Exhibit 99.3

THIRD QUARTER 2019

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 various financial and operating metrics and statements about 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, 2018, 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 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.

3Q 2019 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		18
Net Interest Margin and Deposits		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 2019 Preliminary Results 3

ALLY FINANCIAL INC. CONSOLIDATED FINANCIAL HIGHLIGHTS

($ in millions, shares in thousands)

				QUARTERLY TRENDS												CHANGE VS.
Selected Income Statement Data	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Net financing revenue (ex. Core OID) (1)	$	1,195		$	1,164		$	1,139		$	1,163		$	1,129		$	31		$	67
Core OID		(7	)		(7	)		(7	)		(23	)		(22	)		(0	)		14
Net financing revenue (as reported)		1,188			1,157			1,132			1,140			1,107			31			81
Other revenue (ex. change in the fair value of equity securities) (2)		424			393			396			393			392			31			32
Change in the fair value of equity securities (3)		(11	)		2			70			(95	)		6			(13	)		(17	)
Other revenue (as reported)		413			395			466			298			398			18			15
Provision for loan losses		263			177			282			266			233			86			30
Total noninterest expense (4)		838			881			830			804			807			(43	)		31
Pre-tax income from continuing operations		500			494			486			368			465			6			35
Income tax (benefit) / expense		119			(90	)		111			79			91			209			28
(Loss) / income from discontinued operations, net of tax		-			(2	)		(1	)		1			-			2			-
Net income attributable to common shareholders	$	381		$	582		$	374		$	290		$	374		$	(201	)	$	7
Selected Balance Sheet Data (Period-End)
Total assets	$	181,485		$	180,448		$	180,117		$	178,869		$	173,101		$	1,037		$	8,384
Consumer loans		90,081			90,698			89,211			87,240			86,501			(617	)		3,580
Commercial loans		38,528			38,512			40,844			42,686			40,104			16			(1,576	)
Allowance for loan losses		(1,277	)		(1,282	)		(1,288	)		(1,242	)		(1,248	)		5			(29	)
Deposits		119,230			116,325			113,299			106,178			101,379			2,905			17,851
Total equity		14,450			14,316			13,699			13,268			13,085			134			1,365
Common Share Count
Weighted average basic (5)		390,205			398,100			404,129			411,931			422,187			(7,895	)		(31,982	)
Weighted average diluted (5)		392,604			399,916			405,959			414,750			424,784			(7,312	)		(32,180	)
Issued shares outstanding (period-end)		383,523			392,775			399,761			404,900			416,591			(9,252	)		(33,067	)
Per Common Share Data
Earnings per share (basic) (5)	$	0.98		$	1.46		$	0.93		$	0.70		$	0.89		$	(0.49	)	$	0.09
Earnings per share (diluted) (5)		0.97			1.46			0.92			0.70			0.88			(0.48	)		0.09
Adjusted earnings per share (6)		1.01			0.97			0.80			0.92			0.91			0.04			0.10
Book value per share		37.7			36.4			34.3			32.8			31.4			1.2			6.3
Tangible book value per share (7)		37.0			35.7			33.6			32.1			30.7			1.2			6.2
Adjusted tangible book value per share (7)		34.7			33.6			31.4			29.9			28.6			1.2			6.1
Select Financial Ratios
Net interest margin (as reported)		2.70%			2.66%			2.67%			2.66%			2.67%
Net interest margin (ex. Core OID) (8)		2.72%			2.67%			2.69%			2.72%			2.72%
Cost of funds		2.66%			2.74%			2.70%			2.60%			2.45%
Cost of funds (ex. Core OID) (8)		2.62%			2.70%			2.66%			2.52%			2.38%
Efficiency Ratio (9)		52.3%			56.8%			51.9%			55.9%			53.6%
Adjusted efficiency ratio (8)(9)		45.3%			46.1%			48.9%			46.9%			46.0%
Return on average assets (10)		0.8%			1.3%			0.8%			0.7%			0.9%
Return on average total equity (10)		10.6%			16.6%			11.1%			8.8%			11.4%
Return on average tangible common equity (10)		10.8%			17.0%			11.3%			9.0%			11.7%
Core ROTCE (11)		12.3%			12.4%			10.9%			13.4%			13.7%
Capital Ratios (12)
Common Equity Tier 1 (CET1) capital ratio		9.6%			9.5%			9.3%			9.1%			9.4%
Tier 1 capital ratio		11.2%			11.2%			11.0%			10.8%			11.1%
Total capital ratio		12.8%			12.7%			12.5%			12.3%			12.7%
Tier 1 leverage ratio		9.1%			9.0%			9.0%			9.0%			9.2%

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

(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. For Non-GAAP calculation methodology and details see page 21.

(3) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. 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.

(4) 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.

(5) Includes shares related to share-based compensation that vested but were not yet issued.

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

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

(8) Represents a non-GAAP financial measure. Excludes Core OID. For more details refer to page 21.

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

(10) Return metrics are annualized.

(11) Return metrics are annualized. Represents a non-GAAP financial measure. For more details refer to page 23.

(12) Basel III rules became effective on January 1, 2015, subject to transition provisions primarily related to deductions and adjustments impacting CET1 capital and Tier 1 capital.

3Q 2019 Preliminary Results 4

ALLY FINANCIAL INC. CONSOLIDATED INCOME STATEMENT

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	1,859		$	1,860		$	1,807		$	1,790		$	1,708		$	(1	)	$	151
Interest on loans held-for-sale		8			3			2			5			4			5			4
Total interest and dividends on investment securities		221			227			222			211			182			(6	)		39
Interest-bearing cash		19			21			23			22			18			(2	)		1
Other earning assets		16			17			18			15			16			(1	)		-
Operating leases		368			363			361			365			368			5			-
Total financing revenue and other interest income		2,491			2,491			2,433			2,408			2,296			-			195
Interest expense
Interest on deposits		658			651			592			523			462			7			196
Interest on short-term borrowings		33			37			44			48			29			(4	)		4
Interest on long-term debt		378			407			419			457			451			(29	)		(73	)
Total interest expense		1,069			1,095			1,055			1,028			942			(26	)		127
Depreciation expense on operating lease assets		234			239			246			240			247			(5	)		(13	)
Net financing revenue (as reported)	$	1,188		$	1,157		$	1,132		$	1,140		$	1,107		$	31		$	81
Other revenue
Servicing fees		4			5			6			6			6			(1	)		(2	)
Insurance premiums and service revenue earned		280			261			261			269			258			19			22
Gain on mortgage and automotive loans, net		10			2			10			6			17			8			(7	)
Other gain/loss on investments, net		27			39			108			(87	)		22			(12	)		5
Other income, net of losses		92			88			81			104			95			4			(3	)
Total other revenue		413			395			466			298			398			18			15
Total net revenue		1,601			1,552			1,598			1,438			1,505			49			96
Provision for loan losses		263			177			282			266			233			86			30
Noninterest expense
Compensation and benefits expense		296			296			318			283			274			-			22
Insurance losses and loss adjustment expenses		74			127			59			54			77			(53	)		(3	)
Other operating expenses		468			458			453			467			456			10			12
Total noninterest expense		838			881			830			804			807			(43	)		31
Pre-tax income from continuing operations	$	500		$	494		$	486		$	368		$	465		$	6		$	35
Income tax (benefit) / expense from continuing operations		119			(90	)		111			79			91			209			28
Net income from continuing operations		381			584			375			289			374			(203	)		7
Income / (loss) from discontinued operations, net of tax		-			(2	)		(1	)		1			-			2			-
Net income	$	381		$	582		$	374		$	290		$	374		$	(201	)	$	7
Core Pre-Tax Income Walk
Net financing revenue (ex. Core OID) (1)	$	1,195		$	1,164		$	1,139		$	1,163		$	1,129		$	31		$	67
Adjusted other revenue (2)		424			393			396			393			392			31			32
Provision for loan losses		263			177			282			266			233			86			30
Noninterest expense		838			881			830			804			807			(43	)		31
Core pre-tax income (3)	$	519		$	499		$	423		$	486		$	481		$	20		$	38
Core OID		(7	)		(7	)		(7	)		(23	)		(22	)		(0	)		14
Change in the fair value of equity securities (4)		(11	)		2			70			(95	)		6			(13	)		(17	)
Pre-tax income from continuing operations	$	500		$	494		$	486		$	368		$	465		$	6		$	35

