Exhibit 99.3

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

3Q 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 Per Share Related Information		22
Core ROTCE Related Information		23
Adjusted Efficiency Ratio Related Information		24

3Q 2020 Preliminary Results 3

ALLY FINANCIAL INC. CONSOLIDATED FINANCIAL HIGHLIGHTS

($ in millions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Selected Income Statement Data	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Net financing revenue (excluding Core OID) (1)	$	1,209		$	1,063		$	1,154		$	1,164		$	1,195		$	146		$	14
Core OID		(9	)		(9	)		(8	)		(8	)		(7	)		0			(2	)
Net financing revenue (as reported)		1,200			1,054			1,146			1,156			1,188			146			12
Other revenue (excluding change in fair value of equity securities) (2)		471			465			451			458			424			5			46
Change in fair value of equity securities (3)		13			90			(185	)		29			(11	)		(76	)		25
Other revenue (as reported)		484			555			266			487			413			(71	)		71
Provision for loan losses		147			287			903			276			263			(140	)		(116	)
Total noninterest expense (4)		905			985			920			880			838			(80	)		67
Pre-tax income (loss) from continuing operations		632			337			(411	)		487			500			295			132
Income tax expense / (benefit)		156			95			(92	)		106			119			61			37
(Loss) / income from discontinued operations, net of tax		-			(1	)		-			(3	)		-			1			-
Net income / (loss) attributable to common shareholders	$	476		$	241		$	(319	)	$	378		$	381		$	235		$	95
Selected Balance Sheet Data (Period-End)
Total assets	$	185,270		$	184,061		$	182,527		$	180,644		$	181,485		$	1,209		$	3,785
Consumer loans		90,160			90,365			90,066			89,924			90,081			(205	)		79
Commercial loans		27,868			27,869			38,073			38,307			38,528			(1	)		(10,660	)
Allowance for loan losses		(3,379	)		(3,354	)		(3,245	)		(1,263	)		(1,277	)		(25	)		(2,102	)
Deposits		134,938			131,036			122,324			120,752			119,230			3,902			15,708
Total equity		14,126			13,826			13,519			14,416			14,450			300			(324	)
Common Share Count
Weighted average basic (5)		375,658			375,051			375,723			380,793			390,205			606			(14,548	)
Weighted average diluted (5)		377,011			375,762			375,723			383,391			392,604			1,250			(15,593	)
Issued shares outstanding (period-end)		373,857			373,837			373,155			374,332			383,523			20			(9,666	)
Per Common Share Data
Earnings per share (basic) (5)	$	1.27		$	0.64		$	(0.85	)	$	0.99		$	0.98		$	0.62		$	0.29
Earnings per share (diluted) (5)		1.26			0.64			(0.85	)		0.99			0.97			0.62			0.29
Adjusted earnings per share (6)		1.25			0.61			(0.44	)		0.95			1.01			0.65			0.25
Book value per share		37.8			37.0			36.2			38.5			37.7			0.8			0.1
Tangible book value per share (7)		36.7			35.9			35.0			37.3			37.0			0.8			(0.2	)
Adjusted tangible book value per share (7)		34.6			33.7			32.8			35.1			34.7			0.8			(0.2	)
Select Financial Ratios
Net interest margin (as reported)		2.65%			2.40%			2.66%			2.64%			2.70%
Net interest margin (ex. Core OID) (8)		2.67%			2.42%			2.68%			2.66%			2.72%
Cost of funds		1.86%			2.16%			2.43%			2.55%			2.66%
Cost of funds (ex. Core OID) (8)		1.82%			2.13%			2.39%			2.51%			2.62%
Efficiency Ratio (9)		53.7%			61.2%			65.2%			53.6%			52.3%
Adjusted efficiency ratio (8)(9)		47.3%			52.5%			52.3%			49.4%			45.3%
Return on average assets (10)		1.0%			0.5%			(0.7)%			0.8%			0.8%
Return on average total equity (10)		13.6%			7.1%			(9.1)%			10.5%			10.6%
Return on average tangible common equity (10)		14.0%			7.3%			(9.4)%			10.7%			10.8%
Core ROTCE (11)		15.2%			7.6%			(5.4)%			11.2%			12.3%
Capital Ratios (12)
Common Equity Tier 1 (CET1) capital ratio		10.4%			10.1%			9.3%			9.5%			9.6%
Tier 1 capital ratio		12.1%			11.9%			10.9%			11.2%			11.2%
Total capital ratio		14.1%			13.8%			12.8%			12.8%			12.8%
Tier 1 leverage ratio		9.0%			8.9%			8.9%			9.1%			9.1%

(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.

3Q 2020 Preliminary Results 4

ALLY FINANCIAL INC. CONSOLIDATED INCOME STATEMENT

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	1,602		$	1,630		$	1,742		$	1,811		$	1,859		$	(28	)	$	(257	)
Interest on loans held-for-sale		5			4			2			4			8			1			(3	)
Total interest and dividends on investment securities		162			187			213			217			221			(25	)		(59	)
Interest-bearing cash		5			4			14			15			19			1			(14	)
Other earning assets		11			10			13			17			16			1			(5	)
Operating leases		360			343			367			378			368			17			(8	)
Total financing revenue and other interest income		2,145			2,178			2,351			2,442			2,491			(33	)		(346	)
Interest expense
Interest on deposits		452			541			592			637			658			(89	)		(206	)
Interest on short-term borrowings		9			13			17			21			33			(4	)		(24	)
Interest on long-term debt		309			318			348			366			378			(9	)		(69	)
Total interest expense		770			872			957			1,024			1,069			(102	)		(299	)
Depreciation expense on operating lease assets		175			252			248			262			234			(77	)		(59	)
Net financing revenue (as reported)	$	1,200		$	1,054		$	1,146		$	1,156		$	1,188		$	146		$	12
Other revenue
Servicing fees		2			3			3			3			4			(0	)		(2	)
Insurance premiums and service revenue earned		276			263			277			285			280			13			(4	)
Gain on mortgage and automotive loans, net		33			14			(12	)		6			10			19			23
Loss on extinguishment of debt		(49	)		-			-			-			-			(49	)		(49	)
Other gain/loss on investments, net		64			188			(79	)		69			27			(124	)		37
Other income, net of losses		157			89			77			125			92			68			65
Total other revenue		484			555			266			487			413			(71	)		71
Total net revenue		1,684			1,609			1,412			1,643			1,601			75			83
Provision for loan losses		147			287			903			276			263			(140	)		(116	)
Noninterest expense
Compensation and benefits expense		342			334			360			312			296			8			46
Insurance losses and loss adjustment expenses		85			142			74			61			74			(57	)		11
Goodwill impairment		-			50			-			-			-			(50	)		-
Other operating expenses		478			459			486			507			468			19			10
Total noninterest expense		905			985			920			880			838			(80	)		67
Pre-tax income (loss) from continuing operations	$	632		$	337		$	(411	)	$	487		$	500		$	295		$	132
Income tax expense / (benefit) from continuing operations		156			95			(92	)		106			119			61			37
Net income (loss) from continuing operations		476			242			(319	)		381			381			234			95
Income / (Loss) from discontinued operations, net of tax		-			(1	)		-			(3	)		-			1			-
Net income (loss)	$	476		$	241		$	(319	)	$	378		$	381		$	235		$	95
Core Pre-Tax Income Walk
Net financing revenue (ex. OID) (1)	$	1,209		$	1,063		$	1,154		$	1,164		$	1,195		$	146		$	14
Adjusted other revenue (2)		471			465			451			458			424			5			46
Provision for credit losses		147			287			903			276			263			(140	)		(116	)
Adjusted noninterest expense (3)		905			935			920			880			838			(30	)		67
Core pre-tax income (loss) (4)	$	628		$	306		$	(217	)	$	466		$	519		$	322		$	109
Core OID		(9	)		(9	)		(8	)		(8	)		(7	)		0			(2	)
Change in the fair value of equity securities (5)		13			90			(185	)		29			(11	)		(76	)		25
Repositioning and other (6)		-			(50	)		-			-			-			50			-
Pre-tax income (loss) from continuing operations	$	632		$	337		$	(411	)	$	487		$	500		$	295		$	132

