Form 8-K - Current report

Share Name	Share Symbol	Market	Type
Ally Financial Inc	NYSE:ALLY	NYSE	Common Stock

	Price Change	% Change	Share Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-1.40	-3.15%	43.06	44.21	41.8934	42.99	3,235,372	18:14:24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

July 17, 2024

(Date of report; date of

earliest event reported)

Commission file number: 1-3754

ALLY FINANCIAL INC.

(Exact name of registrant as specified in its charter)

Delaware

38-0572512

(State or other jurisdiction

of incorporation or organization)

(I.R.S. Employer

Identification No.)

Ally Detroit Center

500 Woodward Ave.

Floor 10, Detroit, Michigan

48226

(Address of principal executive offices)

(Zip Code)

(866) 710-4623

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act (listed on the New York Stock Exchange):

Title of each class

Trading

symbols

Common Stock, par value $0.01 per share

ALLY

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operation and Financial Condition.

On July 17, 2024, Ally Financial Inc. issued a press release announcing preliminary operating results for the second quarter ended June 30, 2024. The press release is attached hereto and incorporated by reference as Exhibit 99.1. Charts furnished to securities analysts are attached hereto and incorporated by reference as Exhibit 99.2. In addition, supplemental financial data furnished to securities analysts is attached hereto and incorporated by reference as Exhibit 99.3.

Item 9.01

Financial Statements and Exhibits.


Exhibit No.		Description

99.1		Press Release, Dated July 17, 2024

99.2		Charts Furnished to Securities Analysts

99.3		Supplemental Financial Data Furnished to Securities Analysts

104		The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES

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


		ALLY FINANCIAL INC.
		(Registrant)

Dated: July 17, 2024		/s/ David J. DeBrunner
		David J. DeBrunner
		Vice President, Controller, and Chief Accounting Officer

Exhibit 99.1

News release: IMMEDIATE RELEASE

LOGO

Ally Financial Reports Second Quarter 2024 Financial Results


$0.86	9.3%	$257 million	$2.0 billion

GAAP EPS	RETURN ON COMMON EQUITY	PRE-TAX INCOME	GAAP TOTAL NET REVENUE

$0.97	14.0%	$299 million	$2.0 billion

ADJUSTED EPS¹	CORE ROTCE¹	CORE PRE-TAX INCOME¹	ADJUSTED TOTAL NET REVENUE¹


		• Strong quarter over quarter improvement in net interest margin and earnings following 1Q 2024 trough • NIM ex. OID¹of 3.30% is up 14 bps quarter over quarter as deposit costs have stabilized; well-positioned for various rate scenarios • Common equity tier 1 ratio of 9.6% increased 18 bps quarter over quarter; executed first credit risk transfer transaction in 2Q • $4 billion of excess CET1 above required minimums; preliminary stress capital buffer of 2.6% up from 2.5%, effective October 1^st

		• 3.7 million consumer auto applications and $9.8 billion of consumer auto origination volume • Retail auto originated yield¹of 10.59% with 44% of volume within highest credit quality tier • 181 bps retail auto net charge-offs, down 46 bps quarter over quarter due to seasonal trends • Insurance written premiums of $344 million, up 15% year over year; solid momentum in P&C and F&I • $142 billion of retail deposits, down $3 billion quarter over quarter from seasonal tax outflows • 61 consecutive quarters of retail deposit customer growth, up 54 thousand in 2Q; 3.2 million customers • 1.2 million active credit cardholders; balanced approach to growth • Corporate Finance HFI portfolio of $9.7 billion; criticized and non-performing assets near historic lows

		“In the second quarter, Ally delivered strong financial and operating results. We continue to execute within our market leading franchises, creating value for our customers by embracing our ‘Do It Right’ culture,” said Chief Executive Officer, Michael Rhodes. “The strength of our Dealer Financial Services franchise is evident in our scale. We decisioned 3.7 million consumer applications, a second quarter record, and originated nearly $10 billion retail loan and lease volume across the credit spectrum. Insurance written premiums of $344 million demonstrate our unique ability to provide comprehensive, all-in value to our dealer customers. At Ally Bank, we have established a model of banking through transparency and trust with our over three million customers that hold $142 billion of retail deposits. Our differentiated, all-digital approach provides value that extends beyond rates proven by our 61^stconsecutive quarter of deposit customer growth and over one million engaged savings customers. Ally has consistently demonstrated its commitment to our customers, employees, and communities through living out our purpose-driven ‘Do It Right’ culture of customer obsession and innovation – this will remain our blueprint for success in the years ahead. I’ve long admired Ally from a distance – I’m energized to lead this great company and l am looking forward to launching the next chapter of Ally’s evolution with my 11 thousand plus teammates.”


				Second Quarter 2024 Financial Results
				Second Quarter 2024 Financial Results


										*Increase / (Decrease) vs.*

($ millions except per share data)		2Q 24			1Q 24			2Q 23		*1Q 24*		*2Q 23*

GAAP Net Income Attributable to Common Shareholders	$	266		$	129		$	301		106	%	(12	) %

Core Net Income Attributable to Common Shareholders¹	$	299		$	139		$	291		116	%	3	%

GAAP Earnings per Common Share	$	0.86		$	0.42		$	0.99		105	%	(13	) %

Adjusted EPS¹	$	0.97		$	0.45		$	0.96		115	%	1	%

Return on GAAP Shareholder’s Equity		9.3	%		4.5	%		10.8	%	105	%	(14	) %

Core ROTCE¹		14.0	%		6.5	%		13.9	%	117	%	1	%

GAAP Common Shareholder’s Equity per Share	$	37.84		$	37.28		$	37.16		1	%	2	%

Adjusted Tangible Book Value per Share¹	$	33.51		$	32.89		$	32.08		2	%	4	%

GAAP Total Net Revenue	$	2,000		$	1,986		$	2,079		1	%	(4	) %

Adjusted Total Net Revenue¹	$	2,042		$	1,989		$	2,066		3	%	(1	) %

¹ The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Adjusted Earnings per Share (Adjusted EPS), Adjusted Total Net Revenue, Core Pre-Tax Income, Core Net Income Attributable to Common Shareholders, Core OID, Core Return on Tangible Common Equity (Core ROTCE), Estimated Retail Auto Originated Yield, Tangible Common Equity, Net Financing Revenue (excluding Core OID) and Adjusted Tangible Book Value per Share (Adjusted TBVPS). These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms, and Reconciliation to GAAP later in this release.

LOGO


		Discussion of Second Quarter 2024 Results
		Discussion of Second Quarter 2024 Results
Net income attributable to common shareholders was $266 million in the quarter, compared to $301 million in the second quarter of 2023. The decrease was driven by lower net financing revenue, higher provision for credit losses, and higher noninterest expenses. Net financing revenue was $1.5 billion, down $78 million year over year primarily driven by higher funding costs, partially offset by the strength in retail auto loan pricing and continued expansion of earning asset yields. Other revenue decreased $1 million year over year to $505 million including a $28 million decrease in fair value of equity securities in the quarter compared to a $25 million increase in the second quarter of 2023. Adjusted other revenue^A, excluding the change in fair value of equity securities, of $533 million increased $52 million year over year, driven by momentum within Insurance and diversified fee revenue from SmartAuction and Passthrough platforms. Net interest margin (“NIM”) of 3.27% decreased 11 bps year over year. Excluding Core OID^A, NIM of 3.30% was also down 11 bps year over year, due to higher funding costs, partially offset by continued strength in new origination yields. Provision for credit losses increased $30 million year over year to $457 million, reflecting higher net charge-offs. Noninterest expense increased $37 million year over year primarily driven by higher weather losses in Insurance and higher servicing expense within Auto. A tax benefit of $37 million resulted from an effective tax rate of (14%) in the quarter driven by strong EV lease originations.

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


		Second Quarter 2024 Financial Results
		Second Quarter 2024 Financial Results


							*Increase/(Decrease) vs.*
($ millions except per share data)	2Q 24		1Q 24		2Q 23		1Q 24		2Q 23

(a) Net Financing Revenue	$	1,495	$	1,456	$	1,573	$	39	$	(78)

Core OID¹		14		13		12		1		2

Net Financing Revenue (excluding Core OID)¹		1,509		1,469		1,585		40		(76)

(b) Other Revenue		505		530		506		(25)		(1)

Change in Fair Value of Equity Securities²		28		(11)		(25)		39		53

Adjusted Other Revenue¹		533		519		481		14		52

(c) Provision for Credit Losses		457		507		427		(50)		30

(d) Noninterest Expense		1,286		1,308		1,249		(22)		37

Repositioning³		-		(10)		-		10		-

Noninterest Expense (excluding Repositioning)¹		1,286		1,298		1,249		(12)		37

Pre-Tax Income (a+b-c-d)	$	257	$	171	$	403	$	86	$	(146)

Income Tax Expense (Benefit)		(37)		14		74		(51)		(111)

Net Loss from Discontinued Operations		-		-		-		-		-

Net Income	$	294	$	157	$	329	$	137	$	(35)

Preferred Dividends		28		28		28		-		-

Net Income Attributable to Common Shareholders	$	266	$	129	$	301	$	137	$	(35)

GAAP EPS (diluted)	$	0.86	$	0.42	$	0.99	$	0.44	$	(0.13)

Core OID, Net of Tax¹		0.04		0.03		0.03		0.00		0.00

Change in Fair Value of Equity Securities, Net of Tax³		0.07		(0.03)		(0.06)		0.10		0.14

Repositioning, Discontinued Ops., and Other, Net of Tax³		-		0.02		-		(0.02)		-

Adjusted EPS¹	$	0.97	$	0.45	$	0.96	$	0.52	$	0.01

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

(2)

Impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’s ongoing ability to generate revenue and income.

(3)	Contains non-GAAP financial measures and other financial measures. See pages 5 and 6 for definitions.

Note: Repositioning items represent costs associated with the FDIC Special Assessment in 1Q'24.

LOGO


		Pre-Tax Income by Segment
		Pre-Tax Income by Segment


							Increase/(Decrease) vs.
($ millions)	2Q 24		1Q 24		2Q 23		1Q 24		2Q 23

Automotive Finance	$	407	$	322	$	501	$	85	$	(94)

Insurance		(42)		70		8		(112)		(50)

Dealer Financial Services	$	365	$	392	$	509	$	(27)	$	(144)

Corporate Finance		98		90		72		8		26

Mortgage Finance		27		25		21		2		6

Corporate and Other		(233)		(336)		(199)		103		(34)

Pre-Tax Income from Continuing Operations	$	257	$	171	$	403	$	86	$	(146)

Core OID¹		14		13		12		1		2

Change in Fair Value of Equity Securities^2,3		28		(11)		(25)		39		53

Repositioning and Other³		-		10		-		(10)		-

Core Pre-Tax Income¹	$	299	$	183	$	390	$	116	$	(91)

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

(2)	Change in fair value of equity securities primarily impacts the Insurance, Corporate Finance, and Corporate and Other segments. Reflects equity fair value adjustments which requires change in the fair value of equity securities to be recognized in current period net income.

(3)	Contains non-GAAP financial measures and other financial measures. See pages 5 and 6 for definitions.


		Discussion of Segment Results
		Discussion of Segment Results

Auto Finance

Pre-tax income of $407 million was down $94 million year over year, primarily driven by higher net charge-offs and noninterest expense.

Net financing revenue of $1,314 million was down $35 million year over year, driven by elevated funding costs. Ally’s retail auto portfolio yield, excluding the impact from hedges, increased 99 bps year over year to 8.86% as the portfolio turns over and reflects higher originated yields from recent periods.

Provision for credit losses of $383 million increased $52 million year over year, driven by higher retail auto net charge-offs. The retail auto net charge-off rate was 1.81%.

Noninterest expense of $617 million was up $17 million year over year primarily driven by servicing-related expenses.

Consumer auto originations of $9.8 billion included $6.1 billion of used retail volume, or 62% of total originations, $2.8 billion of new retail volume, and $0.9 billion of leases. Estimated retail auto originated yield^B was 10.59% in the quarter with 44% of originations in the highest credit quality tier.

End-of-period auto earning assets increased $1.9 billion year over year from $115.4 billion to $117.3 billion. End-of-period consumer auto earning assets of $92.1 billion decreased $2.6 billion year over year, driven by retail auto loan sales in recent periods. End-of-period commercial earning assets of $25.2 billion were $4.5 billion higher year over year, driven by higher new vehicle inventory.

Insurance

Pre-tax loss of $42 million was $50 million unfavorable year over year. Results reflect a $52 million decrease in the change in fair value of equity securities. Core pre-tax loss^C of $14 million increased $2 million year over year, which was supported by $344 million of earned premiums in the quarter.

Insurance losses of $181 million were up $47 million year over year, driven by higher weather losses and higher GAP losses due to higher loan-to-values given normalization in used vehicle values.

Written premiums of $344 million, up 15% year over year, driven by growth in both P&C and F&I premiums.

Total investment income, excluding the change in fair value of equity securities^D, was $52 million, up $22 million year over year driven by higher realized investment gains.