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

(2) Represents 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. For more details refer to page 21.

(3) 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 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity. 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.

(4) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. 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.

3Q 2019 Preliminary Results 5

ALLY FINANCIAL INC. CONSOLIDATED PERIOD-END BALANCE SHEET

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Assets
Cash and cash equivalents
Noninterest-bearing	$	723		$	659		$	946		$	810		$	802		$	64		$	(79	)
Interest-bearing		2,894			2,904			3,011			3,727			2,970			(10	)		(76	)
Total cash and cash equivalents		3,617			3,563			3,957			4,537			3,772			54			(155	)
Investment securities (1)		32,572			31,740			30,553			28,438			26,882			832			5,690
Loans held-for-sale, net		1,000			275			107			314			425			725			575
Finance receivables and loans		128,609			129,210			130,055			129,926			126,605			(601	)		2,004
Allowance for loan losses		(1,277	)		(1,282	)		(1,288	)		(1,242	)		(1,248	)		5			(29	)
Total finance receivables and loans, net		127,332			127,928			128,767			128,684			125,357			(596	)		1,975
Investment in operating leases, net		8,653			8,407			8,339			8,417			8,578			246			75
Premiums receivables and other insurance assets		2,521			2,460			2,401			2,326			2,291			61			230
Other assets		5,790			6,075			5,993			6,153			5,796			(285	)		(6	)
Total assets	$	181,485		$	180,448		$	180,117		$	178,869		$	173,101		$	1,037		$	8,384
Liabilities
Deposit liabilities
Noninterest-bearing	$	156		$	162		$	141		$	142		$	180		$	(6	)	$	(24	)
Interest-bearing		119,074			116,163			113,158			106,036			101,199			2,911			17,875
Total deposit liabilities		119,230			116,325			113,299			106,178			101,379			2,905			17,851
Short-term borrowings		5,335			6,519			6,115			9,987			7,338			(1,184	)		(2,003	)
Long-term debt		35,730			37,466			41,490			44,193			45,542			(1,736	)		(9,812	)
Interest payable		894			744			696			523			712			150			182
Unearned insurance premiums and service revenue		3,246			3,171			3,096			3,044			3,020			75			226
Accrued expense and other liabilities		2,600			1,907			1,722			1,676			2,025			693			575
Total liabilities	$	167,035		$	166,132		$	166,418		$	165,601		$	160,016		$	903		$	7,019
Equity
Common stock and paid-in capital (2)	$	18,628		$	18,914		$	19,119		$	19,296		$	19,582		$	(286	)	$	(954	)
Accumulated deficit		(4,368	)		(4,682	)		(5,195	)		(5,489	)		(5,716	)		314			1,348
Accumulated other comprehensive (loss) / income		190			84			(225	)		(539	)		(781	)		106			971
Total equity		14,450			14,316			13,699			13,268			13,085			134			1,365
Total liabilities and equity	$	181,485		$	180,448		$	180,117		$	178,869		$	173,101		$	1,037		$	8,384

(1) Includes held-to-maturity securities.

(2) Includes Treasury stock.

3Q 2019 Preliminary Results 6

ALLY FINANCIAL INC. CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Assets
Interest-bearing cash and cash equivalents	$	3,539		$	3,713		$	4,212		$	4,311		$	3,159		$	(174	)	$	380
Investment securities		32,708			32,446			30,555			28,926			27,313			262			5,395
Loans held-for-sale, net		745			191			190			394			318			554			427
Total finance receivables and loans, net (2)		128,799			129,950			128,663			127,681			124,986			(1,151	)		3,813
Investment in operating leases, net		8,525			8,370			8,389			8,516			8,634			155			(109	)
Total interest earning assets		174,316			174,670			172,009			169,828			164,410			(354	)		9,906
Noninterest-bearing cash and cash equivalents		391			544			445			432			502			(153	)		(111	)
Other assets		7,012			6,722			6,558			6,412			7,331			290			(319	)
Allowance for loan losses		(1,287	)		(1,284	)		(1,248	)		(1,247	)		(1,260	)		(3	)		(27	)
Total assets	$	180,432		$	180,652		$	177,764		$	175,425		$	170,983		$	(220	)	$	9,449
Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	99,874		$	96,855		$	91,881		$	86,897		$	83,034		$	3,020		$	16,840
Other interest-bearing deposit liabilities (3)		17,615			17,402			17,291			16,763			16,781			212			834
Total Interest-bearing deposit liabilities		117,489			114,257			109,172			103,660			99,815			3,232			17,674
Short-term borrowings		5,550			5,887			7,054			8,082			5,531			(337	)		19
Long-term debt (4)		36,395			40,222			42,396			45,257			46,967			(3,827	)		(10,572	)
Total interest-bearing liabilities (4)		159,434			160,366			158,622			156,999			152,313			(932	)		7,121
Noninterest-bearing deposit liabilities		149			135			137			142			149			14			-
Other liabilities		6,468			6,357			5,660			5,330			5,388			111			1,080
Total liabilities	$	166,051		$	166,858		$	164,419		$	162,471		$	157,850		$	(807	)	$	8,201
Equity
Total equity	$	14,381		$	13,794		$	13,345		$	12,954		$	13,133		$	587		$	1,248
Total liabilities and equity	$	180,432		$	180,652		$	177,764		$	175,425		$	170,983		$	(220	)	$	9,449

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

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

(3) Includes brokered (inclusive of sweep deposits) and other deposits (inclusive of mortgage escrow, and other deposits).

(4) Includes average Core OID balance of $1,075 million in 3Q 19, $1,082 million in 2Q 19, $1,089 million in 1Q 19, $1,104 million in 4Q 18, and $1,126 million in 3Q 18.

3Q 2019 Preliminary Results 7

ALLY FINANCIAL INC. SEGMENT HIGHLIGHTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Pre-tax Income / (Loss)
Automotive Finance	$	429		$	459		$	329		$	335		$	383		$	(30	)	$	46
Insurance		56			-			145			(13	)		55			56			1
Dealer Financial Services		485			459			474			322			438			26			47
Corporate Finance		44			46			13			21			36			(2	)		8
Mortgage Finance		11			14			13			15			8			(3	)		3
Corporate and Other (1)		(40	)		(25	)		(14	)		10			(17	)		(15	)		(23	)
Pre-tax income from continuing operations	$	500		$	494		$	486		$	368		$	465		$	6		$	35
Core OID (2)		7			7			7			23			22			0			(14	)
Change in the fair value of equity securities (3)		11			(2	)		(70	)		95			(6	)		13			17
Core pre-tax income (4)	$	519		$	499		$	423		$	486		$	481		$	20		$	38

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

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

(3) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. 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.