(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, as applicable for respective periods. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings.

(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

3Q 2020 Preliminary Results 5

ALLY FINANCIAL INC. CONSOLIDATED PERIOD-END BALANCE SHEET

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Assets
Cash and cash equivalents
Noninterest-bearing	$	719		$	609		$	453		$	619		$	723		$	110		$	(4	)
Interest-bearing		19,220			18,522			5,708			2,936			2,894			698			16,326
Total cash and cash equivalents		19,939			19,131			6,161			3,555			3,617			808			16,322
Investment securities (1)		31,871			31,228			31,619			32,468			32,572			643			(701	)
Loans held-for-sale, net		441			404			235			158			1,000			37			(559	)
Finance receivables and loans, net		118,028			118,234			128,139			128,231			128,609			(206	)		(10,581	)
Allowance for loan losses		(3,379	)		(3,354	)		(3,245	)		(1,263	)		(1,277	)		(25	)		(2,102	)
Total finance receivables and loans, net		114,649			114,880			124,894			126,968			127,332			(231	)		(12,683	)
Investment in operating leases, net		9,454			9,088			9,064			8,864			8,653			366			801
Premiums receivables and other insurance assets		2,662			2,609			2,576			2,558			2,521			53			141
Other assets		6,254			6,721			7,978			6,073			5,790			(467	)		464
Total assets	$	185,270		$	184,061		$	182,527		$	180,644		$	181,485		$	1,209		$	3,785
Liabilities
Deposit liabilities
Noninterest-bearing	$	159		$	134		$	139		$	119		$	156		$	25		$	3
Interest-bearing		134,779			130,902			122,185			120,633			119,074			3,877			15,705
Total deposit liabilities		134,938			131,036			122,324			120,752			119,230			3,902			15,708
Short-term borrowings		3,032			3,689			9,493			5,531			5,335			(657	)		(2,303	)
Long-term debt		25,704			29,176			31,066			34,027			35,730			(3,472	)		(10,026	)
Interest payable		748			697			710			641			894			51			(146	)
Unearned insurance premiums and service revenue		3,401			3,338			3,305			3,305			3,246			63			155
Accrued expense and other liabilities		3,321			2,299			2,110			1,972			2,600			1,022			721
Total liabilities	$	171,144		$	170,235		$	169,008		$	166,228		$	167,035		$	909		$	4,109
Equity
Common stock and paid-in capital (2)	$	18,324		$	18,307		$	18,278		$	18,350		$	18,628		$	17		$	(304	)
Accumulated deficit		(4,893	)		(5,296	)		(5,465	)		(4,057	)		(4,368	)		403			(525	)
Accumulated other comprehensive income / (loss)		695			815			706			123			190			(120	)		505
Total equity		14,126			13,826			13,519			14,416			14,450			300			(324	)
Total liabilities and equity	$	185,270		$	184,061		$	182,527		$	180,644		$	181,485		$	1,209		$	3,785

(1) Includes held-to-maturity securities.

(2) Includes Treasury stock.

3Q 2020 Preliminary Results 6

ALLY FINANCIAL INC. CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Assets
Interest-bearing cash and cash equivalents	$	20,719		$	12,496		$	4,853		$	3,811		$	3,539		$	8,223		$	17,180
Investment securities and other earning assets		32,059			32,201			32,694			33,680			32,708			(142	)		(649	)
Loans held-for-sale, net		472			337			150			405			745			135			(273	)
Total finance receivables and loans, net (2)		117,546			122,428			126,646			127,184			128,799			(4,882	)		(11,253	)
Investment in operating leases, net		9,317			9,068			9,078			8,749			8,525			249			792
Total interest earning assets		180,113			176,530			173,420			173,829			174,316			3,583			5,797
Noninterest-bearing cash and cash equivalents		536			432			418			297			391			104			145
Other assets		8,137			8,250			7,583			7,232			7,012			(113	)		1,125
Allowance for loan losses		(3,371	)		(3,227	)		(2,629	)		(1,277	)		(1,287	)		(144	)		(2,084	)
Total assets	$	185,415		$	181,985		$	178,792		$	180,081		$	180,432		$	3,430		$	4,983
Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	118,307		$	111,152		$	104,483		$	102,362		$	99,874		$	7,154		$	18,432
Other interest-bearing deposit liabilities (3)		14,500			15,726			16,593			17,553			17,615			(1,226	)		(3,115	)
Total Interest-bearing deposit liabilities		132,807			126,878			121,076			119,915			117,489			5,929			15,318
Short-term borrowings		3,343			4,712			4,496			4,283			5,550			(1,369	)		(2,207	)
Long-term debt (4)		28,512			30,554			33,122			34,954			36,395			(2,042	)		(7,883	)
Total interest-bearing liabilities (4)		164,662			162,144			158,694			159,152			159,434			2,518			5,228
Noninterest-bearing deposit liabilities		157			136			141			142			149			21			8
Other liabilities		6,472			5,343			6,137			6,352			6,468			1,129			4
Total liabilities	$	171,291		$	167,623		$	164,972		$	165,646		$	166,051		$	3,668		$	5,240
Equity
Total equity	$	14,124		$	14,362		$	13,820		$	14,435		$	14,381		$	(238	)	$	(257	)
Total liabilities and equity	$	185,415		$	181,985		$	178,792		$	180,081		$	180,432		$	3,430		$	4,983

(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 $1,041 million in 3Q 20, $1,050 million in 2Q 20, $1,059 million in 1Q 20, $1,067 million in 4Q 19, and $1,075 million in 3Q 19.