^BEstimated Retail Auto Originated Yield is a forward-looking non-GAAP financial measure determined by calculating the estimated average annualized yield for loans originated during the period. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

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

^DChange in the fair value of equity securities to be recognized in current period net income. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms and Reconciliation to GAAP later in this press release.

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Corporate Finance

Pre-tax income of $98 million was up $26 million year over year driven by higher net financing revenue and lower provision expense.

Net financing revenue increased $12 million year over year to $104 million primarily driven by higher income spreads and elevated fees from loan payoffs. Other revenue of $30 million was up $2 million year over year.

Provision expense of $3 million was down $12 million year over year primarily driven by prior period specific reserve build.

The held-for-investment loan portfolio of $9.7 billion is effectively all first lien. Loans secured by commercial real estate of $1.4B continue to perform well.

Mortgage Finance

Pre-tax income of $27 million was up $6 million year over year, primarily driven by lower noninterest expense reflecting the benefit of the variable cost direct-to-consumer partnership model.

Net financing revenue and other revenue were both flat year over year at $53 million and $5 million, respectively.

Direct-to-consumer originations totaled $261 million in the quarter, predominantly held-for-sale.

Existing Ally Bank deposit customers accounted for more than 70% of the quarter’s direct-to-consumer origination volume, continuing to highlight the strong customer value proposition.


		Capital, Liquidity & Deposits
		Capital, Liquidity & Deposits

Capital

Ally paid a $0.30 per share quarterly common dividend, which was unchanged year over year. Ally’s board of directors approved a $0.30 per share common dividend for the third quarter of 2024. Ally did not repurchase any shares on the open market during the quarter.

Ally’s common equity tier 1 (CET1) capital ratio was 9.6%, and risk weighed assets (RWA) decreased from $158.3 billion in the first quarter to $157.5 billion. Within the quarter, Ally closed a credit risk transfer transaction, which generated 11 bps of CET1 and reduced RWA on the $3 billion reference pool from 100% to 38%.

Liquidity & Funding

Liquid cash and cash equivalents^E totaled $6.7 billion, down from $7.4 billion at the end of the first quarter. Highly liquid securities were $18.9 billion and unused pledged borrowing capacity at the FHLB and FRB was $12.2 billion and $26.5 billion, respectively. Total current available liquidity^F was $64.3 billion, equal to 5.7x uninsured deposit balances.

Deposits represented 89% of Ally’s funding portfolio.

Deposits

Retail deposits of $142.1 billion were up $3.1 billion year over year, and down $3.1 billion quarter over quarter driven by seasonal tax outflows. Total deposits were $152.2 billion and Ally maintained industry-leading customer retention^G at 96%.

The average retail portfolio deposit rate was 4.18%, up 50 bps year over year and down 7 bps quarter over quarter.

Ally Bank continues to demonstrate strong customer acquisition with 54 thousand net new deposit customers, now totaling 3.2 million customers, up 11% year over year. Millennials and younger customers continue to comprise the largest generation segment of new customers, accounting for 74% of new customers in the quarter. Approximately 10% or 323 thousand deposit customers maintained an Ally Invest, Ally Home or Ally Credit Card relationship.

^ECash & cash equivalents may include the restricted cash accumulation for retained notes maturing within the following 30 days and returned to Ally on the distribution date. See page 18 of the Financial F Supplement for more details.

^FTotal liquidity includes cash & cash equivalents, highly liquid securities and current unused borrowing capacity at the FHLB, and FRB Discount Window. See page 18 of the Financial Supplement for more G details.

^GSee definitions of non-GAAP financial measures and other key terms later in this document for more details.

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		Definitions of Non-GAAP Financial Measures and Other Key Terms

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

Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, (4) change in fair value of equity securities, (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 that have been taken by the company to normalize its capital structure, as applicable for respective periods. See page 6 for calculation methodology and details.

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

(1)

In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax-effected repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, change in fair value of equity securities, 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.

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

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

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

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

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

Core Pre-Tax Income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, and (2) change in fair value of equity securities (change in fair value of equity securities impacts the Insurance and Corporate Finance segments), and (3) Repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods or businesses. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. See the Pre-Tax Income by Segment Table on page 3 for calculation methodology and details.

Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including Tangible Common Equity. Ally believes that Tangible Common Equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core Return on Tangible Common Equity (Core ROTCE), Tangible Common Equity is further adjusted for Core OID balance and net deferred tax asset. See page 6 for calculation methodology & details.

Net Interest Margin (excluding Core OID) is calculated using a non-GAAP measure that adjusts net interest margin by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net interest margin ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’ profitability and margins.

Net Financing Revenue (excluding Core OID) is calculated using a non-GAAP measure that adjusts net financing revenue by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net financing revenue ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’ ability to generate revenue.

Adjusted Other Revenue is a non-GAAP financial measure that adjusts GAAP other revenue for OID expenses, repositioning, and change in fair value of equity securities. Management believes adjusted other revenue is a helpful financial metric because it enables the reader better understand the business’ ability to generate other revenue.

Adjusted Total Net Revenue is a non-GAAP financial measure that management believes is helpful for readers to understand the ongoing ability of the company to generate revenue. For purposes of this calculation, GAAP net financing revenue is adjusted by excluding Core OID to calculate net financing revenue ex. core OID. GAAP other revenue is adjusted for OID expenses, repositioning, and change in fair value of equity securities to calculate adjusted other revenue. Adjusted total net revenue is calculated by adding net financing revenue ex. core OID to adjusted other revenue.

Adjusted Noninterest Expense is a non-GAAP financial measure that adjusts GAAP noninterest expense for repositioning items. Management believes adjusted noninterest expense is a helpful financial metric because it enables the reader better understand the business’ expenses excluding nonrecurring items.

Adjusted Provision for Credit Losses is a non-GAAP financial measure that adjusts GAAP provision for credit losses for repositioning items. Management believes adjusted provision for credit losses is a helpful financial metric because it enables the reader to better understand the business’s expenses excluding nonrecurring items.

Estimated Retail Auto Originated Yield is a financial measure determined by calculating the estimated average annualized yield for loans originated during the period. At this time there currently is no comparable GAAP financial measure for Estimated Retail Auto Originated Yield and therefore this forecasted estimate of yield at the time of origination cannot be quantitatively reconciled to comparable GAAP information.

Net Charge-Off Ratios are annualized net charge-offs divided by average outstanding finance receivables and loans excluding loans measured at fair value and loans held-for-sale.

Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt.

Customer retention rate is the annualized 3-month rolling average of 1 minus the monthly attrition rate; excludes escheatment.

Repositioning is primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, and significant other one-time items.

Corporate and Other primarily consists of activity related to centralized corporate treasury activities such as management of the cash and corporate investment securities and loan portfolios, short- and long-term debt, retail and brokered deposit liabilities, derivative instruments, the amortization of the discount associated with new debt issuances and bond exchanges, and the residual impacts of our corporate FTP and treasury ALM activities. Corporate and Other also includes certain equity investments, the management of our legacy mortgage portfolio, and reclassifications and eliminations between the reportable operating segments. Subsequent to June 1, 2016, the revenue and expense activity associated with Ally Invest was included within the Corporate and Other segment. Subsequent to October 1, 2019, the revenue and expense activity associated with Ally Lending was included within the Corporate and Other segment. Ally Lending was moved to Assets of Operations Held for Sale on December 31, 2023. The sale of Ally Lending closed on March 1, 2024. Subsequent to December 1, 2021, the revenue and expense activity associated with Ally Credit Card was included within the Corporate and Other segment.

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Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income.

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


		Reconciliation to GAAP
		Reconciliation to GAAP


Adjusted Earnings per Share

*Numerator ($ millions)*		2Q 24			1Q 24			2Q 23

GAAP Net Income Attributable to Common Shareholders		$	266		$	129		$	301

Discontinued Operations, Net of Tax			-			-			-

Core OID			14			13			12

Repositioning and Other			-			10			-

Change in the Fair Value of Equity Securities			28			(11	)		(25	)

Tax on: Core OID & Change in Fair Value of Equity Securities (21% tax rate)			(9	)		(3	)		3

Core Net Income Attributable to Common Shareholders	[a]	$	299		$	139		$	291

*Denominator*

Weighted-Average Common Shares Outstanding - (Diluted, thousands)	[b]		309,886			308,421			304,646

Adjusted EPS	[a] ÷ [b]	$	0.97		$	0.45		$	0.96


Core Return on Tangible Common Equity (ROTCE)

*Numerator ($ millions)*		2Q 24			1Q 24			2Q 23

GAAP Net Income Attributable to Common Shareholders		$	266		$	129		$	301

Discontinued Operations, Net of Tax			-			-			-

Core OID			14			13			12

Repositioning and Other			-			10			-

Change in Fair Value of Equity Securities			28			(11	)		(25	)

Tax on: Core OID & Change in Fair Value of Equity Securities (21% tax rate)			(9	)		(3	)		3

Core Net Income Attributable to Common Shareholders	[a]	$	299		$	139		$	291

*Denominator (Average, $ millions)*

GAAP Shareholder’s Equity		$	13,754		$	13,712		$	13,455

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

GAAP Common Shareholder’s Equity		$	11,430			11,388		$	11,131

Goodwill & Identifiable Intangibles, Net of Deferred Tax Liabilities (DTLs)			(717	)		(723	)		(891	)

Tangible Common Equity		$	10,713		$	10,664		$	10,240

Core OID Balance			(773	)		(786	)		(824	)

Net Deferred Tax Asset (DTA)			(1,388	)		(1,278	)		(1,060	)

Normalized Common Equity	[b]	$	8,553		$	8,600		$	8,357

Core Return on Tangible Common Equity	[a] ÷ [b]		14.0	%		6.5	%		13.9	%

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Adjusted Tangible Book Value per Share

*Numerator ($ millions)*			2Q 24			1Q 24			2Q 23

GAAP Shareholder’s Equity			$	13,851		$	13,657		$	13,532

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

GAAP Common Shareholder’s Equity			$	11,527		$	11,333		$	11,208

Goodwill and Identifiable Intangible Assets, Net of DTLs				(713	)		(720	)		(887	)

Tangible Common Equity				10,814			10,613			10,321

Tax-effected Core OID Balance (21% tax rate)				(605	)		(616	)		(646	)

Adjusted Tangible Book Value		[a]	$	10,209		$	9,997		$	9,675

*Denominator*

Issued Shares Outstanding (period-end, thousands)	[b]		304,656			303,978			301,619

*Metric*

GAAP Common Shareholder’s Equity per Share			$	37.84		$	37.28		$	37.16

Goodwill and Identifiable Intangible Assets, Net of DTLs per Share				(2.34	)		(2.37	)		(2.94	)

Tangible Common Equity per Share			$	35.50		$	34.91		$	34.22

Tax-effected Core OID Balance (21% tax rate) per Share				(1.99	)		(2.03	)		(2.14	)

Adjusted Tangible Book Value per Share		[a] ÷ [b]	$	33.51		$	32.89		$	32.08


Adjusted Efficiency Ratio

*Numerator ($ millions)*			2Q 24			1Q 24			2Q 23

GAAP Noninterest Expense			$	1,286		$	1,308		$	1,249

Insurance Expense				(410	)		(343	)		(358	)

Repositioning and Other				-			(10	)		-

Adjusted Noninterest Expense for Adjusted Efficiency Ratio		[a]	$	876		$	955		$	891

*Denominator ($ millions)*

Total Net Revenue			$	2,000		$	1,986		$	2,079

Core OID				14			13			12

Insurance Revenue				(368	)		(413	)		(366	)

Adjusted Net Revenue for Adjusted Efficiency Ratio		[b]	$	1,646		$	1,586		$	1,725

Adjusted Efficiency Ratio		[a] ÷ [b]		53.2	%		60.2	%		51.7	%

Original Issue Discount Amortization Expense ($ millions)

			2Q 24			1Q 24			2Q 23

GAAP Original Issue Discount Amortization Expense			$	17		$	17		$	15

Other OID				(3	)		(3	)		(3	)

Core Original Issue Discount (Core OID) Amortization Expense			$	14		$	13		$	12

Outstanding Original Issue Discount Balance ($ millions)

			2Q 24			1Q 24			2Q 23

GAAP Outstanding Original Issue Discount Balance			$	(797	)	$	(815	)	$	(863	)

Other Outstanding OID Balance				31			35			45

Core Outstanding Original Issue Discount Balance (Core OID Balance)			$	(766	)	$	(779	)	$	(818	)

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($ millions)

Net Financing Revenue (Excluding Core OID)

2Q 24

1Q 24

2Q 23

GAAP Net Financing Revenue

[w]

1,495

1,456

1,573

Core OID

Net Financing Revenue (Excluding Core OID)

[a]

1,509

1,469

1,585

Adjusted Other Revenue

2Q 24

1Q 24

2Q 23

GAAP Other Revenue

[x]

505

530

506

Change in Fair Value of Equity Securities

(11

)

(25

)

Adjusted Other Revenue

[b]

533

519

481

Adjusted Total Net Revenue

2Q 24

1Q 24

2Q 23

Adjusted Total Net Revenue

[a]+[b]

2,042

1,989

2,066

Adjusted Provision for Credit Losses

2Q 24

1Q 24

2Q 23

GAAP Provision for Credit Losses

[y]

457

507

427

Adjusted Provision for Credit Losses

[c]

457

507

427

Adjusted NIE (Excluding Repositioning)

2Q 24

1Q 24

2Q 23

GAAP Noninterest Expense

[z]

1,286

1,308

1,249

Repositioning

(10

)

Adjusted NIE (Excluding Repositioning)

[d]

1,286

1,298

1,249

Core Pre-Tax Income

2Q 24

1Q 24

2Q 23

Pre-Tax Income

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

257

171

403

Core Pre-Tax Income

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

299

183

390


Insurance Non-GAAP Walk to Core Pre-Tax Income

	2Q 2024								2Q 2023

*($ millions)* Insurance		GAAP			Change in the fair value of equity securities		Non-GAAP¹			GAAP		Change in the fair value of equity securities			Non-GAAP¹

Premiums, Service Revenue Earned and Other	$	344		$	-	$	344		$	312	$	-		$	312

Losses and Loss Adjustment Expenses		181			-		181			134		-			134

Acquisition and Underwriting Expenses		229			-		229			224		-			224

Investment Income and Other		24			28		52			54		(24	)		30

Pre-Tax Income from Continuing Operations	$	(42	)	$	28	$	(14	)	$	8	$	(24	)	$	(16	)

¹Non-GAAP line items walk to Core Pre-Tax Income, a non-GAAP financial measure that adjusts Pre-Tax Income.

