41,291 $ (399) $ (5,865) Ally Financial Rating Details Ally Invest 3Q 22 2Q 22 3Q 21 Net Funded Accounts (k) 520.8 518.2 502.9 LT Debt ST Debt Outlook Average Customer Trades Per Day (k) 29.1 33.7 40.8 Total Customer Cash Balances $ 1,917 $ 2,027 $ 2,175 Fitch BBB- F3 Stable Total Net Customer Assets $ 13,095 $ 13,508 $ 16,290 Moody's Baa3 P-3 Stable S&P BBB- A-3 Stable DBRS BBB R-2H Stable Ally Lending 3Q 22 2Q 22 3Q 21 Note: Ratings as of 9/30/2022. Our borrowing costs & access to the capital markets could be negatively impacted Gross Originations $ 599 $ 591 $ 362 if our credit ratings are downgraded or otherwise fail to meet investor expectations or demands. Held-for-investment Loans (EOP) $ 1,813 $ 1,523 $ 836 Portfolio yield 11.0% 11.9% 13.9% NCO % 3.9% 4.0% 2.8% Ally Credit Card 3Q 22 2Q 22 3Q 21 Gross Receivable Growth (EOP) $ 203 $ 189 $ 131 Outstanding Balance (EOP) $ 1,427 $ 1,224 $ 765 NCO % 4.0% 3.8% 2.6% Active Cardholders (k) 1,009.6 9 08.4 671.2 (1) Represents a non-GAAP financial measure. See pages 38 and 39 for calculation methodology and details. Note: Ally Credit Card metrics are not reflected in Ally’s 3Q’21 consolidated results See page 33 for additional footnotes. 26

3Q 2022 Preliminary Results Supplemental Interest Rate Risk and Hedging (1) Net Financing Revenue Sensitivity Analysis ($ millions) 3Q 22 2Q 22 (2) (2) Change in interest rates Gradual Instantaneous Gradual Instantaneous -100 bps $ 7 $ 95 $ ( 25) $ 73 +100 bps $ ( 3) $ (99) $ 26 $ (79) Stable rate environment n/m $ 690 n/m $ 751 (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. Fair Value Hedging on Fixed-Rate Consumer Auto Loans 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 Effective Hedge Notional Outstanding $21B $21B $21B $15B $10B $6B Average Pay-Fixed Rate 1.50% 1.50% 1.50% 1.50% 1.40% 0.90% * Receive float combination of SOFR/OIS 27

3Q 2022 Preliminary Results Supplemental Deferred Tax Asset (1) Deferred Tax Asset 3Q 22 2Q 22 Gross DTA Valuation Net DTA Net DTA Balance Allowance Balance Balance Net Operating Loss (Federal) $ 620 $ - $ 620 $ 516 Tax Credit Carryforwards 1 ,179 ( 754) 425 394 State/Local Tax Carryforwards 324 ( 140) 184 151 Other Deferred Tax Assets / (Liabilities) (6) - (6) (179) Net Deferred Tax Asset $ 2,117 $ ( 894) $ 1,224 $ 882 (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 Net GAAP DTA Balance Disallowed DTA ($ millions) $1,224 $882 $839 $609 $244 $48 $2 $6 $5 $4 3Q 21 4Q 21 1Q 22 2Q 22 3Q 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

3Q 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 la iste do r in cum th ent. 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

3Q 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

3Q 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

3Q 2022 Preliminary Results Supplemental Additional Notes 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 $259 million in 3Q 2022, $245 million in 2Q 2022, and $234 million in 3Q 2021. Page – 17 | Auto Finance: Agile Market Leader (1) ‘Prime Auto Lender’ - Source: PIN Navigator Data & Analytics, a business division of J.D. Power. The credit scores provided within these reports have been provided by FICO® Risk Score, Auto 08 FICO® is a registered trademark of Fair Isaac Corporation in the United States and other countries. Ally management defines retail auto market segmentation (unit based) for consumer automotive loans primarily as those loans with a FICO® Score (or an equivalent score) at origination by the following: • Super-prime 720+, Prime 620 – 719, Nonprime less than 620 (2) ‘Bank Floorplan Lender’ - Source: Company filings, including WFC and HBAN. (3) ‘Retail Auto Loan Outstandings’ - Source: Big Wheels Auto Finance Data 2021. (4) ‘#1 Dealer Satisfaction among Non-Captive Lenders with Sub-Prime Credit’ - Source: J.D. Power. (5) ‘Active U.S. Dealers’ defined as all dealers who utilize one or more of Ally’s products including consumer & commercial lending, SmartAuction or Commercial Services Group and excludes RV Commercial & Consumer lines of business exited in 2Q 2018. Page – 18 | Insurance (2) Acquisition and underwriting expenses includes corporate allocations of $24 million in 3Q 2022, $22 million in 2Q 2022, and $22 million in 3Q 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 – 19 | Corporate Finance (2) Noninterest expense includes corporate allocations of $11 million in 3Q 2022, $11 million in 2Q 2022, and $10 million in 3Q 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 – 20 | Mortgage Finance (1) Noninterest expense includes corporate allocations of $27 million in 3Q 2022, $30 million in 2Q 2022, and $24 million in 3Q 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. 32

3Q 2022 Preliminary Results Supplemental Additional Notes Page – 24 | Results by Segment (2) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corp/Other segments. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. (3) Repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods or businesses. Page – 26 | Corporate and Other (2) Repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods or businesses. (3) Change in fair value of equity securities impacts the Corporate and Other segment. Reflects equity fair value adjustments related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity. (4) HFI legacy mortgage portfolio and HFI Ally Lending portfolio. (5) Intercompany loan related to activity between Insurance and Corporate for liquidity purposes from the wind down of the Demand Notes program. Includes loans held- for-sale. 33

3Q 2022 Preliminary Results Supplemental GAAP to Core Results: Adjusted EPS Adjusted Earnings per Share ( Adjusted EPS ) QUARTERLY TREND 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 Numerator ($ millions) GAAP net income / (loss) attributable to common shareholders $ 272 $ 454 $ 627 $ 624 $ 683 $ 900 $ 796 $ 687 $ 476 $ 241 $ (319) $ 378 $ 381 Discontinued operations, net of tax 1 - - 6 - (1) - - - 1 - 3 - Core OID 11 10 10 9 9 9 10 9 9 9 8 8 7 Repositioning Items 20 - - 107 52 70 - - - 50 - - - Change in fair value of equity securities 62 136 66 (21) 65 (19) ( 17) (111) ( 13) ( 90) 185 ( 29) 11 Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) ( 20) ( 31) ( 16) ( 20) (26) ( 13) 1 21 1 17 (41) 4 (4) Significant discrete tax items - - - - - ( 78) - - - - - - - Core net income / (loss) attributable to common shareholders [a] $ 346 $ 570 $ 687 $ 705 $ 782 $ 868 $ 790 $ 606 $ 473 $ 228 $ (166) $ 364 $ 396 Denominator Weighted-average common shares outstanding - (Diluted, thousands) [b] 310,086 324,027 337,812 348,666 361,855 373,029 377,529 378,424 377,011 375,762 375,723 383,391 3 92,604 Metric GAAP EPS $ 0.88 $ 1.40 $ 1.86 $ 1.79 $ 1.89 $ 2.41 $ 2.11 $ 1.82 $ 1.26 $ 0.64 $ (0.85) $ 0.99 $ 0.97 Discontinued operations, net of tax 0.00 - - 0.02 - (0.00) - - - 0.00 - 0.01 - Core OID 0.03 0.03 0.03 0.03 0.03 0.02 0.03 0.02 0.02 0.02 0.02 0.02 0.02 Change in fair value of equity securities 0.20 0.42 0.19 (0.06) 0.18 (0.05) (0.04) (0.29) (0.04) (0.24) 0.49 (0.08) 0.03 Repositioning Items 0.06 - - 0.31 0.14 0.19 - - - 0.13 - - - Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (0.06) (0.09) (0.05) (0.06) (0.07) (0.03) 0.00 0.06 0.00 0.05 (0.11) 0.01 (0.01) Significant discrete tax items - - - - - (0.21) - - - - - - - Adjusted EPS [a] / [b] $ 1.12 $ 1.76 $ 2.03 $ 2.02 $ 2.16 $ 2.33 $ 2.09 $ 1.60 $ 1.25 $ 0.61 $ (0.44) $ 0.95 $ 1.01 (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

3Q 2022 Preliminary Results Supplemental GAAP to Core Results: Adjusted TBVPS Adjusted Tangible Book Value per Share ( Adjusted TBVPS ) QUARTERLY TREND 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 Numerator ($ billions) GAAP shareholder's equity $ 12.4 $ 14.0 $ 15.4 $ 17.1 $ 17.3 $ 17.5 $ 14.6 $ 14.7 $ 14.1 $ 13.8 $ 13.5 $ 14.4 $ 14.5 less: Preferred equity (2.3) ( 2.3) ( 2.3) (2.3) (2.3) (2.3) - - - - - - - GAAP common shareholder's equity $ 10.1 $ 11.7 $ 13.1 $ 14.7 $ 15.0 $ 15.2 $ 14.6 $ 14.7 $ 14.1 $ 13.8 $ 13.5 $ 14.4 $ 14.5 Goodwill and identifiable intangibles, net of DTLs ( 0.9) ( 0.9) (0.9) (0.9) (0.4) ( 0.4) ( 0.4) ( 0.4) (0.4) (0.4) ( 0.4) (0.5) ( 0.3) Tangible common equity 9 .2 10.7 12.2 13.8 14.6 14.8 14.2 14.3 13.7 13.4 13.1 14.0 14.2 Tax-effected Core OID balance (assumes 21% tax rate) ( 0.7) (0.7) (0.7) (0.7) ( 0.7) (0.8) (0.8) (0.8) (0.8) (0.8) (0.8) (0.8) (0.8) Adjusted tangible book value [a] $ 8.5 $ 10.1 $ 11.5 $ 13.1 $ 13.9 $ 14.1 $ 13.4 $ 13.5 $ 12.9 $ 12.6 $ 12.2 $ 13.1 $ 13.3 Denominator Issued shares outstanding (period-end, thousands) [b] 3 00,335 312,781 3 27,306 337,941 3 49,599 362,639 371,805 374,674 373,857 373,837 373,155 374,332 383,523 Metric GAAP common shareholder's equity per share $ 33.7 $ 37.3 $ 40.0 $ 43.6 $ 42.8 $ 41.9 $ 39.3 $ 39.2 $ 37.8 $ 37.0 $ 36.2 $ 38.5 $ 37.7 Goodwill and identifiable intangibles, net of DTLs per share ( 3.0) ( 2.9) (2.8) ( 2.8) (1.1) ( 1.0) ( 1.0) (1.0) (1.0) (1.0) (1.2) (1.2) (0.7) Tangible common equity per share 30.6 34.3 37.1 40.8 41.8 40.9 38.3 38.2 36.7 35.9 35.0 37.3 37.0 Tax-effected Core OID balance (assumes 21% tax rate) per share (2.2) (2.2) ( 2.1) (2.1) (2.0) ( 2.1) (2.2) ( 2.2) (2.2) (2.2) (2.2) (2.2) (2.2) Adjusted tangible book value per share [a] / [b] $ 28.4 $ 32.2 $ 35.0 $ 38.7 $ 39.7 $ 38.8 $ 36.2 $ 36.1 $ 34.6 $ 33.7 $ 32.8 $ 35.1 $ 34.7 Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for: (1) goodwill and identifiable intangibles, net of DTLs, (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered, and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods. Note: In December 2017, tax-effected Core OID balance was adjusted from a statutory U.S. Federal tax rate of 35% to 21% (“rate”) as a result of changes to U.S. tax law. The adjustment conservatively increased the tax-effected Core OID balance and consequently reduced Adjusted TBVPS as any acceleration of the non-cash charge in future periods would flow through the financial statements at a 21% rate versus a previously modeled 35% rate. Calculated Impact to Adjusted TBVPS from CECL Day-1 1Q 20 Numerator ($ billions) Adjusted tangible book value $ 12.2 CECL Day-1 impact to retained earnings, net of tax 1.0 Adjusted tangible book value less CECL Day-1 impact [a] $ 13.3 Denominator Issued shares outstanding (period-end, thousands) [b] 373,155 Metric Adjusted TBVPS $ 32.8 CECL Day-1 impact to retained earnings, net of tax per share 2.7 Adjusted tangible book value, less CECL Day-1 impact per share [a] / [b] $ 35.5 Ally adopted CECL on January 1, 2020. Upon implementation of CECL Ally recognized a reduction to our opening retained earnings balance of approximately $1.0 billion, net of income tax, which reflects a pre-tax increase to the allowance for loan losses of approximately $1.3 billion. This increase is almost exclusively driven by our consumer automotive loan portfolio. 35

3Q 2022 Preliminary Results Supplemental GAAP to Core Results: Core ROTCE Core Return on Tangible Common Equity ( Core ROTCE ) QUARTERLY TREND 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 Numerator ($ millions) GAAP net income / (loss) attributable to common shareholders $ 272 $ 454 $ 627 $ 624 $ 683 $ 900 $ 796 $ 687 $ 476 $ 241 $ (319) $ 378 $ 381 Discontinued operations, net of tax 1 - - 6 - (1) - - - 1 - 3 - Core OID 11 10 10 9 9 9 10 9 9 9 8 8 7 Repositioning Items 20 - - 107 52 70 - - - 50 - - - Change in fair value of equity securities 62 136 66 (21) 65 (19) (17) (111) (13) (90) 185 (29) 11 Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (20) ( 31) (16) (20) ( 26) (13) 1 21 1 17 (41) 4 (4) Significant discrete tax items & other - - - - - ( 78) - - - - - - - Core net income / (loss) attributable to common shareholders [a] $ 346 $ 570 $ 687 $ 705 $ 782 $ 868 $ 790 $ 606 $ 473 $ 228 $ (166) $ 364 $ 396 Denominator (Average, $ billions) GAAP shareholder's equity $ 13.2 $ 14.7 $ 16.2 $ 17.2 $ 17.4 $ 16.1 $ 14.7 $ 14.4 $ 14.0 $ 13.7 $ 14.0 $ 14.4 $ 14.4 less: Preferred equity ( 2.3) (2.3) (2.3) ( 2.3) ( 2.3) ( 1.2) - - - - - - - GAAP common shareholder's equity $ 10.9 $ 12.4 $ 13.9 $ 14.8 $ 15.1 $ 14.9 $ 14.7 $ 14.4 $ 14.0 $ 13.7 $ 14.0 $ 14.4 $ 14.4 Goodwill & identifiable intangibles, net of deferred tax liabilities ( DTLs ) (0.9) ( 0.9) (0.9) ( 0.7) (0.4) (0.4) ( 0.4) (0.4) (0.4) ( 0.4) (0.4) (0.4) ( 0.3) Tangible common equity $ 10.0 $ 11.4 $ 13.0 $ 14.2 $ 14.7 $ 14.5 $ 14.3 $ 14.0 $ 13.6 $ 13.3 $ 13.5 $ 14.1 $ 14.1 Core OID balance (0.9) ( 0.9) (0.9) (0.9) ( 0.9) ( 1.0) ( 1.0) ( 1.0) ( 1.0) (1.1) (1.1) (1.1) (1.1) Net deferred tax asset ( DTA ) ( 1.1) (0.8) ( 0.4) (0.6) ( 0.9) (0.6) (0.1) ( 0.1) ( 0.1) ( 0.2) (0.1) (0.0) (0.1) Normalized common equity [b] $ 8.0 $ 9.8 $ 11.7 $ 12.7 $ 12.9 $ 13.0 $ 13.1 $ 12.9 $ 12.4 $ 12.0 $ 12.3 $ 13.0 $ 12.9 Core Return on Tangible Common Equity [a] / [b] 17.2% 23.2% 23.6% 22.1% 24.2% 26.7% 24.1% 18.7% 15.2% 7.6% -5.4% 11.2% 12.3% Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is based on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share. (1) In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax- effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods. (2) In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA. 36

3Q 2022 Preliminary Results Supplemental GAAP to Core Results: Adjusted Efficiency Ratio Adjusted Efficiency Ratio QUARTERLY TREND 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 Numerator ($ millions) GAAP noninterest expense $ 1,161 $ 1,138 $ 1,122 $ 1,090 $ 1,002 Rep and warrant expense - - - - - Insurance expense (290) (300) (274) (263) (273) Repositioning items (20) - - - - Adjusted noninterest expense for efficiency ratio [a] $ 851 $ 838 $ 848 $ 827 $ 729 Denominator ($ millions) Total net revenue $ 2,016 $ 2,076 $ 2,135 $ 2,199 $ 1,985 Core OID 11 10 10 9 9 Repositioning items - - - 9 52 Insurance revenue (260) (178) (287) (354) (297) Adjusted net revenue for the efficiency ratio [b] $ 1,767 $ 1,908 $ 1,858 $ 1,864 $ 1,749 Adjusted Efficiency Ratio [a] / [b] 48.2% 43.9% 45.6% 44.4% 41.7% Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. (1) In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Rep and warrant expense, Insurance segment expense, and repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods. (2) In the denominator, total net revenue is adjusted for Core OID and Insurance segment revenue. See page 18 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance segment. 37