(4) 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 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity. 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.

3Q 2019 Preliminary Results 8

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Net financing revenue
Consumer	$	1,227		$	1,184		$	1,130		$	1,120		$	1,097		$	43		$	130
Commercial		385			412			422			422			381			(27	)		4
Loans held for sale		-			-			1			2			1			-			(1	)
Operating leases		368			363			361			365			368			5			-
Other interest income		3			3			1			2			2			-			1
Total financing revenue and other interest income		1,983			1,962			1,915			1,911			1,849			21			134
Interest expense		671			701			689			692			646			(30	)		25
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		262			261			262			268			274			2			(12	)
Remarketing gains		28			23			15			28			27			5			1
Total depreciation expense on operating lease assets		234			239			246			240			247			(5	)		(13	)
Net financing revenue		1,078			1,022			980			979			956			56			122
Other revenue
Servicing fees		3			4			5			6			6			(1	)		(3	)
Gain/(loss) on automotive loans, net		-			-			8			4			18			-			(18	)
Other income		57			57			56			50			56			(0	)		1
Total other revenue		59			61			68			60			80			(2	)		(21	)
Total net revenue		1,137			1,083			1,048			1,039			1,036			54			101
Provision for loan losses		265			180			262			262			229			85			36
Noninterest expense
Compensation and benefits		128			127			136			124			120			1			8
Other operating expenses		315			317			321			318			304			(2	)		11
Total noninterest expense		443			444			457			442			424			(1	)		19
Pre-tax Income	$	429		$	459		$	329		$	335		$	383		$	(30	)	$	46
Memo: Net lease revenue
Operating lease revenue	$	368		$	363		$	361		$	365		$	368		$	5		$	-
Depreciation expense on operating lease assets (ex. remarketing)		262			261			262			268			274			2			(12	)
Remarketing gains (losses), net of repo valuation		28			23			15			28			27			5			1
Total depreciation expense on operating lease assets		234			239			246			240			247			(5	)		(13	)
Net lease revenue	$	134		$	124		$	115		$	125		$	121		$	10		$	13
Balance Sheet (Period-End)
Cash, trading and investment securities	$	23		$	23		$	23		$	23		$	23		$	-		$	-
Consumer loans		72,894			72,746			71,490			70,515			70,048			148			2,846
Commercial loans		33,330			33,575			35,726			38,134			35,881			(245	)		(2,551	)
Allowance for loan losses		(1,156	)		(1,146	)		(1,138	)		(1,111	)		(1,107	)		(10	)		(49	)
Total finance receivables and loans, net		105,068			105,175			106,078			107,538			104,822			(107	)		246
Investment in operating leases, net		8,653			8,407			8,339			8,417			8,578			246			75
Other assets		1,352			1,350			1,349			1,326			1,252			2			100
Total assets	$	115,096		$	114,955		$	115,789		$	117,304		$	114,675		$	141		$	421

3Q 2019 Preliminary Results 9

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - KEY STATISTICS

	QUARTERLY TRENDS										CHANGE VS.
	3Q 19		2Q 19		1Q 19		4Q 18		3Q 18		2Q 19			3Q 18
U.S. Consumer Originations (1) ($ in billions)
Retail standard - new vehicle GM	$	1.3	$	1.2	$	1.0	$	1.1	$	0.9	$	0.1		$	0.3
Retail standard - new vehicle Chrysler		0.9		0.9		0.8		0.8		0.8		(0.0	)		0.1
Retail standard - new vehicle Growth		1.2		1.3		1.2		1.1		1.0		(0.2	)		0.1
Used vehicle		4.6		5.3		5.2		4.3		4.3		(0.6	)		0.3
Lease		1.3		1.1		0.9		0.8		1.0		0.2			0.3
Retail subvented		0.1		0.1		0.1		0.1		0.1		(0.0	)		(0.1	)
Total originations	$	9.3	$	9.7	$	9.2	$	8.2	$	8.1	$	(0.5	)	$	1.1
U.S. Consumer Originations - FICO Score
Super Prime	$	2.2	$	2.2	$	2.1	$	2.0	$	2.0	$	(0.0	)	$	0.3
Prime		3.4		3.6		3.3		3.0		3.0		(0.2	)		0.5
Prime/Near		2.0		2.1		2.1		1.8		1.9		(0.1	)		0.1
Non Prime		0.9		1.0		0.9		0.7		0.7		(0.1	)		0.2
Sub Prime		0.1		0.1		0.1		0.1		0.1		(0.1	)		0.0
Commercial Services Group (2)		0.7		0.7		0.7		0.6		0.5		(0.1	)		0.1
Total originations	$	9.3	$	9.7	$	9.2	$	8.2	$	8.1	$	(0.5	)	$	1.1
U.S. Market
Light vehicle sales (SAAR - units in millions)		17.0		17.0		16.9		17.5		16.9		(0.0	)		0.1
Light vehicle sales (quarterly - units in millions)		4.3		4.4		4.0		4.4		4.3		(0.1	)		0.0
GM market share		17.2%		16.9%		16.6%		18.0%		16.2%
Chrysler market share		13.1%		13.5%		12.4%		12.8%		13.2%
Ally U.S. Consumer Penetration
GM		5.7%		5.6%		5.7%		4.6%		5.0%
Chrysler		12.1%		11.1%		12.1%		10.7%		10.3%
Ally U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings	$	27.7	$	27.9	$	30.1	$	32.3	$	29.6	$	(0.2	)	$	(1.9	)
Dealer loans and other		5.6		5.6		5.7		5.8		6.2		(0.0	)		(0.6	)
Total Commercial outstandings	$	33.3	$	33.6	$	35.7	$	38.1	$	35.9	$	(0.2	)	$	(2.5	)
U.S. Off-Lease Remarketing
Off-lease vehicles terminated - on-balance sheet (# in units)		29,985		29,267		26,030		25,706		29,018		718			967
Average gain / (loss) per vehicle	$	944	$	776	$	573	$	1,089	$	944	$	168		$	(1	)
Total gain / (loss) ($ in millions)	$	28	$	23	$	15	$	28	$	27	$	6		$	1

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

(2) Commercial Services Group (CSG) are business customers. Average annualized credit losses of 40-45 bps on CSG loans from 2016 through 3Q19.