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		Additional Financial Information
		Additional Financial Information

For additional financial information, the second quarter 2024 earnings presentation and financial supplement are available in the Events & Presentations section of Ally’s Investor Relations Website at http://www.ally.com/about/investor/events-presentations/.

About Ally Financial Inc.

Ally Financial Inc. (NYSE: ALLY) is a financial services company with the nation’s largest all-digital bank and an industry-leading auto financing business, driven by a mission to “Do It Right” and be a relentless ally for customers and communities. The company serves approximately 11 million customers through a full range of online banking services (including deposits, mortgage, and credit card products) and securities brokerage and investment advisory services. The company also includes a robust corporate finance business that offers capital for equity sponsors and middle-market companies, as well as auto financing and insurance offerings. For more information, please visit www.ally.com.

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

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

Forward-Looking Statements

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

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

Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2023, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent SEC filings.

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

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


Contacts:
Sean Leary		Peter Gilchrist
Ally Investor Relations		Ally Communications (Media)
704-444-4830		704-644-6299
sean.leary@ally.com		peter.gilchrist@ally.com

Exhibit 99.2

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Ally Financial Inc. 2Q 2024 Earnings Review July 17, 2024 Contact Ally Investor Relations at (866) 710-4623 or investor.relations@ally.com

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2Q 2024 Preliminary Results Forward-Looking Statements and Additional Information This presentation and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based on company and third-party data available at the time of the presentation or related communication. This presentation and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts—such as statements about the outlook for financial and operating metrics and performance and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2023, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent SEC filings. This presentation and related communications contain specifically identified non-GAAP financial measures, which supplement the results that are reported according to U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures may be useful to investors but should not be viewed in isolation from, or as a substitute for, GAAP results. Differences between non-GAAP financial measures and comparable GAAP financial measures are reconciled in the presentation. Unless the context otherwise requires, the following definitions apply. The term “loans” means the following consumer and commercial products associated with our direct and indirect financing activities: loans, retail installment sales contracts, lines of credit, and other financing products excluding operating leases. The term “operating leases” means consumer- and commercial-vehicle lease agreements where Ally is the lessor and the lessee is generally not obligated to acquire ownership of the vehicle at lease-end or compensate Ally for the vehicle’s residual value. The terms “lend,” “finance,” and “originate” mean our direct extension or origination of loans, our purchase or acquisition of loans, or our purchase of operating leases, as applicable. The term “consumer” means all consumer products associated with our loan and operating-lease activities and all commercial retail installment sales contracts. The term “commercial” means all commercial products associated with our loan activities, other than commercial retail installment sales contracts. The term “partnerships” means business arrangements rather than partnerships as defined by law. 2

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2Q 2024 Preliminary Results GAAP and Core Results: Quarterly Quarterly Trend ($ millions, except per share data) 2Q 24 1Q 24 4Q 23 3Q 23 2Q 23 GAAP net income attributable to common shareholders (NIAC) $266 $129 $49 $269 $301 Core net income attributable to common shareholders (1)(2) $299 $139 $137 $252 $291 GAAP earnings per common share (EPS)(diluted, NIAC) $0.86 $0.42 $0.16 $0.88 $0.99 Adjusted EPS (1)(2) $0.97 $0.45 $0.45 $0.83 $0.96 Return on GAAP common shareholders’ equity 9.3% 4.5% 1.8% 9.9% 10.8% Core ROTCE (1)(2) 14.0% 6.5% 6.9% 12.9% 13.9% GAAP common shareholders’ equity per share $37.84 $37.28 $37.83 $34.81 $37.16 Adjusted tangible book value per share (Adjusted TBVPS) (1)(2) $33.51 $32.89 $33.36 $29.79 $32.08 Efficiency ratio 64.3% 65.9% 68.5% 62.6% 60.1% Adjusted efficiency ratio (1)(2) 53.2% 60.2% 55.7% 52.1% 51.7% GAAP total net revenue $2,000 $1,986 $2,067 $1,968 $2,079 Adjusted total net revenue (1)(2) $2,042 $1,989 $2,006 $2,036 $2,066 Effective tax rate -14.4% 8.2% -20.3% -29.8% 18.4% (1) The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), and Tangible Common Equity. These measures are used by management, and we believe are useful to investors in assessing the company’s operating performance and capital. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms, and Reconciliation to GAAP later in this document. (2) Non-GAAP financial measure – see pages 27 – 29 for definitions. 3

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2Q 2024 Preliminary Results Purpose-Driven Culture Powered by our “LEAD” core values and “Do it Right” approach L ook externally E xecute with excellence A ct with professionalism D eliver results Customers Communities Employees “Do It Right” culture of Impact the communities Invest in our people and customer obsession in which we live and work culture to drive purpose 4

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2Q 2024 Preliminary Results Dealer Financial Services Comprehensive product suite with high-tech, high-touch approach Auto Finance Insurance Consumer Lending Commercial Lending SmartAuction & Commercial P&C Consumer F&I Retail, Lease, Floorplan, Dealer Passthrough Inventory insurance, VSC, GAP and other Direct-to-Consumer loans Specialty products Garage coverage products $92B Assets $25B Assets Capital light and 4K P&C Dealers | 2K F&I Dealers 3.8M Consumers 3K Active dealers diversified fee revenue Continuing to leverage synergies with auto The largest bank auto finance franchise in the U.S.(1) 2014 2024 4.5K Ally teammates Dealer Relationships 15.6K 22.0K ~1K related tocollections Consumer Applications 9.1M 14M+ ~600 underwriters with an Approval Automation 30% 74% average tenure of 12+ years % Used Originations 29% 65% Partnering with those evolving the industry Originated Spread(2) 4.7% 6.4% Note: Consumer applications represents estimated full-year results See page 31 for definitions and details. 5

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2Q 2024 Preliminary Results Ally Bank Largest, all-digital, direct U.S. bank with market leading deposits franchise Deposits Customers 1.2M Deposits | Engaged(5) 938K “Best Online Bank” list by MONEY® Magazine(1) 649K 3.2M Deposit customers | 96% customer retention(2) 63K 79K 129K $142.1B Retail deposit balances | 92% FDIC Insured(3) 3.2M 2.7M 90% Customer satisfaction rate(4) 2.3M 1.6M 1.2M 1.2M Savings customers engaged with core products(5) 0.9M 10% of Depositors with Invest, Home or Card relationship 2014 2016 2018 2020 2022 2Q24 A relentless Ally for our customers offering differentiated & frictionless experiences Invest Home Card Corp. Finance Seamless money Digital end-to-end Digital-first product with Diversified revenue with 25 movement with deposits customer experience an accretive return profile years of steady returns 80%+ of new accounts from 70%+ of DTC originations from Floating rate asset with depositors existing depositors attractive risk adj. margins 34% 2Q Return on Equity $13B of deposit balances held New originations 1.2M active cardholders; ~100% First lien position by invest customers predominantly held-for-sale $2.0B of outstanding balances See page 31 for definitions and details. 6

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2Q 2024 Preliminary Results 2Q 2024 Quarterly Highlights $0.86 |$0.97 9.3% |14.0% $2.0B |$2.0B 3.30% 10.59% GAAP Adjusted Return on Core GAAP Adj. Total NIM Est. Retail EPS EPS(1) Common Equity RoTCE(1) Net Revenue Net Revenue(1) (ex. OID)(2) Originated Yield(3) 2Q Financial Highlights • Strong quarter over quarter improvement in net interest margin and earnings following 1Q 2024 trough • NIM ex. OID(2) of 3.30% is up 14bps quarter over quarter as deposit costs have stabilized; well-positioned for various rate scenarios • Common equity tier 1 ratio of 9.6% increased 18bps quarter over quarter; executed first credit risk transfer transaction in 2Q • $4 billion of excess CET1 above required minimums; preliminary stress capital buffer of 2.6% up from 2.5%, effective October 1st 2Q Operational Highlights Dealer • 3.7 million consumer auto applications and $9.8 billion of consumer auto origination volume Financial • Retail auto originated yield(3) of 10.59% with 44% of volume within highest credit quality tier Services • 181bps retail auto net charge-offs, down 46bps quarter over quarter due to seasonal trends • Insurance written premiums of $344 million, up 15% year over year; solid momentum in P&C and F&I Consumer & • $142 billion of retail deposits, down $3 billion quarter over quarter from seasonal tax outflows • 61 consecutive quarters of retail deposit customer growth, up 54 thousand in 2Q; 3.2 million customers Commercial • 1.2 million active credit cardholders; balanced approach to growth Banking(4) • Corporate Finance HFI portfolio of $9.7 billion; criticized and non-performing assets near historic lows (1) Non-GAAP financial measure. See pages 27 – 29 for definitions. (2) Calculated using a Non-GAAP financial measure. See pages 27 – 29 for definitions. (3) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 30 for details. (4) Consumer and Commercial Banking activity is within ‘Corporate and Other’ and ‘Corporate Finance’. Note: Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, and a variety of deposit and other banking products, a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies. Additionally, we offer securities-brokerage and investment advisory services through Ally Invest. 7

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2Q 2024 Preliminary Results 2Q 2024 Financial Results Consolidated Income Statement—Quarterly Results Increase / (Decrease) vs. ($ millions; except per share data) 2Q 24 1Q 24 2Q 23 1Q 24 2Q 23 Net financing revenue $1,495 $1,456 $1,573 $39 $(78) Core OID (1) 14 13 12 1 2 Net financing revenue (ex. Core OID) (1) 1,509 1,469 1,585 40 (76) Other revenue $505 $530 $506 $(25) $(1) Change in fair value of equity securities (2) 28 (11) (25) 39 53 Adjusted other revenue (1) 533 519 481 14 52 Provision for credit losses $457 $507 $427 $(50) $30 Memo: Net charge-offs 435 539 399 (104) 36 Memo: Provision build / (release) 22 (32) 28 54 (6) Adjusted provision for credit losses (1) 457 507 427 (50) 30 Noninterest expense $1,286 $1,308 $1,249 $(22) $37 Repositioning Items (2) - (10)—10 -Adjusted noninterest expense (1) 1,286 1,298 1,249 (12) 37 Pre-tax income $257 $171 $403 $86 $(146) Income tax expense / (benefit) Includes $92M in EV lease tax credits (37) 14 74 (51) (111) Net income (loss) from discontinued operations - — —Net income $294 $157 $329 $137 $(35) Preferred dividends 28 28 28 —Net income attributable to common shareholders $266 $129 $301 $137 $(35) GAAP EPS (diluted) $0.86 $0.42 $0.99 $0.44 $(0.13) Core OID, net of tax (1) 0.04 0.03 0.03 0.00 0.00 Change in fair value of equity securities, net of tax (2) 0.07 (0.03) (0.06) 0.10 0.14 Repositioning, discontinued ops., and other, net of tax (2) - 0.02—(0.02)—Adjusted EPS (1) $0.97 $0.45 $0.96 $0.52 $0.01 (1) Non-GAAP financial measure. See pages 27 – 29 for definitions. (2) Contains Non-GAAP financial measures and other financial measures. See pages 27 – 29 for definitions. Note: Repositioning items represent FDIC special assessment fee in 1Q ’24 8