3Q 2022 Preliminary Results Supplemental Non-GAAP Reconciliation: Core Income ($ millions) 3Q 22 2Q 22 3Q 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 $ 1,719 $ 11 $ - $ - 1,730 $ 1,764 $ 10 $ - $ - 1 ,774 $ 1,594 $ 9 $ - $ - 1,603 Total other revenue 297 - 62 - 359 312 - 136 - 448 391 - 65 52 507 Provision for credit losses 438 - - - 438 304 - - - 304 76 - - - 76 Noninterest expense 1 ,161 - - (20) 1,141 1 ,138 - - - 1,138 1 ,002 - - - 1,002 Pre-tax income $ 417 $ 11 $ 62 $ (20) $ 510 $ 634 $ 10 $ 136 $ - $ 780 $ 907 $ 9 $ 65 $ 52 $ 1,032 Corporate / Other Net financing revenue $ 255 $ 11 $ - $ - $ 266 $ 310 $ 10 $ - $ - $ 320 $ 138 $ 9 $ - $ - $ 147 Total other revenue (74) - (0) - (74) 59 - 0 - 59 12 - 1 (52) (39) Provision for credit losses 95 - - - 95 68 - - - 68 16 - - - 16 Noninterest expense 237 - - (20) 217 211 - - - 211 143 - - - 143 Pre-tax income $ ( 151) $ 11 $ (0) $ (20) $ (120) $ 90 $ 10 $ 0 $ - $ 101 $ (9) $ 9 $ 1 $ (52) $ (51) Insurance Premiums, service revenue earned and other $ 292 $ - $ - $ - $ 292 $ 285 $ - $ - $ - $ 285 $ 282 $ - $ - $ - $ 282 Losses and loss adjustment expenses 70 - - - 70 89 - - - 89 69 - - - 69 Acquisition and underwriting expenses 220 - - - 220 211 - - - 211 204 - - - 204 Investment income and other (32) - 62 - 30 (107) - 136 - 29 15 - 65 - 80 Pre-tax income $ (30) $ - $ 62 $ - $ 32 $ ( 122) $ - $ 136 $ - $ 14 $ 24 $ - $ 65 $ - $ 89 Corporate Finance Net financing revenue $ 80 $ - $ - $ - $ 80 $ 77 $ - $ - $ - $ 77 $ 77 $ - $ - $ - $ 77 Total other revenue 54 - (0) - 54 19 - ( 0) - 19 16 - (1) - 15 Provision for credit losses 13 - - - 13 8 - - - 8 5 - - - 5 Noninterest expense 30 - - - 30 28 - - - 28 27 - - - 27 Pre-tax income $ 91 $ - $ (0) $ - $ 91 $ 60 $ - $ (0) $ - $ 60 $ 61 $ - $ (1) $ - $ 60 (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

3Q 2022 Preliminary Results Supplemental Non-GAAP Reconciliations Net Financing Revenue (ex. Core OID) QUARTERLY TREND ($ millions) 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 GAAP Net Financing Revenue [x] $ 1,719 $ 1,764 $ 1,693 $ 1,654 $ 1,594 $ 1 ,547 $ 1,372 $ 1 ,303 $ 1 ,200 $ 1 ,054 $ 1 ,146 $ 1,156 $ 1,188 Core OID 11 10 10 9 9 9 10 9 9 9 8 8 7 Net Financing Revenue (ex. Core OID) [a] $ 1,730 $ 1,774 $ 1,703 $ 1,663 $ 1,603 $ 1 ,556 $ 1 ,382 $ 1,312 $ 1,209 $ 1,063 $ 1 ,154 $ 1,164 $ 1 ,195 Adjusted Other Revenue QUARTERLY TREND ($ millions) 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 GAAP Other Revenue [y] $ 297 $ 312 $ 442 $ 545 $ 391 $ 538 $ 565 $ 678 $ 484 $ 555 $ 266 $ 487 $ 413 Accelerated OID & repositioning items - - - 9 52 70 - - - - - - - Change in fair value of equity securities 62 136 66 (21) 65 (19) (17) (111) (13) (90) 185 (29) 11 Adjusted Other Revenue [b] $ 359 $ 448 $ 508 $ 533 $ 507 $ 588 $ 548 $ 567 $ 471 $ 465 $ 451 $ 458 $ 424 Adjusted NIE (ex. Repositioning) QUARTERLY TREND ($ millions) 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 GAAP Noninterest Expense [z] $ 1,161 $ 1,138 $ 1,122 $ 1,090 $ 1,002 $ 1,075 $ 943 $ 1 ,023 $ 905 $ 985 $ 920 $ 880 $ 838 Repositioning 20 - - - - - - - - 50 - - - Adjusted NIE (ex. Repositioning) [c] $ 1,141 $ 1,138 $ 1,122 $ 1,090 $ 1,002 $ 1 ,075 $ 943 $ 1 ,023 $ 905 $ 935 $ 920 $ 880 $ 838 Core Pre-Provision Net Revenue QUARTERLY TREND ($ millions) 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 Pre-Provision Net Revenue [x]+[y]-[z] 855 938 1 ,013 1 ,109 983 1,010 994 958 779 624 492 763 763 Core Pre-Provision Net Revenue [a]+[b]-[c] $ 948 $ 1,084 $ 1,088 $ 1,107 $ 1,108 $ 1 ,070 $ 987 $ 856 $ 775 $ 593 $ 686 $ 742 $ 782 Adjusted Total Net Revenue ($ millions) Adjusted Total Net Revenue [a]+[b] $ 2,089 $ 2,222 $ 2,210 $ 2,197 $ 2,110 $ 2,145 $ 1,930 $ 1,879 $ 1 ,680 $ 1 ,528 $ 1,606 $ 1,622 $ 1,620 Original issue discount amortization expense QUARTERLY TREND ($ millions) 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 (1) Core original issue discount (Core OID) amortization expense $ 11 $ 10 $ 10 $ 9 $ 9 $ 9 $ 10 $ 9 $ 9 $ 9 $ 8 $ 8 $ 7 Other OID 3 2 3 3 3 3 3 3 3 4 3 3 3 GAAP original issue discount amortization expense $ 13 $ 13 $ 13 $ 12 $ 12 $ 12 $ 12 $ 13 $ 12 $ 12 $ 11 $ 11 $ 11 Outstanding original issue discount balance QUARTERLY TREND ($ millions) 3Q 22 2Q 22 1Q 22 4Q 21 3Q 21 2Q 21 1Q 21 4Q 20 3Q 20 2Q 20 1Q 20 4Q 19 3Q 19 Core outstanding original issue discount balance (Core OID balance) $ (852) $ (863) $ (873) $ (883) $ (900) $ ( 952) $ (1,018) $ (1,027) $ (1,037) $ (1,046) $ (1,055) $ (1,063) $ (1,071) Other outstanding OID balance (36) (39) (37) (40) (29) (32) (34) (37) (48) (46) (34) (37) (40) GAAP outstanding original issue discount balance $ (888) $ ( 901) $ (911) $ ( 923) $ ( 929) $ ( 983) $ (1,052) $ (1,064) $ (1,084) $ (1,092) $ (1,089) $ (1,100) $ (1,111) 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. (1) See page 29 for definition. 39

Exhibit 99.3

THIRD 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.

3Q 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	 	

3Q 2022  Preliminary Results	  	3	

 
			
ALLY FINANCIAL INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS

																														
($ in millions, shares in thousands)	 	QUARTERLY TRENDS	 	 	CHANGE VS.	 		
	Selected Income Statement Data	 	    3Q 22    	 	 	    2Q 22    	 	 	    1Q 22    	 	 	    4Q 21    	 	 	    3Q 21    	 	 	    2Q 22    	 	 	    3Q 21    	 	
									
Net financing revenue (excluding Core OID) (1)	 	 $	1,730	 	 	 $	1,774	 	 	 $	1,703	 	 	 $	1,663	 	 	 $	1,603	 	 	 $	(45	) 	 	 $	126	 		
									
Core OID	 	 	(11	) 	 	 	(10	) 	 	 	(10	) 	 	 	(9	) 	 	 	(9	) 	 	 	—	 	 	 	(1	) 		
									
Net financing revenue (as reported)	 	 	1,719	 	 	 	1,764	 	 	 	1,693	 	 	 	1,654	 	 	 	1,594	 	 	 	(45	) 	 	 	125	 		
									
Other revenue (adjusted) (1)	 	 	359	 	 	 	448	 	 	 	508	 	 	 	533	 	 	 	507	 	 	 	(89	) 	 	 	(148	) 		
									
Change in fair value of equity securities (2)	 	 	(62	) 	 	 	(136	) 	 	 	(66	) 	 	 	21	 	 	 	(65	) 	 	 	74	 	 	 	2	 		
									
Repositioning (2)	 	 	—	 	 	 	—	 	 	 	—	 	 	 	(9	) 	 	 	(52	) 	 	 	—	 	 	 	52	 		
									
Other revenue (as reported)	 	 	297	 	 	 	312	 	 	 	442	 	 	 	545	 	 	 	391	 	 	 	(15	) 	 	 	(94	) 		
									
Provision for loan losses	 	 	438	 	 	 	304	 	 	 	167	 	 	 	210	 	 	 	76	 	 	 	134	 	 	 	362	 		
									
Noninterest Expense (ex. Repositioning)	 	 	1,141	 	 	 	1,138	 	 	 	1,122	 	 	 	1,090	 	 	 	1,002	 	 	 	3	 	 	 	139	 		
									
Repositioning	 	 	20	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	20	 	 	 	20	 		
									
Total noninterest expense (3)	 	 	1,161	 	 	 	1,138	 	 	 	1,122	 	 	 	1,090	 	 	 	1,002	 	 	 	23	 	 	 	159	 		

Pre-tax income from continuing operations	 	 	417	 	 	 	634	 	 	 	846	 	 	 	899	 	 	 	907	 	 	 	(217	) 	 	 	(490	) 		
									
Income tax expense	 	 	117	 	 	 	152	 	 	 	191	 	 	 	241	 	 	 	195	 	 	 	(35	) 	 	 	(78	) 		
									
(Loss) income from discontinued operations, net of tax	 	 	(1	) 	 	 	—	 	 	 	—	 	 	 	(6	) 	 	 	—	 	 	 	(1	) 	 	 	(1	) 		

Net Income	 	 	299	 	 	 	482	 	 	 	655	 	 	 	652	 	 	 	712	 	 	 	(183	) 	 	 	(413	) 		
									
Preferred Dividends	 	 	27	 	 	 	28	 	 	 	28	 	 	 	28	 	 	 	29	 	 	 	(1	) 	 	 	(2	) 		

Net income attributable to common shareholders	 	 $	272	 	 	 $	454	 	 	 $	627	 	 	 $	624	 	 	 $	683	 	 	 $	(182	) 	 	 $	(411	) 		

Core Pre-Provision Net Revenue (4)	 	 $	948	 	 	 $	1,084	 	 	 $	1,088	 	 	 $	1,107	 	 	 $	1,108	 	 	 $	(137	) 	 	 $	(161	) 		
									
Selected Balance Sheet Data (Period-End)	 				 				 				 				 				 				 					
									
Total assets	 	 $	    188,640	 	 	 $	    185,703	 	 	 $	    184,297	 	 	 $	    182,350	 	 	 $	    179,184	 	 	 $	    2,937	 	 	 $	    9,456	 		
									
Consumer loans	 	 	106,720	 	 	 	103,683	 	 	 	99,869	 	 	 	98,226	 	 	 	95,052	 	 	 	3,037	 	 	 	11,668	 		
									
Commercial loans	 	 	25,736	 	 	 	24,774	 	 	 	25,496	 	 	 	24,042	 	 	 	19,419	 	 	 	962	 	 	 	6,317	 		
									
Allowance for loan losses	 	 	(3,611	) 	 	 	(3,450	) 	 	 	(3,301	) 	 	 	(3,267	) 	 	 	(3,148	) 	 	 	(161	) 	 	 	(463	) 		
									
Deposits	 	 	145,751	 	 	 	140,401	 	 	 	142,475	 	 	 	141,558	 	 	 	139,444	 	 	 	5,350	 	 	 	6,307	 		
									
Total equity	 	 	12,434	 	 	 	13,984	 	 	 	15,413	 	 	 	17,050	 	 	 	17,289	 	 	 	(1,550	) 	 	 	(4,855	) 		
									
Common Share Count	 				 				 				 				 				 				 					
									
Weighted average basic	 	 	308,220	 	 	 	322,057	 	 	 	335,678	 	 	 	345,870	 	 	 	359,179	 	 	 	(13,837	) 	 	 	(50,960	) 		
									
Weighted average diluted	 	 	310,086	 	 	 	324,027	 	 	 	337,812	 	 	 	348,666	 	 	 	361,855	 	 	 	(13,941	) 	 	 	(51,769	) 		
									
Issued shares outstanding (period-end)	 	 	300,335	 	 	 	312,781	 	 	 	327,306	 	 	 	337,941	 	 	 	349,599	 	 	 	(12,446	) 	 	 	(49,264	) 		
									
Per Common Share Data	 				 				 				 				 				 				 					
									
Earnings per share (basic)	 	 $	0.88	 	 	 $	1.41	 	 	 $	1.87	 	 	 $	1.80	 	 	 $	1.90	 	 	 $	(0.53	) 	 	 $	(1.02	) 		
									
Earnings per share (diluted)	 	 	0.88	 	 	 	1.40	 	 	 	1.86	 	 	 	1.79	 	 	 	1.89	 	 	 	(0.52	) 	 	 	(1.01	) 		
									
Adjusted earnings per share (1)	 	 	1.12	 	 	 	1.76	 	 	 	2.03	 	 	 	2.02	 	 	 	2.16	 	 	 	(0.64	) 	 	 	(1.04	) 		
									
Book value per share	 	 	33.66	 	 	 	37.28	 	 	 	39.99	 	 	 	43.58	 	 	 	42.81	 	 	 	(3.62	) 	 	 	(9.14	) 		
									
Tangible book value per share (5)	 	 	30.63	 	 	 	34.34	 	 	 	37.14	 	 	 	40.79	 	 	 	41.75	 	 	 	(3.70	) 	 	 	(11.12	) 		
									
Adjusted tangible book value per share (5)	 	 	28.39	 	 	 	32.16	 	 	 	35.04	 	 	 	38.73	 	 	 	39.72	 	 	 	(3.76	) 	 	 	(11.32	) 		
									
Select Financial Ratios	 				 				 				 				 				 				 					
									
Net interest margin (as reported)	 	 	3.81	% 	 	 	4.04	% 	 	 	3.93	% 	 	 	3.80	% 	 	 	3.66	% 	 				 					
									
Net interest margin (ex. Core OID) (1)	 	 	3.83	% 	 	 	4.06	% 	 	 	3.95	% 	 	 	3.82	% 	 	 	3.68	% 	 				 					
									
Cost of funds	 	 	1.93	% 	 	 	1.16	% 	 	 	1.03	% 	 	 	1.06	% 	 	 	1.14	% 	 				 					
									
Cost of funds (ex. Core OID) (1)	 	 	1.89	% 	 	 	1.12	% 	 	 	0.99	% 	 	 	1.03	% 	 	 	1.11	% 	 				 					
									
Efficiency Ratio (6)	 	 	57.6	% 	 	 	54.8	% 	 	 	52.6	% 	 	 	49.6	% 	 	 	50.5	% 	 				 					
									
Adjusted efficiency ratio (6)	 	 	48.2	% 	 	 	43.9	% 	 	 	45.6	% 	 	 	44.4	% 	 	 	41.7	% 	 				 					
									
Return on average assets	 	 	0.6	% 	 	 	1.0	% 	 	 	1.4	% 	 	 	1.4	% 	 	 	1.5	% 	 				 					
									
Return on average total equity	 	 	8.2	% 	 	 	12.4	% 	 	 	15.5	% 	 	 	14.5	% 	 	 	15.7	% 	 				 					
									
Return on average tangible common equity	 	 	10.9	% 	 	 	15.9	% 	 	 	19.3	% 	 	 	17.6	% 	 	 	18.6	% 	 				 					
									
Core ROTCE (7)	 	 	17.2	% 	 	 	23.2	% 	 	 	23.6	% 	 	 	22.1	% 	 	 	24.2	% 	 				 					
									
Capital Ratios (8)	 				 				 				 				 				 				 					
									
Common Equity Tier 1 (CET1) capital ratio	 	 	9.3	% 	 	 	9.6	% 	 	 	10.0	% 	 	 	10.3	% 	 	 	11.2	% 	 				 					
									
Tier 1 capital ratio	 	 	10.8	% 	 	 	11.1	% 	 	 	11.5	% 	 	 	11.9	% 	 	 	12.8	% 	 				 					
									
Total capital ratio	 	 	12.4	% 	 	 	12.7	% 	 	 	13.1	% 	 	 	13.5	% 	 	 	14.6	% 	 				 					
									
Tier 1 leverage ratio	 	 	8.8	% 	 	 	9.1	% 	 	 	9.4	% 	 	 	9.7	% 	 	 	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.	

