Exhibit 99.3

SECOND QUARTER 2020

FINANCIAL SUPPLEMENT

ALLY FINANCIAL INC. FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION

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

This document and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts—such as statements about future effects of COVID-19 and our ability to navigate them, the outlook for financial and operating metrics and performance, and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2019, 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.

2Q 2020 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 Value Per Share Related Information		22
Core ROTCE Related Information		23
Adjusted Efficiency Ratio Related Information		24

2Q 2020 Preliminary Results 3

ALLY FINANCIAL INC. CONSOLIDATED FINANCIAL HIGHLIGHTS

($ in millions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Selected Income Statement Data	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Net financing revenue (ex. Core OID) (1)	$	1,063		$	1,154		$	1,164		$	1,195		$	1,164		$	(92	)	$	(101	)
Core OID		(9	)		(8	)		(8	)		(7	)		(7	)		(0	)		(2	)
Net financing revenue (as reported)		1,054			1,146			1,156			1,188			1,157			(92	)		(103	)
Other revenue (ex. change in the fair value of equity securities) (2)		465			451			458			424			393			14			72
Change in the fair value of equity securities (3)		90			(185	)		29			(11	)		2			275			88
Other revenue (as reported)		555			266			487			413			395			289			160
Provision for credit losses		287			903			276			263			177			(616	)		110
Total noninterest expense (4)		985			920			880			838			881			65			104
Pre-tax income (loss) from continuing operations		337			(411	)		487			500			494			748			(157	)
Income tax expense / (benefit)		95			(92	)		106			119			(90	)		187			185
(Loss) / income from discontinued operations, net of tax		(1	)		-			(3	)		-			(2	)		(1	)		1
Net income / (loss) attributable to common shareholders	$	241		$	(319	)	$	378		$	381		$	582		$	560		$	(341)
Selected Balance Sheet Data (Period-End)
Total assets	$	184,061		$	182,527		$	180,644		$	181,485		$	180,448		$	1,534		$	3,613
Consumer loans		90,365			90,066			89,924			90,081			90,698			299			(333	)
Commercial loans		27,869			38,073			38,307			38,528			38,512			(10,204	)		(10,643	)
Allowance for loan losses		(3,354	)		(3,245	)		(1,263	)		(1,277	)		(1,282	)		(109	)		(2,072	)
Deposits		131,036			122,324			120,752			119,230			116,325			8,712			14,711
Total equity		13,826			13,519			14,416			14,450			14,316			307			(490	)
Common Share Count
Weighted average basic (5)		375,051			375,723			380,793			390,205			398,100			(672	)		(23,048	)
Weighted average diluted (5)		375,762			375,723			383,391			392,604			399,916			39			(24,154	)
Issued shares outstanding (period-end)		373,837			373,155			374,332			383,523			392,775			682			(18,938	)
Per Common Share Data
Earnings per share (basic) (5)	$	0.64		$	(0.85	)	$	0.99		$	0.98		$	1.46		$	1.49		$	(0.82	)
Earnings per share (diluted) (5)		0.64			(0.85	)		0.99			0.97			1.46			1.49			(0.81	)
Adjusted earnings per share (6)		0.61			(0.44	)		0.95			1.01			0.97			1.05			(0.36	)
Book value per share		37.0			36.2			38.5			37.7			36.4			0.8			0.5
Tangible book value per share (7)		35.9			35.0			37.3			37.0			35.7			0.9			0.2
Adjusted tangible book value per share (7)		33.7			32.8			35.1			34.7			33.6			0.9			0.2
Select Financial Ratios
Net interest margin (as reported)		2.40%			2.66%			2.64%			2.70%			2.66%
Net interest margin (ex. Core OID) (8)		2.42%			2.68%			2.66%			2.72%			2.67%
Cost of funds		2.16%			2.43%			2.55%			2.66%			2.74%
Cost of funds (ex. Core OID) (8)		2.13%			2.39%			2.51%			2.62%			2.70%
Efficiency Ratio (9)		61.2%			65.2%			53.6%			52.3%			56.8%
Adjusted efficiency ratio (8)(9)		52.5%			52.3%			49.4%			45.3%			46.1%
Return on average assets (10)		0.5%			-0.7%			0.8%			0.8%			1.3%
Return on average total equity (10)		7.1%			-9.1%			10.5%			10.6%			16.6%
Return on average tangible common equity (10)		7.3%			-9.4%			10.7%			10.8%			17.0%
Core ROTCE (11)		7.6%			-5.4%			11.2%			12.3%			12.4%
Capital Ratios (12)
Common Equity Tier 1 (CET1) capital ratio		10.1%			9.3%			9.5%			9.6%			9.5%
Tier 1 capital ratio		11.9%			10.9%			11.2%			11.2%			11.2%
Total capital ratio		13.8%			12.8%			12.8%			12.8%			12.7%
Tier 1 leverage ratio		8.9%			8.9%			9.1%			9.1%			9.0%

(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) 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.

(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) For more details on final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally see page 17.

2Q 2020 Preliminary Results 4

ALLY FINANCIAL INC. CONSOLIDATED INCOME STATEMENT

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	1,630		$	1,742		$	1,811		$	1,859		$	1,860		$	(112	)	$	(230	)
Interest on loans held-for-sale		4			2			4			8			3			2			1
Total interest and dividends on investment securities		187			213			217			221			227			(26	)		(40	)
Interest-bearing cash		4			14			15			19			21			(10	)		(17	)
Other earning assets		10			13			17			16			17			(3	)		(7	)
Operating leases		343			367			378			368			363			(24	)		(20	)
Total financing revenue and other interest income		2,178			2,351			2,442			2,491			2,491			(173	)		(313	)
Interest expense
Interest on deposits		541			592			637			658			651			(51	)		(110	)
Interest on short-term borrowings		13			17			21			33			37			(4	)		(24	)
Interest on long-term debt		318			348			366			378			407			(30	)		(89	)
Total interest expense		872			957			1,024			1,069			1,095			(85	)		(223	)
Depreciation expense on operating lease assets		252			248			262			234			239			4			13
Net financing revenue (as reported)	$	1,054		$	1,146		$	1,156		$	1,188		$	1,157		$	(92	)	$	(103	)
Other revenue
Servicing fees		3			3			3			4			5			(0	)		(2	)
Insurance premiums and service revenue earned		263			277			285			280			261			(14	)		2
Gain on mortgage and automotive loans, net		14			(12	)		6			10			2			26			12
Other gain/loss on investments, net		188			(79	)		69			27			39			267			149
Other income, net of losses		89			77			125			92			88			12			1
Total other revenue		555			266			487			413			395			289			160
Total net revenue		1,609			1,412			1,643			1,601			1,552			197			57
Provision for credit losses		287			903			276			263			177			(616	)		110
Noninterest expense
Compensation and benefits expense		334			360			312			296			296			(26	)		38
Insurance losses and loss adjustment expenses		142			74			61			74			127			68			15
Goodwill impairment		50			-			-			-			-			50			50
Other operating expenses		459			486			507			468			458			(27	)		1
Total noninterest expense		985			920			880			838			881			65			104
Pre-tax income (loss) from continuing operations	$	337		$	(411	)	$	487		$	500		$	494		$	748		$	(157	)
Income tax expense / (benefit) from continuing operations		95			(92	)		106			119			(90	)		187			185
Net income (loss) from continuing operations		242			(319	)		381			381			584			561			(342	)
Income / (Loss) from discontinued operations, net of tax		(1	)		-			(3	)		-			(2	)		(1	)		1
Net income (loss)	$	241		$	(319	)	$	378		$	381		$	582		$	560		$	(341	)
Core Pre-Tax Income Walk
Net financing revenue (ex. Core OID) (1)	$	1,063		$	1,154		$	1,164		$	1,195		$	1,164		$	(92	)	$	(101	)
Adjusted other revenue (2)		465			451			458			424			393			14			72
Provision for credit losses		287			903			276			263			177			(616	)		110
Adjusted noninterest expense (3)		935			920			880			838			881			15			54
Core pre-tax income (loss) (4)	$	306		$	(217	)	$	466		$	519		$	499		$	523		$	(193	)
Core OID		(9	)		(8	)		(8	)		(7	)		(7	)		(0	)		(2	)
Change in the fair value of equity securities (5)		90			(185	)		29			(11	)		2			275			88
Repositioning and other (6)		(50	)		-			-			-			-			(50	)		(50	)
Pre-tax income (loss) from continuing operations	$	337		$	(411	)	$	487		$	500		$	494		$	748		$	(157	)