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2Q 2024 Preliminary Results Balance Sheet and Net Interest Margin 2Q ‘24 1Q ‘24 2Q ‘23 Average Average Average Balance Yield Balance Yield Balance Yield Retail Auto Loans (ex. hedge) $83,427 8.86% $84,056 8.65% $84,097 7.87% Memo: Impact from hedges 0.33% 0.42% 0.94% Retail Auto Loans (inc. hedge) $83,427 9.19% $84,056 9.07% $84,097 8.81% Auto Leases (net of depreciation) 8,619 7.28% 8,955 6.85% 10,110 7.60% Commercial Auto 24,424 7.12% 23,172 7.12% 19,709 6.94% Corporate Finance 10,079 10.06% 10,937 9.88% 10,240 9.15% Mortgage(1) 18,302 3.26% 18,578 3.25% 19,325 3.22% Consumer Other—Ally Lending(2) — 1,274 8.77% 2,114 9.99% Consumer Other—Ally Credit Card 2,001 21.59% 1,975 21.61% 1,701 21.88% Cash and Cash Equivalents 7,311 4.87% 7,709 5.04% 7,401 4.70% Investment Securities & Other(3) 29,542 3.66% 30,274 3.60% 31,958 3.17% Earning Assets $183,705 7.36% $ 186,930 7.27% $ 186,655 6.99% Total Loans and Leases (3) 147,160 8.22% 149,281 8.12% 147,717 7.93% Deposits(4) $152,412 4.21% $155,352 4.28% $152,382 3.74% Unsecured Debt 10,280 7.23% 10,504 7.16% 10,618 6.27% Secured Debt 1,227 6.08% 1,409 5.74% 2,879 5.61% Other Borrowings(5) 7,114 3.86% 7,122 3.63% 7,592 3.00% Funding Sources $171,033 4.39% $174,387 4.44% $173,471 3.89% NIM (as reported) 3.27% 3.13% 3.38% Core OID(6) $773 7.19% $786 6.80% $824 5.77% NIM (ex. Core OID)(6) 3.30% 3.16% 3.41% (1) Mortgage includes held-for-investment (HFI) loans from the Mortgage Finance segment and the HFI legacy mortgage portfolio in run-off at the Corporate and Other segment. (2) Unsecured lending from point-of-sale financing. Moved to Assets of Operations Held for Sale on 12/31/23. Sale of Ally Lending closed on 03/01/24. (3) Includes Community Reinvestment Act and other held-for-sale (HFS) loans. (4) Includes retail, brokered, and other deposits (inclusive of sweep deposits, mortgage escrow and other deposits). (5) Includes FHLB borrowings and Repurchase Agreements. (6) Calculated using a Non-GAAP financial measure. See pages 27 – 29 for definitions. 9

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2Q 2024 Preliminary Results Diversified Consumer Deposits Franchise 15-year journey establishing ‘a brand that matters’ Ally Retail Deposits by Vintage $ in billions $160 $140 $120 $100 $80 $60 $40 $20—Pre-2009 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Customers <0.4M 0.9M 2.0M 3.2M 2Q Retail Deposit Highlights 3.2M $142B 92% 96% FDIC Insured(1) Customer Customers Retail Balances (2) +54K customers in 2Q retention See page 31 for footnotes. 10

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2Q 2024 Preliminary Results Capital • 2Q ‘24 CET1 ratio of 9.6% and TCE / TA ratio of 5.6% (1) Capital Ratios and Risk-Weighted Assets ($ billions) • $4B of CET1 capital above FRB requirement of 7.0% 12.7% Total Capital (Regulatory Minimum + SCB) 12.5% 12.5% 12.4% 12.5% Ratio 10.7% 10.7% 10.8% 10.8% 11.0% Tier 1 Ratio • Direct issuance of $330M credit linked notes in 2Q on $3B 9.3% 9.3% 9.4% 9.4% 9.6% CET1 Ratio reference pool of prime retail auto loans – Generated 11bps of CET1 benefit in 2Q; benefit amortizes over $159 $161 $162 Risk $158 $157 Weighted time as the loans pay down Assets • Preliminary SCB of 2.6% effective Oct. 1; continue to maintain buffer above required minimum – Continue to maintain 9.0% internal operating target 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 • Announced 3Q ’24 common dividend of $0.30 per share Note: For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 30. Adjusted Tangible Book Value per Share(1) Adjusted $45 $47 TBV/Share $42 ex. OCI(1) $13 OCI $10 $13 Impact(2) $39 $34 $34 $32 $32 $34 Adjusted $27 $28 TBV/Share(1) $24 $26 $21 2Q 14 2Q 15 2Q 16 2Q 17 2Q 18 2Q 19 2Q 20 2Q 21 2Q 22 2Q 23 2Q 24 End of Period Shares Outstanding 480M 482M 484M 452M 426M 393M 374M 363M 313M 302M 305M (1) Contains a Non-GAAP financial measure. See pages 27 – 29 for definitions. (2) Prior period OCI impacts are not material to Adjusted Tangible Book Value per Share and therefore not shown. 11

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2Q 2024 Preliminary Results Capital Optimization Long history and experience in securitization, established infrastructure and technology enabled the successful issuance of Ally’s inaugural credit risk transfer transaction Generates 11bps of CET 1 benefit in 2Q and introduces another lever for capital management Ally Bank Capital Efficiency: Reduces RWA on the $3B reference pool from 100% to 38% Credit Linked • Structure: Ally sold the mezzanine tranche while retaining senior and first loss tranches Notes Incremental interest issuance • expense associated with $330M debt (ABCLN 2024-A) $330M CLNs • Collateral: Pool contains high credit quality retail auto loans (WA FICO of 749) 7.18% coupon 1.59 Yr. WAL • Loans remain on balance sheet and Ally retains all of the economics • Capital benefit amortizes as the pool of loans pay down Risk weighted assets on $3 billion reference pool decreased from 100% to 38% Reference Portfolio Senior 87.5% (20% RWA) $2.6B Retained by Ally $3.0B Prime Auto Loans Mezzanine | $330M 11% (0% RWA) Credit Linked Notes Investor First Loss | $45M 1.5% (1250% RWA) Retained by Ally Cash 20% RWA Collateral RWA from 100% to 38% Account Proceeds from the notes were deposited in a cash collateral account with AA-bank that earns interest 12

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2Q 2024 Preliminary Results Asset Quality: Key Metrics Net Charge-Off Activity(1) Consolidated Net Charge-Offs (NCOs)(1) ($ millions) 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 1.77% 1.55% Retail Auto $277 $393 $470 $477 $378 1.31% Annualized Commercial Auto 4—19 1 (4) $623 1.26% NCO Rate 1.16% Mortgage Finance — — -$539 Corporate Finance 56 (3) 48 (1) -$456 $435 NCOs ($M) $399 Ally Lending 27 29 36—-Ally Credit Card 36 39 52 62 62 Corp/Other (2) (1) (2) (2)—(1) 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Total $399 $456 $623 $539 $435 Note: Ratios exclude loans measured at fair value and loans held-for-sale ex. Ally Lending (4Q’23). (2) Corp/Other includes legacy Mortgage HFI portfolio. See page 30 for definition. Retail Auto Net Charge-Offs (NCOs)(1) Retail Auto Delinquencies 4.42% 30+ DPD 4.33% Delinquency 2.27% Rate 2.21% 3.85% 3.88% 3.60% 60+ DPD 1.23% 1.26% Delinquency 1.85% Annualized 1.81% Rate $470 $477 NCO Rate 1.10% 1.03% 0.94% $393 $1,049 60+ 1.32% $378 NCOs ($M) $1,037 Delinquent $878 $915 Contracts $796 ($M) $277 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 13 (1) Excludes write-downs from retail auto loan sales (4Q’23 & 1Q’24) and Ally Lending sale (4Q’23). Notes: [1] Includes accruing contracts only [2] Days Past Due (“DPD”).

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2Q 2024 Preliminary Results Asset Quality: Coverage and Reserves • Retail auto coverage rate of 3.65% and consolidated coverage rate of 2.57% – Consolidated coverage and Retail Auto coverage rates flat QoQ; no change to overall macroeconomic outlook • Retail auto coverage levels ~30 basis points higher than CECL Day 1 – Evolution of portfolio mix shift over time (â†“ new, â†‘ used); base case assumption of flat coverage while continuing to monitor and assess loss trends and the macroeconomic environment • Corporate Finance had no new non-performing loans or charge-offs in 2Q – Corporate Finance portfolio remains healthy with historically low levels of criticized and non-accrual loans Consolidated Coverage Retail Auto Coverage ($ billions) ($ billions) 2.72% 2.73% 3.62% 3.62% 3.65% 3.65% 3.65% Reserve (%) 2.57% 2.57% 2.57% Reserve (%) 3.34% $3.8 $3.8 $3.1 $3.1 $3.1 $3.1 $3.1 Reserve ($) 2.03% $3.6 $3.6 $3.6 Reserve ($) $2.4 $2.6 CECL 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 CECL 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Day 1 Day 1 Note: Coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. Note: Coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. 14

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2Q 2024 Preliminary Results Retail Auto Credit Vintage Dynamics Peak loss timing of 2022 vintage is key driver of 1H 2024 net charge-offs • 2Q Retail NCO rate of 1.81%, in-line with recent guidance • Front-book performing in line with expectations while back-book continues to pressure near-term NCOs – 2023 vintage continues to perform favorably versus the 2022 vintage in 30+ day delinquencies at same months on book • 2022 vintage drove more than 40% of 1H 2024 losses and will represent a smaller contribution going forward – Shift up-tier in credit beginning in April 2023 will increasingly benefit portfolio charge-offs as newer vintages make up a growing share of the portfolio • End of period used vehicle values â†“ 3% year-to-date; expect additional 2% decline in 2H’24 (FY â†“ 5%) Daily Average 30+ Day DQs by Vintage(1) Retail NCO Composition by Vintage 2022 | 2023 2.95% 3.65% 3.30% MO. 18 2.54% MO. 15 Months on Book 58% (2) 64% End of Period 30+ Day DQs by Vintage 3.76% 75% All Other 2022 | 2023 85% Vintages 2.84% 3.51% 2.56% MO. 18 42% 36% 25% MO. 15 15% 2022 Vintage 1H’24 2H’24 1H’25 2H’25 Months on Book (1) Includes accruing contracts only; daily average to eliminate volatility associated with a month closing on a weekend vs weekday. 15 (2) Includes accruing contracts only.

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2Q 2024 Preliminary Results EV Originations and TaxRate Impact Recent momentum in electric vehicle lease contracts Consumer Auto EV Originations by Product Lease EV Originations by Vehicle Type $1,005M Virtually all battery electric lease $639M contracts include residual guarantees Retail $722M 25% Used $417M $557M 11% Retail $474M 28% New Battery 83% $347M $230M Electric 33% 14% 65% 36% $174M $175M 36% 26% 64% Lease 14% 27% 58% 100% 100% 99% Plug-in 50% 37% 41% 35% 17% Hybrid 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Ally uses ‘flow-through’ method accounting for EV lease credits Impact of EV Lease Relative to ICE • EV credit is recognized at time of origination as a tax benefit (Flow-Through Method) – Day 1 tax benefit is offset by lower net financing revenue over the Year 1 Year 2 Year 3 Full-Life life of the lease Net Fin. Rev. ($2.5K) ($2.5K) ($2.5K) ($7.5K) ? Tax credit is passed onto customer through lower monthly payment vs. an ICE lease contract ICE lease Tax Benefit $6.5K $0.5K $0.5K $7.5K • Lifetime economics between EV lease and contracts are unchanged Net Income $4.0K ($2.0K) ($2.0K) $0 – Timing of income recognition and geography within P&L differ Illustrative example of a single 36-month EV lease contract under flow-through method of accounting with $7,500 tax credit and 21% tax rate, as compared to a traditional internal combustion engine (ICE) lease contract. 16

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2Q 2024 Preliminary Results Auto Finance • Auto pre-tax income of $407 million Increase / (Decrease) vs. – Pre-tax income down YoY, driven by elevated credit losses from Key Financials ($ millions) 2Q 24 1Q 24 2Q 23 back-book performance and higher noninterest expense Net financing revenue $1,314 $- $(35) Total other revenue 93 (4) 10 – Provision expense up YoY, primarily driven by loss content from 2022 vintage as those loans hit peak-loss timing Total net revenue $1,407 $(4) $(25) Provision for credit losses 383 (65) 52 • Robust application volume and selective underwriting Noninterest expense (1) 617 (24) 17 in an accommodative origination environment Pre-tax income $407 $85 $(94) U.S. Auto earning assets (EOP) $ 117,294 $1,206 $1,897 – Retail originated yield of 10.6% (2); linked quarter decrease driven by mix dynamics; maintained consistent pricing posture Key Statistics across the credit spectrum Remarketing gains ($ millions) $59 $13 $(11) hedge is up 21bps QoQ Average gain per vehicle $1,420 $(11) $(915) – Portfolio yield excluding impact from Off-lease vehicles terminated (# units) 41,601 9,675 11,729 • Seasonal lease termination trends driving $59 million Application volume (# thousands) 3,732 (32) 215 of remarketing gains, up $13 million QoQ Retail Auto Yield Trend Lease Portfolio Trends 44% S-tier 41% 43% Origination 40% 40% Mix 76% 76% Estimated 67% 10.81% 10.92% Lessee & 10.68% 10.59% Originated 57% 10.39% Yield(2) 54% Dealer 9.07% 9.19% $70 Buyout % 8.90% 8.98% 8.81% Hedge Impact $57 $59 Remarketing Gains ($ millions) Portfolio $46 8.43% 8.65% 8.86% Yield 7.87% 8.16% ex. hedge $37 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Retail Weighted Average FICO Avg. Gain / Unit 701 704 707 704 712 $2,335 $1,944 $1,422 $1,431 $1,420 See page 31 for footnotes. 17