3Q 2022  Preliminary Results	  	4	

 
			
ALLY FINANCIAL INC.
CONSOLIDATED INCOME STATEMENT

																													
 	 	QUARTERLY TRENDS	 	 	CHANGE VS.	 	
($ in millions)	 	    3Q 22    	 	 	    2Q 22    	 	 	    1Q 22    	 	 	    4Q 21    	 	 	    3Q 21    	 	 	    2Q 22    	 	 	    3Q 21    	 	
								
Financing revenue and other interest income	 				 				 				 				 				 				 				
								
Interest and fees on finance receivables and loans	 	 $	2,120	 	 	 $	1,842	 	 	 $	1,714	 	 	 $	1,679	 	 	 $	1,619	 	 	 $	278	 	 	 $	501	 	
								
Interest on loans held-for-sale	 	 	10	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	5	 	 	 	6	 	 	 	5	 	
								
Total interest and dividends on investment securities	 	 	206	 	 	 	195	 	 	 	183	 	 	 	162	 	 	 	150	 	 	 	11	 	 	 	56	 	
								
Interest-bearing cash	 	 	16	 	 	 	5	 	 	 	2	 	 	 	2	 	 	 	5	 	 	 	11	 	 	 	11	 	
								
Other earning assets	 	 	12	 	 	 	8	 	 	 	5	 	 	 	5	 	 	 	5	 	 	 	4	 	 	 	7	 	
								
Operating leases	 	 	397	 	 	 	396	 	 	 	403	 	 	 	403	 	 	 	393	 	 	 	1	 	 	 	4	 	

Total financing revenue and other interest income	 	 	2,761	 	 	 	2,450	 	 	 	2,311	 	 	 	2,255	 	 	 	2,177	 	 	 	311	 	 	 	584	 	
								
Interest expense	 				 				 				 				 				 				 				
								
Interest on deposits	 	 	567	 	 	 	263	 	 	 	211	 	 	 	226	 	 	 	245	 	 	 	304	 	 	 	322	 	
								
Interest on short-term borrowings	 	 	43	 	 	 	19	 	 	 	5	 	 	 	—	 	 	 	—	 	 	 	24	 	 	 	43	 	
								
Interest on long-term debt	 	 	194	 	 	 	184	 	 	 	185	 	 	 	189	 	 	 	191	 	 	 	10	 	 	 	3	 	
								
Interest on other	 	 	—	 	 	 	1	 	 	 	—	 	 	 	—	 	 	 	8	 	 	 	(1	) 	 	 	(8	) 	

Total interest expense	 	 	804	 	 	 	467	 	 	 	401	 	 	 	415	 	 	 	444	 	 	 	337	 	 	 	360	 	
								
Depreciation expense on operating lease assets	 	 	238	 	 	 	219	 	 	 	217	 	 	 	186	 	 	 	139	 	 	 	19	 	 	 	99	 	

Net financing revenue (as reported)	 	 $	1,719	 	 	 $	1,764	 	 	 $	1,693	 	 	 $	1,654	 	 	 $	1,594	 	 	 $	(45	) 	 	 $	125	 	
								
Other revenue	 				 				 				 				 				 				 				
								
Insurance premiums and service revenue earned	 	 	289	 	 	 	280	 	 	 	280	 	 	 	280	 	 	 	279	 	 	 	9	 	 	 	10	 	
								
Gain on mortgage and automotive loans, net	 	 	10	 	 	 	4	 	 	 	14	 	 	 	14	 	 	 	18	 	 	 	6	 	 	 	(8	) 	
								
Loss on extinguishment of debt	 	 	0	 	 	 	0	 	 	 	—	 	 	 	(10	) 	 	 	(52	) 	 	 	0	 	 	 	52	 	
								
Other (loss) / gain on investments, net	 	 	(54	) 	 	 	(124	) 	 	 	5	 	 	 	73	 	 	 	24	 	 	 	70	 	 	 	(78	) 	
								
Other income, net of losses	 	 	52	 	 	 	152	 	 	 	143	 	 	 	188	 	 	 	122	 	 	 	(100	) 	 	 	(70	) 	

Total other revenue	 	 	297	 	 	 	312	 	 	 	442	 	 	 	545	 	 	 	391	 	 	 	(15	) 	 	 	(94	) 	
								
Total net revenue	 	 	2,016	 	 	 	2,076	 	 	 	2,135	 	 	 	2,199	 	 	 	1,985	 	 	 	(60	) 	 	 	31	 	
								
Provision for loan losses	 	 	438	 	 	 	304	 	 	 	167	 	 	 	210	 	 	 	76	 	 	 	134	 	 	 	362	 	
								
Noninterest expense	 				 				 				 				 				 				 				
								
Compensation and benefits expense	 	 	467	 	 	 	437	 	 	 	493	 	 	 	413	 	 	 	389	 	 	 	30	 	 	 	78	 	
								
Insurance losses and loss adjustment expenses	 	 	70	 	 	 	89	 	 	 	58	 	 	 	55	 	 	 	69	 	 	 	(19	) 	 	 	1	 	
								
Other operating expenses	 	 	624	 	 	 	612	 	 	 	571	 	 	 	622	 	 	 	544	 	 	 	12	 	 	 	80	 	

Total noninterest expense	 	 	1,161	 	 	 	1,138	 	 	 	1,122	 	 	 	1,090	 	 	 	1,002	 	 	 	23	 	 	 	159	 	
								
Pre-tax income from continuing operations	 	 $	417	 	 	 $	634	 	 	 $	846	 	 	 $	899	 	 	 $	907	 	 	 $	(217	) 	 	 $	(490	) 	
								
Income tax expense from continuing operations	 	 	117	 	 	 	152	 	 	 	191	 	 	 	241	 	 	 	195	 	 	 	(35	) 	 	 	(78	) 	

Net income from continuing operations	 	 	300	 	 	 	482	 	 	 	655	 	 	 	658	 	 	 	712	 	 	 	(182	) 	 	 	(412	) 	
								
(Loss) from discontinued operations, net of tax	 	 	(1	) 	 	 	—	 	 	 	—	 	 	 	(6	) 	 	 	—	 	 	 	(1	) 	 	 	(1	) 	

Net income	 	 	299	 	 	 	482	 	 	 	655	 	 	 	652	 	 	 	712	 	 	 	(183	) 	 	 	(413	) 	
								
Preferred Dividends	 	 	27	 	 	 	28	 	 	 	28	 	 	 	28	 	 	 	29	 	 	 	(1	) 	 	 	(2	) 	

Net Income Available to Common Shareholders	 	 $	272	 	 	 $	454	 	 	 $	627	 	 	 $	624	 	 	 $	683	 	 	 $	(182	) 	 	 $	(411	) 	

Core Pre-Tax Income Walk	 				 				 				 				 				 				 				
								
Net financing revenue (ex. OID) (1)	 	$	1,730	 	 	$	1,774	 	 	$	1,703	 	 	$	1,663	 	 	$	1,603	 	 	$	(45	) 	 	$	126	 	
								
Adjusted other revenue (1)	 	 	359	 	 	 	448	 	 	 	508	 	 	 	533	 	 	 	507	 	 	 	(89	) 	 	 	(148	) 	
								
Provision for credit losses	 	 	438	 	 	 	304	 	 	 	167	 	 	 	113	 	 	 	76	 	 	 	134	 	 	 	362	 	
								
Adjusted noninterest expense (1)	 	 	1,141	 	 	 	1,138	 	 	 	1,122	 	 	 	1,090	 	 	 	1,002	 	 	 	3	 	 	 	139	 	

Core pre-tax income (2)	 	 $	510	 	 	 $	780	 	 	 $	921	 	 	 $	994	 	 	 $	1,032	 	 	 $	(271	) 	 	 $	(523	) 	
								
Core OID	 	 	(11	) 	 	 	(10	) 	 	 	(10	) 	 	 	(9	) 	 	 	(9	) 	 	 	0	 	 	 	(1	) 	
								
Change in the fair value of equity securities (3)	 	 	(62	) 	 	 	(136	) 	 	 	(66	) 	 	 	21	 	 	 	(65	) 	 	 	74	 	 	 	2	 	
								
Repositioning (3)	 	 	(20	) 	 	 	—	 	 	 	—	 	 	 	(107	) 	 	 	(52	) 	 	 	(20	) 	 	 	31	 	

Pre-tax income from continuing operations	 	 $	417	 	 	 $	634	 	 	 $	846	 	 	 $	899	 	 	 $	907	 	 	 $	(217	) 	 	 $	(490	) 	

(1)	Represents a non-GAAP financial measure. For more details refer to page 21.	
(2)	Represents a non-GAAP financial measure. See page 25 for methodology and detail.	
(3)	See page 25 for methodology and detail.	

3Q 2022  Preliminary Results	  	5	

 
			
ALLY FINANCIAL INC.
CONSOLIDATED PERIOD-END BALANCE SHEET

																													
($ in millions)	 	QUARTERLY TRENDS	 	CHANGE VS.	
Assets	 	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
								
Cash and cash equivalents	 				 				 				 				 				 				 				
								
Noninterest-bearing	 	 $	638	 	 	 $	801	 	 	 $	470	 	 	 $	502	 	 	 $	636	 	 	 $	(163	) 	 	 $	2	 	
								
Interest-bearing	 	 	4,366	 	 	 	3,366	 	 	 	3,462	 	 	 	4,560	 	 	 	10,279	 	 	 	1,000	 	 	 	(5,913	) 	

Total cash and cash equivalents	 	 	5,004	 	 	 	4,167	 	 	 	3,932	 	 	 	5,062	 	 	 	10,915	 	 	 	837	 	 	 	(5,911	) 	
								
Investment securities (1)	 	 	31,344	 	 	 	33,590	 	 	 	35,413	 	 	 	35,859	 	 	 	35,317	 	 	 	(2,246	) 	 	 	(3,973	) 	
								
Loans held-for-sale, net	 	 	808	 	 	 	798	 	 	 	471	 	 	 	549	 	 	 	456	 	 	 	10	 	 	 	352	 	
								
Finance receivables and loans, net	 	 	132,456	 	 	 	128,457	 	 	 	125,365	 	 	 	122,268	 	 	 	114,471	 	 	 	3,999	 	 	 	17,985	 	
								
Allowance for loan losses	 	 	(3,611	) 	 	 	(3,450	) 	 	 	(3,301	) 	 	 	(3,267	) 	 	 	(3,148	) 	 	 	(161	) 	 	 	(463	) 	

Total finance receivables and loans, net	 	 	128,845	 	 	 	125,007	 	 	 	122,064	 	 	 	119,001	 	 	 	111,323	 	 	 	3,838	 	 	 	17,522	 	
								
Investment in operating leases, net	 	 	10,577	 	 	 	10,516	 	 	 	10,730	 	 	 	10,862	 	 	 	10,969	 	 	 	61	 	 	 	(392	) 	
								
Premiums receivables and other insurance assets	 	 	2,719	 	 	 	2,743	 	 	 	2,730	 	 	 	2,724	 	 	 	2,752	 	 	 	(24	) 	 	 	(33	) 	
								
Other assets	 	 	9,343	 	 	 	8,882	 	 	 	8,957	 	 	 	8,293	 	 	 	7,452	 	 	 	461	 	 	 	1,891	 	

Total assets	 	 $	    188,640	 	 	 $	    185,703	 	 	 $	    184,297	 	 	 $	    182,350	 	 	 $	    179,184	 	 	 $	    2,937	 	 	 $	    9,456	 	

Liabilities	 				 				 				 				 				 				 				
								
Deposit liabilities	 				 				 				 				 				 				 				
								
Noninterest-bearing	 	 $	220	 	 	 $	185	 	 	 $	175	 	 	 $	150	 	 	 $	167	 	 	 $	35	 	 	 $	53	 	
								
Interest-bearing	 	 	145,531	 	 	 	140,216	 	 	 	142,300	 	 	 	141,408	 	 	 	139,277	 	 	 	5,315	 	 	 	6,254	 	

Total deposit liabilities	 	 	145,751	 	 	 	140,401	 	 	 	142,475	 	 	 	141,558	 	 	 	139,444	 	 	 	5,350	 	 	 	6,307	 	
								
Short-term borrowings	 	 	7,200	 	 	 	7,775	 	 	 	3,950	 	 	 	—	 	 	 	—	 	 	 	(575	) 	 	 	7,200	 	
								
Long-term debt	 	 	16,628	 	 	 	16,984	 	 	 	15,885	 	 	 	17,029	 	 	 	14,946	 	 	 	(356	) 	 	 	1,682	 	
								
Interest payable	 	 	484	 	 	 	270	 	 	 	302	 	 	 	210	 	 	 	422	 	 	 	214	 	 	 	62	 	
								
Unearned insurance premiums and service revenue	 	 	3,468	 	 	 	3,490	 	 	 	3,500	 	 	 	3,514	 	 	 	3,537	 	 	 	(22	) 	 	 	(69	) 	
								
Accrued expense and other liabilities	 	 	2,675	 	 	 	2,799	 	 	 	2,772	 	 	 	2,989	 	 	 	3,546	 	 	 	(124	) 	 	 	(871	) 	

Total liabilities	 	 $	176,206	 	 	 $	171,719	 	 	 $	168,884	 	 	 $	165,300	 	 	 $	161,895	 	 	 $	4,487	 	 	 $	14,311	 	
								
Equity	 				 				 				 				 				 				 				
								
Common stock and paid-in capital (2)	 	 $	14,994	 	 	 $	15,390	 	 	 $	15,956	 	 	 $	16,483	 	 	 $	17,050	 	 	 $	(396	) 	 	 $	(2,056	) 	
								
Preferred stock	 	 	2,324	 	 	 	2,324	 	 	 	2,324	 	 	 	2,324	 	 	 	2,324	 	 	 	—	 	 	 	—	 	
								
Accumulated deficit	 	 	(544	) 	 	 	(721	) 	 	 	(1,076	) 	 	 	(1,599	) 	 	 	(2,136	) 	 	 	177	 	 	 	1,592	 	
								
Accumulated other comprehensive income / (loss)	 	 	(4,340	) 	 	 	(3,009	) 	 	 	(1,791	) 	 	 	(158	) 	 	 	51	 	 	 	(1,331	) 	 	 	(4,391	) 	

Total equity	 	 	12,434	 	 	 	13,984	 	 	 	15,413	 	 	 	17,050	 	 	 	17,289	 	 	 	(1,550	) 	 	 	(4,855	) 	

Total liabilities and equity	 	 $	188,640	 	 	 $	185,703	 	 	 $	184,297	 	 	 $	182,350	 	 	 $	179,184	 	 	 $	2,937	 	 	 $	9,456	 	

 

(1)	Includes Held-to-maturity securities.	
(2)	Includes Treasury stock.	

3Q 2022  Preliminary Results	  	6	

 
			
ALLY FINANCIAL INC.
CONSOLIDATED AVERAGE BALANCE SHEET (1)

																													
($ in millions)	 	QUARTERLY TRENDS	 	CHANGE VS.	
Assets	 	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
								
Interest-bearing cash and cash equivalents	 	 $	3,627	 	 	 $	3,761	 	 	 $	4,027	 	 	 $	6,532	 	 	 $	13,055	 	 	 $	(134	) 	 	 $	(9,428	) 	
								
Investment securities and other earning assets	 	 	34,166	 	 	 	34,679	 	 	 	36,664	 	 	 	36,809	 	 	 	35,193	 	 	 	(513	) 	 	 	(1,027	) 	
								
Loans held-for-sale, net	 	 	748	 	 	 	420	 	 	 	570	 	 	 	461	 	 	 	464	 	 	 	328	 	 	 	284	 	
								
Total finance receivables and loans, net (2)	 	 	129,996	 	 	 	125,628	 	 	 	122,772	 	 	 	118,135	 	 	 	112,907	 	 	 	4,368	 	 	 	17,089	 	
								
Investment in operating leases, net	 	 	10,588	 	 	 	10,615	 	 	 	10,878	 	 	 	10,951	 	 	 	10,919	 	 	 	(27	) 	 	 	(331	) 	

Total interest earning assets	 	 	179,125	 	 	 	175,103	 	 	 	174,911	 	 	 	172,888	 	 	 	172,538	 	 	 	4,022	 	 	 	6,587	 	
								
Noninterest-bearing cash and cash equivalents	 	 	503	 	 	 	343	 	 	 	422	 	 	 	505	 	 	 	526	 	 	 	160	 	 	 	(23	) 	
								
Other assets	 	 	10,338	 	 	 	10,510	 	 	 	9,825	 	 	 	9,568	 	 	 	9,328	 	 	 	(172	) 	 	 	1,010	 	
								
Allowance for loan losses	 	 	(3,494	) 	 	 	(3,339	) 	 	 	(3,279	) 	 	 	(3,168	) 	 	 	(3,152	) 	 	 	(155	) 	 	 	(342	) 	

Total assets	 	 $	    186,472	 	 	 $	    182,617	 	 	 $	    181,879	 	 	 $	    179,793	 	 	 $	    179,240	 	 	 $	    3,855	 	 	 $	    7,232	 	

Liabilities	 				 				 				 				 				 				 				
								
Interest-bearing deposit liabilities	 				 				 				 				 				 				 				
								
Retail deposit liabilities	 	 $	131,868	 	 	 $	132,111	 	 	 $	135,046	 	 	 $	132,706	 	 	 $	130,414	 	 	 $	(243	) 	 	 $	1,454	 	
								
Other interest-bearing deposit liabilities (3)	 	 	10,717	 	 	 	7,522	 	 	 	6,340	 	 	 	7,172	 	 	 	8,670	 	 	 	3,195	 	 	 	2,047	 	

Total Interest-bearing deposit liabilities	 	 	142,586	 	 	 	139,633	 	 	 	141,387	 	 	 	139,878	 	 	 	139,084	 	 	 	2,953	 	 	 	3,502	 	
								
Short-term borrowings	 	 	6,266	 	 	 	5,695	 	 	 	980	 	 	 	—	 	 	 	—	 	 	 	571	 	 	 	6,266	 	
								
Long-term debt (4)	 	 	16,798	 	 	 	16,231	 	 	 	16,410	 	 	 	15,493	 	 	 	15,487	 	 	 	567	 	 	 	1,311	 	

Total interest-bearing liabilities (4)	 	 	165,650	 	 	 	161,559	 	 	 	158,777	 	 	 	155,371	 	 	 	154,571	 	 	 	4,091	 	 	 	11,079	 	
								
Noninterest-bearing deposit liabilities	 	 	207	 	 	 	181	 	 	 	171	 	 	 	165	 	 	 	160	 	 	 	26	 	 	 	47	 	
								
Other liabilities	 	 	6,435	 	 	 	6,408	 	 	 	6,772	 	 	 	6,731	 	 	 	6,852	 	 	 	27	 	 	 	(417	) 	

Total liabilities	 	 $	172,292	 	 	 $	168,148	 	 	 $	165,720	 	 	 $	162,267	 	 	 $	161,583	 	 	 $	4,144	 	 	 $	10,709	 	
								
Equity	 				 				 				 				 				 				 				
								
Total equity	 	 $	14,180	 	 	 $	14,469	 	 	 $	16,159	 	 	 $	17,526	 	 	 $	17,657	 	 	 $	(289	) 	 	 $	(3,477	) 	

Total liabilities and equity	 	 $	186,472	 	 	 $	182,617	 	 	 $	181,879	 	 	 $	179,793	 	 	 $	179,240	 	 	 $	3,855	 	 	 $	7,232	 	

 

(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 $858 million in 3Q 2022, $868 million in 2Q 2022, $878 million in 1Q 2022, $889 million in 4Q 2021, and $905 million in Q3 2021	

3Q 2022  Preliminary Results	  	7	

 
			
ALLY FINANCIAL INC.
SEGMENT HIGHLIGHTS

																													
($ in millions)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	QUARTERLY TRENDS	 	CHANGE VS.	
								