3Q 2020 Preliminary Results 7

ALLY FINANCIAL INC. SEGMENT HIGHLIGHTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Pre-tax Income / (Loss)
Automotive Finance	$	566		$	329		$	(173	)	$	401		$	429		$	237		$	137
Insurance		78			128			(105	)		114			56			(50	)		22
Dealer Financial Services		644			457			(278	)		515			485			187			159
Corporate Finance		60			32			(68	)		50			44			28			16
Mortgage Finance		26			8			12			2			11			18			15
Corporate and Other (1)		(98	)		(160	)		(77	)		(80	)		(40	)		62			(58	)
Pre-tax income from continuing operations	$	632		$	337		$	(411	)	$	487		$	500		$	295		$	132
Core OID (2)		9			9			8			8			7			0			2
Change in the fair value of equity securities (3)		(13	)		(90	)		185			(29	)		11			76			(25	)
Repositioning and other (4)		-			50			-			-			-			(50	)		-
Core pre-tax income (loss) (5)	$	628		$	306		$	(217	)	$	466		$	519		$	322		$	109

(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, as applicable for respective periods. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings.

3Q 2020 Preliminary Results 8

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Net financing revenue
Consumer	$	1,253		$	1,215		$	1,202		$	1,234		$	1,227		$	38		$	26
Commercial		153			210			307			342			385			(57	)		(232	)
Loans held-for-sale		-			-			-			(1	)		-			-			-
Operating leases		360			343			367			378			368			17			(8	)
Other interest income		1			2			1			1			3			(1	)		(2	)
Total financing revenue and other interest income		1,767			1,770			1,877			1,954			1,983			(3	)		(216	)
Interest expense		490			529			589			631			671			(39	)		(181	)
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		245			240			251			265			262			5			(17	)
Remarketing gains / (losses)		71			(11	)		2			3			28			82			42
Total depreciation expense on operating lease assets		175			252			248			262			234			(77	)		(59	)
Net financing revenue		1,102			989			1,040			1,061			1,078			113			24
Other revenue
Servicing fees		2			2			1			2			3			-			(1	)
Other income		58			39			46			58			57			19			1
Total other revenue		61			40			47			61			59			21			2
Total net revenue		1,163			1,029			1,087			1,122			1,137			134			26
Provision for credit losses		128			256			766			255			265			(128	)		(137	)
Noninterest expense
Compensation and benefits		134			133			148			133			128			1			6
Other operating expenses		335			311			346			333			315			24			20
Total noninterest expense		469			444			494			466			443			25			26
Pre-tax Income / (loss)	$	566		$	329		$	(173	)	$	401		$	429		$	237		$	137
Memo: Net lease revenue
Operating lease revenue	$	360		$	343		$	367		$	378		$	368		$	17		$	(8	)
Depreciation expense on operating lease assets (ex. remarketing)		245			240			251			265			262			5			(17	)
Remarketing gains (losses), net of repo valuation		71			(11	)		2			3			28			82			42
Total depreciation expense on operating lease assets		175			252			248			262			234			(77	)		(59	)
Net lease revenue	$	185		$	91		$	119		$	116		$	134		$	94		$	51
Balance Sheet (Period-End)
Cash, trading and investment securities	$	23		$	23		$	23		$	23		$	23		$	-		$	-
Consumer loans		73,484			72,378			72,463			72,254			72,894			1,106			590
Commercial loans		21,854			21,708			31,390			32,490			33,330			146			(11,476	)
Allowance for loan losses		(3,092	)		(3,084	)		(2,968	)		(1,130	)		(1,156	)		(8	)		(1,936	)
Total finance receivables and loans, net		92,246			91,002			100,885			103,614			105,068			1,244			(12,822	)
Investment in operating leases, net		9,454			9,088			9,064			8,864			8,653			366			801
Other assets		1,643			1,903			1,582			1,362			1,352			(260	)		291
Total assets	$	103,366		$	102,016		$	111,554		$	113,863		$	115,096		$	1,350		$	(11,730	)

3Q 2020 Preliminary Results 9

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - KEY STATISTICS

	QUARTERLY TRENDS											CHANGE VS.
	3Q 20		2Q 20			1Q 20		4Q 19		3Q 19		2Q 20			3Q 19
U.S. Consumer Originations (1) ($ in billions)
Retail standard - new vehicle GM	$	1.0	$	0.7		$	1.0	$	1.2	$	1.3	$	0.3		$	(0.3	)
Retail standard - new vehicle Chrysler		1.0		0.7			0.8		0.8		0.9		0.3			0.1
Retail standard - new vehicle Growth		1.0		0.6			1.1		1.0		1.2		0.4			(0.2	)
Used vehicle		5.4		4.3			5.0		3.9		4.6		1.1			0.8
Lease		1.4		0.9			1.2		1.2		1.3		0.5			0.1
Retail subvented		0.0		0.0			0.0		0.0		0.1		0.0			(0.0	)
Total originations	$	9.8	$	7.2		$	9.1	$	8.1	$	9.3	$	2.6		$	0.5
U.S. Consumer Originations - FICO Score
Super Prime (740+)	$	2.3	$	1.6		$	2.1	$	2.1	$	2.2	$	0.7		$	0.1
Prime (660-739)		3.9		2.9			3.4		2.9		3.4		1.0			0.4
Prime/Near (620-659)		2.0		1.6			1.9		1.6		2.0		0.5			0.1
Non Prime (540-619)		0.8		0.6			0.9		0.8		0.9		0.2			(0.1	)
Sub Prime (0-539)		0.2		0.1			0.1		0.1		0.1		0.0			0.1
Commercial Services Group (2)		0.5		0.4			0.6		0.7		0.7		0.2			(0.1	)
Total originations	$	9.8	$	7.2		$	9.1	$	8.1	$	9.3	$	2.6		$	0.5
U.S. Market
Light vehicle sales (SAAR - units in millions)		15.6		11.6			15.4		17.3		17.2		4.0			(1.6	)
Light vehicle sales (quarterly - units in millions)		3.9		3.0			3.5		4.3		4.3		0.9			(0.4	)
GM market share		16.9%		16.5%			17.7%		17.3%		17.2%
Chrysler market share		13.0%		12.4%			12.8%		12.7%		13.1%
Ally U.S. Consumer Penetration
GM		4.4%		4.0%			6.2%		5.6%		5.7%
Chrysler		12.8%		10.4%			13.2%		12.5%		12.1%
Ally U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings	$	16.0	$	15.8		$	26.1	$	27.0	$	27.7	$	0.2		$	(11.7	)
Dealer loans and other		5.8		5.9			5.3		5.5		5.6		(0.0	)		0.2
Total Commercial outstandings	$	21.9	$	21.7		$	31.4	$	32.5	$	33.3	$	0.1		$	(11.5	)
U.S. Off-Lease Remarketing
Off-lease vehicles terminated - on-balance sheet (# in units)		28,917		26,785			20,419		27,832		29,985		2,132			(1,068	)
Average gain / (loss) per vehicle	$	2,437	$	(421	)	$	121	$	99	$	944	$	2,858		$	1,494
Total gain / (loss) ($ in millions)	$	71	$	(11	)	$	2	$	3	$	28	$	82		$	42

(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 3Q20

3Q 2020 Preliminary Results 10

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

($ in millions)