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2Q 2024 Preliminary Results Insurance • Insurance pre-tax loss of $42 million and core Increase / (Decrease) vs. pre-tax loss of $14 million(1) Key Financials ($ millions) 2Q 24 1Q 24 2Q 23 – Premiums, service revenue earned and other income $344 $(5) $32 $344 million of earned premiums, up $32 million YoY VSC losses 38 2—Weather losses 78 61 27 – GAP losses increased YoY, driven by higher loan to values All other losses 65 6 20 given normalization in used vehicle values Losses and loss adjustment expenses 181 69 47 Acquisition and underwriting expenses (2) 229 (2) 5 • Written premiums of $344 million, up 15% YoY Total underwriting income/(loss) (66) (72) (20) Investment income and other 24 (40) (30) – Continued emphasis on dealer value through ‘all-in’ Pre-tax income (loss) $(42) $(112) $(50) relationship-focused products, servicing, and training (3) 28 45 52 Change in fair value of equity securities Core pre-tax income (loss)(1) $(14) $(67) $2 • Net weather losses of $78M driven by historically elevated hail activity and higher inventory levels Total assets (EOP) $9,174 $74 $284 Key Statistics—Insurance Ratios 2Q 24 1Q 24 2Q 23 • Reinsurance mitigating overall weather loss Loss ratio 52.5% 32.2% 43.0% exposure Underwriting expense ratio 66.2% 66.4% 71.5% Combined ratio 118.7% 98.6% 114.6% Written Premiums Insurance Losses $181 ($ millions) $354 ($ millions) $335 $333 $344 $21 Other $299 $134 $22 GAP $74 $97 $75 P&C Premium P&C non-$49 $89 $15 $107 $112 $22 weather $12 $93 $18 $16 $20 $9 $17 $16 $21 $10 $78 Weather $261 $269 F&I Premium $51 $23 $250 $244 $257 $22 $27 $3 $17 $38 $39 $36 $36 $38 VSC 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Note: F&I: Finance and insurance products and other. P&C: Property and casualty insurance products. (1) Non-GAAP financial measure. See pages 27 – 29 for definitions. 18 For additional footnotes see page 31.

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2Q 2024 Preliminary Results Corporate Finance • Corporate Finance pre-tax income of $98 million Increase/(Decrease) vs. Key Financials ($ millions) 2Q 24 1Q 24 2Q 23 – Net financing revenue up YoY reflecting higher income spreads and elevated fees from loan payoffs Net financing revenue $104 $(7) $12 Other revenue 30 7 2 Total net revenue 134 - 14 – Average ROE of 22% since 2014 Provision for credit losses 3 4 (12) • Held-for-investment loans of $9.7B, down 4% YoY Noninterest expense (2) 33 (12)—Pre-tax income $98 $8 $26 – Well-diversified, high-quality, ~100% first-lien, floating rate loans Change in fair value of equity securities (3) (0) (1) 1 Core pre-tax income (1) $98 $7 $27 – CRE exposure of $1.4B is limited and performing well (no office) Total assets (EOP) 9,869 $(541) $(321) – Balances down YTD driven by strength in capital markets • Focused on credit and operational risk management – Criticized assets and non-accrual loans percentage remain near historically low levels, 13% and 1%, respectively Compelling Return Profile 2020-2021 results impacted by (4) the build and release of specific 32% 32% Return on Equity COVID related reserves 24% 27% 26% 22% 21% 18% 13% 14% 11% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 YTD 2024 Held for Investment Balances (EOP) $1.8B $2.6B $3.2B $3.9B $4.6B $5.7B $6.0B $7.8B $10.1B $10.9B $9.7B (1) Non-GAAP financial measure. See pages 27 – 29 for definitions. 19 For additional footnotes see page 31.

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2Q 2024 Preliminary Results Mortgage Finance • Mortgage pre-tax income of $27 million Increase/(Decrease) vs. Key Financials ($ millions) 2Q 24 1Q 24 2Q 23 – Noninterest expense down $5 million YoY, reflecting Net financing revenue $53 $1 $the benefit of variable cost structure Total other revenue 5 (1) -Total net revenue $58 $- $- • Direct-to-Consumer (DTC) originations of $261 million, reflective of current environment Provision for credit losses (1) (1) (1) Noninterest expense (1) 32 (1) (5) – Less than 5% of loans retained on balance sheet Pre-tax income $27 $2 $6 • 2Q ’24 originations primarily from existing depositors, Total assets (EOP) $18,010 $(293) $(987) highlighting the strong customer value proposition Key Statistics—HFI Portfolio 2Q 24 1Q 24 2Q 23 Net Carry Value ($ billions) $17.8 $18.2 $18.9 – 70%+ of DTC originations sourced from existing depositors (2) 50.3% 50.7% 54.5% Wtd. Avg. LTV/CLTV • Continued focus on customer digital experience and Refreshed FICO 783 781 782 operational efficiency Direct-to-Consumer Originations Held for Investment Assets ($ billions) ($ billions) $18.9 $18.7 $18.4 $18.2 $17.8 $0.3 $0.3 $0.3 $0.2 $0.2 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 See page 31 for footnotes. 20

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2Q 2024 Preliminary Results Full-Year 2024 Financial Outlook Current Guide Prior Guide (1Q24) Net Interest Margin ~3.30% 3.25%—3.30% Exit rate 3.45%—3.50% Exit rate 3.40%—3.50% Adj. Other Revenue(1) â†‘ 12% YoY â†‘ 9%—12% YoY Retail Auto NCO ~2.1% ~2.0% Consolidated NCO 1.45%—1.50% 1.40%—1.50% Controllable(2) â†“>1% YoY Controllable(2) â†“ >1% YoY Adj. Noninterest Expense(1) YoY less than 2% YoY Total â†‘ less than 2% Total â†‘ Average Earning Assets â†“ 1% YoY Flat YoY Tax Rate(3) 0% – (5%) 15% (1) Non-GAAP financial measures. See pages 27 – 29 for definitions. (2) Defined as total operating expenses excluding FDIC fees and certain insurance expenses (losses and commissions). (3) Assumes statutory U.S. Federal tax rate of 21%. 21

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Supplemental

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Supplemental 2Q 2024 Preliminary Results Results By Segment Results by Segment and GAAP to Core Pre-tax income Walk Increase/(Decrease) vs. ($ millions) 2Q 24 1Q 24 2Q 23 1Q 24 2Q 23 Automotive Finance $407 $322 $501 $85 $(94) Insurance (42) 70 8 (112) (50) Dealer Financial Services $365 $392 $509 $(27) $(144) Corporate Finance 98 90 72 8 26 Mortgage Finance 27 25 21 2 6 Corporate and Other (233) (336) (199) 103 (34) Pre-tax income $257 $171 $403 $86 $(146) Core OID (1) 14 13 12 1 2 Change in fair value of equity securities (2) 28 (11) (25) 39 53 Repositioning and other (3) - 10—(10)—Core Pre-tax income (1) $299 $183 $390 $116 $(91) Insurance—GAAP to Core Walk GAAP Pre-tax income (loss) $(42) $70 $8 $(112) $(50) Core Adjustments (4) 28 (17) (24) 45 52 Core Pre-tax income (loss) $(14) $53 $(16) $(67) $2 Corporate Finance—GAAP to Core Walk GAAP Pre-tax income $98 $90 $72 $8 $26 Core Adjustments (4) (0) 0 (1) (1) 1 Core Pre-tax income $98 $90 $71 $7 $27 Corporate & Other—GAAP to Core Walk GAAP Pre-tax income (loss) $(233) $(336) $(199) $103 $(34) Core Adjustments (4) 15 29 12 (15) 3 Core Pre-tax income (loss) $(218) $(307) $(187) $88 $(31) (1) Non-GAAP financial measure. See pages 27 – 29 for definitions. For additional footnotes see page 32. 23

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Supplemental 2Q 2024 Preliminary Results Corporate and Other • Pre-tax loss of $233 million and Core pre-tax loss Corporate & Other Results of $218 million(1) ($ millions) Increase/(Decrease) vs. driven by higher interest Key Financials 2Q 24 1Q 24 2Q 23 – Net financing revenue lower YoY expense Net financing revenue $(6) $44 $(56) Total other revenue 39 19 (14) – Provision expense lower YoY largely driven by the sale of Total net revenue 33 63 (70) Ally Lending and slower portfolio growth in Credit Card Provision for credit losses 72 12 (9) Total assets of $39.7 billion, down $5.7 billion YoY Noninterest expense 194 (52) (27) • Pre-tax income (loss) $(233) $103 $(34) primarily driven by the sale of Ally Lending and Core OID (1) 14 1 2 runoff within the securities portfolio Repositioning items(2) - (10)—Change in fair value of equity securities (3) 1 (5) 1 Core pre-tax income (loss) (1) $(218) $88 $(31) Cash & securities $ 30,684 $(1,306) $(4,455) Ally Financial Rating Details (4) 2,022 82 (1,462) Held-for-investment loans, net LT Debt ST Debt Outlook Intercompany loan (5) (727) (8) (217) Other 7,727 487 433 Fitch BBB- F3 Stable Total assets $ 39,706 $(745) $(5,701) Moody’s Baa3 P-3 Negative Ally Invest 2Q 24 1Q 24 2Q 23 Net Funded Accounts (k) 529 526 521 S&P BBB- A-3 Stable Average Customer Trades Per Day (k) 27.5 30.0 26.2 DBRS BBB R-2H Stable Total Customer Cash Balances $1,324 $1,396 $1,578 Total Net Customers Assets $16,616 $16,020 $14,945 Note: Ratings as of 6/30/2024. Our borrowing costs & access to the capital markets could be negatively impacted if our credit ratings are downgraded or otherwise fail to meet investor expectations or demands. Ally Credit Card 2Q 24 1Q 24 2Q 23 Gross Receivable Growth (EOP) $86 $(28) $117 Outstanding Balance (EOP) $2,049 $1,962 $1,757 NCO % 12.6% 12.5% 8.5% Active Cardholders (k) 1,227 1,222 1,146 (1) Non-GAAP financial measure. See pages 27 – 29 for definitions. 24 For additional footnotes see page 32.

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Supplemental 2Q 2024 Preliminary Results Funding and Liquidity Core funded with stable deposits and strong liquidity position Funding Composition Total Available Liquidity (End of Period) ($ billions) Unsecured Debt Cash and Equivalents FHLB / Other FHLB Unused Pledged Borrowing Capacity Secured Debt FRB Discount Window Pledged Capacity Total Deposits Unencumbered Highly Liquid Securities $68.3 $64.3 $64.1 $63.5 $7.4 $8.0 $6.5 $6.7 $13.8 $11.0 $10.3 $12.2 $44.6 $9.5 $25.6 $26.0 $26.3 $26.5 $12.3 87% 87% 88% 90% 89% $2.1 $20.7 $19.6 $20.6 $20.9 $18.9 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 Loan to Deposit Ratio(1) Available Liquidity vs. Uninsured Deposits 96% 98% 98% 95% 97% 4.0x 5.6x 5.5x 5.8x 5.7x (1) Total loans and leases divided by total deposits. 25

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Supplemental 2Q 2024 Preliminary Results Interest Rate Risk Net Financing Revenue Sensitivity Analysis(1) ($ millions) 2Q 24 1Q 24 ($ millions) Gradual (2) Instantaneous Gradual (2) Instantaneous -100 bp $(67) $(17) $(87) $(56) +100 bp $46 $(38) $71 $5 Stable rate environment n/m $56 n/m $(22) (1) Net financing revenue impacts reflect a rolling 12-month view. See page 30 for additional details. (2) Gradual changes in interest rates are recognized over 12 months. Effective Hedge Notional (average) Fair Value Hedging on Fixed-Rate Consumer Auto Loans 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 4Q 26 Effective Hedge Average Notional Outstanding $17B $16B $16B $16B $14B $8B $6B $1B n/m —Average Pay Fixed Rates 4.1% 4.2% 4.1% 4.1% 4.4% 4.3% 4.5% 4.2% n/m — *Receive float combination of SOFR/OIS Fair Value Hedging on Fixed-Rate Investment Securities 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 4Q 26 Effective Hedge Average Notional Outstanding $12B $12B $12B $12B $12B $11B $11B $10B $10B $9B $9B Average Pay-Fixed Rates 3.9% 3.9% 3.9% 3.9% 3.9% 3.9% 3.9% 3.9% 3.8% 3.9% 3.9% Note: Pay-Fixed rates are expressed as a 4-period average rate 26