Pre-tax Income / (Loss)	 	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
								
Automotive Finance	 	  $	488	 	 	  $	600	 	 	  $	725	 	 	  $	839	 	 	  $	825	 	 	  $	(112	) 	 	  $	(337	) 	
								
Insurance	 	 	(30	) 	 	 	(122	) 	 	 	13	 	 	 	91	 	 	 	24	 	 	 	92	 	 	 	(54	) 	

Dealer Financial Services	 	 	458	 	 	 	478	 	 	 	738	 	 	 	930	 	 	 	849	 	 	 	(20	) 	 	 	(391	) 	
								
Corporate Finance	 	 	91	 	 	 	60	 	 	 	64	 	 	 	73	 	 	 	61	 	 	 	31	 	 	 	30	 	
								
Mortgage Finance	 	 	19	 	 	 	6	 	 	 	11	 	 	 	3	 	 	 	6	 	 	 	13	 	 	 	13	 	
								
Corporate and Other (1)	 	 	(151	) 	 	 	90	 	 	 	33	 	 	 	(107	) 	 	 	(9	) 	 	 	(241	) 	 	 	(142	) 	

Pre-tax income from continuing operations	 	  $	417	 	 	  $	634	 	 	  $	846	 	 	  $	899	 	 	  $	907	 	 	  $	(217	) 	 	  $	(490	) 	
								
Core OID (2)	 	 	11	 	 	 	10	 	 	 	10	 	 	 	9	 	 	 	9	 	 	 	0	 	 	 	1	 	
								
Change in the fair value of equity securities (3)	 	 	62	 	 	 	136	 	 	 	66	 	 	 	(21	) 	 	 	65	 	 	 	(74	) 	 	 	(2	) 	
								
Repositioning (4)	 	 	20	 	 	 	—	 	 	 	—	 	 	 	107	 	 	 	52	 	 	 	20	 	 	 	(31	) 	

Core pre-tax income (4)	 	  $	510	 	 	  $	780	 	 	  $	921	 	 	  $	994	 	 	  $	1,032	 	 	  $	(271)	 	 	  $	(523	) 	

 

(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.	

3Q 2022  Preliminary Results	  	8	

 
			
ALLY FINANCIAL INC.
AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

																													
($ in millions)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	QUARTERLY TRENDS	 	CHANGE VS.	
	Income Statement	 	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
								
Net financing revenue	 				 				 				 				 				 				 				
								
Consumer	 	 $	1,461	 	 	 $	1,362	 	 	 $	1,302	 	 	 $	1,339	 	 	 $	1,320	 	 	 $	99	 	 	 $	141	 	
								
Commercial	 	 	189	 	 	 	142	 	 	 	129	 	 	 	116	 	 	 	112	 	 	 	47	 	 	 	77	 	
								
Operating leases	 	 	397	 	 	 	396	 	 	 	403	 	 	 	403	 	 	 	393	 	 	 	1	 	 	 	4	 	

Total financing revenue and other interest income	 	 	2,047	 	 	 	1,900	 	 	 	1,834	 	 	 	1,858	 	 	 	1,825	 	 	 	147	 	 	 	222	 	
								
Interest expense	 	 	506	 	 	 	380	 	 	 	322	 	 	 	331	 	 	 	357	 	 	 	126	 	 	 	149	 	
								
Depreciation expense on operating lease assets:	 				 				 				 				 				 				 				
								
Depreciation expense on operating lease assets (ex. remarketing)	 	 	278	 	 	 	269	 	 	 	266	 	 	 	251	 	 	 	226	 	 	 	8	 	 	 	51	 	
								
Remarketing gains	 	 	39	 	 	 	50	 	 	 	50	 	 	 	65	 	 	 	86	 	 	 	(10	) 	 	 	(47	) 	

Total depreciation expense on operating lease assets	 	 	238	 	 	 	219	 	 	 	217	 	 	 	186	 	 	 	139	 	 	 	19	 	 	 	99	 	

Net financing revenue	 	 	1,303	 	 	 	1,301	 	 	 	1,295	 	 	 	1,341	 	 	 	1,329	 	 	 	2	 	 	 	(26	) 	
								
Other revenue	 				 				 				 				 				 				 				

Total other revenue	 	 	74	 	 	 	72	 	 	 	68	 	 	 	67	 	 	 	61	 	 	 	2	 	 	 	13	 	

Total net revenue	 	 	1,377	 	 	 	1,373	 	 	 	1,363	 	 	 	1,408	 	 	 	1,390	 	 	 	4	 	 	 	(13	) 	
								
Provision for credit losses	 	 	328	 	 	 	228	 	 	 	104	 	 	 	45	 	 	 	53	 	 	 	100	 	 	 	275	 	
								
Noninterest expense	 				 				 				 				 				 				 				
								
Compensation and benefits	 	 	155	 	 	 	152	 	 	 	168	 	 	 	146	 	 	 	136	 	 	 	3	 	 	 	19	 	
								
Other operating expenses	 	 	406	 	 	 	393	 	 	 	366	 	 	 	378	 	 	 	376	 	 	 	13	 	 	 	30	 	

Total noninterest expense	 	 	561	 	 	 	545	 	 	 	534	 	 	 	524	 	 	 	512	 	 	 	16	 	 	 	49	 	

Pre-tax Income	 	 $	488	 	 	 $	600	 	 	 $	725	 	 	 $	839	 	 	 $	825	 	 	 $	(112	) 	 	 $	(337	) 	

Memo: Net lease revenue	 				 				 				 				 				 				 				
								
Operating lease revenue	 	 $	397	 	 	 $	396	 	 	 $	403	 	 	 $	403	 	 	 $	393	 	 	 $	1	 	 	 $	4	 	
								
Depreciation expense on operating lease assets (ex. remarketing)	 	 	278	 	 	 	269	 	 	 	266	 	 	 	251	 	 	 	226	 	 	 	8	 	 	 	51	 	
								
Remarketing gains, net of repo valuation	 	 	39	 	 	 	50	 	 	 	50	 	 	 	65	 	 	 	86	 	 	 	(10	) 	 	 	(47	) 	

Total depreciation expense on operating lease assets	 	 	238	 	 	 	219	 	 	 	217	 	 	 	186	 	 	 	139	 	 	 	19	 	 	 	99	 	

Net lease revenue	 	$	159	 	 	$	177	 	 	$	186	 	 	$	217	 	 	$	254	 	 	$	(18	) 	 	$	(95	) 	

Balance Sheet (Period-End)	 				 				 				 				 				 				 				
								
Cash, trading and investment securities	 	 $	—	 	 	 $	23	 	 	 $	24	 	 	 $	23	 	 	 $	23	 	 	 $	(23	) 	 	 $	(23	) 	
								
Loans held-for-sale, net	 	 	6	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	6	 	 	 	6	 	
								
Consumer loans	 	 	84,116	 	 	 	82,191	 	 	 	79,262	 	 	 	78,289	 	 	 	77,683	 	 	 	1,925	 	 	 	6,433	 	
								
Commercial loans	 	 	16,163	 	 	 	16,109	 	 	 	17,295	 	 	 	16,074	 	 	 	12,587	 	 	 	54	 	 	 	3,576	 	
								
Allowance for loan losses	 	 	(3,024	) 	 	 	(2,914	) 	 	 	(2,794	) 	 	 	(2,802	) 	 	 	(2,851	) 	 	 	(110	) 	 	 	(173	) 	

Total finance receivables and loans, net	 	 	97,255	 	 	 	95,386	 	 	 	93,763	 	 	 	91,561	 	 	 	87,419	 	 	 	1,869	 	 	 	9,836	 	
								
Investment in operating leases, net	 	 	10,577	 	 	 	10,516	 	 	 	10,730	 	 	 	10,862	 	 	 	10,969	 	 	 	61	 	 	 	(392	) 	
								
Other assets	 	 	1,276	 	 	 	1,253	 	 	 	1,237	 	 	 	1,207	 	 	 	1,206	 	 	 	23	 	 	 	70	 	

Total assets	 	 $	 109,114	 	 	 $	 107,178	 	 	 $	 105,754	 	 	 $	 103,653	 	 	 $	 99,617	 	 	 $	 1,936	 	 	 $	 9,497	 	

			
3Q 2022  Preliminary Results	  	9	

 
			
ALLY FINANCIAL INC.
AUTOMOTIVE FINANCE - KEY STATISTICS

																													
 	 	QUARTERLY TRENDS	 	CHANGE VS.	
 	 	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
						
U.S. Consumer Originations (1) ($ in billions)	 	 				 				 				 				 				
								
Retail standard - new vehicle GM	 	 $	1.2	 	 	 $	1.1	 	 	 $	0.9	 	 	 $	0.8	 	 	 $	0.9	 	 	 $	0.2	 	 	 $	0.3	 	
								
Retail standard - new vehicle Stellantis	 	 	0.9	 	 	 	0.9	 	 	 	1.0	 	 	 	1.0	 	 	 	1.1	 	 	 	0.0	 	 	 	(0.1	) 	
								
Retail standard - new vehicle Growth	 	 	1.2	 	 	 	1.2	 	 	 	1.0	 	 	 	1.0	 	 	 	1.2	 	 	 	0.0	 	 	 	0.1	 	
								
Used vehicle	 	 	7.9	 	 	 	9.1	 	 	 	7.6	 	 	 	7.0	 	 	 	7.8	 	 	 	(1.2	) 	 	 	0.0	 	
								
Lease	 	 	1.1	 	 	 	0.9	 	 	 	1.0	 	 	 	0.9	 	 	 	1.3	 	 	 	0.2	 	 	 	(0.2	) 	
								
Retail subvented	 	 	0.0	 	 	 	0.0	 	 	 	0.1	 	 	 	0.1	 	 	 	0.1	 	 	 	0.0	 	 	 	0.0	 	

Total originations	 	 $	12.3	 	 	 $	13.3	 	 	 $	11.6	 	 	 $	10.9	 	 	 $	12.3	 	 	 $	(0.9	) 	 	 $	0.1	 	
								
U.S. Consumer Originations - FICO Score	 				 				 				 				 				 				 				
								
Super prime (760-999)	 	 $	2.1	 	 	 $	2.0	 	 	 $	1.8	 	 	 $	1.6	 	 	 $	1.9	 	 	 $	0.0	 	 	 $	0.1	 	
								
High prime (720-759)	 	 	1.6	 	 	 	1.7	 	 	 	1.4	 	 	 	1.3	 	 	 	1.5	 	 	 	(0.1	) 	 	 	0.1	 	
								
Prime (660-719)	 	 	4.0	 	 	 	4.3	 	 	 	3.7	 	 	 	3.5	 	 	 	4.0	 	 	 	(0.3	) 	 	 	0.0	 	
								
Prime/Near (620-659)	 	 	2.6	 	 	 	3.0	 	 	 	2.8	 	 	 	2.6	 	 	 	3.0	 	 	 	(0.4	) 	 	 	(0.3	) 	
								
Non-Prime (540-619)	 	 	0.9	 	 	 	1.2	 	 	 	0.9	 	 	 	1.0	 	 	 	1.0	 	 	 	(0.2	) 	 	 	(0.1	) 	
								
Sub-Prime (0-539)	 	 	0.2	 	 	 	0.2	 	 	 	0.1	 	 	 	0.1	 	 	 	0.1	 	 	 	0.0	 	 	 	0.1	 	
								
No FICO (Primarily CSG) (2)	 	 	0.9	 	 	 	0.9	 	 	 	0.9	 	 	 	0.7	 	 	 	0.7	 	 	 	0.0	 	 	 	0.2	 	

Total originations	 	 $	12.3	 	 	 $	13.3	 	 	 $	11.6	 	 	 $	10.9	 	 	 $	12.3	 	 	 $	(0.9	) 	 	 $	0.1	 	
						
U.S. Consumer Retail Originations - Average FICO	 	 				 				 				 				 				
								
New vehicle	 	 	699	 	 	 	698	 	 	 	697	 	 	 	697	 	 	 	694	 	 	 	1	 	 	 	4	 	
								
Used vehicle	 	 	684	 	 	 	682	 	 	 	682	 	 	 	679	 	 	 	679	 	 	 	2	 	 	 	4	 	
								
Total retail originations	 	 	688	 	 	 	685	 	 	 	686	 	 	 	684	 	 	 	683	 	 	 	2	 	 	 	4	 	
								
U.S. Market	 				 				 				 				 				 				 				
								
New light vehicle sales (SAAR - units in millions)	 	 	13.3	 	 	 	13.3	 	 	 	14.1	 	 	 	13.0	 	 	 	13.3	 	 	 	0.0	 	 	 	(0.1	) 	
								
New light vehicle sales (quarterly - units in millions)	 	 	3.4	 	 	 	3.5	 	 	 	3.3	 	 	 	3.2	 	 	 	3.4	 	 	 	(0.1	) 	 	 	0.0	 	
								
Dealer Engagement	 				 				 				 				 				 				 				
								
Total Active Dealers (3)	 	 	22,923	 	 	 	22,408	 	 	 	21,688	 	 	 	21,076	 	 	 	20,353	 	 	 	515	 	 	 	2,570	 	
								
Total Application Volume (000s)	 	 	3,149	 	 	 	3,296	 	 	 	3,169	 	 	 	2,933	 	 	 	3,258	 	 	 	(147	) 	 	 	(109	) 	
			
Ally U.S. Commercial Outstandings EOP ($ in billions)	 	 				 				
								
Floorplan outstandings	 	 $	10.8	 	 	 $	11.0	 	 	 $	12.4	 	 	 $	11.1	 	 	 $	7.6	 	 	 $	(0.2	) 	 	 $	3.2	 	
								
Dealer loans and other	 	 	5.3	 	 	 	5.1	 	 	 	4.9	 	 	 	4.9	 	 	 	5.0	 	 	 	0.2	 	 	 	0.4	 	

Total Commercial outstandings	 	 $	16.2	 	 	 $	16.1	 	 	 $	17.3	 	 	 $	16.1	 	 	 $	12.6	 	 	 $	0.1	 	 	 $	3.6	 	
								
U.S. Off-Lease Remarketing	 				 				 				 				 				 				 				
								
Off-lease vehicles terminated - on-balance sheet (# in units)	 	 	29,562	 	 	 	29,665	 	 	 	30,488	 	 	 	27,977	 	 	 	34,475	 	 	 	(103	) 	 	 	(4,913	) 	
								
Average gain per vehicle	 	 $	1,325	 	 	 $	1,671	 	 	 $	1,640	 	 	 $	2,339	 	 	 $	2,495	 	 	 $	(346	) 	 	 $	(1,169	) 	
								
Total gain ($ in millions)	 	 $	39	 	 	 $	50	 	 	 $	50	 	 	 $	65	 	 	 $	86	 	 	 $	(10	) 	 	 $	(47	) 	

(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 3Q22	
(3)	Active Dealers include those who utilize one or more of Ally’s products including consumer and commercial lending, SmartAuction or Commercial Services Group	

3Q 2022  Preliminary Results	  	10	

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

																													
								
($ in millions)	  				 				 				 				 				 				 				
 	  	QUARTERLY TRENDS	 	CHANGE VS.	
	Income Statement (GAAP View)	  	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
								
Net financing revenue	  				 				 				 				 				 				 				
								
Total interest and fees on finance receivables and loans(1)	  	 $	2	 	 	 $	2	 	 	 $	3	 	 	 $	4	 	 	 $	3	 	 	 $	—	 	 	 $	(1	) 	
								
Interest and dividends on investment securities	  	 	28	 	 	 	29	 	 	 	26	 	 	 	26	 	 	 	25	 	 	 	(1	) 	 	 	3	 	
								
Interest bearing cash	  	 	1	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	1	 	 	 	1	 	 	 	—	 	

Total financing revenue and other interest revenue	  	 	31	 	 	 	31	 	 	 	29	 	 	 	30	 	 	 	29	 	 	 	—	 	 	 	2	 	
								
Interest expense	  	 	7	 	 	 	11	 	 	 	12	 	 	 	15	 	 	 	15	 	 	 	(4	) 	 	 	(8	) 	

Net financing revenue	  	 	24	 	 	 	20	 	 	 	17	 	 	 	15	 	 	 	14	 	 	 	4	 	 	 	10	 	
								
Other revenue	  				 				 				 				 				 				 				
								
Insurance premiums and service revenue earned	  	 	289	 	 	 	280	 	 	 	280	 	 	 	280	 	 	 	279	 	 	 	9	 	 	 	10	 	
								
Other (loss) / gain on investments, net	  	 	(56	) 	 	 	(127	) 	 	 	(14	) 	 	 	56	 	 	 	1	 	 	 	71	 	 	 	(57	) 	
								