	QUARTERLY TRENDS												CHANGE VS.
Income Statement (GAAP View)	3Q 20		2Q 20		1Q 20			4Q 19		3Q 19			2Q 20			3Q 19
Net financing revenue
Interest and dividends on investment securities	$	25	$	27	$	29		$	29	$	28		$	(2	)	$	(3	)
Interest bearing cash		4		4		5			5		6			-			(2	)
Total financing revenue and other interest revenue		29		31		34			34		34			(2	)		(5	)
Interest expense		21		19		20			21		20			2			1
Net financing revenue		8		12		14			13		14			(4	)		(6	)
Other revenue
Insurance premiums and service revenue earned		276		263		277			285		280			13			(4	)
Other gain / (loss) on investments, net		59		172		(142	)		51		6			(113	)		53
Other income, net of losses		3		3		2			3		3			-			-
Total other revenue		338		438		137			339		289			(100	)		49
Total net revenue		346		450		151			352		303			(104	)		43
Noninterest expense
Compensation and benefits expense		21		20		21			20		19			1			2
Insurance losses and loss adjustment expenses		85		142		74			61		74			(57	)		11
Other operating expenses		162		160		161			157		154			2			8
Total noninterest expense		268		322		256			238		247			(54	)		21
Pre-tax Income / (Loss)	$	78	$	128	$	(105	)	$	114	$	56		$	(50	)	$	22
Memo: Income Statement (Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	276	$	263	$	277		$	285	$	280		$	13		$	(4	)
Investment income (adjusted) (1)		54		95		54			36		30			(41	)		25
Other income		3		3		2			3		3			-			-
Total insurance premiums and other income		333		361		333			324		313			(28	)		21
Expense
Insurance losses and loss adjustment expenses		85		142		74			61		74			(57	)		11
Acquisition and underwriting expenses
Compensation and benefit expense		21		20		21			20		19			1			2
Insurance commission expense		130		127		126			123		120			3			10
Other expense		32		33		35			34		34			(1	)		(2	)
Total acquisition and underwriting expense		183		180		182			177		173			3			10
Total expense		268		322		256			238		247			(54	)		21
Core pre-tax income / (loss) (1)		65		39		77			86		66			26			(0	)
Change in the fair value of equity securities (1)		13		89		(182	)		28		(10	)		(76	)		22
Income / (Loss) before income tax expense	$	78	$	128	$	(105	)	$	114	$	56		$	(50	)	$	22
Balance Sheet (Period-End)
Cash, trading and investment securities	$	6,006	$	5,920	$	5,193		$	5,742	$	5,713		$	86		$	293
Premiums receivable and other insurance assets		2,674		2,621		2,594			2,576		2,539			53			135
Other assets		264		199		633			229		226			65			38
Total assets	$	8,944	$	8,740	$	8,420		$	8,547	$	8,478		$	204		$	466
Key Statistics
Total written premiums and revenue (2)	$	333	$	267	$	317		$	335	$	357		$	66		$	(24	)
Loss ratio (3)		30.3%		53.4%		26.5%			21.2%		26.1%
Underwriting expense ratio (4)		65.8%		67.4%		65.1%			61.5%		61.4%
Combined ratio		96.1%		120.9%		91.6%			82.7%		87.5%

(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 2020 Preliminary Results 11

ALLY FINANCIAL INC. MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Net financing revenue
Total financing revenue and other interest income	$	121		$	127		$	138		$	137		$	144		$	(6	)	$	(23	)
Interest expense		91			97			100			101			105			(6	)		(14	)
Net financing revenue		30			30			38			36			39			-			(9	)
Gain on mortgage loans, net		34			17			9			6			10			17			24
Other income, net of losses		2			2			1			-			-			-			2
Total other revenue		36			19			10			6			10			17			26
Total net revenue		66			49			48			42			49			17			17
Provision for loan losses		-			3			1			3			-			(3	)		-
Noninterest expense
Compensation and benefits expense		6			5			6			7			7			1			(1	)
Other operating expense		34			33			29			30			31			1			3
Total noninterest expense		40			38			35			37			38			2			2
Pre-tax Income	$	26		$	8		$	12		$	2		$	11		$	18		$	15
Balance Sheet (Period-End)
Finance receivables and loans, net:
Consumer loans	$	15,168		$	16,429		$	15,949		$	16,181		$	15,782		$	(1,261	)	$	(614	)
Allowance for loan losses		(20	)		(21	)		(18	)		(19	)		(17	)		1			(3	)
Total finance receivables and loans, net		15,148			16,408			15,931			16,162			15,765			(1,260	)		(617	)
Other assets		355			261			204			117			818			94			(463	)
Total assets	$	15,503		$	16,669		$	16,135		$	16,279		$	16,583		$	(1,166	)	$	(1,080	)

3Q 2020 Preliminary Results 12

ALLY FINANCIAL INC. CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Net financing revenue
Total financing revenue and other interest income	$	84		$	92		$	95		$	93		$	93		$	(8	)	$	(9	)
Interest expense		9			15			27			29			33			(6	)		(24	)
Net financing revenue		75			77			68			64			60			(2	)		15
Total other revenue (adjusted) (1)		8			5			17			15			10			3			(2	)
Total net revenue		83			82			85			79			70			1			13
Provision for loan losses		1			25			114			7			3			(24	)		(2	)
Noninterest expense
Compensation and benefits expense		13			14			21			13			13			(1	)		-
Other operating expense		10			12			14			9			9			(2	)		1
Total noninterest expense		23			26			35			22			22			(3	)		1
Core pre-tax income (1)		59			31			(64	)		50			45			28			14
Change in the fair value of equity securities (2)		1			1			(4	)		-			(1	)		0			2
Pre-tax Income / (loss)	$	60		$	32		$	(68	)	$	50		$	44		$	28		$	16
Balance Sheet (Period-End)
Non-marketable equity securities	$	6		$	5		$	4		$	8		$	8		$	1		$	(2	)
Loans held for sale		207			265			133			100			240			(58	)		(33	)
Commercial loans		5,883			6,031			6,549			5,688			5,033			(148	)		850
Allowance for loan losses		(180	)		(178	)		(191	)		(77	)		(75	)		(2	)		(105	)
Total finance receivables and loans, net		5,703			5,853			6,358			5,611			4,958			(150	)		745
Other assets		79			83			77			68			69			(4	)		10
Total assets	$	5,995		$	6,206		$	6,572		$	5,787		$	5,275		$	(211	)	$	720

(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 2020 Preliminary Results 13