(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) Represents a non-GAAP financial measure. Excludes Goodwill impairment at Ally Invest in 2Q 20. For more details refer to page 21.

(4) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, (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 and (3) repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items. 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.

(5) 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.

(6) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

2Q 2020 Preliminary Results 5

ALLY FINANCIAL INC. CONSOLIDATED PERIOD-END BALANCE SHEET

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Assets
Cash and cash equivalents
Noninterest-bearing	$	609		$	453		$	619		$	723		$	659		$	156		$	(50	)
Interest-bearing		18,522			5,708			2,936			2,894			2,904			12,814			15,618
Total cash and cash equivalents		19,131			6,161			3,555			3,617			3,563			12,970			15,568
Investment securities (1)		31,228			31,619			32,468			32,572			31,740			(391	)		(512	)
Loans held-for-sale, net		404			235			158			1,000			275			169			129
Finance receivables and loans		118,234			128,139			128,231			128,609			129,210			(9,905	)		(10,976	)
Allowance for loan losses		(3,354	)		(3,245	)		(1,263	)		(1,277	)		(1,282	)		(109	)		(2,072	)
Total finance receivables and loans, net		114,880			124,894			126,968			127,332			127,928			(10,014	)		(13,048	)
Investment in operating leases, net		9,088			9,064			8,864			8,653			8,407			24			681
Premiums receivables and other insurance assets		2,609			2,576			2,558			2,521			2,460			33			149
Other assets		6,721			7,978			6,073			5,790			6,075			(1,257	)		646
Total assets	$	184,061		$	182,527		$	180,644		$	181,485		$	180,448		$	1,534		$	3,613
Liabilities
Deposit liabilities
Noninterest-bearing	$	134		$	139		$	119		$	156		$	162		$	(5	)	$	(28)
Interest-bearing		130,902			122,185			120,633			119,074			116,163			8,717			14,739
Total deposit liabilities		131,036			122,324			120,752			119,230			116,325			8,712			14,711
Short-term borrowings		3,689			9,493			5,531			5,335			6,519			(5,804	)		(2,830	)
Long-term debt		29,176			31,066			34,027			35,730			37,466			(1,890	)		(8,290	)
Interest payable		697			710			641			894			744			(13	)		(47	)
Unearned insurance premiums and service revenue		3,338			3,305			3,305			3,246			3,171			33			167
Accrued expense and other liabilities		2,299			2,110			1,972			2,600			1,907			189			392
Total liabilities	$	170,235		$	169,008		$	166,228		$	167,035		$	166,132		$	1,227		$	4,103
Equity
Common stock and paid-in capital (2)	$	18,307		$	18,278		$	18,350		$	18,628		$	18,914		$	29		$	(607	)
Accumulated deficit		(5,296	)		(5,465	)		(4,057	)		(4,368	)		(4,682	)		169			(614	)
Accumulated other comprehensive income / (loss)		815			706			123			190			84			109			731
Total equity		13,826			13,519			14,416			14,450			14,316			307			(490	)
Total liabilities and equity	$	184,061		$	182,527		$	180,644		$	181,485		$	180,448		$	1,534		$	3,613

(1) Includes held-to-maturity securities.

(2) Includes Treasury stock.

2Q 2020 Preliminary Results 6

ALLY FINANCIAL INC. CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Assets
Interest-bearing cash and cash equivalents	$	12,496		$	4,853		$	3,811		$	3,539		$	3,713		$	7,643		$	8,783
Investment securities and other earning assets		32,201			32,694			33,680			32,708			32,446			(493	)		(245	)
Loans held-for-sale, net		337			150			405			745			191			187			146
Total finance receivables and loans, net (2)		122,428			126,646			127,184			128,799			129,950			(4,218	)		(7,522	)
Investment in operating leases, net		9,068			9,078			8,749			8,525			8,370			(10	)		698
Total interest earning assets		176,530			173,420			173,829			174,316			174,670			3,110			1,860
Noninterest-bearing cash and cash equivalents		432			418			297			391			544			14			(112	)
Other assets		8,250			7,583			7,232			7,012			6,722			667			1,528
Allowance for loan losses		(3,227	)		(2,629	)		(1,277	)		(1,287	)		(1,284	)		(598	)		(1,943	)
Total assets	$	181,985		$	178,792		$	180,081		$	180,432		$	180,652		$	3,193		$	1,333
Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	111,152		$	104,483		$	102,362		$	99,874		$	96,855		$	6,669		$	14,298
Other interest-bearing deposit liabilities (3)		15,726			16,593			17,553			17,615			17,402			(868	)		(1,676	)
Total Interest-bearing deposit liabilities		126,878			121,076			119,915			117,489			114,257			5,802			12,621
Short-term borrowings		4,712			4,496			4,283			5,550			5,887			216			(1,175	)
Long-term debt (4)		30,554			33,122			34,954			36,395			40,222			(2,568	)		(9,668	)
Total interest-bearing liabilities (4)		162,144			158,694			159,152			159,434			160,366			3,450			1,779
Noninterest-bearing deposit liabilities		136			141			142			149			135			(5	)		1
Other liabilities		5,343			6,137			6,352			6,468			6,357			(794	)		(1,014	)
Total liabilities	$	167,623		$	164,972		$	165,646		$	166,051		$	166,858		$	2,651		$	766
Equity
Total equity	$	14,362		$	13,820		$	14,435		$	14,381		$	13,794		$	542		$	568
Total liabilities and equity	$	181,985		$	178,792		$	180,081		$	180,432		$	180,652		$	3,193		$	1,333

(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 $1,050 million in 2Q 20, $1,059 million in 1Q 20, $1,067 million in 4Q 19, $1,075 million in 3Q 19, and $1,082 million in 2Q 19.