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Supplemental 2Q 2024 Preliminary Results Notes on Non-GAAP Financial Measures The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), and Tangible Common Equity. These measures are used by management, and we believe are useful to investors in assessing the company’s operating performance and capital. For calculation methodology, refer to the Reconciliation to GAAP later in this document. 1) Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt. 2) Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one- time items, (4) change in fair value of equity securities, (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 that have been taken by the company to normalize its capital structure, as applicable for respective periods. See page 33 for calculation methodology and details. 3) 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. See page 36 for calculation details. (1) In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Rep and warrant expense, Insurance segment expense, and repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring and significant other one-time items, as applicable for respective periods. (2) In the denominator, total net revenue is adjusted for Core OID and Insurance segment revenue. See page 18 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance segment. 4) Adjusted noninterest expense is a non-GAAP financial measure that adjusts GAAP noninterest expense for repositioning items. Management believes adjusted noninterest expense is a helpful financial metric because it enables the reader better understand the business’ expenses excluding nonrecurring items. See page 37 for calculation methodology and details. 5) Adjusted other revenue is a non-GAAP financial measure that adjusts GAAP other revenue for OID expenses, repositioning, and change in fair value of equity securities. Management believes adjusted other revenue is a helpful financial metric because it enables the reader to better understand the business’ ability to generate other revenue. See page 37 for calculation methodology and details. 6) Adjusted provision for credit losses is a non-GAAP financial measure that adjusts GAAP provision for credit losses for repositioning items. Management believes adjusted provision for credit losses is a helpful financial metric because it enables the reader to better understand the business’ expenses excluding nonrecurring items. See page 37 for calculation methodology and details. 27

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Supplemental 2Q 2024 Preliminary Results Notes on Non-GAAP Financial Measures 7) Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for: (1) goodwill and identifiable intangibles, net of DTLs and (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered. Note: In December 2017, tax-effected Core OID balance was adjusted from a statutory U.S. Federal tax rate of 35% to 21% (“rate”) as a result of changes to U.S. tax law. The adjustment conservatively increased the tax-effected Core OID balance and consequently reduced Adjusted TBVPS as any acceleration of the non-cash charge in future periods would flow through the financial statements at a 21% rate versus a previously modeled 35% rate. See page 35 for calculation methodology and details. 8) Adjusted total net revenue is a non-GAAP financial measure that management believes is helpful for readers to understand the ongoing ability of the company to generate revenue. For purposes of this calculation, GAAP net financing revenue is adjusted by excluding Core OID to calculate net financing revenue ex. core OID. GAAP other revenue is adjusted for OID expenses, repositioning, and change in fair value of equity securities to calculate adjusted other revenue. Adjusted total net revenue is calculated by adding net financing revenue ex. core OID to adjusted other revenue. See pages 37 for calculation methodology and details. 9) Core net income attributable to common shareholders is a non-GAAP financial measure that serves as the numerator in the calculations of Adjusted EPS and Core ROTCE and that, like those measures, is believed by management to help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Core net income attributable to common shareholders adjusts GAAP net income attributable to common shareholders for discontinued operations net of tax, tax-effected Core OID expense, tax-effected repositioning and other primarily related to the extinguishment of high-cost legacy debt and strategic activities and significant other, preferred stock capital actions, significant discrete tax items and tax-effected changes in equity investments measured at fair value, as applicable for respective periods. See pages 33– 34 for calculation methodology and details. 10) Core original issue discount (Core OID) amortization expense is a non-GAAP financial measure for OID and is believed by management to help the reader better understand the activity removed from: Core pre-tax income (loss), Core net income (loss) attributable to common shareholders, Adjusted EPS, Core ROTCE, Adjusted efficiency ratio, Adjusted total net revenue, and Net financing revenue (excluding Core OID). Core OID is primarily related to bond exchange OID which excludes international operations and future issuances. Core OID for all periods shown is applied to the pre-tax income of the Corporate and Other segment. See page 37 for calculation methodology and details. 11) Core outstanding original issue discount balance (Core OID balance) is a non-GAAP financial measure for outstanding OID and is believed by management to help the reader better understand the balance removed from Core ROTCE and Adjusted TBVPS. Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. See page 37 for calculation methodology and details. 12) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, and (2) change in fair value of equity securities (change in fair value of equity securities impacts the Insurance and Corporate Finance segments), and (3) Repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods or businesses. Management believes core pre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. See page 23 for calculation methodology and details. 28

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Supplemental 2Q 2024 Preliminary Results Notes on Non-GAAP Financial Measures 13) 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. See page 34 for calculation details. (1) In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax-effected repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other onetime items, change in fair value of equity securities, 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. 14) Investment income and other (adjusted) is a non-GAAP financial measure that adjusts GAAP investment income and other for repositioning, and the change in fair value of equity securities. Management believes investment income and other (adjusted) is a helpful financial metric because it enables the reader to better understand the business’ ability to generate investment income. 15) Net financing revenue excluding core OID is calculated using a non-GAAP measure that adjusts net financing revenue by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net financing revenue ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’ ability to generate revenue. See pages 37 for calculation methodology and details. 16) Net interest margin excluding core OID is calculated using a non-GAAP measure that adjusts net interest margin by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net interest margin ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’ profitability and margins. See page 9 for calculation methodology and details. 17) Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Ally believes that tangible common equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core return on tangible common equity (Core ROTCE), tangible common equity is further adjusted for Core OID balance and net deferred tax asset. See pages 35 for calculation methodology and details. 29

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Supplemental 2Q 2024 Preliminary Results Notes on Other Financial Measures 1) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. 2) Estimated impact of CECL on regulatory capital per final rule issued by U.S. banking agencies—In December 2018, the FRB and other U.S. banking agencies approved a final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, the option to phase in the day-one impact of CECL over a three-year period. In March 2020, the FRB and other U.S. banking agencies issued an interim final rule that became effective on March 31, 2020 and provided an alternative option for banks to temporarily delay the impacts of CECL, relative to the incurred loss methodology for estimating the allowance for loan losses, on regulatory capital. A final rule that was largely unchanged from the March 2020 interim final rule was issued by the FRB and other U.S. banking agencies in August 2020, and became effective in September 2020. For regulatory capital purposes, these rules permitted us to delay recognizing the estimated impact of CECL on regulatory capital until after a two-year deferral period, which for us extended through December 31, 2021. Beginning on January 1, 2022, we are required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the five-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and beginning January 1, 2022 are phasing in the regulatory capital impacts of CECL based on this five-year transition period. 3) Estimated retail auto originated yield is a financial measure determined by calculating the estimated average annualized yield for loans originated during the period. At this time there currently is no comparable GAAP financial measure for Estimated Retail Auto Originated Yield and therefore this forecasted estimate of yield at the time of origination cannot be quantitatively reconciled to comparable GAAP information. 4) Interest rate risk modeling – We prepare our forward-looking baseline forecasts of net financing revenue taking into consideration anticipated future business growth, asset/liability positioning, and interest rates based on the implied forward curve. The analysis is highly dependent upon a variety of assumptions including the repricing characteristics of retail deposits with both contractual and non-contractual maturities. We continually monitor industry and competitive repricing activity along with other market factors when contemplating deposit pricing actions. Please see our SEC filings for more details. 5) Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding finance receivables and loans excluding loans measured at fair value and loans held-for-sale. 6) Repositioning is primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, amounts related to nonrecurring business transactions or pending transactions, and significant other one-time items. 7) U.S. consumer auto originations â–ª New Retail – standard and subvented rate new vehicle loans; Lease – new vehicle lease originations; Used – used vehicle loans â–ª Nonprime – originations with a FICO® score of less than 620 30

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Supplemental 2Q 2024 Preliminary Results Additional Notes Page – 5 | Dealer Financial Services (1) ‘Largest bank auto finance franchise in the U.S.’ by consumer assets outstanding at year-end 2023. Source: 2024 Big Wheels Auto Finance Survey. (2) Originated spread is calculated as estimated retail auto originated yield less two-point average of spot 2-year SOFR swap. Note, 2014 rate based off LIBOR swaps. Page – 6 | Ally Bank (1) ‘Best Online Bank’ list by MONEY® Magazine for customer service. (2) Customer retention rate is the annualized 3-month rolling average of 1 minus the monthly attrition rate; excludes escheatment. (3) FDIC insured percentage excludes affiliate and intercompany deposits. (4) Bank customer satisfaction rate is calculated with data collected during 2Q 2024 in the Ally Relationship Survey and represents Top 2 Box results on a 7-point satisfaction score. (5) Engaged customers are active deposit customers utilizing Invest, Direct Deposit, Debit, or Savings Toolkit (launched in 2020). Page – 10 | Diversified Consumer Deposits Franchise (1) FDIC insured percentage excludes affiliate and intercompany deposits. (2) Customer retention rate is the annualized 3-month rolling average of 1 minus the monthly attrition rate; excludes escheatment. Page – 17 | Auto Finance (1) Noninterest expense includes corporate allocations of $278 million in 2Q 2024, $285 million in 1Q 2024, and $271 million in 2Q 2023. (2) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 30 for details. Page – 18 | Insurance (2)Acquisition and underwriting expenses includes corporate allocations of $23 million in 2Q 2024, $24 million in 1Q 2024, and $23 million in 2Q 2023. (3)Change in fair value of equity securities impacts the Insurance segment. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. Page – 19 | Corporate Finance (2) Noninterest expense includes corporate allocations of $13 million in 2Q 2024, $16 million in 1Q 2024, and $13 million in 2Q 2023. (3) Change in fair value of equity securities impacts the Corporate Finance segment. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. (4) Return on equity calculation assumes 35% tax rate for 2014-2017 and 24% thereafter; allocated equity equal to 9% of average risk-weighted assets. Page – 20 | Mortgage Finance (1) Noninterest expense includes corporate allocations of $21 million in 2Q 2024, $21 million in 1Q 2024, and $24 million in 2Q 2023. (2) 1st lien only. Updated home values derived using a combination of appraisals, Broker price opinion (BPOs), Automated Valuation Models (AVMs) and Metropolitan Statistical Area (MSA) level house price indices. 31

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Supplemental 2Q 2024 Preliminary Results Additional Notes Page – 23 | Results by Segment (2) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. (3) Repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, and significant other one-time items, as applicable for respective periods or businesses. (4) Includes adjustments for non-GAAP measures Core OID expense, change in fair value of equity securities, and repositioning. Page – 24 | Corporate and Other (2) Repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, and significant other one-time items, as applicable for respective periods or businesses. (3) Change in fair value of equity securities impacts the Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. (4) HFI legacy mortgage portfolio and HFI Ally Credit Card portfolio 2Q 2024 and 1Q 2024 and includes HFI Ally Lending in 2Q 2023. (5) Intercompany loan related to activity between Insurance and Corporate for liquidity purposes from the wind down of the Demand Notes program. Includes loans held-for-sale. 32

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Supplemental 2Q 2024 Preliminary Results GAAP to Core Results: Adjusted EPS Adjusted Earnings per Share (“Adjusted EPS”) QUARTERLY TREND 2Q 24 1Q 24 4Q 23 3Q 23 2Q 23 Numerator ($ millions) GAAP net income attributable to common shareholders $266 $129 $49 $269 $301 Discontinued operations, net of tax - - 1 —Core OID 14 13 13 12 12 Repositioning Items - 10 172 30 -Change in fair value of equity securities 28 (11) (74) 56 (25) Tax-effected Core OID, Repo & changes in fair value of equity securities (9) (3) (23) (21) 3 (assumes 21% tax rate) Significant discrete tax items - — (94)—Core net income attributable to common shareholders [a] $299 $139 $137 $252 $291 Denominator Weighted-average common shares outstanding—(Diluted, thousands) [b] 309,886 308,421 306,730 305,693 304,646 Metric GAAP EPS $0.86 $0.42 $0.16 $0.88 $0.99 Discontinued operations, net of tax - - 0.00 —Core OID 0.04 0.04 0.04 0.04 0.04 Change in fair value of equity securities 0.09 (0.03) (0.24) 0.18 (0.08) Repositioning Items - 0.03 0.56 0.10 -Tax on Core OID, Repo & change in fair value of equity securities (0.03) (0.01) (0.08) (0.07) 0.01 (assumes 21% tax rate) Significant discrete tax items - — (0.31)—Adjusted EPS [a] / [b] $0.97 $0.45 $0.45 $0.83 $0.96 33

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Supplemental 2Q 2024 Preliminary Results GAAP to Core Results: Core ROTCE Core Return on Tangible Common Equity (“Core ROTCE”) QUARTERLY TREND 2Q 24 1Q 24 4Q 23 3Q 23 2Q 23 Numerator ($ millions) GAAP net income attributable to common shareholders $266 $129 $49 $269 $301 Discontinued operations, net of tax - - 1 —Core OID 14 13 13 12 12 Repositioning Items - 10 172 30 -Change in fair value of equity securities 28 (11) (74) 56 (25) Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (9) (3) (23) (21) 3 Significant discrete tax items & other - — (94)—Core net income attributable to common shareholders [a] $299 $139 $137 $252 $291 Denominator (Average, $ billions) GAAP shareholder’s equity $13.8 $13.7 $13.3 $13.2 $13.5 less: Preferred equity (2.3) (2.3) (2.3) (2.3) (2.3) GAAP common shareholder’s equity $11.4 $11.4 $11.0 $10.9 $11.1 Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”) (0.7) (0.7) (0.8) (0.9) (0.9) Tangible common equity $10.7 $10.7 $10.2 $10.0 $10.2 Core OID balance (0.8) (0.8) (0.8) (0.8) (0.8) Net deferred tax asset (“DTA”) (1.4) (1.3) (1.4) (1.3) (1.1) Normalized common equity [b] $8.6 $8.6 $8.0 $7.9 $8.4 Core Return on Tangible Common Equity [a] / [b] 14.0% 6.5% 6.9% 12.9% 13.9% 34