ALLY FINANCIAL INC. CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Net financing revenue
Total financing revenue and other interest income	$	144		$	158		$	207		$	224		$	237		$	(14	)	$	(93	)
Interest expense
Core original issue discount amortization		9			9			8			8			7			0			2
Other interest expense		150			203			213			234			233			(53	)		(83	)
Total interest expense		159			212			221			242			240			(53	)		(81	)
Net financing (loss) / revenue		(15	)		(54	)		(14	)		(18	)		(3	)		39			(12	)
Other revenue
Loss on extinguishment of debt		(49	)		-			-			-			-			(49	)		(49	)
Other gain on investments, net		5			15			67			18			22			(10	)		(17	)
Other income, net of losses (1)		84			37			(8	)		48			24			47			60
Total other revenue		40			52			59			66			46			(12	)		(6	)
Total net revenue		25			(2	)		45			48			43			27			(18	)
Provision for loan losses		18			3			22			11			(5	)		15			23
Noninterest expense
Compensation and benefits expense		168			162			164			139			129			6			39
Goodwill impairment		-			50			-			-			-			(50	)		-
Other operating expense (2)		(63	)		(57	)		(64	)		(22	)		(41	)		(6	)		(22	)
Total noninterest expense		105			155			100			117			88			(50	)		17
Pre-tax (loss) income	$	(98	)	$	(160	)	$	(77	)	$	(80	)	$	(40	)	$	62		$	(58	)
Balance Sheet (Period-End)
Cash, trading and investment securities	$	45,775		$	44,411		$	32,560		$	30,250		$	30,445		$	1,364		$	15,330
Loans held-for-sale		78			48			34			30			67			30			11
Consumer loans		1,508			1,558			1,654			1,489			1,405			(50	)		103
Commercial loans (3)		131			130			134			129			165			1			(34	)
Allowance for loan losses		(87	)		(71	)		(68	)		(37	)		(29	)		(16	)		(58	)
Total finance receivables and loans, net		1,552			1,617			1,720			1,581			1,541			(65	)		11
Other assets		4,057			4,354			5,532			4,307			4,000			(297	)		57
Total assets	$	51,462		$	50,430		$	39,846		$	36,168		$	36,053		$	1,032		$	15,409
Core OID Amortization Schedule (4)	2020			2021			2022			2023			2024 & After
Remaining Core OID amortization expense	$	9		$	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 $234 million for 3Q20, $242 million for 2Q20, $256 million for 1Q20, $225 million for 4Q19 and $225 million for 3Q19. 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 2020 Preliminary Results 14

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION

($ in millions)

	QUARTERLY TRENDS										CHANGE VS.
Asset Quality - Consolidated (1)	3Q 20		2Q 20		1Q 20		4Q 19		3Q 19		2Q 20			3Q 19
Ending Loan Balance	$	118,020	$	118,226	$	128,129	$	128,220	$	128,609	$	(206	)	$	(10,589	)
30+ Accruing DPD	$	1,840	$	1,695	$	2,416	$	2,709	$	2,561	$	145		$	(721	)
30+ Accruing DPD %		1.56%		1.43%		1.89%		2.11%		1.99%
Non-Performing Loans (NPLs)	$	1,493	$	1,532	$	1,396	$	1,036	$	929	$	(39	)	$	564
Net Charge-Offs (NCOs)	$	122	$	178	$	266	$	290	$	267	$	(56	)	$	(145	)
Net Charge-Off Rate (2)		0.41%		0.58%		0.84%		0.91%		0.83%
Provision for credit losses	$	147	$	287	$	903	$	276	$	263	$	(140	)	$	(116	)
Allowance for loan losses (ALLL)	$	3,379	$	3,354	$	3,245	$	1,263	$	1,277	$	25		$	2,102
ALLL as % of Loans (3)(4)		2.87%		2.85%		2.54%		0.99%		0.99%
ALLL as % of NPLs (3)		226%		219%		232%		122%		137%
ALLL as % of NCOs (3)		691%		471%		305%		109%		119%
US Auto Delinquencies-HFI Retail Contract $‘s (5)
Delinquent contract $	$	1,658	$	1,599	$	2,322	$	2,616	$	2,428	$	59		$	(770	)
% of retail contract $ outstanding		2.25%		2.20%		3.19%		3.61%		3.32%
US Auto Annualized Net Charge - Offs-HFI Retail Contract $‘s
Net Charge-offs	$	117	$	137	$	262	$	271	$	253	$	(20	)	$	(136	)
% of avg. HFI assets (2)		0.64%		0.76%		1.44%		1.49%		1.38%
US Auto Annualized Net Charge- Offs-HFI Commercial Contract $‘s
Net Charge-offs	$	4	$	1	$	2	$	10	$	1	$	3		$	3
% of avg. HFI assets (2)		0.07%		0.02%		0.03%		0.12%		0.02%

(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 receivables 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 $277 million of fair value adjustment for loans in hedge accounting relationships in 3Q20, $334 million in 2Q20, $370 million in 1Q20, $135 million in 4Q19 and $176 million in 3Q19.

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

3Q 2020 Preliminary Results 15

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION, CONTINUED

($ in millions)

CONTINUING OPERATIONS

Automotive Finance (1)	QUARTERLY TRENDS										CHANGE VS.
Consumer	3Q 20		2Q 20		1Q 20		4Q 19		3Q 19		2Q 20			3Q 19
Allowance for loan losses	$	2,982	$	2,963	$	2,833	$	1,075	$	1,090	$	19		$	1,892
Total consumer loans (2)	$	73,761	$	72,712	$	72,832	$	72,390	$	73,071	$	1,049		$	690
Coverage ratio (3)		4.06%		4.09%		3.91%		1.49%		1.50%
Commercial
Allowance for loan losses	$	110	$	121	$	135	$	55	$	66	$	(11	)	$	44
Total commercial loans	$	21,854	$	21,708	$	31,390	$	32,490	$	33,330	$	146		$	(11,476	)
Coverage ratio		0.51%		0.56%		0.43%		0.17%		0.20%
Mortgage (1)
Consumer
Mortgage Finance
Allowance for loan losses	$	20	$	21	$	18	$	19	$	17	$	(1)		$	3
Total consumer loans	$	15,168	$	16,429	$	15,949	$	16,181	$	15,782	$	(1,261	)	$	(614)
Coverage ratio		0.13%		0.13%		0.11%		0.12%		0.11%
Mortgage-Legacy
Allowance for loan losses	$	19	$	21	$	21	$	27	$	27	$	(2)		$	(8)
Total consumer loans	$	904	$	984	$	1,061	$	1,141	$	1,228	$	(80)		$	(324)
Coverage ratio		2.09%		2.08%		1.99%		2.35%		2.23%
Total Mortgage
Allowance for loan losses	$	39	$	42	$	39	$	46	$	44	$	(3	)	$	(5	)
Total consumer loans	$	16,072	$	17,413	$	17,010	$	17,322	$	17,010	$	(1,341	)	$	(938	)
Coverage ratio		0.24%		0.24%		0.23%		0.27%		0.26%
Consumer Other (1)(4)
Allowance for loan losses	$	67	$	49	$	45	$	9	$	-	$	18		$	67
Total consumer loans	$	319	$	232	$	214	$	201	$	-	$	87		$	319
Coverage ratio		20.93%		21.06%		21.23%		4.65%		-%
Corporate Finance (1)
Allowance for loan losses	$	180	$	178	$	191	$	77	$	75	$	2		$	105
Total commercial loans	$	5,883	$	6,031	$	6,549	$	5,688	$	5,033	$	(148	)	$	850
Coverage ratio		3.05%		2.95%		2.92%		1.35%		1.50%
Corporate and Other (1)
Allowance for loan losses	$	1	$	1	$	2	$	1	$	2	$	0		$	(1	)
Total commercial loans	$	131	$	130	$	134	$	129	$	165	$	1		$	(34	)
Coverage ratio		1.13%		1.13%		1.36%		0.69%		0.93%

(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 chargeoffs. Excludes loans held at fair value.