2Q 2020 Preliminary Results 7

ALLY FINANCIAL INC. SEGMENT HIGHLIGHTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Pre-tax Income / (Loss)
Automotive Finance	$	329		$	(173	)	$	401		$	429		$	459		$	502		$	(130	)
Insurance		128			(105	)		114			56			-			233			128
Dealer Financial Services		457			(278	)		515			485			459			735			(2	)
Corporate Finance		32			(68	)		50			44			46			100			(14	)
Mortgage Finance		8			12			2			11			14			(4	)		(6	)
Corporate and Other (1)		(160	)		(77	)		(80	)		(40	)		(25	)		(83	)		(135	)
Pre-tax income (loss) from continuing operations	$	337		$	(411	)	$	487		$	500		$	494		$	748		$	(157	)
Core OID (2)		9			8			8			7			7			0			2
Change in the fair value of equity securities (3)		(90	)		185			(29	)		11			(2	)		(275	)		(88	)
Repositioning and other (4)		50			-			-			-			-			50			50
Core pre-tax income (loss) (5)	$	306		$	(217	)	$	466		$	519		$	499		$	523		$	(193	)

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

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

(3) 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) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

(5) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, (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 and (3) repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items. 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.

2Q 2020 Preliminary Results 8

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Net financing revenue
Consumer	$	1,215		$	1,202		$	1,234		$	1,227		$	1,184		$	13		$	31
Commercial		210			307			342			385			412			(97	)		(202	)
Loans held for sale		-			-			(1	)		-			-			-			-
Operating leases		343			367			378			368			363			(24	)		(20	)
Other interest income		2			1			1			3			3			1			(1	)
Total financing revenue and other interest income		1,770			1,877			1,954			1,983			1,962			(107	)		(192	)
Interest expense		529			589			631			671			701			(60	)		(172	)
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		240			251			265			262			261			(10	)		(21	)
Remarketing (losses) / gains		(11	)		2			3			28			23			(14	)		(34	)
Total depreciation expense on operating lease assets		252			248			262			234			239			4			13
Net financing revenue		989			1,040			1,061			1,078			1,022			(51	)		(33	)
Other revenue
Servicing fees		2			1			2			3			4			1			(2	)
Other income		39			46			58			57			57			(7	)		(18	)
Total other revenue		40			47			61			59			61			(7	)		(21	)
Total net revenue		1,029			1,087			1,122			1,137			1,083			(58	)		(54	)
Provision for credit losses		256			766			255			265			180			(510	)		76
Noninterest expense
Compensation and benefits		133			148			133			128			127			(15	)		6
Other operating expenses		311			346			333			315			317			(35	)		(6	)
Total noninterest expense		444			494			466			443			444			(50	)		-
Pre-tax income / (loss)	$	329		$	(173	)	$	401		$	429		$	459		$	502		$	(130	)
Memo: Net lease revenue
Operating lease revenue	$	343		$	367		$	378		$	368		$	363		$	(24	)	$	(20	)
Depreciation expense on operating lease assets (ex. remarketing)		240			251			265			262			261			(10	)		(21	)
Remarketing (losses) / gains, net of repo valuation		(11	)		2			3			28			23			(14	)		(34	)
Total depreciation expense on operating lease assets		252			248			262			234			239			4			13
Net lease revenue	$	91		$	119		$	116		$	134		$	124		$	(28	)	$	(33	)
Balance Sheet (Period-End)
Cash, trading and investment securities	$	23		$	23		$	23		$	23		$	23		$	-		$	-
Consumer loans		72,378			72,463			72,254			72,894			72,746			(85	)		(368	)
Commercial loans		21,708			31,390			32,490			33,330			33,575			(9,682	)		(11,867	)
Allowance for loan losses		(3,084	)		(2,968	)		(1,130	)		(1,156	)		(1,146	)		(116	)		(1,938	)
Total finance receivables and loans, net		91,002			100,885			103,614			105,068			105,175			(9,883	)		(14,173	)
Investment in operating leases, net		9,088			9,064			8,864			8,653			8,407			24			681
Other assets		1,903			1,582			1,362			1,352			1,350			321			553
Total assets	$	102,016		$	111,554		$	113,863		$	115,096		$	114,955		$	(9,538	)	$	(12,939	)

2Q 2020 Preliminary Results 9

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - KEY STATISTICS

	QUARTERLY TRENDS											CHANGE VS.
	2Q 20			1Q 20		4Q 19		3Q 19		2Q 19		1Q 20			2Q 19
U.S. Consumer Originations (1) ($ in billions)
Retail standard - new vehicle GM	$	0.7		$	1.0	$	1.2	$	1.3	$	1.2	$	(0.3	)	$	(0.5	)
Retail standard - new vehicle Chrysler		0.7			0.8		0.8		0.9		0.9		(0.1	)		(0.2	)
Retail standard - new vehicle Growth		0.6			1.1		1.0		1.2		1.3		(0.5	)		(0.7	)
Used vehicle		4.3			5.0		3.9		4.6		5.3		(0.7	)		(1.0	)
Lease		0.9			1.2		1.2		1.3		1.1		(0.4	)		(0.2	)
Retail subvented		0.0			0.0		0.0		0.1		0.1		(0.0	)		(0.0	)
Total originations	$	7.2		$	9.1	$	8.1	$	9.3	$	9.7	$	(1.9	)	$	(2.6	)
U.S. Consumer Originations - FICO Score
Super Prime (740+)	$	1.6		$	2.1	$	2.1	$	2.2	$	2.2	$	(0.5	)	$	(0.6	)
Prime (660-739)		2.9			3.4		2.9		3.4		3.6		(0.5	)		(0.7	)
Prime/Near (620-659)		1.6			1.9		1.6		2.0		2.1		(0.4	)		(0.5	)
Non Prime (540-619)		0.6			0.9		0.8		0.9		1.0		(0.3	)		(0.3	)
Sub Prime (0-539)		0.1			0.1		0.1		0.1		0.1		0.0			(0.0	)
Commercial Services Group (2)		0.4			0.6		0.7		0.7		0.7		(0.3	)		(0.3	)
Total originations	$	7.2		$	9.1	$	8.1	$	9.3	$	9.7	$	(1.9	)	$	(2.6	)
U.S. Market
Light vehicle sales (SAAR - units in millions)		11.4			15.0		16.7		17.0		17.0		(3.7	)		(5.7	)
Light vehicle sales (NSA - units in millions)		3.0			3.5		4.3		4.3		4.4		(0.5	)		(1.5	)
GM market share		16.5%			17.7%		17.3%		17.2%		16.9%
Chrysler market share		12.4%			12.8%		12.7%		13.1%		13.5%
Ally U.S. Consumer Penetration
GM		4.0%			6.2%		5.6%		5.7%		5.6%
Chrysler		10.4%			13.2%		12.5%		12.1%		11.1%
Ally U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings	$	15.8		$	26.1	$	27.0	$	27.7	$	27.9	$	(10.2	)	$	(12.1	)
Dealer loans and other		5.9			5.3		5.5		5.6		5.6		0.6			0.2
Total Commercial outstandings	$	21.7		$	31.4	$	32.5	$	33.3	$	33.6	$	(9.7	)	$	(11.9	)
U.S. Off-Lease Remarketing
Off-lease vehicles terminated - on-balance sheet (# in units)		26,785			20,419		27,832		29,985		29,267		6,366			(2,482	)
Average (loss) / gain per vehicle	$	(421	)	$	121	$	99	$	944	$	776	$	(542	)	$	(1,197	)
Total (loss) / gain ($ in millions)	$	(11	)	$	2	$	3	$	28	$	23	$	(14	)	$	(34	)