Other income, net of losses	  	 	3	 	 	 	5	 	 	 	4	 	 	 	3	 	 	 	3	 	 	 	(2	) 	 	 	—	 	

Total other revenue	  	 	236	 	 	 	158	 	 	 	270	 	 	 	339	 	 	 	283	 	 	 	78	 	 	 	(47	) 	

Total net revenue	  	 	260	 	 	 	178	 	 	 	287	 	 	 	354	 	 	 	297	 	 	 	82	 	 	 	(37	) 	
								
Noninterest expense	  				 				 				 				 				 				 				
								
Compensation and benefits expense	  	 	26	 	 	 	24	 	 	 	28	 	 	 	23	 	 	 	23	 	 	 	2	 	 	 	3	 	
								
Insurance losses and loss adjustment expenses	  	 	70	 	 	 	89	 	 	 	58	 	 	 	55	 	 	 	69	 	 	 	(19	) 	 	 	1	 	
								
Other operating expenses	  	 	194	 	 	 	187	 	 	 	188	 	 	 	185	 	 	 	181	 	 	 	7	 	 	 	13	 	

Total noninterest expense	  	 	290	 	 	 	300	 	 	 	274	 	 	 	263	 	 	 	273	 	 	 	(10	) 	 	 	17	 	

Pre-tax (loss) income	  	 $	(30	) 	 	 $	(122	) 	 	 $	13	 	 	 $	91	 	 	 $	24	 	 	 $	92	 	 	 $	(54	) 	

Memo: Income Statement (Managerial View)	  				 				 				 				 				 				 				
								
Insurance premiums and other income	  				 				 				 				 				 				 				
								
Insurance premiums and service revenue earned	  	 $	289	 	 	 $	280	 	 	 $	280	 	 	 $	280	 	 	 $	279	 	 	 $	9	 	 	 $	10	 	
								
Investment income (adjusted) (2)	  	 	30	 	 	 	29	 	 	 	64	 	 	 	47	 	 	 	80	 	 	 	1	 	 	 	(50	) 	
								
Other income	  	 	3	 	 	 	5	 	 	 	4	 	 	 	3	 	 	 	3	 	 	 	(2	) 	 	 	—	 	

Total insurance premiums and other income	  	 	322	 	 	 	314	 	 	 	348	 	 	 	330	 	 	 	362	 	 	 	8	 	 	 	(40	) 	
								
Expense	  				 				 				 				 				 				 				
								
Insurance losses and loss adjustment expenses	  	 	70	 	 	 	89	 	 	 	58	 	 	 	55	 	 	 	69	 	 	 	(19	) 	 	 	1	 	
								
Acquisition and underwriting expenses	  				 				 				 				 				 				 				
								
Compensation and benefit expense	  	 	26	 	 	 	24	 	 	 	28	 	 	 	23	 	 	 	23	 	 	 	2	 	 	 	3	 	
								
Insurance commission expense	  	 	152	 	 	 	151	 	 	 	149	 	 	 	147	 	 	 	142	 	 	 	1	 	 	 	10	 	
								
Other expense	  	 	42	 	 	 	36	 	 	 	39	 	 	 	38	 	 	 	39	 	 	 	6	 	 	 	3	 	

Total acquistion and underwriting expense	  	 	220	 	 	 	211	 	 	 	216	 	 	 	208	 	 	 	204	 	 	 	9	 	 	 	16	 	

Total expense	  	 	290	 	 	 	300	 	 	 	274	 	 	 	263	 	 	 	273	 	 	 	(10	) 	 	 	17	 	

Core pre-tax income (2)	  	 	32	 	 	 	14	 	 	 	74	 	 	 	67	 	 	 	89	 	 	 	18	 	 	 	(57	) 	
								
Change in the fair value of equity securities (2)	  	 	(62	) 	 	 	(136	) 	 	 	(61	) 	 	 	24	 	 	 	(65	) 	 	 	74	 	 	 	3	 	

(Loss) income before income tax expense	  	 $	(30	) 	 	 $	(122	) 	 	 $	13	 	 	 $	91	 	 	 $	24	 	 	 $	92	 	 	 $	(54	) 	

Balance Sheet (Period-End)	  				 				 				 				 				 				 				
								
Cash and investment securities	  	  $	5,161	 	 	  $	5,407	 	 	  $	5,651	 	 	  $	5,530	 	 	  $	5,503	 	 	  $	(246	) 	 	  $	(342	) 	
								
Intercompany loans(1)	  	 	390	 	 	 	411	 	 	 	572	 	 	 	923	 	 	 	898	 	 	 	(21	) 	 	 	(508	) 	
								
Premiums receivable and other insurance assets	  	 	2,731	 	 	 	2,755	 	 	 	2,741	 	 	 	2,735	 	 	 	2,761	 	 	 	(24	) 	 	 	(30	) 	
								
Other assets	  	 	251	 	 	 	246	 	 	 	256	 	 	 	193	 	 	 	192	 	 	 	5	 	 	 	59	 	

Total assets	  	 $	  8,533	 	 	 $	  8,819	 	 	 $	  9,220	 	 	 $	  9,381	 	 	 $	  9,354	 	 	 $	(286	) 	 	 $	(821	) 	

Key Statistics	  				 				 				 				 				 				 				
								
Total written premiums and revenue (3)	  	 $	291	 	 	 $	262	 	 	 $	265	 	 	 $	268	 	 	 $	295	 	 	 $	29	 	 	 $	(4	) 	
								
Loss ratio (4)	  	 	23.9	% 	 	 	31.2	% 	 	 	20.5	% 	 	 	19.5	% 	 	 	24.4	% 	 				 				
								
Underwriting expense ratio (5)	  	 	74.8	% 	 	 	74.8	% 	 	 	76.0	% 	 	 	73.4	% 	 	 	72.0	% 	 				 				

Combined ratio	  	 	98.7	% 	 	 	106.0	% 	 	 	96.5	% 	 	 	92.9	% 	 	 	96.4	% 	 				 				

(1)	Intercompany activity represents excess liquidity placed with corporate segment	
(2)	Represents a non-GAAP financial measure. See page 25 for methodology and detail.	
(3)	Written premiums are net of ceded premium for reinsurance.	
(4)	Loss Ratio is calculated as Insurance losses and loss adjustment expenses divided by Insurance premiums and service revenue earned and Other Income, net of losses.	
(5)	Underwriting Expense Ratio is calculated as Compensation and benefits expense and Other operating expenses divided by Insurance premiums and service revenue earned and Other Income, net of losses.	

3Q 2022  Preliminary Results	  	11	

 
			
ALLY FINANCIAL INC.
MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS

																													
($ in millions)	  	 	 	 	 	 	 	 	 	 	 	 	 	 	
			
 	  	QUARTERLY TRENDS	 	CHANGE VS.	
	Income Statement	  	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
								
Net financing revenue	  				 				 				 				 				 				 				
								
Total financing revenue and other interest income	  	  $	151	 	 	  $	139	 	 	  $	130	 	 	  $	119	 	 	  $	106	 	 	  $	12	 	 	  $	45	 	
								
Interest expense	  	 	94	 	 	 	83	 	 	 	77	 	 	 	77	 	 	 	70	 	 	 	11	 	 	 	24	 	

Net financing revenue	  	 	57	 	 	 	56	 	 	 	53	 	 	 	42	 	 	 	36	 	 	 	1	 	 	 	21	 	
								
Gain on mortgage loans, net	  	 	7	 	 	 	4	 	 	 	14	 	 	 	14	 	 	 	18	 	 	 	3	 	 	 	(11	) 	
								
Other income, net of losses	  	 	—	 	 	 	—	 	 	 	—	 	 	 	(1	) 	 	 	1	 	 	 	—	 	 	 	(1	) 	

Total other revenue	  	 	7	 	 	 	4	 	 	 	14	 	 	 	13	 	 	 	19	 	 	 	3	 	 	 	(12	) 	

Total net revenue	  	 	64	 	 	 	60	 	 	 	67	 	 	 	55	 	 	 	55	 	 	 	4	 	 	 	9	 	

Provision for loan losses	  	 	2	 	 	 	—	 	 	 	—	 	 	 	1	 	 	 	2	 	 	 	2	 	 	 	—	 	
								
Noninterest expense	  				 				 				 				 				 				 				
								
Compensation and benefits expense	  	 	5	 	 	 	6	 	 	 	6	 	 	 	6	 	 	 	5	 	 	 	(1	) 	 	 	—	 	
								
Other operating expense	  	 	38	 	 	 	48	 	 	 	50	 	 	 	45	 	 	 	42	 	 	 	(10	) 	 	 	(4	) 	

Total noninterest expense	  	 	43	 	 	 	54	 	 	 	56	 	 	 	51	 	 	 	47	 	 	 	(11	) 	 	 	(4	) 	

Pre-tax Income	  	  $	19	 	 	  $	6	 	 	  $	11	 	 	  $	3	 	 	  $	6	 	 	  $	13	 	 	  $	13	 	

Balance Sheet (Period-End)	  				 				 				 				 				 				 				
								
Finance receivables and loans, net:	  				 				 				 				 				 				 				
								
Consumer loans	  	  $	19,715	 	 	  $	18,923	 	 	  $	18,372	 	 	  $	17,644	 	 	  $	16,059	 	 	  $	792	 	 	  $	3,656	 	
								
Allowance for loan losses	  	 	(21	) 	 	 	(20	) 	 	 	(19	) 	 	 	(19	) 	 	 	(17	) 	 	 	(1	) 	 	 	(4	) 	

Total finance receivables and loans, net	  	 	19,694	 	 	 	18,903	 	 	 	18,353	 	 	 	17,625	 	 	 	16,042	 	 	 	791	 	 	 	3,652	 	
								
Loans held for sale, net	  	 	44	 	 	 	81	 	 	 	95	 	 	 	80	 	 	 	102	 	 	 	(37	) 	 	 	(58	) 	
								
Other assets	  	 	124	 	 	 	142	 	 	 	148	 	 	 	142	 	 	 	184	 	 	 	(18	) 	 	 	(60	) 	

Total assets	  	  $	19,862	 	 	  $	19,126	 	 	  $	18,596	 	 	  $	17,847	 	 	  $	16,328	 	 	  $	736	 	 	  $	3,534	 	

			
3Q 2022  Preliminary Results	  	12	

 
			
ALLY FINANCIAL INC.
CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS

																													
($ in millions)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	QUARTERLY TRENDS	 	CHANGE VS.	
	Income Statement	 	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
								
Net financing revenue	 				 				 				 				 				 				 				
								
Total financing revenue and other interest income	 	  $	148	 	 	  $	104	 	 	  $	95	 	 	  $	93	 	 	  $	86	 	 	  $	44	 	 	  $	62	 	
								
Interest expense	 	 	68	 	 	 	27	 	 	 	12	 	 	 	10	 	 	 	9	 	 	 	41	 	 	 	59	 	

Net financing revenue	 	 	80	 	 	 	77	 	 	 	83	 	 	 	83	 	 	 	77	 	 	 	3	 	 	 	3	 	
								
Total other revenue	 	 	54	 	 	 	19	 	 	 	24	 	 	 	53	 	 	 	16	 	 	 	35	 	 	 	38	 	

Total net revenue	 	 	134	 	 	 	96	 	 	 	107	 	 	 	136	 	 	 	93	 	 	 	38	 	 	 	41	 	
								
Provision for loan losses	 	 	13	 	 	 	8	 	 	 	6	 	 	 	33	 	 	 	5	 	 	 	5	 	 	 	8	 	
								
Noninterest expense	 				 				 				 				 				 				 				
								
Compensation and benefits expense	 	 	17	 	 	 	15	 	 	 	23	 	 	 	18	 	 	 	15	 	 	 	2	 	 	 	2	 	
								
Other operating expense	 	 	13	 	 	 	13	 	 	 	14	 	 	 	12	 	 	 	12	 	 	 	—	 	 	 	1	 	

Total noninterest expense	 	 	30	 	 	 	28	 	 	 	37	 	 	 	30	 	 	 	27	 	 	 	2	 	 	 	3	 	

Pre-tax Income	 	  $	91	 	 	  $	60	 	 	  $	64	 	 	  $	73	 	 	  $	61	 	 	  $	31	 	 	  $	30	 	

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

Core pre-tax income (2)	 	  $	91	 	 	  $	60	 	 	  $	68	 	 	  $	75	 	 	  $	60	 	 	  $	31	 	 	  $	31	 	

Balance Sheet (Period-End)	 				 				 				 				 				 				 				
								
Equity securities	 	  $	6	 	 	  $	3	 	 	  $	3	 	 	  $	11	 	 	  $	14	 	 	  $	3	 	 	  $	(8)	 	
								
Loans held for sale, net	 	 	544	 	 	 	517	 	 	 	190	 	 	 	305	 	 	 	215	 	 	 	27	 	 	 	329	 	
								
Commercial loans	 	 	9,355	 	 	 	8,475	 	 	 	8,021	 	 	 	7,770	 	 	 	6,609	 	 	 	880	 	 	 	2,746	 	
								
Allowance for loan losses	 	 	(186)	 	 	 	(203)	 	 	 	(221)	 	 	 	(215)	 	 	 	(183)	 	 	 	17	 	 	 	(3)	 	

Total finance receivables and loans, net	 	 	9,169	 	 	 	8,272	 	 	 	7,800	 	 	 	7,555	 	 	 	6,426	 	 	 	897	 	 	 	2,743	 	
								
Other assets	 	 	121	 	 	 	98	 	 	 	93	 	 	 	79	 	 	 	74	 	 	 	23	 	 	 	47	 	

Total assets	 	  $	9,840	 	 	  $	8,890	 	 	  $	8,086	 	 	  $	7,950	 	 	  $	6,729	 	 	  $	950	 	 	  $	3,111	 	

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

3Q 2022  Preliminary Results	  	13	

 
			
ALLY FINANCIAL INC.
CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

																													
($ in millions)	  	QUARTERLY TRENDS	 	CHANGE VS.	
	Income Statement	  	3Q 22	 	2Q 22	 	1Q 22	 	4Q 21	 	3Q 21	 	2Q 22	 	3Q 21	
								
Net financing revenue	  				 				 				 				 				 				 				
								
Total financing revenue and other interest income	  	 	384	 	 	 	276	 	 	 	223	 	 	 	155	 	 	 	131	 	 	 	108	 	 	 	253	 	

Interest expense	  	 	129	 	 	 	(34	) 	 	 	(22	) 	 	 	(18	) 	 	 	(7	) 	 	 	163	 	 	 	136	 	

Net financing revenue	  	 	255	 	 	 	310	 	 	 	245	 	 	 	173	 	 	 	138	 	 	 	(55	) 	 	 	117	 	
								
Other revenue	  				 				 				 				 				 				 				
								
Loss on extinguishment of debt	  	 	0	 	 	 	0	 	 	 	—	 	 	 	(10	) 	 	 	(52	) 	 	 	0	 	 	 	52	 	
								
Other gain on investments, net	  	 	2	 	 	 	2	 	 	 	18	 	 	 	17	 	 	 	22	 	 	 	—	 	 	 	(20	) 	
								
Other income, net of losses (1)	  	 	(76	) 	 	 	57	 	 	 	48	 	 	 	66	 	 	 	42	 	 	 	(133	) 	 	 	(118	) 	

Total other revenue	  	 	(74	) 	 	 	59	 	 	 	66	 	 	 	73	 	 	 	12	 	 	 	(133	) 	 	 	(86	) 	

Total net revenue	  	 	181	 	 	 	369	 	 	 	311	 	 	 	246	 	 	 	150	 	 	 	(188	) 	 	 	31	 	
								
Provision for loan losses	  	 	95	 	 	 	68	 	 	 	57	 	 	 	131	 	 	 	16	 	 	 	27	 	 	 	79	 	
								
Noninterest expense	  				 				 				 				 				 				 				
								
Compensation and benefits expense	  	 	264	 	 	 	240	 	 	 	268	 	 	 	220	 	 	 	210	 	 	 	24	 	 	 	54	 	
								
Other operating expense (2)	  	 	(27	) 	 	 	(29	) 	 	 	(47	) 	 	 	2	 	 	 	(67	) 	 	 	2	 	 	 	40	 	

Total noninterest expense	  	 	237	 	 	 	211	 	 	 	221	 	 	 	222	 	 	 	143	 	 	 	26	 	 	 	94	 	

Pre-tax (loss) income	  	  $	(151	) 	 	  $	90	 	 	  $	33	 	 	  $	(107	) 	 	  $	(9	) 	 	  $	(241	) 	 	  $	(142	) 	

Change in the fair value of equity securities (3)	  	 	0	 	 	 	0	 	 	 	0	 	 	 	1	 	 	 	1	 	 	 	0	 	 	 	(1	) 	
								
Core OID (4)	  	 	11	 	 	 	10	 	 	 	10	 	 	 	9	 	 	 	9	 	 	 	0	 	 	 	1	 	
								
Repositioning (3)	  	 	20	 	 	 	—	 	 	 	—	 	 	 	107	 	 	 	52	 	 	 	20	 	 	 	(31	) 	

Core pre-tax (loss) income (4)	  	  $	(120	) 	 	  $	101	 	 	  $	43	 	 	  $	10	 	 	  $	52	 	 	  $	(221	) 	 	  $	(173	) 	

	Balance Sheet (Period-End)	  	 	 	 	 	 	 	 	 	 	 	 	 	 	
								
Cash, trading and investment securities	  	  $	31,181	 	 	  $	32,324	 	 	  $	33,667	 	 	  $	35,357	 	 	  $	40,692	 	 	  $	(1,143	) 	 	  $	(9,511	) 	
								
Loans held-for-sale, net	  	 	214	 	 	 	200	 	 	 	186	 	 	 	164	 	 	 	139	 	 	 	14	 	 	 	75	 	
								
Consumer loans	  	 	2,889	 	 	 	2,569	 	 	 	2,235	 	 	 	2,293	 	 	 	1,310	 	 	 	320	 	 	 	1,579	 	
								
Commercial loans	  	 	218	 	 	 	190	 	 	 	180	 	 	 	198	 	 	 	223	 	 	 	28	 	 	 	(5	) 	
								
Intercompany loans(5)	  	 	(390	) 	 	 	(411	) 	 	 	(572	) 	 	 	(923	) 	 	 	(898	) 	 	 	21	 	 	 	508	 	
								
Allowance for loan losses	  	 	(380	) 	 	 	(313	) 	 	 	(267	) 	 	 	(231	) 	 	 	(97	) 	 	 	(67	) 	 	 	(283	) 	

Total finance receivables and loans, net	  	 	2,337	 	 	 	2,035	 	 	 	1,576	 	 	 	1,337	 	 	 	538	 	 	 	302	 	 	 	1,799	 	
								
Other assets	  	 	7,559	 	 	 	7,131	 	 	 	7,212	 	 	 	6,661	 	 	 	5,787	 	 	 	428	 	 	 	1,772	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total assets	  	  $	41,291	 	 	  $	  41,690	 	 	  $	  42,641	 	 	  $	  43,519	 	 	  $	47,156	 	 	  $	  (399	) 	 	  $	  (5,865	) 	

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

Remaining Core OID amortization expense	  	  $	11	 	 	  $	48	 	 	  $	56	 	 	  $	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 $321 million for 3Q22, $307 million for 2Q22, $311 million for 1Q22, $294 million for 4Q21, and $290 million for 3Q21. 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.