3Q 2019 Preliminary Results 10

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

($ in millions)

	QUARTERLY TRENDS													CHANGE VS.
Income Statement (GAAP View)	3Q 19			2Q 19			1Q 19		4Q 18			3Q 18		2Q 19			3Q 18
Net financing revenue
Interest and dividends on investment securities	$	28		$	29		$	27	$	30		$	29	$	(1	)	$	(1	)
Interest bearing cash		6			5			4		3			2		1			4
Total financing revenue and other interest revenue		34			34			31		33			31		-			3
Interest expense		20			19			19		18			17		1			3
Net financing revenue		14			15			12		15			14		(1	)		-
Other revenue
Insurance premiums and service revenue earned		280			261			261		269			258		19			22
Other gain / (loss) on investments, net		6			23			95		(84	)		22		(17	)		(16	)
Other income, net of losses		3			2			4		2			2		1			1
Total other revenue		289			286			360		187			282		3			7
Total net revenue		303			301			372		202			296		2			7
Noninterest expense
Compensation and benefits expense		19			20			21		18			18		(1	)		1
Insurance losses and loss adjustment expenses		74			127			59		54			77		(53	)		(3	)
Other operating expenses		154			154			147		143			146		-			8
Total noninterest expense		247			301			227		215			241		(54	)		6
Pre-tax Income / (Loss)	$	56		$	-		$	145	$	(13	)	$	55	$	56		$	1
Memo: Income Statement (Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	280		$	261		$	261	$	269		$	258	$	19		$	22
Investment income (adjusted) (1)		30			34			42		22			29		(4	)		0
Other income		3			2			4		2			2		1			1
Total insurance premiums and other income		313			297			307		293			289		16			23
Expense
Insurance losses and loss adjustment expenses		74			127			59		54			77		(53	)		(3	)
Acquisition and underwriting expenses
Compensation and benefit expense		19			20			21		18			18		(1	)		1
Insurance commission expense		120			117			114		108			113		3			7
Other expense		34			37			33		35			33		(3	)		1
Total acquisition and underwriting expense		173			174			168		161			164		(1	)		9
Total expense		247			301			227		215			241		(54	)		6
Core pre-tax income / (loss) (1)		66			(4	)		80		78			48		70			17
Change in the fair value of equity securities (1)		(10	)		4			65		(91	)		7		(14	)		(16	)
Income / (Loss) before income tax expense	$	56		$	-		$	145	$	(13	)	$	55	$	56		$	1
Balance Sheet (Period-End)
Cash, trading and investment securities	$	5,713		$	5,538		$	5,512	$	5,092		$	5,248	$	175		$	465
Premiums receivable and other insurance assets		2,539			2,478			2,420		2,347			2,308		61			231
Other assets		226			225			247		295			220		1			6
Total assets	$	8,478		$	8,241		$	8,179	$	7,734		$	7,776	$	237		$	702
Key Statistics
Total written premiums and revenue (2)	$	357		$	314		$	305	$	298		$	323	$	43		$	34
Loss ratio (3)		26.1%			48.5%			22.2%		20.1%			29.4%
Underwriting expense ratio (4)		61.4%			65.9%			63.5%		59.4%			63.1%
Combined ratio		87.5%			114.4%			85.7%		79.5%			92.6%

(1) Represents 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.

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

(3) 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.

(4) 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 2019 Preliminary Results 11

ALLY FINANCIAL INC. MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Net financing revenue
Total financing revenue and other interest income	$	144		$	150		$	146		$	138		$	126		$	(6	)	$	18
Interest expense		105			104			96			90			82			1			23
Net financing revenue		39			46			50			48			44			(7	)		(5	)
Gain on mortgage loans, net		10			2			2			1			2			8			8
Other income, net of losses		-			2			-			1			-			(2	)		-
Total other revenue		10			4			2			2			2			6			8
Total net revenue		49			50			52			50			46			(1	)		3
Provision for loan losses		-			-			2			(3	)		2			-			(2	)
Noninterest expense
Compensation and benefits expense		7			9			8			8			8			(2	)		(1	)
Other operating expense		31			27			29			30			28			4			3
Total noninterest expense		38			36			37			38			36			2			2
Pre-tax Income	$	11		$	14		$	13		$	15		$	8		$	(3	)	$	3
Balance Sheet (Period-End)
Finance receivables and loans, net:
Consumer loans	$	15,782		$	16,485		$	16,225		$	15,155		$	14,840		$	(703	)	$	942
Allowance for loan losses		(17	)		(18	)		(18	)		(16	)		(20	)		1			3
Total finance receivables and loans, net		15,765			16,467			16,207			15,139			14,820			(702	)		945
Other assets		818			117			94			72			76			701			742
Total assets	$	16,583		$	16,584		$	16,301		$	15,211		$	14,896		$	(1	)	$	1,687

3Q 2019 Preliminary Results 12

ALLY FINANCIAL INC. CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Net financing revenue
Total financing revenue and other interest income	$	93		$	97		$	90		$	86		$	82		$	(4	)	$	11
Interest expense		33			36			36			35			32			(3	)		1
Net financing revenue		60			61			54			51			50			(1	)		10
Total other revenue (adjusted) (1)		10			12			7			6			14			(1	)		(4	)
Total net revenue		70			73			61			57			64			(2	)		6
Provision for loan losses		3			3			23			10			8			-			(5	)
Noninterest expense
Compensation and benefits expense		13			13			19			13			13			-			-
Other operating expense		9			9			10			9			7			-			2
Total noninterest expense		22			22			29			22			20			-			2
Core pre-tax income (1)		45			48			9			25			36			(2	)		9
Change in the fair value of equity securities (2)		(1	)		(2	)		4			(4	)		(0	)		0			(1	)
Pre-tax Income	$	44		$	46		$	13		$	21		$	36		$	(2	)	$	8
Balance Sheet (Period-End)
Cash, trading and investment securities	$	8		$	9		$	12		$	7		$	11		$	(1	)	$	(3	)
Loans held for sale		240			195			24			47			112			45			128
Commercial loans		5,033			4,795			5,001			4,636			4,356			238			677
Allowance for loan losses		(75	)		(87	)		(96	)		(77	)		(76	)		12			1
Total finance receivables and loans, net		4,958			4,708			4,905			4,559			4,280			250			678
Other assets		69			68			65			57			56			1			13
Total assets	$	5,275		$	4,980		$	5,006		$	4,670		$	4,459		$	295		$	816

(1) Represents 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. See page 21 for more details.

(2) 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.

3Q 2019 Preliminary Results 13

ALLY FINANCIAL INC. CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Net financing revenue
Total financing revenue and other interest income	$	237		$	248		$	251		$	240		$	208		$	(11	)	$	29
Interest expense
Core original issue discount amortization		7			7			7			23			22			0			(14	)
Other interest expense		233			228			208			170			143			5			89
Total interest expense		240			235			215			193			165			5			75
Net financing (loss) / revenue		(3	)		13			36			47			43			(16	)		(46	)
Other revenue
Other gain on investments, net		22			14			9			-			1			8			21
Other income, net of losses (1)		24			20			16			47			19			4			5
Total other revenue		46			34			25			47			20			12			26
Total net revenue		43			47			61			94			63			(4	)		(20	)
Provision for loan losses		(5	)		(6	)		(5	)		(3	)		(6	)		1			1
Noninterest expense
Compensation and benefits expense		129			127			134			120			115			2			14
Other operating expense (2)		(41	)		(49	)		(54	)		(33	)		(29	)		8			(12	)
Total noninterest expense		88			78			80			87			86			10			2
Pre-tax (loss) / income	$	(40	)	$	(25	)	$	(14	)	$	10		$	(17	)	$	(15	)	$	(23	)
Balance Sheet (Period-End)
Cash, trading and investment securities	$	30,445		$	29,733		$	28,963		$	27,853		$	25,372		$	712		$	5,073
Loans held-for-sale		67			58			50			49			45			9			22
Consumer loans		1,405			1,467			1,496			1,570			1,613			(62	)		(208	)
Commercial loans (3)		165			142			135			126			122			23			43
Allowance for loan losses		(29	)		(31	)		(36	)		(38	)		(45	)		2			16
Total finance receivables and loans, net		1,541			1,578			1,595			1,658			1,690			(37	)		(149	)
Other assets		4,000			4,319			4,234			4,390			4,188			(319	)		(188	)
Total assets	$	36,053		$	35,688		$	34,842		$	33,950		$	31,295		$	365		$	4,758
Core OID Amortization Schedule (4)	2019			2020			2021			2022			2023 & After
Remaining Core OID amortization expense	$	8		$	34		$	39		$	45			Avg = $52/yr

(1) Includes gain/(loss) on mortgage and automotive loans as well as Ally Invest fee-based revenue.