(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 2Q20

2Q 2020 Preliminary Results 10

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

($ in millions)

	QUARTERLY TRENDS													CHANGE VS.
Income Statement (GAAP View)	2Q 20		1Q 20			4Q 19		3Q 19			2Q 19			1Q 20			2Q 19
Net financing revenue
Interest and dividends on investment securities	$	27	$	29		$	29	$	28		$	29		$	(2	)	$	(2	)
Interest bearing cash		4		5			5		6			5			(1	)		(1	)
Total financing revenue and other interest revenue		31		34			34		34			34			(3	)		(3	)
Interest expense		19		20			21		20			19			(1	)		-
Net financing revenue		12		14			13		14			15			(2	)		(3	)
Other revenue
Insurance premiums and service revenue earned		263		277			285		280			261			(14	)		2
Other gain / (loss) on investments, net		172		(142	)		51		6			23			314			149
Other income, net of losses		3		2			3		3			2			1			1
Total other revenue		438		137			339		289			286			301			152
Total net revenue		450		151			352		303			301			299			149
Noninterest expense
Compensation and benefits expense		20		21			20		19			20			(1	)		-
Insurance losses and loss adjustment expenses		142		74			61		74			127			68			15
Other operating expenses		160		161			157		154			154			(1	)		6
Total noninterest expense		322		256			238		247			301			66			21
Pre-tax income / (loss)	$	128	$	(105	)	$	114	$	56		$	-		$	233		$	128
Memo: Income Statement (Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	263	$	277		$	285	$	280		$	261		$	(14	)	$	2
Investment income (adjusted) (1)		95		54			36		30			34			41			61
Other income		3		2			3		3			2			1			1
Total insurance premiums and other income		361		333			324		313			297			28			64
Expense
Insurance losses and loss adjustment expenses		142		74			61		74			127			68			15
Acquisition and underwriting expenses
Compensation and benefit expense		20		21			20		19			20			(1	)		-
Insurance commission expense		127		126			123		120			117			1			10
Other expense		33		35			34		34			37			(2	)		(4	)
Total acquisition and underwriting expense		180		182			177		173			174			(2	)		6
Total expense		322		256			238		247			301			66			21
Core pre-tax income / (loss) (1)		39		77			86		66			(4	)		(38	)		43
Change in the fair value of equity securities (1)		89		(182	)		28		(10	)		4			271			85
Income / (loss) before income tax expense	$	128	$	(105	)	$	114	$	56		$	-		$	233		$	128
Balance Sheet (Period-End)
Cash, trading and investment securities	$	5,920	$	5,193		$	5,742	$	5,713		$	5,538		$	727		$	382
Premiums receivable and other insurance assets		2,621		2,594			2,576		2,539			2,478			27			143
Other assets		199		633			229		226			225			(434	)		(26	)
Total assets	$	8,740	$	8,420		$	8,547	$	8,478		$	8,241		$	320		$	499
Key Statistics
Total written premiums and revenue (2)	$	267	$	317		$	335	$	357		$	314		$	(50	)	$	(47	)
Loss ratio (3)		53.4%		26.5%			21.2%		26.1%			48.5%
Underwriting expense ratio (4)		67.4%		65.1%			61.5%		61.4%			65.9%
Combined ratio		120.9%		91.6%			82.7%		87.5%			114.4%

(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.

2Q 2020 Preliminary Results 11

ALLY FINANCIAL INC. MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Net financing revenue
Total financing revenue and other interest income	$	127		$	138		$	137		$	144		$	150		$	(11	)	$	(23	)
Interest expense		97			100			101			105			104			(3	)		(7	)
Net financing revenue		30			38			36			39			46			(8	)		(16	)
Gain on mortgage loans, net		17			9			6			10			2			8			15
Other income, net of losses		2			1			-			-			2			1			-
Total other revenue		19			10			6			10			4			9			15
Total net revenue		49			48			42			49			50			1			(1	)
Provision for credit losses		3			1			3			-			-			2			3
Noninterest expense
Compensation and benefits expense		5			6			7			7			9			(1	)		(4	)
Other operating expense		33			29			30			31			27			4			6
Total noninterest expense		38			35			37			38			36			3			2
Pre-tax income	$	8		$	12		$	2		$	11		$	14		$		(4)	$	(6	)
Balance Sheet (Period-End)
Finance receivables and loans, net:
Consumer loans	$	16,429		$	15,949		$	16,181		$	15,782		$	16,485		$	480		$	(56	)
Allowance for loan losses		(21	)		(18	)		(19	)		(17	)		(18	)		(3	)		(3	)
Total finance receivables and loans, net		16,408			15,931			16,162			15,765			16,467			477			(59	)
Other assets		261			204			117			818			117			57			144
Total assets	$	16,669		$	16,135		$	16,279		$	16,583		$	16,584		$	534		$	85

2Q 2020 Preliminary Results 12

ALLY FINANCIAL INC. CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Net financing revenue
Total financing revenue and other interest income	$	92		$	95		$	93		$	93		$	97		$	(3	)	$	(5	)
Interest expense		15			27			29			33			36			(12	)		(21	)
Net financing revenue		77			68			64			60			61			9			16
Total other revenue (adjusted) (1)		5			17			15			10			12			(12	)		(6	)
Total net revenue		82			85			79			70			73			(3	)		10
Provision for credit losses		25			114			7			3			3			(89	)		22
Noninterest expense
Compensation and benefits expense		14			21			13			13			13			(7	)		1
Other operating expense		12			14			9			9			9			(2	)		3
Total noninterest expense		26			35			22			22			22			(9	)		4
Core pre-tax income (1)		31			(64	)		50			45			48			95			(16	)
Change in the fair value of equity securities (2)		1			(4	)		0			(1	)		(2	)		5			2
Pre-tax income / (loss)	$	32		$	(68	)	$	50		$	44		$	46		$	100		$	(14	)
Balance Sheet (Period-End)
Cash, trading and investment securities	$	5		$	4		$	8		$	8		$	9		$	1		$	(4	)
Loans held for sale		265			133			100			240			195			132			70
Commercial loans		6,031			6,549			5,688			5,033			4,795			(518	)		1,236
Allowance for loan losses		(178	)		(191	)		(77	)		(75	)		(87	)		13			(91	)
Total finance receivables and loans, net		5,853			6,358			5,611			4,958			4,708			(505	)		1,145
Other assets		83			77			68			69			68			6			15
Total assets	$	6,206		$	6,572		$	5,787		$	5,275		$	4,980		$	(366	)	$	1,226

(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.