(2) Includes $277 million of fair value adjustment for loans in hedge accounting relationships in 3Q20, $334 million in 2Q20, $370 million in 1Q20, $135 million in 4Q19 and $176 million in 3Q19.

(3) Excludes $277 million of fair value adjustment for loans in hedge accounting relationships in 3Q20, $334 million in 2Q20, $370 million in 1Q20, $135 million in 4Q19 and $176 million in 3Q19.

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

3Q 2020 Preliminary Results 16

ALLY FINANCIAL INC. CAPITAL

($ in billions)

	QUARTERLY TRENDS															CHANGE VS.
Capital	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20		3Q 19
Risk-weighted assets	$	137.6		$	137.0		$	146.1		$	145.1		$	146.1		$	0.6	$	(8.5	)
Common Equity Tier 1 (CET1) capital ratio		10.4%			10.1%			9.3%			9.5%			9.6%
Tier 1 capital ratio		12.1%			11.9%			10.9%			11.2%			11.2%
Total capital ratio		14.1%			13.8%			12.8%			12.8%			12.8%
Tangible common equity / Tangible assets (1)(2)		7.4%			7.3%			7.2%			7.8%			7.8%
Tangible common equity / Risk-weighted assets (1)		10.0%			9.8%			9.0%			9.6%			9.7%
Shareholders’ equity	$	14.1		$	13.8		$	13.5		$	14.4		$	14.5		$	0.3	$	(0.4	)
add: CECL phase-in adjustment		1.2			1.2		$	1.2			-			-			0.0		-
less:   Certain AOCI items and other adjustments		(1.1	)		(1.2	)		(1.1	)		(0.6	)		(0.5	)		0.1		(0.6	)
Common Equity Tier 1 capital	$	14.3		$	13.8		$	13.5		$	13.8		$	14.0		$	0.5	$	0.3
Common Equity Tier 1 capital	$	14.3		$	13.8		$	13.5		$	13.8		$	14.0		$	0.5	$	0.3
add: Trust preferred securities		2.5			2.5			2.5			2.5			2.5			0.0		0.0
less:   Other adjustments		(0.1	)		(0.1	)		(0.1	)		(0.1	)		(0.1	)		0.0		0.0
Tier 1 capital	$	16.7		$	16.2		$	16.0		$	16.3		$	16.4		$	0.5	$	0.3
Tier 1 capital	$	16.7		$	16.2		$	16.0		$	16.3		$	16.4		$	0.5	$	0.3
add: Qualifying subordinated debt		1.0			1.0			1.0			1.0			1.0			0.0		0.0
add: Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		1.6			1.6			1.7			1.2			1.2			0.0		0.4
Total capital	$	19.3		$	18.9		$	18.6		$	18.5		$	18.6		$	0.4	$	0.7
Total shareholders’ equity	$	14.1		$	13.8		$	13.5		$	14.4		$	14.5		$	0.3	$	(0.4	)
Goodwill and intangible assets, net of deferred tax liabilities		(0.4	)		(0.4	)		(0.4	)		(0.5	)		(0.3	)		0.0		(0.1	)
Tangible common equity (1)	$	13.7		$	13.4		$	13.1		$	14.0		$	14.2		$	0.3	$	(0.5	)
Total assets	$	185.3		$	184.1		$	182.5		$	180.6		$	181.5		$	1.2	$	3.8
less:   Goodwill and intangible assets, net of deferred tax liabilities		(0.4	)		(0.4	)		(0.4	)		(0.5	)		(0.3	)		0.0		(0.1	)
Tangible assets (2)	$	184.9		$	183.7		$	182.1		$	180.2		$	181.2		$	1.2	$	3.7

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

3Q 2020 Preliminary Results 17

ALLY FINANCIAL INC. LIQUIDITY

($ in billions)

	QUARTERLY TRENDS										CHANGE VS.
Consolidated Available Liquidity	3Q 20		2Q 20		1Q 20		4Q 19		3Q 19		2Q 20			3Q 19
Liquid cash and cash equivalents (1)	$	19.3	$	18.6	$	5.7	$	3.1	$	3.2	$	0.7		$	16.1
Highly liquid securities (2)		23.5		23.4		24.0		24.7		23.5		0.1			0.0
Current committed unused capacity		1.4		1.6		0.4		2.1		2.0		(0.2	)		(0.6	)
Total current available liquidity	$	44.2	$	43.5	$	30.1	$	29.9	$	28.6	$	0.7		$	15.6
Unsecured Long-Term Debt Maturity Profile	2020		2021		2022		2023		2024		2025 & After
Consolidated remaining maturities	$	-	$	0.6	$	1.1	$	1.6	$	1.5	$	6.6

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

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

3Q 2020 Preliminary Results 18

ALLY FINANCIAL INC. NET INTEREST MARGIN AND DEPOSITS

($ in millions)