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Supplemental 2Q 2024 Preliminary Results GAAP to Core Results: Adjusted TBVPS Adjusted Tangible Book Value per Share (“Adjusted TBVPS”) QUARTERLY TREND 2Q 24 1Q 24 4Q 23 3Q 23 2Q 23 Numerator ($ billions) GAAP shareholder’s equity $13.9 $13.7 $13.8 $12.8 $13.5 less: Preferred equity (2.3) (2.3) (2.3) (2.3) (2.3) GAAP common shareholder’s equity $11.5 $11.3 $11.4 $10.5 $11.2 Goodwill and identifiable intangibles, net of DTLs (0.7) (0.7) (0.7) (0.9) (0.9) Tangible common equity 10.8 10.6 10.7 9.6 10.3 Tax-effected Core OID balance (0.6) (0.6) (0.6) (0.6) (0.6) (assumes 21% tax rate) Adjusted tangible book value [a] $10.2 $10.0 $10.1 $9.0 $9.7 Denominator Issued shares outstanding (period-end, thousands) [b] 304,656 303,978 302,459 301,630 301,619 Metric GAAP shareholder’s equity per share $45.5 $44.9 $45.5 $42.5 $44.9 less: Preferred equity per share (7.6) (7.6) (7.7) (7.7) (7.7) GAAP common shareholder’s equity per share $37.8 $37.3 $37.8 $34.8 $37.2 Goodwill and identifiable intangibles, net of DTLs per share (2.3) (2.4) (2.4) (2.9) (2.9) Tangible common equity per share 35.5 34.9 35.4 31.9 34.2 Tax-effected Core OID balance (2.0) (2.0) (2.1) (2.1) (2.1) (assumes 21% tax rate) per share Adjusted tangible book value per share [a] / [b] $33.5 $32.9 $33.4 $29.8 $32.1 Ally adopted CECL on January 1, 2020. Upon implementation of CECL Ally recognized a reduction to our opening retained earnings balance of approximately $1.0 billion, net of income tax, which reflects a pre-tax increase to the allowance for loan losses of approximately $1.3 billion. This increase is almost exclusively driven by our consumer automotive loan portfolio. Note: For more details on the final rules to address the impact of CECL on regulatory capital by allowing 35 BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 30.

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Supplemental 2Q 2024 Preliminary Results GAAP to Core Results: Adjusted Efficiency Ratio Adjusted Efficiency Ratio QUARTERLY TREND 2Q 24 1Q 24 4Q 23 3Q 23 2Q 23 Numerator ($ millions) GAAP noninterest expense $1,286 $1,308 $1,416 $1,232 $1,249 Insurance expense (410) (343) (321) (338) (358) Repositioning items - (10) (187) (30)—Adjusted noninterest expense for efficiency ratio [a] $876 $955 $908 $864 $891 Denominator ($ millions) Total net revenue $ 2,000 $1,986 $2,067 $1,968 $2,079 Core OID 14 13 13 12 12 Repositioning items - — —Insurance revenue (368) (413) (450) (322) (366) Adjusted net revenue for the efficiency ratio [b] $1,646 $1,586 $1,630 $1,658 $1,725 Adjusted Efficiency Ratio [a] / [b] 53.2% 60.2% 55.7% 52.1% 51.7% 36

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Supplemental 2Q 2024 Preliminary Results Non-GAAP Reconciliations ($ millions) QUARTERLY TREND Net Financing Revenue (ex. Core OID) 2Q 24 1Q 24 4Q 23 3Q 23 2Q 23 GAAP Net Financing Revenue $1,495 $1,456 $1,493 $1,533 $1,573 Core OID 14 13 13 12 12 Net Financing Revenue (ex. Core OID) [a] $1,509 $1,469 $1,506 $1,545 $1,585 Adjusted Other Revenue GAAP Other Revenue $505 $530 $574 $435 $506 Accelerated OID & repositioning items - — —Change in fair value of equity securities 28 (11) (74) 56 (25) Adjusted Other Revenue [b] $533 $519 $500 $491 $481 Adjusted Total Net Revenue Adjusted Total Net Revenue [a]+[b] $2,042 $1,989 $2,006 $2,036 $2,066 Adjusted Provision for Credit Losses GAAP Provision for Credit Losses $457 $507 $587 $508 $427 Repositioning - - 16 — Adjusted Provision for Credit Losses $457 $507 $603 $508 $427 Adjusted NIE (ex. Repositioning) GAAP Noninterest Expense $1,286 $1,308 $1,416 $1,232 $1,249 Repositioning - (10) (187) (30)—Adjusted NIE (ex. Repositioning) $1,286 $1,298 $1,229 $1,202 $1,249 Original issue discount amortization expense GAAP original issue discount amortization expense $17 $17 $16 $15 $15 Other OID (3) (3) (3) (3) (3) Core original issue discount (Core OID) amortization expense $14 $13 $13 $12 $12 Outstanding original issue discount balance GAAP outstanding original issue discount balance $(797) $(815) $(831) $(847) $(863) Other outstanding OID balance 31 35 39 42 45 Core outstanding original issue discount balance (Core OID balance) $(766) $(779) $(793) $(806) $(818) Note: Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income. 37

Exhibit 99.3

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SECOND QUARTER 2024

FINANCIAL SUPPLEMENT

ALLY FINANCIAL INC.

FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION

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

This document and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts—such as statements about the outlook for financial and operating metrics, and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2023, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent SEC filings.

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

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


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ALLY FINANCIAL INC.

TABLE OF CONTENTS


	Page(s)
Consolidated Results
Consolidated Financial Highlights		4
Consolidated Income Statement		5
Consolidated Period-End Balance Sheet		6
Consolidated Average Balance Sheet		7

Segment Detail
Segment Highlights		8
Automotive Finance		9-10
Insurance		11
Mortgage Finance		12
Corporate Finance		13
Corporate and Other		14

Credit Related Information		15-16

Supplemental Detail
Capital		17
Liquidity and Deposits		18
Net Interest Margin		19
Ally Bank Consumer Mortgage HFI Portfolios		20
Earnings Per Share Related Information		21
Adjusted Tangible Book Per Share Related Information		22
Core ROTCE Related Information		23
Adjusted Efficiency Ratio Related Information		24


		3

ALLY FINANCIAL INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS


($ in millions, shares in thousands)	QUARTERLY TRENDS															CHANGE VS.
Selected Income Statement Data	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Net financing revenue	$	1,495		$	1,456		$	1,493		$	1,533		$	1,573		$	39		$	(78	)
Core OID		14			13			13			12			12			1			2
Net financing revenue (excluding Core OID) ⁽¹⁾		1,509			1,469			1,506			1,545			1,585			40			(76	)
Other revenue		505			530			574			435			506			(25	)		(1	)
Change in fair value of equity securities ⁽²⁾		28			(11	)		(74	)		56			(25	)		39			53
Adjusted other revenue ⁽¹⁾		533			519			500			491			481			14			52
Provision for credit losses		457			507			587			508			427			(50	)		30
Repositioning		-			-			16			-			-			-			-
Adjusted provision for credit losses ⁽¹⁾		457			507			603			508			427			(50	)		30
Total noninterest expense ⁽³⁾		1,286			1,308			1,416			1,232			1,249			(22	)		37
Repositioning		-			(10	)		(187	)		(30	)		-			10			-
Noninterest expense (ex. Repositioning) ⁽¹⁾		1,286			1,298			1,229			1,202			1,249			(12	)		37

Pre-tax income from continuing operations		257			171			64			228			403			86			(146	)
Income tax expense (benefit)		(37	)		14			(13	)		(68	)		74			(51	)		(111	)
(Loss) from discontinued operations, net of tax		-			-			(1	)		-			-			-			-
Net Income		294			157			76			296			329			137			(35	)
Preferred Dividends		28			28			27			27			28			-			-

Net income attributable to common shareholders	$	266		$	129		$	49		$	269		$	301		$	137		$	(35	)


Selected Balance Sheet Data (Period-End)
Total assets	$	192,531		$	192,877		$	196,392		$	195,704		$	197,241		$	(346	)	$	(4,710	)
Consumer loans		103,585			103,809			104,977			108,343			107,370			(224	)		(3,785	)
Commercial loans		35,198			34,151			34,462			31,917			31,079			1,047			4,119
Allowance for loan losses		(3,572	)		(3,550	)		(3,587	)		(3,837	)		(3,781	)		(22	)		209
Deposits		152,154			155,084			154,666			152,835			154,310			(2,930	)		(2,156	)
Total equity		13,851			13,657			13,766			12,825			13,532			194			319

Common Share Count
Weighted average basic		306,774			306,003			304,506			304,134			303,684			772			3,090
Weighted average diluted		309,886			308,421			306,730			305,693			304,646			1,465			5,241
Issued shares outstanding (period-end)		304,656			303,978			302,459			301,630			301,619			678			3,037

Per Common Share Data
Earnings per share (basic)	$	0.87		$	0.42		$	0.16		$	0.88		$	0.99		$	0.45		$	(0.12	)
Earnings per share (diluted)		0.86			0.42			0.16			0.88			0.99			0.44			(0.13	)
Adjusted earnings per share ⁽¹⁾		0.97			0.45			0.45			0.83			0.96			0.52			0.01
Book value per share		37.84			37.28			37.83			34.81			37.16			0.55			0.68
Tangible book value per share		35.50			34.91			35.43			31.90			34.22			0.58			1.28
Adjusted tangible book value per share ⁽¹⁾		33.51			32.89			33.36			29.79			32.08			0.62			1.43

Select Financial Ratios
Net interest margin		3.27%			3.13%			3.17%			3.24%			3.38%
Net interest margin (ex. Core OID) ⁽¹⁾		3.30%			3.16%			3.20%			3.26%			3.41%
Cost of funds		4.39%			4.44%			4.35%			4.21%			3.89%
Cost of funds (ex. Core OID)		4.34%			4.38%			4.29%			4.15%			3.84%
Efficiency Ratio		64.3%			65.9%			68.5%			62.6%			60.1%
Adjusted efficiency ratio ⁽¹⁾		53.2%			60.2%			55.7%			52.1%			51.7%
Return on average assets		0.6%			0.3%			0.1%			0.5%			0.6%
Return on average total equity		7.7%			3.8%			1.5%			8.2%			8.9%
Return on average tangible common equity		9.9%			4.8%			1.9%			10.8%			11.8%
Core ROTCE ⁽¹⁾		14.0%			6.5%			6.9%			12.9%			13.9%

Capital Ratios ⁽⁴⁾
Common Equity Tier 1 (CET1) capital ratio		9.6%			9.4%			9.4%			9.3%			9.3%
Tier 1 capital ratio		11.0%			10.8%			10.8%			10.7%			10.7%
Total capital ratio		12.7%			12.5%			12.4%			12.5%			12.5%
Tier 1 leverage ratio		8.8%			8.6%			8.7%			8.6%			8.6%

(1) Represents a non-GAAP financial measure. For more details refer to pages 22-27.

(2) For more details refer to pages 25-27.

(3) Including but not limited to employee related expenses, commissions and provision for losses and loss adjustment expense related to the insurance business, information technology expenses, servicing expenses, facilities expenses, marketing expenses, and other professional and legal expenses.

(4) For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 26.

Note: Numbers may not foot due to rounding


		4

ALLY FINANCIAL INC.