2Q 2020 Preliminary Results 13

ALLY FINANCIAL INC. CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Net financing revenue
Total financing revenue and other interest income	$	158		$	207		$	224		$	237		$	248		$	(49	)	$	(90	)
Interest expense
Core original issue discount amortization		9			8			8			7			7			0			2
Other interest expense		203			213			234			233			228			(9	)		(25	)
Total interest expense		212			221			242			240			235			(9	)		(23	)
Net financing (loss) / revenue		(54	)		(14	)		(18	)		(3	)		13			(40	)		(67	)
Other revenue
Other gain on investments, net		15			67			18			22			14			(52	)		1
Other income, net of losses (1)		37			(8	)		48			24			20			45			17
Total other revenue		52			59			66			46			34			(7	)		18
Total net revenue		(2	)		45			48			43			47			(47	)		(49	)
Provision for credit losses		3			22			11			(5	)		(6	)		(19	)		9
Noninterest expense
Compensation and benefits expense		162			164			139			129			127			(2	)		35
Goodwill impairment		50			-			-			-			-			50			50
Other operating expense (2)		(57	)		(64	)		(22	)		(41	)		(49	)		7			(8	)
Total noninterest expense		155			100			117			88			78			55			77
Pre-tax (loss) income	$	(160	)	$	(77	)	$	(80	)	$	(40	)	$	(25	)	$	(83	)	$	(135	)
Balance Sheet (Period-End)
Cash, trading and investment securities	$	44,411		$	32,560		$	30,250		$	30,445		$	29,733		$	11,851		$	14,678
Loans held-for-sale		48			34			30			67			58			14			(10	)
Consumer loans		1,558			1,654			1,489			1,405			1,467			(96	)		91
Commercial loans (3)		130			134			129			165			142			(4	)		(12	)
Allowance for loan losses		(71	)		(68	)		(37	)		(29	)		(31	)		(3	)		(40	)
Total finance receivables and loans, net		1,617			1,720			1,581			1,541			1,578			(103	)		39
Other assets		4,354			5,532			4,307			4,000			4,319			(1,178	)		35
Total assets	$	50,430		$	39,846		$	36,168		$	36,053		$	35,688		$	10,584		$	14,742
Core OID Amortization Schedule (4)	2020			2021			2022			2023			2024 & After
Remaining Core OID amortization expense	$	20		$	41		$	47		$	54			Avg = $52/yr

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

(2) Other operating expenses includes corporate overhead allocated to the other business segments. Amounts of corporate overhead allocated were $242 million for 2Q20, $256 million for 1Q20, $225 million for 4Q19, $225 million for 3Q19 and $219 million for 2Q19. 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.

2Q 2020 Preliminary Results 14

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION

($ in millions)

	QUARTERLY TRENDS										CHANGE VS.
Asset Quality - Consolidated (1)	2Q 20		1Q 20		4Q 19		3Q 19		2Q 19		1Q 20			2Q 19
Ending loan balance	$	118,226	$	128,129	$	128,220	$	128,609	$	129,210	$	(9,903	)	$	(10,984	)
30+ Accruing DPD	$	1,695	$	2,416	$	2,709	$	2,561	$	2,227	$	(721	)	$	(532	)
30+ Accruing DPD %		1.43%		1.89%		2.11%		1.99%		1.72%
Non-performing loans (NPLs)	$	1,532	$	1,396	$	1,036	$	929	$	903	$	136		$	629
Net charge-offs (NCOs)	$	178	$	266	$	290	$	267	$	182	$	(88	)	$	(4	)
Net charge-off rate (2)		0.58%		0.84%		0.91%		0.83%		0.56%
Provision for credit losses	$	287	$	903	$	276	$	263	$	177	$	(616	)	$	110
Allowance for loan losses (ALLL)	$	3,354	$	3,245	$	1,263	$	1,277	$	1,282	$	109		$	2,072
ALLL as % of Loans (3) (4)		2.85%		2.54%		0.99%		0.99%		0.99%
ALLL as % of NPLs (3)		219%		232%		122%		137%		142%
ALLL as % of NCOs (3)		471%		305%		109%		119%		176%
US Auto Delinquencies - HFI Retail Contract $‘s (5)
Delinquent contract $	$	1,599	$	2,322	$	2,616	$	2,428	$	2,113	$	(723	)	$	(514	)
% of retail contract $ outstanding		2.20%		3.19%		3.61%		3.32%		2.90%
U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract $‘s
Net charge-offs	$	137	$	262	$	271	$	253	$	172	$	(125	)	$	(35	)
% of avg. HFI assets (2)		0.76%		1.44%		1.49%		1.38%		0.95%
U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract $‘s
Net charge-offs	$	1	$	2	$	10	$	1	$	1	$	(1	)	$	-
% of avg. HFI assets (2)		0.02%		0.03%		0.12%		0.02%		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 $334 million of fair value adjustment for loans in hedge accounting relationships in 2Q20, $370 million in 1Q20, $135 million in 4Q19, $176 million in 3Q19 and $153 million in 2Q19.

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

2Q 2020 Preliminary Results 15

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION, CONTINUED

($ in millions)

CONTINUING OPERATIONS

Automotive Finance (1)	QUARTERLY TRENDS										CHANGE VS.
Consumer	2Q 20		1Q 20		4Q 19		3Q 19		2Q 19		1Q 20			2Q 19
Allowance for loan losses	$	2,963	$	2,833	$	1,075	$	1,090	$	1,078	$	130		$	1,885
Total consumer loans (2)	$	72,712	$	72,832	$	72,390	$	73,071	$	72,898	$	(120	)	$	(186	)
Coverage ratio (3)		4.09%		3.91%		1.49%		1.50%		1.48%
Commercial
Allowance for loan losses	$	121	$	135	$	55	$	66	$	68	$	(14	)	$	53
Total commercial loans	$	21,708	$	31,390	$	32,490	$	33,330	$	33,575	$	(9,682	)	$	(11,867	)
Coverage ratio		0.56%		0.43%		0.17%		0.20%		0.20%
Mortgage (1)
Consumer
Mortgage Finance
Allowance for loan losses	$	21	$	18	$	19	$	17	$	18	$	3		$	3
Total consumer loans	$	16,429	$	15,949	$	16,181	$	15,782	$	16,485	$	480		$	(56	)
Coverage ratio		0.13%		0.11%		0.12%		0.11%		0.11%
Mortgage - Legacy
Allowance for loan losses	$	21	$	21	$	27	$	27	$	31	$	-		$	(10	)
Total consumer loans	$	984	$	1,061	$	1,141	$	1,228	$	1,315	$	(77	)	$	(331	)
Coverage ratio		2.08%		1.99%		2.35%		2.23%		2.35%
Total Mortgage
Allowance for loan losses	$	42	$	39	$	46	$	44	$	49	$	3		$	(7	)
Total consumer loans	$	17,413	$	17,010	$	17,322	$	17,010	$	17,800	$	403		$	(387	)
Coverage ratio		0.24%		0.23%		0.27%		0.26%		0.27%
Consumer Other (1)(4)
Allowance for loan losses	$	49	$	45	$	9					$	4		$	49
Total consumer loans	$	232	$	214	$	201					$	18		$	232
Coverage ratio		21.06%		21.23%		4.65%
Corporate Finance (1)
Allowance for loan losses	$	178	$	191	$	77	$	75	$	87	$	(13	)	$	91
Total commercial loans	$	6,031	$	6,549	$	5,688	$	5,033	$	4,795	$	(518	)	$	1,236
Coverage ratio		2.95%		2.92%		1.35%		1.50%		1.81%
Corporate and Other (1)
Allowance for loan losses	$	1	$	2	$	1	$	2	$	0	$	(1	)	$	1
Total commercial loans	$	130	$	134	$	129	$	165	$	142	$	(4	)	$	(12	)
Coverage ratio		1.13%		1.36%		0.69%		0.93%		0.34%

(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 $334 million of fair value adjustment for loans in hedge accounting relationships in 2Q20, $370 million in 1Q20, $135 million in 4Q19, $176 million in 3Q19 and $153 million in 2Q19.