(2) Other operating expenses includes corporate overhead allocated to the other business segments. Amounts of corporate overhead allocated were $225 million for 3Q19, $219 million for 2Q19, $229 million for 1Q19, $220 million for 4Q18 and $208 million for 3Q18. The receiving business segment records the allocation of corporate overhead expense within other operating expenses.

(3) Includes intercompany.

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

3Q 2019 Preliminary Results 14

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION

($ in millions)

	QUARTERLY TRENDS										CHANGE VS.
Asset Quality - Consolidated (1)	3Q 19		2Q 19		1Q 19		4Q 18		3Q 18		2Q 19			3Q 18
Ending loan balance	$	128,609	$	129,210	$	130,055	$	129,926	$	126,605	$	(601	)	$	2,004
30+ Accruing DPD	$	2,561	$	2,227	$	1,920	$	2,598	$	2,235	$	334		$	326
30+ Accruing DPD%		1.99%		1.72%		1.48%		2.00%		1.76%
Non-performing loans (NPLs)	$	929	$	903	$	987	$	1,092	$	903	$	26		$	26
Net charge-offs (NCOs)	$	267	$	182	$	237	$	271	$	235	$	85		$	32
Net charge-off rate (2)		0.83%		0.56%		0.73%		0.85%		0.75%
Provision for loan losses	$	263	$	177	$	282	$	266	$	233	$	86		$	30
Allowance for loan losses (ALLL)	$	1,277	$	1,282	$	1,288	$	1,242	$	1,248	$	(5	)	$	29
ALLL as % of Loans (3) (4)		0.99%		0.99%		0.99%		0.96%		0.99%
ALLL as % of NPLs (3)		137%		142%		130%		114%		138%
ALLL as % of NCOs (3)		119%		176%		136%		115%		133%
US Auto Delinquencies - HFI Retail Contract $‘s (5)
Delinquent contract $	$	2,428	$	2,113	$	1,833	$	2,501	$	2,139	$	315		$	289
% of retail contract $outstanding		3.32%		2.90%		2.56%		3.55%		3.06%
U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract $‘s
Net charge-offs	$	253	$	172	$	234	$	259	$	233	$	81		$	20
% of avg. HFI assets (2)		1.38%		0.95%		1.32%		1.48%		1.32%
U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract $‘s
Net charge-offs	$	1	$	1	$	0	$	0	$	3	$	-		$	(2	)
% of avg. HFI assets (2)		0.02%		0.01%		0.00%		0.00%		0.04%

(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 $176 million of fair value adjustment for loans in hedge accounting relationships in 3Q19, $153 million in 2Q19, $63 million in 1Q19, $24 million in 4Q18, ($52) million in 3Q18 and ($40) million in 2Q18.

(5) Dollar amount of accruing contracts greater than 30 days past due

3Q 2019 Preliminary Results 15

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION, CONTINUED

($ in millions)

CONTINUING OPERATIONS

Automotive Finance (1)	QUARTERLY TRENDS										CHANGE VS.
Consumer	3Q 19		2Q 19		1Q 19		4Q 18		3Q 18		2Q 19			3Q 18
Allowance for loan losses	$	1,090	$	1,078	$	1,070	$	1,048	$	1,043	$	12		$	47
Total consumer loans (2)	$	73,071	$	72,898	$	71,553	$	70,539	$	69,995	$	173		$	3,076
Coverage ratio (3)		1.50%		1.48%		1.50%		1.49%		1.49%
Commercial
Allowance for loan losses	$	66	$	68	$	68	$	63	$	64	$	(2	)	$	2
Total commercial loans	$	33,330	$	33,575	$	35,708	$	37,924	$	35,626	$	(245	)	$	(2,296	)
Coverage ratio		0.20%		0.20%		0.19%		0.17%		0.18%
Mortgage (1)
Consumer
Mortgage Finance
Allowance for loan losses	$	17	$	18	$	18	$	16	$	20	$	(1	)	$	(3	)
Total consumer loans	$	15,782	$	16,485	$	16,225	$	15,155	$	14,840	$	(703	)	$	942
Coverage ratio		0.11%		0.11%		0.11%		0.11%		0.13%
Mortgage - Legacy
Allowance for loan losses	$	27	$	31	$	34	$	37	$	44	$	(4	)	$	(17	)
Total consumer loans	$	1,228	$	1,315	$	1,433	$	1,546	$	1,666	$	(87	)	$	(438	)
Coverage ratio		2.23%		2.35%		2.36%		2.37%		2.64%
Total Mortgage
Allowance for loan losses	$	44	$	49	$	52	$	53	$	64	$	(5	)	$	(20	)
Total consumer loans	$	17,010	$	17,800	$	17,658	$	16,701	$	16,506	$	(790	)	$	504
Coverage ratio		0.26%		0.27%		0.29%		0.32%		0.39%
Corporate Finance (1)
Allowance for loan losses	$	75	$	87	$	96	$	77	$	76	$	(12	)	$	(1	)
Total commercial loans	$	5,033	$	4,795	$	5,001	$	4,636	$	4,356	$	238		$	677
Coverage ratio		1.50%		1.81%		1.91%		1.66%		1.74%
Corporate and Other (1)
Allowance for loan losses	$	2	$	0	$	2	$	1	$	1	$	2		$	1
Total commercial loans	$	165	$	142	$	135	$	126	$	122	$	23		$	43
Coverage ratio		0.93%		0.34%		1.31%		1.15%		1.15%

(1) ALL 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 $176 million of fair value adjustment for loans in hedge accounting relationships in 3Q19, $153 million in 2Q19, $63 million in 1Q19, $24 million in 4Q18, ($52) million in 3Q18 and ($40) million in 2Q18.

(3) Excludes $176 million of fair value adjustment for loans in hedge accounting relationships in 3Q19, $153 million in 2Q19, $63 million in 1Q19, $24 million in 4Q18, ($52) million in 3Q18 and ($40) million in 2Q18.