	QUARTERLY TRENDS										CHANGE VS.
Average Balance Details	3Q 20		2Q 20		1Q 20		4Q 19		3Q 19		2Q 20		3Q 19
Retail Auto Loans	$	72,999	$	72,262	$	72,550	$	72,626	$	73,162	$	737	$	(163)
Auto Lease (net of dep)		9,317		9,068		9,078		8,749		8,525		249		792
Commercial Auto		21,265		26,106		30,472		31,921		33,273		(4,841)		(12,008)
Commercial Finance		6,188		6,580		6,088		5,526		5,166		(392)		1,022
Mortgage		17,096		17,422		17,296		17,140		17,723		(326)		(627)
Cash, Securities and Other (1)		53,248		45,092		37,936		37,867		36,467		8,156		16,781
Total Earning Assets	$	180,113	$	176,530	$	173,420	$	173,829	$	174,316	$	3,583	$	5,797
Interest Revenue		1,970		1,926		2,103		2,180		2,257		44		(287)
Unsecured Debt (ex. Core OID balance) (2)(5)	$	12,315	$	11,627	$	12,182	$	12,741	$	13,164	$	688	$	(849)
Secured Debt		6,154		8,122		9,193		9,563		9,860		(1,968)		(3,706)
Deposits (3)		132,964		127,014		121,217		120,057		117,638		5,950		15,326
Other Borrowings (4)		14,427		16,567		17,302		18,000		19,996		(2,140)		(5,568)
Total Funding Sources (ex. Core OID balance) (2)	$	165,860	$	163,330	$	159,894	$	160,361	$	160,658	$	2,529	$	5,201
Interest Expense (ex. Core OID) (2)		761		863		949		1,016		1,062		(102)		(301)
Net Financing Revenue (ex. Core OID) (2)	$	1,209	$	1,063	$	1,154	$	1,164	$	1,195	$	146	$	14
Net Interest Margin (yield details)
Retail Auto Loan		6.56%		6.48%		6.54%		6.68%		6.66%		0.08%		(0.10)%
memo: retail auto hedge impact		(0.27)%		(0.28)%		(0.12)%		(0.07)%		0.01%		0.01%		(0.28)%
Auto Lease (net of dep)		7.89%		4.10%		5.22%		5.19%		6.24%		3.79%		1.65%
Commercial Auto		3.30%		3.55%		4.11%		4.25%		4.59%		(0.25)%		(1.29)%
Corporate Finance		5.40%		5.64%		6.27%		6.65%		7.14%		(0.24)%		(1.74)%
Mortgage		3.00%		3.15%		3.45%		3.46%		3.51%		(0.15)%		(0.51)%
Cash, Securities and Other (1)		1.43%		1.87%		2.65%		2.71%		2.82%		(0.44)%		(1.39)%
Total Earning Assets		4.35%		4.39%		4.88%		4.97%		5.14%		(0.04)%		(0.79)%
Unsecured Debt (ex. Core OID & Core OID balance) (2)(5)		5.74%		6.11%		6.32%		6.20%		6.15%		(0.37)%		(0.41)%
Secured Debt		2.94%		2.64%		2.82%		2.92%		3.02%		0.30%		(0.08)%
Deposits (3)		1.35%		1.72%		1.97%		2.11%		2.22%		(0.37)%		(0.87)%
Other Borrowings (4)		2.36%		2.25%		2.34%		2.42%		2.48%		0.11%		(0.12)%
Total Funding Sources (ex. Core OID & Core OID balance) (2)		1.82%		2.13%		2.39%		2.51%		2.62%		(0.31)%		(0.80)%
NIM (as reported)		2.65%		2.40%		2.66%		2.64%		2.70%		0.25%		(0.05)%
NIM (ex. Core OID & Core OID balance) (2)		2.67%		2.42%		2.68%		2.66%		2.72%		0.25%		(0.05)%
Ally Bank Deposits
Key Deposit Statistics
Average retail CD maturity (months)		19.6		19.6		19.9		20.1		20.3		(0.1)		(0.8)
Average retail deposit rate		1.26%		1.64%		1.88%		2.02%		2.14%
End of Period Deposit Levels
Retail	$	120,789	$	115,813	$	106,068	$	103,734	$	101,295	$	4,976	$	19,494
Brokered & other (3)		14,149		15,223		16,256		17,018		17,935		(1,074)		(3,786)
Total deposits	$	134,938	$	131,036	$	122,324	$	120,752	$	119,230	$	3,902	$	15,708
Deposit Mix
Retail CD		34%		36%		38%		37%		36%
MMA/OSA/Checking		56%		53%		49%		49%		49%
Brokered (3)		10%		11%		13%		14%		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.

3Q 2020 Preliminary Results 19

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

($ in billions)

	HISTORICAL QUARTERLY TRENDS
Mortgage Finance HFI Portfolio	3Q 20		2Q 20		1Q 20		4Q 19		3Q 19
Loan Value
Gross carry value	$	15.2	$	16.4	$	15.9	$	16.2	$	15.8
Net carry value	$	15.1	$	16.4	$	15.9	$	16.2	$	15.8
Estimated Pool Characteristics
% Second lien		0.0%		0.0%		0.0%		0.0%		0.0%
% Interest only		0.0%		0.0%		0.0%		0.0%		0.0%
% 30+ Day delinquent (1)(2)		1.3%		0.6%		0.5%		0.5%		0.8%
% Low/No documentation		0.2%		0.2%		0.2%		0.1%		0.1%
% Non-primary residence		4.7%		4.6%		4.5%		4.5%		4.5%
Refreshed FICO (3)		776		774		772		774		774
Wtd. Avg. LTV/CLTV (4)		60.3%		60.4%		60.0%		60.3%		60.7%
Corporate Other Legacy Mortgage HFI Portfolio
Loan Value
Gross carry value	$	0.9	$	1.0	$	1.1	$	1.1	$	1.2
Net carry value	$	0.9	$	1.0	$	1.0	$	1.1	$	1.2
Estimated Pool Characteristics
% Second lien		12.6%		13.2%		13.6%		13.9%		14.0%
% Interest only		0.6%		0.1%		0.1%		0.1%		0.1%
% 30+ Day delinquent (1)(2)		4.7%		4.0%		5.1%		5.4%		5.2%
% Low/No documentation		24.0%		23.4%		23.1%		23.5%		23.2%
% Non-primary residence		7.1%		6.9%		7.1%		7.2%		7.1%
Refreshed FICO (3)		733		730		730		730		731
Wtd. Avg. LTV/CLTV (4)		59.2%		62.1%		63.0%		63.8%		64.5%

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

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

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

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

3Q 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	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
GAAP net income (loss) attributable to common shareholders	$	476		$	241		$	(319	)	$	378		$	381		$	235		$	95
Weighted-average common shares outstanding - basic (1)		375,658			375,051			375,723			380,793			390,205			606			(14,548	)
Weighted-average common shares outstanding - diluted (1)		377,011			375,762			375,723			383,391			392,604			1,250			(15,593	)
Issued shares outstanding (period-end)		373,857			373,837			373,155			374,332			383,523			20			(9,666	)
Net income (loss) per share - basic (1)	$	1.27		$	0.64		$	(0.85	)	$	0.99		$	0.98		$	0.62		$	0.29
Net income (loss) per share - diluted (1)	$	1.26		$	0.64		$	(0.85	)	$	0.99		$	0.97		$	0.62		$	0.29
Adjusted Earnings per Share (“Adjusted EPS”)
Numerator
GAAP net income (loss) attributable to common shareholders	$	476		$	241		$	(319	)	$	378		$	381		$	235		$	95
Discontinued operations, net of tax		-			1			-			3			-			(1	)		-
Core OID		9			9			8			8			7			0			2
Change in the fair value of equity securities (2)		(13	)		(90	)		185			(29	)		11			76			(25	)
Core OID & change in the fair value of equity securities tax (tax rate 21%)		1			17			(41	)		4			(4	)		(16	)		5
Repositioning and other (3)		-			50			-			-			-			(50	)		-
Core net income attributable to common shareholders (4)	$	473		$	228		$	(166	)	$	364		$	396		$	245		$	77
Denominator
Weighted-average common shares outstanding - diluted (1)		377,011			375,762			375,723			383,391			392,604			1,250			(15,593	)
Adjusted EPS (5)	$	1.25		$	0.61		$	(0.44	)	$	0.95		$	1.01		$	0.65		$	0.25
Memo
Original Issue Discount Amortization Expense
Core original issue discount (Core OID) amortization expense (6)	$	9		$	9		$	8		$	8		$	7		$	0		$	2
Other OID		3			4			3			3			3			(1	)		0
GAAP original issue discount amortization expense	$	12		$	12		$	11		$	11		$	11		$	0		$	1
Outstanding Original Issue Discount Balance
Core outstanding original issue discount balance (Core OID balance) (7)	$	(1,037	)	$	(1,046	)	$	(1,055	)	$	(1,063	)	$	(1,071	)	$	9		$	34
Other outstanding OID balance		(48	)		(46	)		(34	)		(37	)		(40	)		(2	)		(7	)
GAAP outstanding original issue discount balance	$	(1,084	)	$	(1,092	)	$	(1,089	)	$	(1,100	)	$	(1,111	)	$	8		$	27
Adjusted Other Revenue
GAAP Other Revenue	$	484		$	555		$	266		$	487		$	413		$	(71	)	$	71
Change in the fair value of equity securities (2)		(13	)		(90	)		185			(29	)		11			76			(25	)
Adjusted Other Revenue	$	471		$	465		$	451		$	458		$	424		$	5		$	46
Net Financing Revenue (ex. Core OID)
GAAP net financing revenue	$	1,200		$	1,054		$	1,146		$	1,156		$	1,188		$	146		$	12
Core OID		9			9			8			8			7			0			2
Net Financing Revenue (ex. Core OID)	$	1,209		$	1,063		$	1,154		$	1,164		$	1,195		$	146		$	14
Adjusted Noninterest Expense
GAAP Noninterest expense	$	905		$	985		$	920		$	880		$	838		$	(80	)	$	67
Repositioning and other (3)		-			(50	)		-			-			-			50			-
Adjusted Noninterest Expense	$	905		$	935		$	920		$	880		$	838		$	(30	)	$	67