(3) Excludes $334 million of fair value adjustment for loans in hedge accounting relationships in 2Q20, $370 million in 1Q20, $135 million in 4Q19, $176 million in 3Q19 and $153 million in 2Q19.

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

2Q 2020 Preliminary Results 16

ALLY FINANCIAL INC. CAPITAL

($ in billions)

	QUARTERLY TRENDS															CHANGE VS.
	Basel III Transition
Capital	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Risk-weighted assets	$	137.0		$	146.1		$	145.1		$	146.1		$	145.9		$	(9.1	)	$	(8.9	)
Common Equity Tier 1 (CET1) capital ratio		10.1%			9.3%			9.5%			9.6%			9.5%
Tier 1 capital ratio		11.9%			10.9%			11.2%			11.2%			11.2%
Total capital ratio		13.8%			12.8%			12.8%			12.8%			12.7%
Tangible common equity / Tangible assets (1)(2)		7.3%			7.2%			7.8%			7.8%			7.8%
Tangible common equity / Risk-weighted assets (1)		9.8%			9.0%			9.6%			9.7%			9.6%
Shareholders’ equity	$	13.8		$	13.5		$	14.4		$	14.5		$	14.3		$	0.3		$	(0.5	)
add: CECL phase-in adjustment		1.2			1.2
less:   Disallowed DTA		-			-			-			-			(0.1	)		-			0.1
Certain AOCI items and other adjustments		(1.2	)		(1.1	)		(0.6	)		(0.5	)		(0.3	)		(0.1	)		(0.9	)
Common Equity Tier 1 capital	$	13.8		$	13.5		$	13.8		$	14.0		$	13.9		$	0.3		$	(0.1	)
Common Equity Tier 1 capital	$	13.8		$	13.5		$	13.8		$	14.0		$	13.9		$	0.3		$	(0.1	)
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	$	16.2		$	16.0		$	16.3		$	16.4		$	16.3		$	0.2		$	(0.1	)
Tier 1 capital	$	16.2		$	16.0		$	16.3		$	16.4		$	16.3		$	0.2		$	(0.1	)
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		1.6			1.7			1.2			1.2			1.2			(0.1	)		0.4
Total capital	$	18.9		$	18.6		$	18.5		$	18.6		$	18.6		$	0.3		$	0.3
Total shareholders’ equity	$	13.8		$	13.5		$	14.4		$	14.5		$	14.3		$	0.3		$	(0.5	)
Goodwill and intangible assets, net of deferred tax liabilities		(0.4	)		(0.4	)		(0.5	)		(0.3	)		(0.3	)		-			(0.1	)
Tangible common equity (1)	$	13.4		$	13.1		$	14.0		$	14.2		$	14.0		$	0.3		$	(0.6	)
Total assets	$	184.1		$	182.5		$	180.6		$	181.5		$	180.4		$	1.6		$	3.7
less:   Goodwill and intangible assets, net of deferred tax liabilities		(0.4	)		(0.4	)		(0.5	)		(0.3	)		(0.3	)		-			(0.1	)
Tangible assets (2)	$	183.7		$	182.1		$	180.2		$	181.2		$	180.2		$	1.6		$	3.5

Note: Numbers may not foot due to rounding

(1) 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.

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

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

2Q 2020 Preliminary Results 17

ALLY FINANCIAL INC. LIQUIDITY

($ in billions)

	QUARTERLY TRENDS										CHANGE VS.
Consolidated Available Liquidity	2Q 20		1Q 20		4Q 19		3Q 19		2Q 19		1Q 20			2Q 19
Cash and cash equivalents (1)	$	18.6	$	5.7	$	3.1	$	3.2	$	3.2	$	12.9		$	15.4
Highly liquid securities (2)		23.4		24.0		24.7		23.5		21.5		(0.6	)		1.9
Current committed unused capacity		1.6		0.4		2.1		2.0		1.6		1.2			(0.1	)
Total current available liquidity	$	43.5	$	30.1	$	29.9	$	28.6	$	26.3	$	13.4		$	17.2
Unsecured Long-Term Debt Maturity Profile	2020		2021		2022		2023		2024		2025 & After
Consolidated remaining maturities	$	0.5	$	0.7	$	1.1	$	0.9	$	1.5	$	7.7

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

(2) Includes unencumbered UST, Agency debt and Agency MBS

2Q 2020 Preliminary Results 18

ALLY FINANCIAL INC. NET INTEREST MARGIN AND DEPOSITS

($ in millions)

	QUARTERLY TRENDS										CHANGE VS.
Average Balance Details	2Q 20		1Q 20		4Q 19		3Q 19		2Q 19		1Q 20			2Q 19
Retail Auto Loans	$	72,262	$	72,550	$	72,626	$	73,162	$	72,274	$	(288)		$	(12	)
Auto Lease (net of dep)		9,068		9,078		8,749		8,525		8,370		(10	)		698
Commercial Auto		26,106		30,472		31,921		33,273		34,757		(4,366	)		(8,651	)
Corporate Finance		6,580		6,088		5,526		5,166		5,080		492			1,500
Mortgage		17,422		17,296		17,140		17,723		17,841		126			(419	)
Cash, Securities and Other(1)		45,092		37,936		37,867		36,467		36,348		7,156			8,744
Total Earning Assets	$	176,530	$	173,420	$	173,829	$	174,316	$	174,670	$	3,110		$	1,860
Interest Revenue		1,926		2,103		2,180		2,257		2,252		(177	)		(326	)
Unsecured Debt (ex. Core OID balance) (2)(5)	$	11,627	$	12,182	$	12,741	$	13,164	$	12,749	$	(555)		$	(1,121)
Secured Debt		8,122		9,193		9,563		9,860		13,722		(1,071	)		(5,600	)
Deposits (3)		127,014		121,217		120,057		117,638		114,392		5,797			12,621
Other Borrowings (4)		16,567		17,302		18,000		19,996		20,720		(735	)		(4,153	)
Total Funding Sources (ex. Core OID balance) (2)	$	163,330	$	159,894	$	160,361	$	160,658	$	161,583	$	3,436		$	1,747
Interest Expense (ex. Core OID) (2)		863		949		1,016		1,062		1,088		(86	)		(225	)
Net Financing Revenue (ex. Core OID) (2)	$	1,063	$	1,154	$	1,164	$	1,195	$	1,164	$	(92)		$	(101	)
Net Interest Margin (yield details)
Retail Auto Loan		6.48%		6.54%		6.68%		6.66%		6.58%		-0.06%			-0.10%
memo: retail auto hedge impact		-0.28%		-0.12%		-0.07%		0.01%		0.02%		-0.16%			-0.30%
Auto Lease (net of dep)		4.10%		5.22%		5.19%		6.24%		5.94%		-1.12%			-1.84%
Commercial Auto		3.55%		4.11%		4.25%		4.59%		4.75%		-0.56%			-1.20%
Corporate Finance		5.64%		6.27%		6.65%		7.14%		7.66%		-0.63%			-2.02%
Mortgage		3.15%		3.45%		3.46%		3.51%		3.71%		-0.30%			-0.56%
Cash, Securities and Other(1)		1.87%		2.65%		2.71%		2.82%		2.96%		-0.78%			-1.09%
Total Earning Assets		4.39%		4.88%		4.97%		5.14%		5.17%		-0.49%			-0.78%
Unsecured Debt (ex. Core OID & Core OID balance) (2)(5)		6.11%		6.32%		6.20%		6.15%		6.32%		-0.21%			-0.21%
Secured Debt		2.64%		2.82%		2.92%		3.02%		3.16%		-0.18%			-0.52%
Deposits (3)		1.72%		1.97%		2.11%		2.22%		2.29%		-0.25%			-0.57%
Other Borrowings (4)		2.25%		2.34%		2.42%		2.48%		2.48%		-0.09%			-0.23%
Total Funding Sources (ex. Core OID & Core OID balance) (2)		2.13%		2.39%		2.51%		2.62%		2.70%		-0.26%			-0.57%
NIM (as reported)		2.40%		2.66%		2.64%		2.70%		2.66%		-0.26%			-0.26%
NIM (ex. Core OID & Core OID balance) (2)		2.42%		2.68%		2.66%		2.72%		2.67%		-0.26%			-0.25%
Ally Bank Deposits
Key Deposit Statistics
Average retail CD maturity (months)		19.6		19.9		20.1		20.3		20.6		(0.2	)		(0.9	)
Average retail deposit rate		1.64%		1.88%		2.02%		2.14%		2.22%
End of Period Deposit Levels
Retail	$	115,813	$	106,068	$	103,734	$	101,295	$	98,600	$	9,744		$	17,213
Brokered & other(3)		15,223		16,256		17,018		17,935		17,725		(1,032	)		(2,502	)
Total deposits	$	131,036	$	122,324	$	120,752	$	119,230	$	116,325	$	8,712		$	14,711
Deposit Mix
Retail CD		36%		38%		37%		36%		34%
MMA/OSA/Checking		53%		49%		49%		49%		51%
Brokered(3)		12%		13%		14%		15%		15%