3Q 2022  Preliminary Results	  	14	

 
			
ALLY FINANCIAL INC.
CREDIT RELATED INFORMATION

																														
$ in millions	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 		
				
 	  	QUARTERLY TRENDS	 	 	        CHANGE VS.        	 		
									
	Asset Quality - Consolidated (1)	  	    3Q 22    	 	 	    2Q 22  	 	 	  1Q 22  	 	 	  4Q 21  	 	 	  3Q 21  	 	 	  2Q 22  	 	  	  3Q 21  	 	
									
Ending loan balance	  	$	    132,450	 	 	$	    128,450	 	 	$	    125,358	 	 	$	    122,261	 	 	$	    114,463	 	 	$	    4,000	 	  	$	    17,987	 		
									
30+ Accruing DPD	  	$	2,608	 	 	$	2,198	 	 	$	1,684	 	 	$	1,793	 	 	$	1,591	 	 	$	410	 	  	$	1,017	 		
									
30+ Accruing DPD %	  	 	1.97	% 	 	 	1.71	% 	 	 	1.34	% 	 	 	1.47	% 	 	 	1.39	% 	 				  					
									
60+ Accruing DPD	  	$	609	 	 	$	491	 	 	$	380	 	 	$	401	 	 	$	308	 	 	$	118	 	  	$	301	 		
									
60+ Accruing DPD %	  	 	0.46	% 	 	 	0.38	% 	 	 	0.30	% 	 	 	0.33	% 	 	 	0.27	% 	 				  					
									
Non-performing loans (NPLs)	  	$	1,383	 	 	$	1,380	 	 	$	1,388	 	 	$	1,436	 	 	$	1,285	 	 	$	3	 	  	$	98	 		
									
Net charge-offs (NCOs)	  	$	276	 	 	$	153	 	 	$	133	 	 	$	103	 	 	$	54	 	 	$	123	 	  	$	222	 		
									
Net charge-off rate (2)	  	 	0.85	% 	 	 	0.49	% 	 	 	0.43	% 	 	 	0.35	% 	 	 	0.19	% 	 				  					
									
Provision for loan losses (3)	  	$	438	 	 	$	304	 	 	$	167	 	 	$	210	 	 	$	76	 	 	$	134	 	  	$	362	 		
									
Allowance for loan losses (ALLL)	  	$	3,611	 	 	$	3,450	 	 	$	3,301	 	 	$	3,267	 	 	$	3,148	 	 	$	161	 	  	$	464	 		
									
ALLL as % of Loans (3) (4)	  	 	2.71	% 	 	 	2.68	% 	 	 	2.63	% 	 	 	2.67	% 	 	 	2.75	% 	 				  					
									
ALLL as % of NPLs (3)	  	 	261	% 	 	 	250	% 	 	 	238	% 	 	 	227	% 	 	 	245	% 	 				  					
									
ALLL as % of NCOs (3)	  	 	327	% 	 	 	561	% 	 	 	621	% 	 	 	n/m	 	 	 	n/m	 	 				  					
							
US Auto Delinquencies - HFI Retail Contract $‘s	 	 				 				 				 				  					
									
30+ Delinquent contract $	  	$	2,442	 	 	$	2,061	 	 	$	1,594	 	 	$	1,677	 	 	$	1,427	 	 	$	381	 	  	$	1,015	 		
									
% of retail contract $outstanding	  	 	2.93	% 	 	 	2.52	% 	 	 	2.02	% 	 	 	2.14	% 	 	 	1.83	% 	 				  					
									
60+ Delinquent contract $	  	$	577	 	 	$	470	 	 	$	362	 	 	$	378	 	 	$	298	 	 				  					
									
% of retail contract $outstanding	  	 	0.69	% 	 	 	0.57	% 	 	 	0.46	% 	 	 	0.48	% 	 	 	0.38	% 	 				  					
						
U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract $‘s	 	 				 				 				  					
									
Net charge-offs	  	$	217	 	 	$	108	 	 	$	113	 	 	$	94	 	 	$	51	 	 	$	109	 	  	$	166	 		
									
% of avg. HFI assets (2)	  	 	1.05	% 	 	 	0.54	% 	 	 	0.58	% 	 	 	0.48	% 	 	 	0.27	% 	 				  					
					
U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract $‘s	 	 				 				  					
									
Net charge-offs	  	$	0	 	 	$	(1	) 	 	$	(1	) 	 	$	0	 	 	$	0	 	 	$	1	 	  	$	0	 		
									
% 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 ($658M) of fair value adjustment for loans in hedge accounting relationships in 3Q22, ($501M) in 2Q22, ($350M) in 1Q22, ($37M) in 4Q21 and $78M in 3Q21.

3Q 2022  Preliminary Results	  	15	

 
			
ALLY FINANCIAL INC.
CREDIT RELATED INFORMATION, CONTINUED

																													
($ in millions)	  	 	
Automotive Finance (1)	  	QUARTERLY TRENDS	  	CHANGE VS.	
								
Consumer	  	        3Q 22        	  	        2Q 22        	  	        1Q 22        	  	        4Q 21        	  	        3Q 21        	  	        2Q 22        	  	        3Q 21        	
Allowance for loan losses	  	  $	2,993	 	  	  $	2,885	 	  	  $	2,763	 	  	  $	2,769	 	  	  $	2,810	 	  	  $	108	 	  	  $	183	 	
								
Total consumer loans (2)	  	  $	83,459	 	  	  $	81,691	 	  	  $	78,911	 	  	  $	78,252	 	  	  $	77,761	 	  	  $	1,768	 	  	  $	5,698	 	
								
Coverage ratio (3)	  	 	3.56%	 	  	 	3.51%	 	  	 	3.49%	 	  	 	3.54%	 	  	 	3.62%	 	  				  				
								
Commercial	  				  				  				  				  				  				  				
								
Allowance for loan losses	  	  $	30	 	  	  $	30	 	  	  $	31	 	  	  $	33	 	  	  $	41	 	  	  $	1	 	  	  $	(11)	 	
								
Total commercial loans	  	  $	16,163	 	  	  $	16,108	 	  	  $	17,295	 	  	  $	16,074	 	  	  $	12,587	 	  	  $	55	 	  	  $	3,576	 	
								
Coverage ratio	  	 	0.19%	 	  	 	0.18%	 	  	 	0.18%	 	  	 	0.21%	 	  	 	0.32%	 	  				  				
								
Mortgage (1)	  				  				  				  				  				  				  				
								
Consumer	  				  				  				  				  				  				  				
								
Mortgage Finance	  				  				  				  				  				  				  				
								
Allowance for loan losses	  	  $	21	 	  	  $	20	 	  	  $	19	 	  	  $	19	 	  	  $	17	 	  	  $	1	 	  	  $	4	 	
								
Total consumer loans	  	  $	19,715	 	  	  $	18,923	 	  	  $	18,372	 	  	  $	17,644	 	  	  $	16,059	 	  	  $	792	 	  	  $	3,656	 	
								
Coverage ratio	  	 	0.11%	 	  	 	0.11%	 	  	 	0.10%	 	  	 	0.11%	 	  	 	0.11%	 	  				  				
								
Mortgage-Legacy	  				  				  				  				  				  				  				
								
Allowance for loan losses	  	  $	6	 	  	  $	6	 	  	  $	7	 	  	  $	8	 	  	  $	8	 	  	  $	—	 	  	  $	(2)	 	
								
Total consumer loans	  	  $	306	 	  	  $	322	 	  	  $	341	 	  	  $	368	 	  	  $	396	 	  	  $	(16)	 	  	  $	(90)	 	
								
Coverage ratio	  	 	1.86%	 	  	 	1.92%	 	  	 	2.03%	 	  	 	2.05%	 	  	 	2.04%	 	  				  				
								
Total Mortgage	  				  				  				  				  				  				  				
								
Allowance for loan losses	  	  $	27	 	  	  $	26	 	  	  $	26	 	  	  $	27	 	  	  $	25	 	  	  $	1	 	  	  $	2	 	
								
Total consumer loans	  	  $	20,021	 	  	  $	19,245	 	  	  $	18,713	 	  	  $	18,012	 	  	  $	16,455	 	  	  $	776	 	  	  $	3,566	 	
								
Coverage ratio	  	 	0.13%	 	  	 	0.14%	 	  	 	0.14%	 	  	 	0.15%	 	  	 	0.15%	 	  				  				
								
Consumer Other - Ally Lending (1) (4)	  				  				  				  				  				  				  				
								
Allowance for loan losses	  	  $	167	 	  	  $	141	 	  	  $	124	 	  	  $	102	 	  	  $	86	 	  	  $	26	 	  	  $	81	 	
								
Total consumer loans	  	  $	1,807	 	  	  $	1,516	 	  	  $	1,202	 	  	  $	1,002	 	  	  $	828	 	  	  $	291	 	  	  $	980	 	
								
Coverage ratio	  	 	9.22%	 	  	 	9.32%	 	  	 	10.32%	 	  	 	10.20%	 	  	 	10.34%	 	  				  				
								
Consumer Other - Ally Credit Card (1) (5)	  				  				  				  				  				  				  				
								
Allowance for loan losses	  	  $	205	 	  	  $	162	 	  	  $	134	 	  	  $	119	 	  	 	—	 	  	  $	43	 	  	  $	205	 	
								
Total consumer loans	  	  $	1,427	 	  	  $	1,224	 	  	  $	1,036	 	  	  $	953	 	  	 	—	 	  	  $	203	 	  	  $	1,427	 	
								
Coverage ratio	  	 	14.40%	 	  	 	13.25%	 	  	 	12.90%	 	  	 	12.44%	 	  	 	—	 	  				  				
								
Corporate Finance (1)	  				  				  				  				  				  				  				
								
Allowance for loan losses	  	  $	186	 	  	  $	203	 	  	  $	221	 	  	  $	215	 	  	  $	183	 	  	  $	(18)	 	  	  $	3	 	
								
Total commercial loans	  	  $	9,354	 	  	  $	8,476	 	  	  $	8,021	 	  	  $	7,770	 	  	  $	6,609	 	  	  $	878	 	  	  $
 	 
2,745	 

Coverage ratio	  	 	1.99%	 	  	 	2.40%	 	  	 	2.76%	 	  	 	2.77%	 	  	 	2.78%	 	  				  				
								
Corporate and Other (1)	  				  				  				  				  				  				  				
								
Allowance for loan losses	  	  $	3	 	  	  $	3	 	  	  $	2	 	  	  $	2	 	  	  $	3	 	  	  $	—	 	  	  $	—	 	
								
Total commercial loans	  	  $	219	 	  	  $	190	 	  	  $	180	 	  	  $	198	 	  	  $	223	 	  	  $	29	 	  	$	(4)	 	
								
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 ($658M) of fair value adjustment for loans in hedge accounting relationships in 3Q22, ($501M) in 2Q22, ($350M) in 1Q22, ($37M) in 4Q21 and $78M in 3Q21.
(3) Excludes ($658M) of fair value adjustment for loans in hedge accounting relationships in 3Q22, ($501M) in 2Q22, ($350M) in 1Q22, ($37M) in 4Q21 and $78M in 3Q21.
(4) Represents Health Credit Services (HCS) which Ally acquired in 4Q19 (now Ally Lending).
(5) Credit card lending portfolio.

3Q 2022  Preliminary Results	  	16	

 
			
ALLY FINANCIAL INC.
CAPITAL

																														
($ in billions)	  	QUARTERLY TRENDS	 	  	CHANGE VS.	 		
									
	Capital	  	3Q 22	 	  	2Q 22	 	  	1Q 22	 	  	4Q 21	 	  	3Q 21	 	  	2Q 22	 	  	3Q 21	 	
									
Risk-weighted assets	  	  $	155.1	 	  	  $	152.3	 	  	  $	149.0	 	  	  $	146.4	 	  	  $	140.0	 	  	  $	2.8	 	  	  $	15.1	 		
									
Common Equity Tier 1 (CET1) capital ratio	  	 	9.3%	 	  	 	9.6%	 	  	 	10.0%	 	  	 	10.3%	 	  	 	11.2%	 	  				  					
									
Tier 1 capital ratio	  	 	10.8%	 	  	 	11.1%	 	  	 	11.5%	 	  	 	11.9%	 	  	 	12.8%	 	  				  					
									
Total capital ratio	  	 	12.4%	 	  	 	12.7%	 	  	 	13.1%	 	  	 	13.5%	 	  	 	14.6%	 	  				  					
									
Tangible common equity / Tangible assets (1)(2)	  	 	4.9%	 	  	 	5.8%	 	  	 	6.6%	 	  	 	7.6%	 	  	 	8.2%	 	  				  					
									
Tangible common equity / Risk-weighted assets (1)	  	 	5.9%	 	  	 	7.1%	 	  	 	8.2%	 	  	 	9.4%	 	  	 	10.4%	 	  				  					
									
Shareholders’ equity	  	  $	12.4	 	  	  $	14.0	 	  	  $	15.4	 	  	  $	17.1	 	  	  $	17.3	 	  	  $	(1.6)	 	  	  $	(4.9)	 		
									
add:   CECL phase-in adjustment	  	 	0.9	 	  	 	0.9	 	  	 	0.9	 	  	 	1.2	 	  	 	1.2	 	  	 	—	 	  	 	(0.3)	 		
									
less:   Certain AOCI items and other adjustments	  	 	3.4	 	  	 	2.1	 	  	 	0.9	 	  	 	(0.8)	 	  	 	(0.5)	 	  	 	1.3	 	  	 	3.9	 		
									
          Preferred equity	  	 	(2.3)	 	  	 	(2.3)	 	  	 	(2.3)	 	  	 	(2.3)	 	  	 	(2.3)	 	  	 	—	 	  	 	—	 		

Common Equity Tier 1 capital	  	  $	14.4	 	  	  $	14.7	 	  	  $	14.8	 	  	  $	15.1	 	  	  $	15.7	 	  	  $	(0.3)	 	  	  $	(1.3)	 		

Common Equity Tier 1 capital	  	  $	14.4	 	  	  $	14.7	 	  	  $	14.8	 	  	  $	15.1	 	  	  $	15.7	 	  	  $	(0.3)	 	  	  $	(1.3)	 		
									
add:   Preferred equity	  	 	2.3	 	  	 	2.3	 	  	 	2.3	 	  	 	2.3	 	  	 	2.3	 	  	 	—	 	  	 	—	 		
									
less:   Other adjustments	  	 	—	 	  	 	—	 	  	 	—	 	  	 	(0.1)	 	  	 	(0.1)	 	  	 	—	 	  	 	0.1	 		

Tier 1 capital	  	  $	16.7	 	  	  $	16.9	 	  	  $	17.1	 	  	  $	17.4	 	  	  $	17.9	 	  	  $	(0.2)	 	  	2$	(1.2)	 		

Tier 1 capital	  	  $	16.7	 	  	  $	16.9	 	  	  $	17.1	 	  	  $	17.4	 	  	  $	17.9	 	  	  $	(0.2)	 	  	  $	(1.2)	 		
									
add:   Qualifying subordinated debt	  	 	0.6	 	  	 	0.6	 	  	 	0.6	 	  	 	0.6	 	  	 	0.8	 	  	 	—	 	  	 	(0.2)	 		
									
          Allowance for loan and lease losses includible in Tier 2 capital and other adjustments	  	 	1.9	 	  	 	1.9	 	  	 	1.8	 	  	 	1.7	 	  	 	1.6	 	  	 	—	 	  	 	0.3	 		

Total capital	  	  $	19.2	 	  	  $	19.4	 	  	  $	19.6	 	  	  $	19.7	 	  	  $	20.4	 	  	  $	(0.2)	 	  	  $	(1.2)	 		

Total shareholders’ equity	  	  $	12.4	 	  	  $	14.0	 	  	  $	15.4	 	  	  $	17.1	 	  	  $	17.3	 	  	  $	(1.6)	 	  	  $	(4.9)	 		
									
less:   Preferred equity	  	 	(2.3)	 	  	 	(2.3)	 	  	 	(2.3)	 	  	 	(2.3)	 	  	 	(2.3)	 	  	 	—	 	  	 	—	 		
									
          Goodwill and intangible assets, net of deferred tax liabilities	  	 	(0.9)	 	  	 	(0.9)	 	  	 	(0.9)	 	  	 	(0.9)	 	  	 	(0.4)	 	  	 	—	 	  	 	(0.5)	 		

Tangible common equity (1)	  	  $	9.2	 	  	  $	10.7	 	  	  $	12.2	 	  	  $	13.8	 	  	  $	14.6	 	  	$	(1.5)	 	  	  $	(5.4)	 		

Total assets	  	  $	188.6	 	  	  $	185.7	 	  	  $	184.3	 	  	  $	182.1	 	  	  $	179.2	 	  	  $	2.9	 	  	  $	      9.4	 		
									
less:   Goodwill and intangible assets, net of deferred tax liabilities	  	 	(0.9)	 	  	 	(0.9)	 	  	 	(0.9)	 	  	 	(0.9)	 	  	 	(0.4)	 	  	 	—	 	  	 	(0.5)	 		

Tangible assets (2)	  	  $	187.7	 	  	  $	184.8	 	  	  $	183.4	 	  	  $	181.2	 	  	  $	178.8	 	  	  $	2.9	 	  	  $	8.9	 		
 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 		
Note: Numbers may not foot due to rounding
(1) Represents a non-GAAP financial measure. See page 25 for methodology and detail.
(2) Represents a non-GAAP financial measure. Ally defines tangible assets as total assets less goodwill and intangible assets, net of deferred tax liabilities.
For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 25.