(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, as applicable for respective periods

(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) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) excludes equity fair value adjustments (net of tax) related to ASU 2016-01 which requires change in the fair value of equity securities to be recognized in current period net income as compared to periods prior to 1/1/18 in which such adjustments were recognized through other comprehensive income, a component of equity, and (5) excludes significant discrete tax items that do not relate to the operating performance of the core businesses, and adjusts for preferred stock capital actions (e.g., Series A and Series G) that have been taken by the company to normalize its capital structure, as applicable for respective periods.

(6) Core original issue discount (Core OID) amortization expense is a non-GAAP financial measure for OID, and is believed by management to help the reader better understand the activity removed from: Core pre-tax income (loss), Core net income (loss) attributable to common shareholders, Adjusted EPS, Core ROTCE, Adjusted efficiency ratio, Adjusted total net revenue, and Net financing revenue (excluding Core OID). Core OID is primarily related to bond exchange OID which excludes international operations and future issuances.

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

3Q 2020 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 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20		3Q 19
Numerator
GAAP common shareholder’s equity	$	14.1		$	13.8		$	13.5		$	14.4		$	14.5		$	0.3	$	(0.3	)
Goodwill and identifiable intangibles, net of DTLs		(0.4	)		(0.4	)		(0.4	)		(0.5	)		(0.3	)		0.0		(0.1	)
Tangible common equity		13.7			13.4			13.1			14.0			14.2			0.3		(0.4	)
Tax-effected Core OID balance (21% tax rate)		(0.8	)		(0.8	)		(0.8	)		(0.8	)		(0.8	)		0.0		0.0
Adjusted tangible book value (1)	$	12.9		$	12.6		$	12.2		$	13.1		$	13.3		$	0.3	$	(0.4	)
Denominator
Issued shares outstanding (period-end, thousands)		373,857			373,837			373,155			374,332			383,523			20		(9,666	)
GAAP common shareholder’s equity per share	$	37.8		$	37.0		$	36.2		$	38.5		$	37.7		$	0.8	$	0.1
Goodwill and identifiable intangibles, net of DTLs per share		(1.0	)		(1.0	)		(1.2	)		(1.2	)		(0.7	)		0.0		(0.3	)
Tangible common equity per share		36.7			35.9			35.0			37.3			37.0			0.8		(0.2	)
Tax-effected Core OID balance (21% tax rate) per share		(2.2	)		(2.2	)		(2.2	)		(2.2	)		(2.2	)		0.0		0.0
Adjusted tangible book value per share (1)	$	34.6		$	33.7		$	32.8		$	35.1		$	34.7		$	0.8	$	(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 and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods.

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

3Q 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”)	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Numerator
GAAP net income attributable to common shareholders	$	476		$	241		$	(319	)	$	378		$	381		$	235		$	95
Discontinued operations, net of tax		-			1			-			3			-			(1	)		-
Core OID		9			9			8			8			7			0			2
Change in the fair value of equity securities (1)		(13	)		(90	)		185			(29	)		11			76			(25	)
Core OID & change in the fair value of equity securities tax (tax rate 21%) (1)		1			17			(41	)		4			(4	)		(16	)		5
Repositioning and other (2)		-			50			-			-			-			(50	)		-
Core net income attributable to common shareholders (3)	$	473		$	228		$	(166	)	$	364		$	396		$	245		$	77
Denominator (2-period average, $ billions)
GAAP shareholder’s equity	$	14.0		$	13.7		$	14.0		$	14.4		$	14.4		$	0.3		$	(0.4	)
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(0.4	)		(0.4	)		(0.4	)		(0.4	)		(0.3	)		0.0			(0.1	)
Tangible common equity	$	13.6		$	13.3		$	13.5		$	14.1		$	14.1		$	0.3		$	(0.5	)
Core OID balance		(1.0	)		(1.1	)		(1.1	)		(1.1	)		(1.1	)		0.0			0.0
Net deferred tax asset (“DTA”)		(0.1	)		(0.2	)		(0.1	)		-			(0.1	)		0.1			0.0
Normalized common equity (4)	$	12.4		$	12.0		$	12.3		$	13.0		$	12.9		$	0.4		$	(0.5	)
Core Return on Tangible Common Equity (5)		15.2%			7.6%			(5.4)%			11.2%			12.3%

(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, as applicable for respective periods.

(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 onetime items, tax-effected Core OID, fair value adjustments (net of tax) related to ASU 2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods

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

3Q 2020 Preliminary Results 23

ALLY FINANCIAL INC. ADJUSTED EFFICIENCY RATIO RELATED INFORMATION

($ in millions)

	QUARTERLY TREND															CHANGE VS.
Adjusted Efficiency Ratio Calculation	3Q 20			2Q 20			1Q 20			4Q 19			3Q 19			2Q 20			3Q 19
Numerator
GAAP Noninterest expense	$	905		$	985		$	920		$	880		$	838		$	(80	)	$	67
Rep and warrant expense		-			-			-			-			(0	)		-			0
Insurance expense		(268	)		(322	)		(256	)		(238	)		(247	)		54			(21	)
Repositioning and other (1)		-			(50	)		-			-			-			50			-
Adjusted noninterest expense for the efficiency ratio	$	637		$	613		$	664		$	642		$	591		$	24		$	46
Denominator
Total net revenue	$	1,684		$	1,609		$	1,412		$	1,643		$	1,601		$	75		$	83
Core OID		9			9			8			8			7			0			2
Insurance revenue		(346	)		(450	)		(151	)		(352	)		(303	)		104			(43	)
Adjusted net revenue for the efficiency ratio	$	1,347		$	1,168		$	1,269		$	1,299		$	1,305		$	179		$	42
Adjusted Efficiency Ratio (2)		47.3%			52.5%			52.3%			49.4%			45.3%

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

3Q 2020 Preliminary Results 24