(1) ‘Other’ includes held-for-investment consumer loans associated with Health Credit Services (HCS), now Ally Lending.

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

(3) Includes retail, brokered, and other deposits. Brokered includes sweep deposits. Other includes mortgage escrow and other deposits.

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

(5) Includes trust preferred securities.

2Q 2020 Preliminary Results 19

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

($ in billions)

	HISTORICAL QUARTERLY TRENDS
Mortgage Finance HFI Portfolio	2Q 20		1Q 20		4Q 19		3Q 19		2Q 19
Loan Value
Gross carry value	$	16.4	$	15.9	$	16.2	$	15.8	$	16.5
Net carry value	$	16.4	$	15.9	$	16.2	$	15.8	$	16.5
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%		0.1%
% 30+ Day Delinquent (1)(2)		0.6%		0.5%		0.5%		0.8%		0.6%
% Low/No Documentation		0.2%		0.2%		0.1%		0.1%		0.1%
% Non-primary Residence		4.6%		4.5%		4.5%		4.5%		4.7%
Refreshed FICO(3)		774		772		774		774		774
Wtd. Avg. LTV/CLTV (4)		60.4%		60.0%		60.3%		60.7%		60.6%
Corporate Other Legacy Mortgage HFI Portfolio
Loan Value
Gross carry value	$	1.0	$	1.1	$	1.1	$	1.2	$	1.3
Net carry value	$	1.0	$	1.0	$	1.1	$	1.2	$	1.3
Estimated Pool Characteristics
% Second lien		13.2%		13.6%		13.9%		14.0%		15.2%
% Interest only		0.1%		0.1%		0.1%		0.1%		0.2%
% 30+ Day Delinquent (1)(2)		4.0%		5.1%		5.4%		5.2%		5.7%
% Low/No Documentation		23.4%		23.1%		23.5%		23.2%		23.2%
% Non-primary Residence		6.9%		7.1%		7.2%		7.1%		7.4%
Refreshed FICO(3)		730		730		730		731		731
Wtd. Avg. LTV/CLTV (4)		62.1%		63.0%		63.8%		64.5%		65.4%

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

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

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

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

2Q 2020 Preliminary Results 20

ALLY FINANCIAL INC. EARNINGS PER SHARE RELATED INFORMATION

($ in millions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Earnings Per Share Data	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
GAAP net income (loss) attributable to common shareholders	$	241		$	(319	)	$	378		$	381		$	582		$	560		$	(341)
Weighted-average common shares outstanding - basic (1)		375,051			375,723			380,793			390,205			398,100			(672	)		(23,048	)
Weighted-average common shares outstanding - diluted (1)		375,762			375,723			383,391			392,604			399,916			39			(24,154	)
Issued shares outstanding (period-end)		373,837			373,155			374,332			383,523			392,775			682			(18,938	)
Net income (loss) per share - basic (1)	$	0.64		$	(0.85	)	$	0.99		$	0.98		$	1.46		$	1.49		$	(0.82)
Net income (loss) per share - diluted (1)	$	0.64		$	(0.85	)	$	0.99		$	0.97		$	1.46		$	1.49		$	(0.81)
Adjusted Earnings per Share (“Adjusted EPS”)
Numerator
GAAP net income (loss) attributable to common shareholders	$	241		$	(319	)	$	378		$	381		$	582		$	560		$	(341)
Discontinued operations, net of tax		1			-			3			-			2			1			(1	)
Core OID		9			8			8			7			7			0			2
Change in the fair value of equity securities (2)		(90	)		185			(29	)		11			(2	)		(275	)		(88	)
Core OID & change in the fair value of equity securities tax (tax rate 21% starting 1Q18) (2)		17			(41	)		4			(4	)		(1	)		58			18
Repositioning and other (3)		50			-			-			-			-			50			50
Significant discrete tax items		-			-			-			-			(201	)		-			201
Core net income attributable to common shareholders (4)	$	228		$	(166	)	$	364		$	396		$	387		$	394		$	(159)
Denominator
Weighted-average common shares outstanding - diluted (1)		375,762			375,723			383,391			392,604			399,916			39			(24,154)
Adjusted EPS (5)	$	0.61		$	(0.44	)	$	0.95		$	1.01		$	0.97		$	1.05		$	(0.36)
Memo
Original Issue Discount Amortization Expense
Core original issue discount (Core OID) amortization expense (6)	$	9		$	8		$	8		$	7		$	7		$	0		$	2
Other OID		4			3			3			3			3			1			1
GAAP original issue discount amortization expense	$	12		$	11		$	11		$	11		$	10		$	1		$	2
Outstanding Original Issue Discount Balance
Core outstanding original issue discount balance (Core OID balance) (7)	$	(1,046)		$	(1,055)		$	(1,063)		$	(1,071)		$	(1,078)		$	9		$	32
Other outstanding OID balance		(46	)		(34	)		(37	)		(40	)		(44	)		(12	)		(2	)
GAAP outstanding original issue discount balance	$	(1,092)		$	(1,089)		$	(1,100)		$	(1,111)		$	(1,122)		$		(3)	$	30
Adjusted Other Revenue
GAAP Other Revenue	$	555		$	266		$	487		$	413		$	395		$	289		$	160
Change in the fair value of equity securities (2)		(90	)		185			(29	)		11			(2	)		(275	)		(88	)
Adjusted Other Revenue	$	465		$	451		$	458		$	424		$	393		$	14		$	72
Net Financing Revenue (ex. Core OID)
GAAP net financing revenue	$	1,054		$	1,146		$	1,156		$	1,188		$	1,157		$	(92)		$	(103	)
Core OID		9			8			8			7			7			0			2
Net Financing Revenue (ex. Core OID)	$	1,063		$	1,154		$	1,164		$	1,195		$	1,164		$	(92)		$	(101	)
Adjusted Noninterest Expense
GAAP Noninterest Expense	$	985		$	920		$	880		$	838		$	881		$	65		$	104
Repositioning and other (3)		(50	)		-			-			-			-			(50	)		(50	)
Adjusted Noninterest Expense	$	935		$	920		$	880		$	838		$	881		$	15		$	54

(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.