3Q 2019 Preliminary Results 16

ALLY FINANCIAL INC. CAPITAL

($ in billions)

	QUARTERLY TRENDS															CHANGE VS.
	Basel III Transition
Capital (1)	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Risk-weighted assets	$	145.8		$	145.9		$	145.9		$	146.6		$	142.2		$	(0.1	)	$	3.6
Common Equity Tier 1 (CET1) capital ratio		9.6%			9.5%			9.3%			9.1%			9.4%
Tier 1 capital ratio		11.2%			11.2%			11.0%			10.8%			11.1%
Total capital ratio		12.8%			12.7%			12.5%			12.3%			12.7%
Tangible common equity / Tangible assets (2)(3)		7.8%			7.8%			7.5%			7.3%			7.4%
Tangible common equity / Risk-weighted assets (2)		9.7%			9.6%			9.2%			8.9%			9.0%
Shareholders’ equity	$	14.5		$	14.3		$	13.7		$	13.3		$	13.1		$	0.2		$	1.4
less:   Disallowed DTA		-			(0.1	)		(0.1	)		(0.1	)		(0.2	)		0.1			0.2
Certain AOCI items and other adjustments		(0.5	)		(0.3	)		-			0.3			0.5			(0.2	)		(1.0	)
Common Equity Tier 1 capital (4)	$	14.0		$	13.9		$	13.6		$	13.4		$	13.4		$	0.1		$	0.6
Common Equity Tier 1 capital	$	14.0		$	13.9		$	13.6		$	13.4		$	13.4		$	0.1		$	0.6
add: Trust preferred securities		2.5			2.5			2.5			2.5			2.5			-			-
less:   Other adjustments		(0.1	)		(0.1	)		(0.1	)		(0.1	)		(0.1	)		-			-
Tier 1 capital	$	16.4		$	16.3		$	16.0		$	15.8		$	15.8		$	0.1		$	0.6
Tier 1 capital	$	16.4		$	16.3		$	16.0		$	15.8		$	15.8		$	0.1		$	0.6
add: Qualifying subordinated debt		1.0			1.0			1.0			1.0			1.0			-			-
Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		1.2			1.2			1.2			1.2			1.2			-			-
Total capital	$	18.6		$	18.6		$	18.3		$	18.0		$	18.0		$	-		$	0.6
Total shareholders’ equity	$	14.5		$	14.3		$	13.7		$	13.3		$	13.1		$	0.2		$	1.4
Goodwill and intangible assets, net of deferred tax liabilities		(0.3	)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		-			-
Tangible common equity (2)	$	14.2		$	14.0		$	13.4		$	13.0		$	12.8		$	0.2		$	1.4
Total assets	$	181.5		$	180.4		$	180.1		$	178.9		$	173.1		$	1.1		$	8.4
less:   Goodwill and intangible assets, net of deferred tax liabilities		(0.3	)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		-			-
Tangible assets (3)	$	181.2		$	180.2		$	179.8		$	178.6		$	172.8		$	1.0		$	8.4
Denominator for Common equity tier 1 ratio
Risk-weighted assets (transition)	$	145.8		$	145.9		$	145.9		$	146.6		$	142.2
DTAs arising from temporary differences that could not be realized through NOL , net of VA and net of DTLs phased-in during transition		0.1			0.2			0.1			0.2			0.3
Risk-weighted assets (fully phased-in)	$	145.9		$	146.0		$	146.0		$	146.8		$	142.5
Metric
Common equity tier 1 ratio (transition)		9.6%			9.5%			9.3%			9.1%			9.4%
Common equity tier 1 ratio (fully phased-in) (4)		9.6%			9.5%			9.3%			9.1%			9.4%

Note: Numbers may not foot due to rounding

(1) Basel III rules became effective on January 1, 2015, subject to transition provisions primarily related to deductions and adjustments impacting CET1 capital and Tier 1 capital

(2) Represents a non-GAAP financial measure. 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 tax-effected Core OID balance and net deferred tax asset.

(3) Represents a non-GAAP financial measure. Ally defines tangible assets as total assets less goodwill and intangible assets, net of deferred tax liabilities.

(4) Common Equity Tier 1 (“CET1”) capital fully phased-in: Under the Basel III regulatory framework as adopted in the United States, banking organizations like the company are required to comply with a minimum ratio of common equity tier 1 capital to risk-weighted assets (CET1 Capital Ratio). Common equity tier 1 capital generally consists of common stock (plus any related surplus and net of any treasury stock), retained earnings, accumulated other comprehensive income, and minority interests in the common equity of consolidated subsidiaries, subject to specified conditions and adjustments. The obligation to comply with the minimum CET1 Capital Ratio is subject to ongoing transition periods and other provisions under Basel III. Management believes that both the transitional CET1 Capital Ratio and the fully phased-in CET1 Capital Ratio are helpful to readers in evaluating the company’s capital utilization and adequacy in absolute terms and relative to its peers. The fully phased-in CET1 Capital Ratio is a non-GAAP financial measure that is reconciled to the transitional CET1 Capital Ratio above.

3Q 2019 Preliminary Results 17

ALLY FINANCIAL INC. LIQUIDITY

($ in billions)

	QUARTERLY TRENDS										CHANGE VS.
Consolidated Available Liquidity	3Q 19		2Q 19		1Q 19		4Q 18		3Q 18		2Q 19		3Q 18
Cash and cash equivalents (1)	$	3.2	$	3.2	$	3.5	$	4.2	$	3.3	$	0.0	$	(0.1	)
Highly liquid securities (2)		23.5		21.5		20.3		12.8		15.5		1.9		8.0
Current committed unused capacity		2.0		1.6		1.8		1.9		2.4		0.3		(0.4	)
Subtotal	$	28.6	$	26.3	$	25.6	$	19.0	$	21.1	$	2.3	$	7.5
Ally Bank intercompany loan		-		-		-		-		-		-		-
Total current available liquidity	$	28.6	$	26.3	$	25.6	$	19.0	$	21.1	$	2.3	$	7.5
Unsecured Long-Term Debt Maturity Profile	2019		2020		2021		2022		2023		2024 and After
Consolidated remaining maturities	$	0.8	$	2.3	$	0.7	$	1.1	$	0.0	$	8.2

(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 and Agency MBS

3Q 2019 Preliminary Results 18

ALLY FINANCIAL INC. NET INTEREST MARGIN AND DEPOSITS

($ in millions)