3Q 2022  Preliminary Results	  	17	

 
			
ALLY FINANCIAL INC.
LIQUIDITY AND DEPOSITS

																														
 	  	QUARTERLY TRENDS	 	  	CHANGE VS.	 		
	Consolidated Available Liquidity ($ in billions)	  	3Q 22	 	  	2Q 22	 	  	1Q 22	 	  	4Q 21	 	  	3Q 21	 	  	2Q 22	 	 	3Q 21	 	
									
Liquid cash and cash equivalents (1)	  	  $	4.6	 	  	  $	3.7	 	  	  $	3.6	 	  	  $	4.4	 	  	  $	10.1	 	  	  $	0.9	 	 	  $	(5.6	) 		
									
Highly liquid securities (2)	  	 	22.7	 	  	 	24.6	 	  	 	25.9	 	  	 	26.8	 	  	 	26.7	 	  	 	(1.9	) 	 	 	(3.9	) 		
									
Current committed unused capacity	  	 	—	 	  	 	—	 	  	 	—	 	  	 	0.0	 	  	 	0.1	 	  	 	—	 	 	 	(0.1	) 		

Total current available liquidity	  	  $	27.3	 	  	  $	28.3	 	  	  $	29.5	 	  	  $	31.2	 	  	$	36.9	 	  	  $	(1.0	) 	 	  $	(9.6	) 		

	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)	  	 	21.3	 	  	 	20.7	 	  	 	20.5	 	  	 	20.3	 	  	 	20.2	 	  	 	0.6	 	 	 	1.1	 		
									
Average retail deposit rate	  	 	1.50%	 	  	 	0.71%	 	  	 	0.59%	 	  	 	0.61%	 	  	 	0.64%	 	  				 					
									
End of Period Deposit Levels ($ in millions)	  				  				  				  				  				  				 					
									
Retail	  	  $	133,878	 	  	  $	131,155	 	  	  $	135,978	 	  	  $	134,672	 	  	  $	131,590	 	  	  $	2,723	 	 	  $	2,288	 		
									
Brokered & other	  	 	11,873	 	  	 	9,247	 	  	 	6,497	 	  	 	6,886	 	  	 	7,854	 	  	 	2,627	 	 	 	4,019	 		

Total deposits	  	  $	145,751	 	  	  $	140,402	 	  	  $	142,475	 	  	  $	141,558	 	  	  $	139,444	 	  	  $	5,350	 	 	  $	6,308	 		

Deposit Mix	  				  				  				  				  				  				 					
									
Retail CD	  	 	20%  	 	  	 	23%  	 	  	 	24%  	 	  	 	26%  	 	  	 	27%  	 	  				 					
									
MMA/OSA/Checking	  	 	72%  	 	  	 	71%  	 	  	 	72%  	 	  	 	70%  	 	  	 	67%  	 	  				 					
									
Brokered	  	 	8%  	 	  	 	6%  	 	  	 	4%  	 	  	 	4%  	 	  	 	6%  	 	  				 					
 
(1)	May include the restricted cash accumulation for retained notes maturing within the following 30 days and returned to Ally on the distribution date	
 
(2)	Includes unencumbered UST, Agency debt, Agency MBS, and highly liquid Corporates	
 
(3)	Excludes retail notes; as of 9/30/2022. Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs.	

3Q 2022  Preliminary Results	  	18	

 
			
ALLY FINANCIAL INC.
NET INTEREST MARGIN

																														
($ in millions)	  	QUARTERLY TRENDS	 	  	CHANGE VS.	 		
									
	Average Balance Details	  	3Q 22	 	  	2Q 22	 	  	1Q 22	 	  	4Q 21	 	  	3Q 21	 	  	2Q 22	 	  	3Q 21	 	
									
Retail Auto Loans	  	  $	82,362	 	  	  $	79,695	 	  	  $	78,224	 	  	  $	77,979	 	  	  $	76,557	 	  	  $	2,667	 	  	    $	5,805	 		
									
Auto Lease (net of dep)	  	 	10,588	 	  	 	10,615	 	  	 	10,878	 	  	 	10,951	 	  	 	10,919	 	  	 	(27)	 	  	 	(331)	 		
									
Dealer Floorplan	  	 	10,886	 	  	 	11,372	 	  	 	11,594	 	  	 	9,539	 	  	 	8,849	 	  	 	(486)	 	  	 	2,037	 		
									
Other Dealer Loans	  	 	5,059	 	  	 	4,839	 	  	 	4,810	 	  	 	4,829	 	  	 	5,038	 	  	 	220	 	  	 	21	 		
									
Corporate Finance	  	 	9,291	 	  	 	8,351	 	  	 	8,045	 	  	 	7,147	 	  	 	6,735	 	  	 	940	 	  	 	2,556	 		
									
Mortgage(1)	  	 	19,762	 	  	 	18,980	 	  	 	18,228	 	  	 	17,533	 	  	 	15,125	 	  	 	782	 	  	 	4,637	 		
									
Consumer Other - Ally Lending(2)	  	 	1,672	 	  	 	1,346	 	  	 	1,100	 	  	 	923	 	  	 	728	 	  	 	326	 	  	 	944	 		
									
Consumer Other - Ally Credit Card (3)	  	 	1,300	 	  	 	1,093	 	  	 	981	 	  	 	309	 	  	 	—	 	  	 	207	 	  	 	1,300	 		
									
Cash and Cash Equivalents	  	 	3,627	 	  	 	3,761	 	  	 	4,027	 	  	 	6,532	 	  	 	13,055	 	  	 	(134)	 	  	 	(9,428)	 		
									
Investment Securities and Other	  	 	34,578	 	  	 	35,050	 	  	 	37,025	 	  	 	37,146	 	  	 	35,532	 	  	 	(472)	 	  	 	(954)	 		
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 		
Total Earning Assets	  	  $	  179,125	 	  	  $	  175,103	 	  	  $	  174,911	 	  	  $	  172,888	 	  	  $	  172,538	 	  	  $	  4,022	 	  	  $	   6,587	 		
Interest Revenue	  	 	2,523	 	  	 	2,231	 	  	 	2,094	 	  	 	2,069	 	  	 	2,038	 	  	 	292	 	  	 	485	 		
									
Unsecured Debt (ex. Core OID balance) (4)	  	  $	10,046	 	  	  $	9,674	 	  	  $	9,976	 	  	  $	10,061	 	  	  $	9,787	 	  	  $	372	 	  	  $	259	 		
									
Secured Debt	  	 	1,374	 	  	 	1,154	 	  	 	1,089	 	  	 	1,331	 	  	 	1,675	 	  	 	220	 	  	 	(301)	 		
									
Deposits (5)	  	 	142,793	 	  	 	139,814	 	  	 	141,557	 	  	 	140,043	 	  	 	139,244	 	  	 	2,979	 	  	 	3,549	 		
									
Other Borrowings	  	 	12,502	 	  	 	11,966	 	  	 	7,203	 	  	 	4,990	 	  	 	4,929	 	  	 	536	 	  	 	7,573	 		
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 		
Total Funding Sources (ex. Core OID balance) (4)	  	  $	166,715	 	  	  $	162,608	 	  	  $	159,826	 	  	  $	156,425	 	  	  $	155,635	 	  	  $	4,107	 	  	  $	11,080	 		
									
Interest Expense (ex. Core OID) (4)	  	 	793	 	  	 	457	 	  	 	391	 	  	 	406	 	  	 	435	 	  	 	336	 	  	 	358	 		
									
Net Financing Revenue (ex. Core OID) (4)	  	  $	1,730	 	  	  $	1,774	 	  	  $	1,703	 	  	  $	1,663	 	  	  $	1,603	 	  	  $	(44)	 	  	  $	127	 		
									
Net Interest Margin (yield details)	  				  				  				  				  				  				  					
									
Retail Auto Loan	  	 	7.29%	 	  	 	6.82%	 	  	 	6.61%	 	  	 	6.61%	 	  	 	6.62%	 	  	 	0.47%	 	  	 	0.67%	 		
									
Retail Auto Loan (excl. hedge impact)	  	 	7.04%	 	  	 	6.85%	 	  	 	6.75%	 	  	 	6.81%	 	  	 	6.84%	 	  	 	0.19%	 	  	 	0.20%	 		
									
Auto Lease (net of dep)	  	 	5.98%	 	  	 	6.66%	 	  	 	6.96%	 	  	 	7.88%	 	  	 	9.21%	 	  	 	(0.68)%	 	  	 	(3.23)%	 		
									
Dealer Floorplan	  	 	5.03%	 	  	 	3.45%	 	  	 	2.97%	 	  	 	2.98%	 	  	 	3.18%	 	  	 	1.58%	 	  	 	1.85%	 		
									
Other Dealer Loans	  	 	4.33%	 	  	 	4.13%	 	  	 	4.17%	 	  	 	4.10%	 	  	 	4.16%	 	  	 	0.20%	 	  	 	0.17%	 		
									
Corporate Finance	  	 	6.30%	 	  	 	5.02%	 	  	 	4.76%	 	  	 	5.15%	 	  	 	5.12%	 	  	 	1.28%	 	  	 	1.18%	 		
									
Mortgage	  	 	3.10%	 	  	 	3.01%	 	  	 	2.94%	 	  	 	2.77%	 	  	 	2.83%	 	  	 	0.09%	 	  	 	0.27%	 		
									
Consumer Other - Ally Lending (2)	  	 	11.04%	 	  	 	11.94%	 	  	 	12.62%	 	  	 	12.89%	 	  	 	13.86%	 	  	 	(0.90)%	 	  	 	(2.82)%	 		
									
Consumer Other - Ally Credit Card (3)	  	 	21.17%	 	  	 	19.71%	 	  	 	18.75%	 	  	 	18.11%	 	  	 	—%	 	  	 	1.46%	 	  	 	21.17%	 		
									
Cash and Cash Equivalents	  	 	1.73%	 	  	 	0.61%	 	  	 	0.15%	 	  	 	0.14%	 	  	 	0.14%	 	  	 	1.12%	 	  	 	1.59%	 		
									
Investment Securities and Other	  	 	2.55%	 	  	 	2.35%	 	  	 	2.09%	 	  	 	1.81%	 	  	 	1.76%	 	  	 	0.20%	 	  	 	0.79%	 		
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 		
Total Earning Assets	  	 	5.59%	 	  	 	5.11%	 	  	 	4.86%	 	  	 	4.75%	 	  	 	4.68%	 	  	 	0.48%	 	  	 	0.91%	 		
									
Unsecured Debt (ex. Core OID & Core OID balance) (4)	  	 	4.99%	 	  	 	5.04%	 	  	 	5.12%	 	  	 	5.02%	 	  	 	5.19%	 	  	 	(0.05)%	 	  	 	(0.20)%	 		
									
Secured Debt	  	 	6.08%	 	  	 	6.61%	 	  	 	6.36%	 	  	 	5.91%	 	  	 	4.29%	 	  	 	(0.53)%	 	  	 	1.79%	 		
									
Deposits (5)	  	 	1.58%	 	  	 	0.76%	 	  	 	0.61%	 	  	 	0.64%	 	  	 	0.70%	 	  	 	0.82%	 	  	 	0.88%	 		
									
Other Borrowings	  	 	2.48%	 	  	 	1.75%	 	  	 	2.11%	 	  	 	2.59%	 	  	 	3.42%	 	  	 	0.73%	 	  	 	(0.94)%	 		
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 		
Total Funding Sources (ex. Core OID & Core OID balance) (4)	  	 	1.89%	 	  	 	1.12%	 	  	 	0.99%	 	  	 	1.03%	 	  	 	1.11%	 	  	 	0.77%	 	  	 	0.78%	 		
									
NIM (as reported)	  	 	3.81%	 	  	 	4.04%	 	  	 	3.93%	 	  	 	3.80%	 	  	 	3.66%	 	  	 	(0.23)%	 	  	 	0.15%	 		
									
NIM (ex. Core OID & Core OID balance) (4)	  	 	3.83%	 	  	 	4.06%	 	  	 	3.95%	 	  	 	3.82%	 	  	 	3.68%	 	  	 	(0.23)%	 	  	 	0.15%	 		
 
 	(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.	

3Q 2022  Preliminary Results	  	19	

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

																					
($ in billions)	  	QUARTERLY TRENDS	
	Mortgage Finance HFI Portfolio	  	        3Q 22        	  	        2Q 22        	  	        1Q 22        	  	        4Q 21        	  	        3Q 21        	
Loan Value	  				  				  				  				  				
						
Gross carry value	  	 $	19.7	 	  	 $	18.9	 	  	 $	18.4	 	  	 $	17.6	 	  	 $	16.1	 	
						
Net carry value	  	 $	19.7	 	  	 $	18.9	 	  	 $	18.4	 	  	 $	17.6	 	  	 $	16.0	 	
						
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%	 	  	 	0.7%	 	  	 	0.6%	 	  	 	0.8%	 	  	 	1.1%	 	
						
% Low/No documentation	  	 	0.0%	 	  	 	0.0%	 	  	 	0.1%	 	  	 	0.1%	 	  	 	0.1%	 	
						
% Non-primary residence	  	 	4.4%	 	  	 	4.1%	 	  	 	4.0%	 	  	 	3.9%	 	  	 	4.3%	 	
						
Refreshed FICO(3)	  	 	780	 	  	 	779	 	  	 	776	 	  	 	776	 	  	 	776	 	
						
Wtd. Avg. LTV/CLTV (4)	  	 	54.2%	 	  	 	53.7%	 	  	 	55.7%	 	  	 	56.9%	 	  	 	57.6%	 	
						
Corporate Other Legacy Mortgage HFI Portfolio	  				  				  				  				  				
Loan Value	  				  				  				  				  				
						
Gross carry value	  	 $	0.3	 	  	 $	0.3	 	  	 $	0.3	 	  	 $	0.4	 	  	 $	0.4	 	
						
Net carry value	  	 $	0.3	 	  	 $	0.3	 	  	 $	0.3	 	  	 $	0.4	 	  	 $	0.4	 	
						
Estimated Pool Characteristics	  				  				  				  				  				
						
% Second lien	  	 	13.3%	 	  	 	13.9%	 	  	 	14.7%	 	  	 	15.0%	 	  	 	15.6%	 	
						
% Interest only	  	 	0.1%	 	  	 	0.1%	 	  	 	0.1%	 	  	 	0.1%	 	  	 	0.2%	 	
						
% 30+ Day delinquent(1)(2)	  	 	5.6%	 	  	 	7.2%	 	  	 	7.1%	 	  	 	7.5%	 	  	 	8.1%	 	
						
% Low/No documentation	  	 	23.4%	 	  	 	23.6%	 	  	 	23.7%	 	  	 	23.4%	 	  	 	23.3%	 	
						
% Non-primary residence	  	 	3.4%	 	  	 	3.3%	 	  	 	3.5%	 	  	 	3.5%	 	  	 	3.6%	 	
						
Refreshed FICO(3)	  	 	743	 	  	 	740	 	  	 	738	 	  	 	735	 	  	 	735	 	
						
Wtd. Avg. LTV/CLTV (4)	  	 	47.6%	 	  	 	49.1%	 	  	 	52.2%	 	  	 	54.2%	 	  	 	56.0%	 	

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.	