(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) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

(4) 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, repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, significant discrete tax items and tax-effected changes in equity investments measured at fair value.

(5) 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, (4) repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, and (5) excludes significant discrete tax items that do not relate to the operating performance of the core businesses.

(6) 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.

(7) 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.

2Q 2020 Preliminary Results 21

ALLY FINANCIAL INC. ADJUSTED TANGIBLE BOOK VALUE PER SHARE RELATED INFORMATION

($ in billions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Adjusted Tangible Book Value Per Share (“Adjusted TBVPS”) Information	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20		2Q 19
Numerator
GAAP Common shareholder’s equity	$	13.8		$	13.5		$	14.4		$	14.5		$	14.3		$	0.3	$	(0.5)
Goodwill and identifiable intangibles, net of DTLs		(0.4	)		(0.4	)		(0.5	)		(0.3	)		(0.3	)		0.1		(0.1	)
Tangible common equity		13.4			13.1			14.0			14.2			14.0			0.4		(0.6	)
Tax-effected Core OID balance (21% tax rate starting 4Q17)		(0.8	)		(0.8	)		(0.8	)		(0.8	)		(0.9	)		0.0		0.0
Adjusted tangible book value (1)	$	12.6		$	12.2		$	13.1		$	13.3		$	13.2		$	0.4	$	(0.6)
Denominator
Issued shares outstanding (period-end, thousands)		373,837			373,155			374,332			383,523			392,775			682		(18,938	)
GAAP Common shareholder’s equity per share	$	37.0		$	36.2		$	38.5		$	37.7		$	36.4		$	0.8	$	0.5
Goodwill and identifiable intangibles, net of DTLs per share		(1.0	)		(1.2	)		(1.2	)		(0.7	)		(0.7	)		0.1		(0.3	)
Tangible common equity per share		35.9			35.0			37.3			37.0			35.7			0.9		0.2
Tax-effected Core OID (21% tax rate starting 4Q17) per share		(2.2	)		(2.2	)		(2.2	)		(2.2	)		(2.2	)		0.0		(0.0	)
Adjusted tangible book value per share (1)	$	33.7		$	32.8		$	35.1		$	34.7		$	33.6		$	0.9	$	0.2

(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.

2Q 2020 Preliminary Results 22

ALLY FINANCIAL INC. CORE ROTCE RELATED INFORMATION

($ in millions) unless noted otherwise

	QUARTERLY TRENDS															CHANGE VS.
Core Return on Tangible Common Equity (“Core ROTCE”)	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Numerator
GAAP net income (loss) attributable to common shareholders	$	241		$	(319	)	$	378		$	381		$	582		$	560		$	(341	)
Discontinued operations, net of tax		1			-			3			-			2			1			(1	)
Core OID		9			8			8			7			7			0			2
Change in the fair value of equity securities (1)		(90	)		185			(29	)		11			(2	)		(275	)		(88	)
Core OID & change in the fair value of equity securities tax (tax rate 21% starting 1Q18) (1)		17			(41	)		4			(4	)		(1	)		58			18
Repositioning and other (2)		50			-			-			-			-			50			50
Significant discrete tax items		-			-			-			-			(201	)		-			201
Core net income (loss) attributable to common shareholders(3)	$	228		$	(166	)	$	364		$	396		$	387		$	394		$	(159	)
Denominator (2-period average, $ billions)
GAAP shareholder’s equity	$	13.7		$	14.0		$	14.4		$	14.4		$	14.0		$	(0.3	)	$	(0.3	)
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(0.4	)		(0.4	)		(0.4	)		(0.3	)		(0.3	)		0.0			(0.1	)
Tangible common equity	$	13.3		$	13.5		$	14.1		$	14.1		$	13.7		$	(0.3	)	$	(0.5	)
Core OID balance		(1.1	)		(1.1	)		(1.1	)		(1.1	)		(1.1	)		0.0			0.0
Net deferred tax asset (“DTA”)		(0.2	)		(0.1	)		(0.0	)		(0.1	)		(0.1	)		(0.1	)		(0.0	)
Normalized common equity (4)	$	12.0		$	12.3		$	13.0		$	12.9		$	12.5		$	(0.3	)	$	(0.5	)
Core Return on Tangible Common Equity (5)		7.6%			-5.4%			11.2%			12.3%			12.4%

(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) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

(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, repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, significant discrete tax items and tax-effected changes in equity investments measured at fair value.

(4) Normalized common equity is a non-GAAP measure calculated using 2 period average

(5) 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 one-time 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, 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.

2Q 2020 Preliminary Results 23

ALLY FINANCIAL INC. ADJUSTED EFFICIENCY RATIO RELATED INFORMATION

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Adjusted Efficiency Ratio Calculation	2Q 20			1Q 20			4Q 19			3Q 19			2Q 19			1Q 20			2Q 19
Numerator
GAAP noninterest expense	$	985		$	920		$	880		$	838		$	881		$	65		$	104
Rep and warrant expense		-			-			-			(0	)		(0	)		-			0
Insurance expense		(322	)		(256	)		(238	)		(247	)		(301	)		(66	)		(21	)
Repositioning and other (1)		(50	)		-			-			-			-			(50	)		(50	)
Adjusted noninterest expense for the Adjusted Efficiency Ratio	$	613		$	664		$	642		$	591		$	580		$	(51	)	$	33
Denominator
Total net revenue	$	1,609		$	1,412		$	1,643		$	1,601		$	1,552		$	197		$	57
Core OID		9			8			8			7			7			0			2
Insurance revenue		(450	)		(151	)		(352	)		(303	)		(301	)		(299	)		(149	)
Adjusted net revenue for the Adjusted Efficiency Ratio	$	1,168		$	1,269		$	1,299		$	1,305		$	1,258		$	(102	)	$	(90	)
Adjusted Efficiency Ratio (2)		52.5%			52.3%			49.4%			45.3%			46.1%

(1) Repositioning and other includes a $50 million Goodwill impairment at Ally Invest in 2Q 20

(2) Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Insurance segment expense, Rep and warrant expense, and repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items. In the denominator, total net revenue is adjusted for Insurance segment revenue and Core OID. See page 11 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance business.

2Q 2020 Preliminary Results 24