	QUARTERLY TRENDS										CHANGE VS.
Average Balance Details	3Q 19		2Q 19		1Q 19		4Q 18		3Q 18		2Q 19			3Q 18
Retail Auto Loans	$	73,162	$	72,274	$	70,981	$	69,982	$	70,547	$	888		$	2,616
Auto Lease (net of dep)		8,525		8,370		8,389		8,516		8,634		155			(109	)
Commercial Auto		33,273		34,757		35,641		36,815		34,529		(1,484	)		(1,256	)
Corporate Finance		5,166		5,080		4,825		4,402		4,228		86			938
Mortgage		17,723		17,841		17,186		16,602		15,660		(118	)		2,063
Cash, Securities and Other		36,467		36,348		34,987		33,511		30,812		119			5,655
Total Earning Assets	$	174,316	$	174,670	$	172,009	$	169,828	$	164,410	$	(354	)	$	9,907
Interest Revenue		2,257		2,252		2,187		2,168		2,049		5			209
Unsecured Debt (ex. Core OID balance) (1)(4)	$	13,164	$	12,749	$	12,664	$	13,963	$	15,014	$	416		$	(1,850	)
Secured Debt		9,860		13,722		16,163		18,029		18,840		(3,862	)		(8,980	)
Deposits (2)		117,638		114,392		109,309		103,802		99,964		3,246			17,674
Other Borrowings (3)		19,996		20,720		21,712		22,451		19,770		(725	)		226
Total Funding Sources (ex. Core OID balance) (1)	$	160,658	$	161,583	$	159,848	$	158,245	$	153,588	$	(925	)	$	7,070
Interest Expense (ex. Core OID) (1)		1,062		1,088		1,048		1,005		920		(26	)		142
Net Financing Revenue (ex. Core OID) (1)	$	1,195	$	1,164	$	1,139	$	1,163	$	1,129	$	31		$	66
Net Interest Margin (yield details)
Retail Auto Loan		6.66%		6.58%		6.47%		6.39%		6.20%		0.08%			0.46%
Auto Lease (net of dep)		6.24%		5.94%		5.56%		5.82%		5.56%		0.30%			0.68%
Commercial Auto		4.59%		4.75%		4.80%		4.55%		4.40%		-0.16%			0.19%
Corporate Finance		7.14%		7.66%		7.48%		7.48%		7.41%		-0.52%			-0.27%
Mortgage		3.51%		3.71%		3.82%		3.73%		3.65%		-0.20%			-0.14%
Cash, Securities and Other		2.82%		2.96%		3.09%		3.02%		2.83%		-0.14%			-0.01%
Total Earning Assets		5.14%		5.17%		5.16%		5.06%		4.94%		-0.03%			0.20%
Unsecured Debt (ex. Core OID & Core OID balance) (1)(4)		6.15%		6.32%		6.37%		6.14%		5.79%		-0.17%			0.36%
Secured Debt		3.02%		3.16%		3.11%		2.95%		2.79%		-0.14%			0.23%
Deposits (2)		2.22%		2.29%		2.20%		2.00%		1.84%		-0.07%			0.38%
Other Borrowings (3)		2.48%		2.48%		2.48%		2.33%		2.13%		0.00%			0.35%
Total Funding Sources (ex. Core OID & Core OID balance) (1)		2.62%		2.70%		2.66%		2.52%		2.38%		-0.08%			0.24%
NIM (as reported)		2.70%		2.66%		2.67%		2.66%		2.67%		0.04%			0.03%
NIM (ex. Core OID & Core OID balance) (1)		2.72%		2.67%		2.69%		2.72%		2.72%		0.05%			0.00%
Ally Bank Deposits
Key Deposit Statistics
Average retail CD maturity (months)		20.3		20.6		20.9		21.3		22.0		(0.2	)		(1.6	)
Average retail deposit rate		2.14%		2.22%		2.14%		1.93%		1.78%
End of Period Deposit Levels
Retail	$	101,295	$	98,600	$	95,423	$	89,121	$	84,629	$	2,695		$	16,666
Brokered & other(2)		17,935		17,725		17,876		17,057		16,750		210			1,185
Total deposits	$	119,230	$	116,325	$	113,299	$	106,178	$	101,379	$	2,905		$	17,851
Deposit Mix
Retail CD		36%		34%		34%		34%		34%
MMA/OSA/Checking		49%		51%		50%		50%		49%
Brokered(2)		15%		15%		16%		16%		17%

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

(2) Includes brokered and other deposits. Brokered includes sweep deposits. Other includes mortgage escrow and other deposits.

(3) Includes Demand Notes, FHLB Borrowings and Repurchase Agreements.

(4) Includes trust preferred securities.

3Q 2019 Preliminary Results 19

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

($ in billions)

	HISTORICAL QUARTERLY TRENDS
Mortgage Finance HFI Portfolio	3Q 19		2Q 19		1Q 19		4Q 18		3Q 18
Loan Value
Gross carry value	$	15.8	$	16.5	$	16.2	$	15.2	$	14.8
Net carry value	$	15.8	$	16.5	$	16.2	$	15.1	$	14.8
Estimated Pool Characteristics
% Second lien		0.0%		0.0%		0.0%		0.0%		0.0%
% Interest only		0.0%		0.1%		0.1%		0.1%		0.1%
% 30+ Day delinquent		0.8%		0.6%		0.4%		0.5%		0.4%
% Low/No documentation		0.1%		0.1%		0.0%		0.0%		0.0%
% Non-primary residence		4.5%		4.7%		4.6%		4.4%		4.2%
Refreshed FICO		774		774		772		774		772
Wtd. Avg. LTV/CLTV (1)		60.7%		60.6%		60.7%		59.6%		60.8%
Corporate Other Legacy Mortgage HFI Portfolio
Loan Value
Gross carry value	$	1.2	$	1.3	$	1.4	$	1.5	$	1.7
Net carry value	$	1.2	$	1.3	$	1.4	$	1.5	$	1.6
Estimated Pool Characteristics
% Second lien		14.0%		15.2%		15.6%		15.4%		15.2%
% Interest only		0.1%		0.2%		0.3%		0.2%		0.2%
% 30+ Day delinquent		5.2%		5.7%		5.4%		5.4%		6.1%
% Low/No documentation		23.2%		23.2%		23.2%		23.3%		23.3%
% Non-primary residence		7.1%		7.4%		7.5%		7.6%		7.5%
Refreshed FICO		731		731		729		730		730
Wtd. Avg. LTV/CLTV (1)		64.5%		65.4%		65.9%		65.8%		67.8%

(1) Updated home values derived using a combination of appraisals, BPOs, AVMs and MSA level house price indices; calculation only includes first liens

3Q 2019 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 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
GAAP net income attributable to common shareholders	$	381		$	582		$	374		$	290		$	374		$	(201	)	$	7
Weighted-average common shares outstanding - basic (1)		390,205			398,100			404,129			411,931			422,187			(7,895	)		(31,982	)
Weighted-average common shares outstanding - diluted (1)		392,604			399,916			405,959			414,750			424,784			(7,312	)		(32,180	)
Issued shares outstanding (period-end)		383,523			392,775			399,761			404,900			416,591			(9,252	)		(33,067	)
Net income (loss) per share - basic (1)	$	0.98		$	1.46		$	0.93		$	0.70		$	0.89		$	(0.49	)	$	0.09
Net income (loss) per share - diluted (1)	$	0.97		$	1.46		$	0.92		$	0.70		$	0.88		$	(0.48	)	$	0.09
Adjusted Earnings per Share (“Adjusted EPS”)
Numerator
GAAP net income attributable to common shareholders	$	381		$	582		$	374		$	290		$	374		$	(201	)	$	7
(Loss) / income from discontinued operations, net of tax		-			2			1			(1	)		-			(2	)		-
Core OID		7			7			7			23			22			0			(14	)
Change in the fair value of equity securities (2)		11			(2	)		(70	)		95			(6	)		13			17
Core OID & change in the fair value of equity securities tax (tax rate 21% starting 1Q18) (2)		(4	)		(1	)		13			(25	)		(3	)		(3	)		(1	)
Significant discrete tax items		-			(201	)		-			-			-			201			-
Core net income attributable to common shareholders (3)	$	396		$	387		$	325		$	382		$	386		$	9		$	9
Denominator
Weighted-average common shares outstanding - diluted (1)		392,604			399,916			405,959			414,750			424,784			(7,312	)		(32,180	)
Adjusted EPS (4)	$	1.01		$	0.97		$	0.80		$	0.92		$	0.91		$	0.04		$	0.10
Memo
Original Issue Discount Amortization Expense
Core original issue discount (Core OID) amortization expense (5)	$	7		$	7		$	7		$	23		$	22		$	0		$	(14	)
Other OID		3			3			3			2			4			0			(0	)
GAAP original issue discount amortization expense	$	11		$	10		$	10		$	26		$	25		$	1		$	(15	)
Outstanding Original Issue Discount Balance
Core outstanding original issue discount balance (Core OID balance) (6)	$	(1,071	)	$	(1,078	)	$	(1,085	)	$	(1,092	)	$	(1,115	)	$	7		$	45
Other outstanding OID balance		(40	)		(44	)		(39	)		(43	)		(46	)		3			5
GAAP outstanding original issue discount balance	$	(1,111	)	$	(1,122	)	$	(1,125	)	$	(1,135	)	$	(1,161	)	$	11		$	50
Adjusted Other Revenue
GAAP Other Revenue	$	413		$	395		$	466		$	298		$	398		$	18		$	15
Change in the fair value of equity securities (2)		11			(2	)		(70	)		95			(6	)		13			17
Adjusted Other Revenue	$	424		$	393		$	396		$	393		$	392		$	31		$	32
Net Financing Revenue (ex. Core OID)
GAAP net financing revenue	$	1,188		$	1,157		$	1,132		$	1,140		$	1,107		$	31		$	81
Core OID		7			7			7			23			22			0			(14	)
Net Financing Revenue (ex. Core OID)	$	1,195		$	1,164		$	1,139		$	1,163		$	1,129		$	31		$	67