3Q 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	 	 	 	    3Q 22    	 	    2Q 22    	 	    1Q 22    	 	    4Q 21    	 	    3Q 21    	 	    2Q 22    	 	    3Q 21    	
									
GAAP net income attributable to common shareholders	 		 	 $	272	 	 	 $	454	 	 	 $	627	 	 	 $	624	 	 	 $	683	 	 	 $	(182	) 	 	 $	(411	) 	
									
Weighted-average common shares outstanding - basic	 		 	 	308,220	 	 	 	322,057	 	 	 	335,678	 	 	 	345,870	 	 	 	359,179	 	 	 	(13,837	) 	 	 	(50,960	) 	
									
Weighted-average common shares outstanding - diluted	 		 	 	310,086	 	 	 	324,027	 	 	 	337,812	 	 	 	348,666	 	 	 	361,855	 	 	 	(13,941	) 	 	 	(51,769	) 	
									
Issued shares outstanding (period-end)	 		 	 	300,335	 	 	 	312,781	 	 	 	327,306	 	 	 	337,941	 	 	 	349,599	 	 	 	(12,446	) 	 	 	(49,264	) 	

Net income per share - basic	 		 	 $	0.88	 	 	 $	1.41	 	 	 $	1.87	 	 	 $	1.80	 	 	 $	1.90	 	 	 $	(0.53	) 	 	 $	(1.02	) 	

Net income per share - diluted	 		 	 $	0.88	 	 	 $	1.40	 	 	 $	1.86	 	 	 $	1.79	 	 	 $	1.89	 	 	 $	(0.52	) 	 	 $	(1.01	) 	

Adjusted Earnings per Share (“Adjusted EPS”)	 		 				 				 				 				 				 				 				
									
Numerator	 		 				 				 				 				 				 				 				
									
GAAP net income attributable to common shareholders	 		 	 $	272	 	 	 $	454	 	 	 $	627	 	 	 $	624	 	 	 $	683	 	 	 $	(182	) 	 	 $	(411	) 	
									
Discontinued operations, net of tax	 		 	 	1	 	 	 	—	 	 	 	—	 	 	 	6	 	 	 	—	 	 	 	1	 	 	 	1	 	
									
Core OID	 		 	 	11	 	 	 	10	 	 	 	10	 	 	 	9	 	 	 	9	 	 	 	—	 	 	 	1	 	
									
Change in the fair value of equity securities	 		 	 	62	 	 	 	136	 	 	 	66	 	 	 	(21	) 	 	 	65	 	 	 	(74	) 	 	 	(2	) 	
									
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)	 		 	 	(20	) 	 	 	(31	) 	 	 	(16	) 	 	 	(20	) 	 	 	(26	) 	 	 	11	 	 	 	6	 	
									
Repositioning	 		 	 	20	 	 	 	—	 	 	 	—	 	 	 	107	 	 	 	52	 	 	 	20	 	 	 	(31	) 	
									
Core net income attributable to common shareholders (1)	 		 	 $	346	 	 	 $	570	 	 	 $	687	 	 	 $	705	 	 	 $	782	 	 	 $	(224	) 	 	 $	(436	) 	
									
Denominator	 		 				 				 				 				 				 				 				
									
Weighted-average common shares outstanding - diluted	 		 	 	310,086	 	 	 	324,027	 	 	 	337,812	 	 	 	348,666	 	 	 	361,855	 	 	 	(13,941	) 	 	 	(51,769	) 	
									
Adjusted EPS (2)	 		 	 $	1.12	 	 	 $	1.76	 	 	 $	2.03	 	 	  $	2.02	 	 	 $	2.16	 	 	 $	(0.64	) 	 	 $	(1.04	) 	
									
Core original issue discount (Core OID) amortization expense (1)	 		 	 $	11	 	 	 $	10	 	 	 $	10	 	 	 $	9	 	 	 $	9	 	 	 $	0	 	 	 $	1	 	
									
Other OID	 		 	 	3	 	 	 	2	 	 	 	3	 	 	 	3	 	 	 	3	 	 	 	—	 	 	 	—	 	

GAAP original issue discount amortization expense	 		 	 $	13	 	 	 $	13	 	 	 $	13	 	 	 $	12	 	 	 $	12	 	 	 $	1	 	 	 $	2	 	

Core outstanding original issue discount balance (Core OID balance) (1)	 		 	 $	(852	) 	 	 $	(863	) 	 	 $	(873	) 	 	 $	(883	) 	 	 $	(900	) 	 	 $	11	 	 	 $	48	 	
									
Other outstanding OID balance	 		 	 	(36	) 	 	 	(39	) 	 	 	(37	) 	 	 	(40	) 	 	 	(29	) 	 	 	3	 	 	 	(7	) 	

GAAP outstanding original issue discount balance	 		 	 $	(888	) 	 	 $	(901	) 	 	 $	(911	) 	 	 $	(923	) 	 	 $	(929	) 	 	 $	13	 	 	 $	41	 	

GAAP net financing revenue	 	[A]	 	 $	1,719	 	 	 $	1,764	 	 	 $	1,693	 	 	 $	1,654	 	 	 $	1,594	 	 	 $	(45	) 	 	 $	125	 	
									
Core OID	 		 	 	11	 	 	 	10	 	 	 	10	 	 	 	9	 	 	 	9	 	 	 	—	 	 	 	1	 	

Net Financing Revenue (ex. Core OID)	 	[B]	 	 $	1,730	 	 	 $	1,774	 	 	 $	1,703	 	 	 $	1,663	 	 	 $	1,603	 	 	 $	(45	) 	 	 $	126	 	

GAAP Other Revenue	 	[C]	 	 $	297	 	 	 $	312	 	 	 $	442	 	 	 $	545	 	 	 $	391	 	 	 $	(15	) 	 	 $	(94	) 	
									
Repositioning	 		 	 	—	 	 	 	—	 	 	 	—	 	 	 	9	 	 	 	52	 	 	 	—	 	 	 	(52	) 	
									
Change in the fair value of equity securities	 		 	 	62	 	 	 	136	 	 	 	66	 	 	 	(21	) 	 	 	65	 	 	 	(74	) 	 	 	(2	) 	

Adjusted Other Revenue	 	[D]	 	 $	359	 	 	 $	448	 	 	 $	508	 	 	 $	533	 	 	 $	507	 	 	 $	(89	) 	 	 $	(148	) 	

GAAP Provision Expense	 		 	 $	438	 	 	 $	304	 	 	 $	167	 	 	 $	210	 	 	 $	76	 	 	 $	134	 	 	 $	362	 	
									
Repositioning	 		 	 	—	 	 	 	—	 	 	 	—	 	 	 	(97	) 	 	 	—	 	 	 	—	 	 	 	—	 	

Adjusted Provision (ex. Repositioning)	 		 	 $	438	 	 	 $	304	 	 	 $	167	 	 	 $	113	 	 	 $	76	 	 	 $	134	 	 	 $	362	 	

GAAP Noninterest expense	 	[E]	 	 $	1,161	 	 	 $	1,138	 	 	 $	1,122	 	 	 $	1,090	 	 	 $	1,002	 	 	 $	23	 	 	 $	159	 	
									
Repositioning and other	 		 	 	(20	) 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	—	 	 	 	(20	) 	 	 	(20	) 	

Adjusted Noninterest Expense	 	[F]	 	 $	1,141	 	 	 $	1,138	 	 	 $	1,122	 	 	 $	1,090	 	 	 $	1,002	 	 	 $	3	 	 	 $	139	 	

Pre-Provision Net Revenue (PPNR)	 	[A]+[C]+[E]	 	 $	855	 	 	 $	938	 	 	 $	1,013	 	 	 $	1,109	 	 	 $	983	 	 	 $	(83	) 	 	 $	(128	) 	
									
Core Pre-Provision Net Revenue (PPNR) (1)	 	[B]+[D]+[F]	 	 $	948	 	 	 $	1,084	 	 	 $	1,088	 	 	 $	1,107	 	 	 $	1,108	 	 	 $	(137	) 	 	 $	(161	) 	
 
(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.

3Q 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	  	3Q 22	 	  	2Q 22	 	  	1Q 22	 	  	4Q 21	 	  	3Q 21	 	    	2Q 22	 	  	3Q 21	 	
									
Numerator	  				  				  				  				  				    				  					
									
GAAP shareholder’s equity	  	 $	12,434 	 	  	 $	13,984 	 	  	 $	15,413 	 	  	 $	17,050 	 	  	 $	17,289 	 	    	 $	(1,550)	 	  	 $	(4,855)	 		
									
Preferred equity	  	 	(2,324)	 	  	 	(2,324)	 	  	 	(2,324)	 	  	 	(2,324)	 	  	 	(2,324)	 	    	 	— 	 	  	 	— 	 		
									
GAAP common shareholder’s equity	  	 $	10,110 	 	  	 $	11,660 	 	  	 $	13,089 	 	  	 $	14,726 	 	  	 $	14,965 	 	    	 $	(1,550)	 	  	 $	(4,855)	 		
									
Goodwill and identifiable intangibles, net of DTLs	  	 	(910)	 	  	 	(920)	 	  	 	(932)	 	  	 	(941)	 	  	 	(369)	 	    	 	11 	 	  	 	(541)	 		

Tangible common equity (1)	  	 	9,200 	 	  	 	10,740 	 	  	 	12,157 	 	  	 	13,785 	 	  	 	14,596 	 	    	 	(1,539)	 	  	 	(5,396)	 		
									
Tax-effected Core OID balance (21% tax rate) (1)	  	 	(673)	 	  	 	(682)	 	  	 	(690)	 	  	 	(698)	 	  	 	(711)	 	    	 	8 	 	  	 	38 	 		
									
Adjusted tangible book value (2)	  	 $	8,527 	 	  	 $	10,058 	 	  	 $	11,468 	 	  	 $	13,087 	 	  	 $	13,885 	 	    	 $	(1,531)	 	  	 $	(5,358)	 		

Denominator	  				  				  				  				  				    				  					
									
Issued shares outstanding (period-end, thousands)	  	 	300,335 	 	  	 	312,781 	 	  	 	327,306 	 	  	 	337,941 	 	  	 	349,599 	 	    	 	(12,446)	 	  	 	(49,264)	 		
									
GAAP shareholder’s equity per share	  	 $	41.40 	 	  	 $	44.71 	 	  	 $	47.09 	 	  	 $	50.45 	 	  	 $	49.45 	 	    	 $	(3.31)	 	  	 $	(8.05)	 		
									
Preferred equity per share	  	 	(7.74)	 	  	 	(7.43)	 	  	 	(7.10)	 	  	 	(6.88)	 	  	 	(6.65)	 	    	 	(0.31)	 	  	 	(1.09)	 		
									
GAAP common shareholder’s equity per share	  	 $	33.66 	 	  	 $	37.28 	 	  	 $	39.99 	 	  	 $	43.58 	 	  	 $	42.81 	 	    	 $	(3.62)	 	  	 $	(9.14)	 		
									
Goodwill and identifiable intangibles, net of DTLs per share	  	 	(3.03)	 	  	 	(2.94)	 	  	 	(2.85)	 	  	 	(2.79)	 	  	 	(1.06)	 	    	 	(0.09)	 	  	 	(1.97)	 		

Tangible common equity per share (1)	  	 	30.63 	 	  	 	34.34 	 	  	 	37.14 	 	  	 	40.79 	 	  	 	41.75 	 	    	 	(3.70)	 	  	 	(11.12)	 		
									
Tax-effected Core OID balance (21% tax rate) per share (1)	  	 	(2.24)	 	  	 	(2.18)	 	  	 	(2.11)	 	  	 	(2.06)	 	  	 	(2.03)	 	    	 	(0.06)	 	  	 	(0.21)	 		

Adjusted tangible book value per share (2)	  	 $	28.39 	 	  	 $	32.16 	 	  	 $	35.04 	 	  	 $	38.73 	 	  	 $	39.72 	 	    	 $	(3.76)	 	  	 $	(11.32)	 		
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	    	 	 	 	  	 	 	 		
(1) Represents a non-GAAP financial measure. See page 25 for methodology and detail.
(2) Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for (1) goodwill and identifiable intangibles, net of DTLs, and (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods.

3Q 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”)	  	3Q 22	  	2Q 22	  	1Q 22	  	4Q 21	  	3Q 21	  	2Q 22	 	  	3Q 21	 	
									
Numerator	  				  				  				  				  				  				  					
									
GAAP net income attributable to common shareholders	  	 $	272	 	  	 $	454	 	  	 $	627	 	  	 $	624	 	  	 $	683	 	  	 $	(182)	 	  	 $	(411)	 		
									
Discontinued operations, net of tax	  	 	1	 	  	 	—	 	  	 	—	 	  	 	6	 	  	 	—	 	  	 	1	 	  	 	1	 		
									
Core OID	  	 	11	 	  	 	10	 	  	 	10	 	  	 	9	 	  	 	9	 	  	 	0	 	  	 	1	 		
									
Change in the fair value of equity securities	  	 	62	 	  	 	136	 	  	 	66	 	  	 	(21)	 	  	 	65	 	  	 	(74)	 	  	 	(2)	 		
									
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)	  	 	(20)	 	  	 	(31)	 	  	 	(16)	 	  	 	(20)	 	  	 	(26)	 	  	 	11	 	  	 	7	 		
									
Repositioning	  	 	20	 	  	 	—	 	  	 	—	 	  	 	107	 	  	 	52	 	  	 	20	 	  	 	(31)	 		
									
Core net income attributable to common shareholders (1)	  	 $	346	 	  	 $	570	 	  	 $	687	 	  	 $	705	 	  	 $	782	 	  	 $	(223)	 	  	 $	(436)	 		
									
Denominator (average,  $millions)	  				  				  				  				  				  				  					
									
GAAP shareholder’s equity	  	$	13,209	 	  	$	14,699	 	  	$	16,232	 	  	$	17,170	 	  	$	17,410	 	  	$	(1,490)	 	  	$	(4,201)	 		
									
Preferred equity	  	 	(2,324)	 	  	 	(2,324)	 	  	 	(2,324)	 	  	 	(2,324)	 	  	 	(2,324)	 	  	 	—	 	  	 	—	 		
									
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)	  	 	(915)	 	  	 	(926)	 	  	 	(937)	 	  	 	(655)	 	  	 	(371)	 	  	 	11	 	  	 	(544)	 		

Tangible common equity (1)	  	 $	9,970	 	  	$	11,449	 	  	$	12,971	 	  	$	14,190	 	  	$	14,714	 	  	$	(1,479)	 	  	$	(4,744)	 		
									
Core OID balance	  	 	(858)	 	  	 	(868)	 	  	 	(878)	 	  	 	(892)	 	  	 	(926)	 	  	 	10	 	  	 	68	 		
									
Net deferred tax asset (“DTA”)	  	 	(1,068)	 	  	 	(758)	 	  	 	(437)	 	  	 	(551)	 	  	 	(866)	 	  	 	(310)	 	  	 	(203)	 		

Normalized common equity	  	 $	8,044	 	  	 $	9,822	 	  	$	11,656	 	  	$	12,747	 	  	$	12,923	 	  	$	(1,778)	 	  	$	(4,879)	 		
									
Core Return on Tangible Common Equity (2)	  	 	17.2%	 	  	 	23.2%	 	  	 	23.6%	 	  	 	22.1%	 	  	 	24.2%	 	  				  					

(1) Represents a non-GAAP measure. See page 25 for methodology and detail.
(2) Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is based on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share.
      1. In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant onetime items, tax-effected Core OID, fair value adjustments (net of tax) related to ASU 2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods..
      2. In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA.

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ALLY FINANCIAL INC.
ADJUSTED EFFICIENCY RATIO RELATED INFORMATION

																																											
($ in millions)	  	QUARTERLY TREND	 	 	 	  	CHANGE VS.	 	 	 	
															
Adjusted Efficiency Ratio Calculation	  	3Q 22	 	 	 	  	2Q 22	 	 	 	  	1Q 22	 	 	 	  	4Q 21	 	 	 	  	3Q 21	 	 	 	  	2Q 22	 	 	 	  	3Q 21	 	 	 	
															
Numerator	  				 		  				 		  				 		  				 		  				 		  				 		  				 		
															
GAAP Noninterest expense	  	$	 1,161	 	 		  	$	 1,138	 	 		  	$	 1,122	 	 		  	$	 1,090	 	 		  	$	 1,002	 	 		  	$	23	 	 		  	$	 159	 	 		
															
Rep and warrant expense	  	 	—	 	 		  	 	—	 	 		  	 	—	 	 		  	 	—	 	 		  	 	—	 	 		  	 	—	 	 		  	 	—	 	 		
															
Insurance expense	  	 	(290	) 	 		  	 	(300	) 	 		  	 	(274	) 	 		  	 	(263	) 	 		  	 	(273	) 	 		  	 	10	 	 		  	 	(17	) 	 		
															
Repositioning	  	 	(20	) 	 		  	 	—	 	 		  	 	—	 	 		  	 	—	 	 		  	 	—	 	 		  	 	(20	) 	 		  	 	(20	) 	 		
															
Adjusted noninterest expense for the efficiency ratio	  	$	851	 	 		  	$	838	 	 		  	$	848	 	 		  	$	827	 	 		  	$	729	 	 		  	$	13	 	 		  	$	122	 	 		
															
Denominator	  				 		  				 		  				 		  				 		  				 		  				 		  				 		
															
Total net revenue	  	$	 2,016	 	 		  	$	  2,076	 	 		  	$	  2,135	 	 		  	$	  2,199	 	 		  	$	  1,985	 	 		  	$	(60	) 	 		  	$	31	 	 		
															
Core OID	  	 	11	 	 		  	 	10	 	 		  	 	10	 	 		  	 	9	 	 		  	 	9	 	 		  	 	0	 	 		  	 	1	 	 		
															
Insurance revenue	  	 	(260	) 	 		  	 	(178	) 	 		  	 	(287	) 	 		  	 	(354	) 	 		  	 	(297	) 	 		  	 	(82	) 	 		  	 	37	 	 		
															
Repositioning	  	 	—	 	 		  	 	—	 	 		  	 	—	 	 		  	 	9	 	 		  	 	52	 	 		  	 	—	 	 		  	 	(52	) 	 		
															
Adjusted net revenue for the efficiency ratio	  	$	1,767	 	 		  	$	1,908	 	 		  	$	1,858	 	 		  	$	1,864	 	 		  	$	1,749	 	 		  	$	(142	) 	 		  	$	    18	 	 		
															
Adjusted Efficiency Ratio (1)	  	 	48.2	% 	 		  	 	43.9	% 	 		  	 	45.6	% 	 		  	 	44.4	% 	 		  	 	41.7	% 	 		  				 		  				 		

(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 onetime 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.

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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.

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