(1) Includes shares related to share-based compensation that vested but were not yet issued

(2) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. 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.

(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, significant discrete tax items and tax-effected changes in equity investments measured at fair value.

(4) 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) 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 1/1/2018 in which such adjustments were recognized through other comprehensive income, a component of equity that do not reflect the operating performance of the core businesses, and (4) excludes significant discrete tax items that do not relate to the operating performance of the core businesses.

(5) Core original issue discount (Core OID) amortization expense is a non-GAAP financial measure for OID, primarily related to bond exchange OID which excludes international operations and future issuances.

(6) Core outstanding original issue discount balance (Core OID balance) is a non-GAAP financial measure for outstanding OID, primarily related to bond exchange OID which excludes international operations and future issuances.

3Q 2019 Preliminary Results 21

ALLY FINANCIAL INC. ADJUSTED TANGIBLE BOOK PER SHARE RELATED INFORMATION

($ in billions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Adjusted Tangible Book Value Per Share (“Adjusted TBVPS”) Information	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Numerator
GAAP Common shareholder’s equity	$	14.5		$	14.3		$	13.7		$	13.3		$	13.1		$	0.1		$	1.4
Goodwill and identifiable intangibles, net of DTLs		(0.3	)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		0.0			0.0
Tangible common equity		14.2			14.0			13.4			13.0			12.8			0.1			1.4
Tax-effected Core OID balance (21% tax rate starting 4Q17)		(0.8	)		(0.9	)		(0.9	)		(0.9	)		(0.9	)		0.0			0.0
Adjusted tangible book value (1)	$	13.3		$	13.2		$	12.6		$	12.1		$	11.9		$	0.1		$	1.4
Denominator
Issued shares outstanding (period-end, thousands)		383,523			392,775			399,761			404,900			416,591			(9,252	)		(33,067	)
GAAP Common shareholder’s equity per share	$	37.7		$	36.4		$	34.3		$	32.8		$	31.4		$	1.2		$	6.3
Goodwill and identifiable intangibles, net of DTLs per share		(0.7	)		(0.7	)		(0.7	)		(0.7	)		(0.7	)		(0.0	)		(0.0	)
Tangible common equity per share		37.0			35.7			33.6			32.1			30.7			1.2			6.2
Tax-effected Core OID (21% tax rate starting 4Q17) per share		(2.2	)		(2.2	)		(2.1	)		(2.1	)		(2.1	)		(0.0	)		(0.1	)
Adjusted tangible book value per share (1)	$	34.7		$	33.6		$	31.4		$	29.9		$	28.6		$	1.2		$	6.1

(1) 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.

3Q 2019 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 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Numerator
GAAP net income attributable to common shareholders	$	381		$	582		$	374		$	290		$	374		$	(201	)	$	7
Discontinued operations, net of tax		-			2			1			(1	)		-			(2	)		-
Core OID		7			7			7			23			22			0			(14	)
Change in the fair value of equity securities (1)		11			(2	)		(70	)		95			(6	)		13			17
Core OID & change in the fair value of equity securities tax (tax rate 21% starting 1Q18) (1)		(4	)		(1	)		13			(25	)		(3	)		(3	)		(1	)
Significant discrete tax items		-			(201	)		-			-			-			201			-
Core net income attributable to common shareholders (2)	$	396		$	387		$	325		$	382		$	386		$	9		$	9
Denominator (2-period average, $ billions)
GAAP shareholder’s equity	$	14.4		$	14.0		$	13.5		$	13.2		$	13.1		$	0.4		$	1.3
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		0.0			0.0
Tangible common equity	$	14.1		$	13.7		$	13.2		$	12.9		$	12.8		$	0.4		$	1.3
Core OID balance		(1.1	)		(1.1	)		(1.1	)		(1.1	)		(1.1	)		0.0			0.1
Net deferred tax asset (“DTA”)		(0.1	)		(0.1	)		(0.2	)		(0.4	)		(0.4	)		0.0			0.3
Normalized common equity (3)	$	12.9		$	12.5		$	11.9		$	11.4		$	11.2		$	0.4		$	1.7
Core Return on Tangible Common Equity (4)		12.3%			12.4%			10.9%			13.4%			13.7%

(1) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. 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.

(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, significant discrete tax items and tax-effected changes in equity investments measured at fair value.

(3) Normalized common equity is a non—GAAP measure calculated using 2 period average

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

1. In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, 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, and significant discrete tax items that do not relate to the operating performance of the core businesses.

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

3Q 2019 Preliminary Results 23

ALLY FINANCIAL INC. ADJUSTED EFFICIENCY RATIO RELATED INFORMATION

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Adjusted Efficiency Ratio Calculation	3Q 19			2Q 19			1Q 19			4Q 18			3Q 18			2Q 19			3Q 18
Numerator
GAAP noninterest expense	$	838		$	881		$	830		$	804		$	807		$	(43	)	$	31
Rep and warrant expense		(0	)		(0	)		-			1			(0	)		0			0
Insurance expense		(247	)		(301	)		(227	)		(215	)		(241	)		54			(6	)
Adjusted noninterest expense for the Adjusted Efficiency Ratio	$	591		$	580		$	603		$	590		$	566		$	11		$	25
Denominator
Total net revenue	$	1,601		$	1,552		$	1,598		$	1,438		$	1,505		$	49		$	96
Core OID		7			7			7			23			22			0			(14	)
Insurance revenue		(303	)		(301	)		(372	)		(202	)		(296	)		(2	)		(7	)
Adjusted net revenue for the Adjusted Efficiency Ratio	$	1,305		$	1,258		$	1,233		$	1,259		$	1,231		$	47		$	75
Adjusted Efficiency Ratio (1)		45.3%			46.1%			48.9%			46.9%			46.0%

(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 and Rep and warrant expense. In the denominator, total net revenue is adjusted for Insurance segment revenue and Core OID. See page 11 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance business.

3Q 2019 Preliminary Results 24