CONSOLIDATED INCOME STATEMENT


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	2,845		$	2,827		$	2,887		$	2,837		$	2,721		$	18		$	124
Interest on loans held-for-sale		7			36			5			7			7			(29	)		-
Total interest and dividends on investment securities		255			255			260			256			238			-			17
Interest-bearing cash		88			97			90			99			87			(9	)		1
Other earning assets		10			11			10			11			9			(1	)		1
Operating leases		333			356			371			385			392			(23	)		(59	)

Total financing revenue and other interest income		3,538			3,582			3,623			3,595			3,454			(44	)		84
Interest expense
Interest on deposits		1,594			1,651			1,621			1,563			1,418			(57	)		176
Interest on short-term borrowings		27			23			37			13			11			4			16
Interest on long-term debt		244			248			248			274			252			(4	)		(8	)
Interest on other		1			-			2			-			-			1			1

Total interest expense		1,866			1,922			1,908			1,850			1,681			(56	)		185
Depreciation expense on operating lease assets		177			204			222			212			200			(27	)		(23	)

Net financing revenue	$	1,495		$	1,456		$	1,493		$	1,533		$	1,573		$	39		$	(78	)
Other revenue
Insurance premiums and service revenue earned		341			345			335			320			310			(4	)		31
Gain on mortgage and automotive loans, net		6			6			3			4			5			-			1
Other gain / (loss) on investments, net		(7	)		29			85			(41	)		26			(36	)		(33	)
Other income, net of losses		165			150			151			152			165			15			-

Total other revenue		505			530			574			435			506			(25	)		(1	)
Total net revenue		2,000			1,986			2,067			1,968			2,079			14			(79	)
Provision for loan losses		457			507			587			508			427			(50	)		30
Noninterest expense
Compensation and benefits expense		442			519			453			463			448			(77	)		(6	)
Insurance losses and loss adjustment expenses		181			112			93			107			134			69			47
Goodwill impairment		-			-			149			-			-			-			-
Other operating expenses		663			677			721			662			667			(14	)		(4	)

Total noninterest expense		1,286			1,308			1,416			1,232			1,249			(22	)		37
Pre-tax income from continuing operations	$	257		$	171		$	64		$	228		$	403		$	86		$	(146	)
Income tax (benefit) / expense from continuing operations		(37	)		14			(13	)		(68	)		74			(51	)		(111	)

Net income from continuing operations		294			157			77			296			329			137			(35	)
Loss from discontinued operations, net of tax		-			-			(1	)		-			-			-			-

Net income	$	294		$	157		$	76		$	296		$	329		$	137		$	(35	)
Preferred Dividends		28			28			27			27			28			-			-

Net income available to common shareholders	$	266		$	129		$	49		$	269		$	301		$	137		$	(35	)

Core pre-tax Income walk

Net financing revenue	$	1,495		$	1,456		$	1,493		$	1,533		$	1,573		$	39		$	(78	)
Other revenue		505			530			574			435			506			(25	)		(1	)
Provision for credit losses		457			507			587			508			427			(50	)		30
Total noninterest expense		1,286			1,308			1,416			1,232			1,249			(22	)		37

Pre-tax income from continuing operations	$	257		$	171		$	64		$	228		$	403		$	86		$	(146	)
Core OID ⁽¹⁾		14			13			13			12			12			1			2
Change in the fair value of equity securities ⁽²⁾		28			(11	)		(74	)		56			(25	)		39			53
Repositioning ⁽²⁾		-			10			172			30			-			(10	)		-

Core pre-tax income ⁽¹⁾	$	299		$	183		$	174		$	326		$	390		$	116		$	(91	)

(1) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(2) For more details refer to pages 25-27.

Note: Numbers may not foot due to rounding


		5

ALLY FINANCIAL INC.

CONSOLIDATED PERIOD-END BALANCE SHEET


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Assets
Cash and cash equivalents
Noninterest-bearing	$	536		$	589		$	638		$	603		$	536		$	(53	)	$	-
Interest-bearing		6,833			7,564			6,307			7,912			9,436			(731	)		(2,603	)

Total cash and cash equivalents		7,369			8,153			6,945			8,515			9,972			(784	)		(2,603	)
Investment securities ⁽¹⁾		28,602			29,127			29,905			28,532			30,453			(525	)		(1,851	)
Loans held-for-sale, net		316			358			400			289			297			(42	)		19
Finance receivables and loans, net		138,783			137,960			139,439			140,260			138,449			823			334
Allowance for loan losses		(3,572	)		(3,550	)		(3,587	)		(3,837	)		(3,781	)		(22	)		209

Total finance receivables and loans, net		135,211			134,410			135,852			136,423			134,668			801			543
Investment in operating leases, net		8,374			8,731			9,171			9,569			9,930			(357	)		(1,556	)
Premiums receivables and other insurance assets		2,806			2,750			2,749			2,775			2,768			56			38
Other assets		9,853			9,348			9,395			9,601			9,153			505			700
Assets of operations held-for-sale ⁽²⁾		-			-			1,975			-			-			-			-

Total assets	$	192,531		$	192,877		$	196,392		$	195,704		$	197,241		$	(346	)	$	(4,710	)


Liabilities
Deposit liabilities
Noninterest-bearing	$	156		$	137		$	139		$	188		$	160		$	19		$	(4	)
Interest-bearing		151,998			154,947			154,527			152,647			154,150			(2,949	)		(2,152	)

Total deposit liabilities		152,154			155,084			154,666			152,835			154,310			(2,930	)		(2,156	)
Short-term borrowings		3,122			-			3,297			2,410			2,194			3,122			928
Long-term debt		15,979			17,011			17,570			20,096			20,141			(1,032	)		(4,162	)
Interest payable		1,148			1,118			858			1,437			955			30			193
Unearned insurance premiums and service revenue		3,496			3,480			3,492			3,494			3,478			16			18
Accrued expense and other liabilities		2,781			2,527			2,726			2,607			2,631			254			150
Liabilities of operations held-for-sale		-			-			17			-			-			-			-

Total liabilities	$	178,680		$	179,220		$	182,626		$	182,879		$	183,709		$	(540	)	$	(5,029	)

Equity
Common stock and paid-in capital ⁽³⁾	$	15,176		$	15,134		$	15,104		$	15,069		$	15,048		$	42		$	128
Preferred stock		2,324			2,324			2,324			2,324			2,324			-			-
Retained earnings		360			188			154			197			23			172			337
Accumulated other comprehensive loss		(4,009	)		(3,989	)		(3,816	)		(4,765	)		(3,863	)		(20	)		(146	)

Total equity		13,851			13,657			13,766			12,825			13,532			194			319

Total liabilities and equity	$	192,531		$	192,877		$	196,392		$	195,704		$	197,241		$	(346	)	$	(4,710	)

(1) Includes Held-to-maturity securities.

(2) Unsecured lending from point-of-sale financing. Moved to Assets of Operations Held-For-Sale (HFS) on 12/31/23. Sale of Ally Lending closed on 03/01/24.

(3) Includes Treasury stock.

Note: Numbers may not foot due to rounding


		6

ALLY FINANCIAL INC.

CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾



($ in millions)	QUARTERLY TRENDS															CHANGE VS.
	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Assets
Interest-bearing cash and cash equivalents	$	7,311		$	7,709		$	7,571		$	8,308		$	7,401		$	(398)		$	(90	)
Investment securities and other earning assets		29,233			29,939			29,407			30,364			31,537			(706	)		(2,304	)
Loans held-for-sale, net		220			382			237			278			422			(162	)		(202	)
Total finance receivables and loans, net ^(2) (5)		138,322			139,945			140,326			139,153			137,185			(1,623	)		1,137
Investment in operating leases, net		8,619			8,955			9,415			9,817			10,110			(336	)		(1,491	)

Total interest earning assets		183,705			186,930			186,956			187,920			186,655			(3,225	)		(2,950	)
Noninterest-bearing cash and cash equivalents		360			309			257			335			362			51			(2	)
Other assets		11,587			11,443			11,644			10,925			10,781			144			806
Allowance for loan losses		(3,557	)		(3,589	)		(3,801	)		(3,820	)		(3,777	)		32			220

Total assets	$	192,095		$	195,093		$	195,056		$	195,360		$	194,021		$	(2,998)		$	(1,926	)


Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	142,949		$	143,491		$	140,117		$	139,372		$	138,285		$	(542	)	$	4,664
Other interest-bearing deposit liabilities ⁽³⁾		9,316			11,712			13,391			13,973			13,935			(2,396	)		(4,619	)

Total Interest-bearing deposit liabilities		152,265			155,203			153,508			153,345			152,220			(2,938	)		45
Short-term borrowings		2,254			1,726			2,714			948			833			528			1,421
Long-term debt ⁽⁴⁾		16,367			17,309			17,933			20,315			20,256			(942	)		(3,889	)

Total interest-bearing liabilities ⁽⁴⁾		170,886			174,238			174,155			174,608			173,309			(3,352	)		(2,423	)
Noninterest-bearing deposit liabilities		147			149			164			181			162			(2	)		(15	)
Other liabilities		7,231			7,021			7,826			6,503			6,760			210			471

Total liabilities	$	178,264		$	181,408		$	182,145		$	181,292		$	180,231		$	(3,144)		$	(1,967	)

Equity
Total equity	$	13,831		$	13,685		$	12,911		$	14,068		$	13,790		$	146		$	41

Total liabilities and equity	$	192,095		$	195,093		$	195,056		$	195,360		$	194,021		$	(2,998)		$	(1,926	)

(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.

(4) Includes average Core OID balance of $773 million in 2Q24, $786 million in 1Q24, $799 million in 4Q23, $812 million in 3Q23, and $824 million in 2Q23.

(5) Includes the effects of finance receivables and loans, net that were transferred to loans held-for-sale, net and subsequently transferred to assets of operations held-for-sale as of December 31, 2023.

Note: Numbers may not foot due to rounding


		7

ALLY FINANCIAL INC.

SEGMENT HIGHLIGHTS

($ in millions)


	QUARTERLY TRENDS															CHANGE VS.

	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Pre-tax Income / (Loss)
Automotive Finance	$	407		$	322		$	294		$	377		$	501		$	85		$	(94	)
Insurance		(42	)		70			129			(16	)		8			(112	)		(50	)

Dealer Financial Services		365			392			423			361			509			(27	)		(144	)
Corporate Finance		98			90			79			84			72			8			26
Mortgage Finance		27			25			24			26			21			2			6
Corporate and Other ⁽¹⁾		(233	)		(336	)		(462	)		(243	)		(199	)		103			(34	)

Pre-tax income from continuing operations	$	257		$	171		$	64		$	228		$	403		$	86		$	(146	)
Core OID ^{(2) (4)}		14			13			13			12			12			1			2
Change in the fair value of equity securities ⁽³⁾		28			(11	)		(74	)		56			(25	)		39			53
Repositioning ⁽⁴⁾		-			10			172			30			-			(10	)		-

Core pre-tax income ⁽⁴⁾	$	299		$	183		$	174		$	326		$	390		$	116		$	(91	)

(1) Corporate and Other includes the impact of centralized asset and liability management, corporate overhead allocation activities, the legacy mortgage portfolio, Ally Invest activity, Ally Lending activity and the Credit Card portfolio. The sale of Ally Lending closed on 03/01/24.

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

(3) For more details refer to pages 25-27.

(4) Represents a non-GAAP measure. For more details refer to pages 25-27.

Note: Numbers may not foot due to rounding


		8

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)


	QUARTERLY TRENDS															CHANGE VS.

Income Statement	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Net financing revenue
Consumer	$	1,837		$	1,808		$	1,799		$	1,748		$	1,649		$	29		$	188
Commercial		435			411			394			364			335			24			100
Loans held-for-sale		1			1			1			2			1			-			-
Operating leases		333			356			371			385			392			(23	)		(59	)

Total financing revenue and other interest income		2,606			2,576			2,565			2,499			2,377			30			229
Interest expense		1,115			1,058			1,013			927			828			57			287
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		236			249			260			268			271			(13	)		(34	)
Remarketing gains, net of repo valuation		(59	)		(46	)		(37	)		(57	)		(70	)		(13	)		11

Total depreciation expense on operating lease assets		177			204			222			212			200			(27	)		(23	)

Net financing revenue		1,314			1,314			1,330			1,360			1,349			-			(35	)
Other revenue

Total other revenue		93			97			82			79			83			(4	)		10

Total net revenue		1,407			1,411			1,412			1,439			1,432			(4	)		(25	)
Provision for credit losses		383			448			492			444			331			(65	)		52
Noninterest expense
Compensation and benefits		160			178			163			164			160			(18	)		-
Other operating expenses		457			463			463			454			440			(6	)		17

Total noninterest expense		617			641			626			618			600			(24	)		17

Pre-tax Income	$	407		$	322		$	294		$	377		$	501		$	85		$	(94	)


Memo: Net lease revenue
Operating lease revenue	$	333		$	356		$	371		$	385		$	392		$	(23	)	$	(59	)
Depreciation expense on operating lease assets (ex. remarketing)		236			249			260			268			271			(13	)		(34	)
Remarketing gains, net of repo valuation		(59	)		(46	)		(37	)		(57	)		(70	)		(13	)		11

Total depreciation expense on operating lease assets		177			204			222			212			200			(27	)		(23	)

Net lease revenue	$	156		$	152		$	149		$	173		$	192		$	4		$	(36	)


Balance Sheet (Period-End)
Loans held-for-sale, net	$	6		$	5		$	13		$	21		$	10		$	1		$	(4	)
Consumer loans		83,694			83,587			84,414			85,728			84,725			107			(1,031	)
Commercial loans		25,220			23,765			23,334			21,057			20,732			1,455			4,488
Allowance for loan losses		(3,092	)		(3,083	)		(3,117	)		(3,153	)		(3,103	)		(9	)		11

Total finance receivables and loans, net		105,822			104,269			104,631			103,632			102,354			1,553			3,468
Investment in operating leases, net		8,374			8,731			9,171			9,569			9,930			(357	)		(1,556	)
Other assets		1,570			1,608			1,572			1,520			1,463			(38	)		107

Total assets	$	115,772		$	114,613		$	115,387		$	114,742		$	113,757		$	1,159		$	2,015

Note: Numbers may not foot due to rounding


		9

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - KEY STATISTICS


	QUARTERLY TRENDS										CHANGE VS.

	2Q 24		1Q 24		4Q 23		3Q 23		2Q 23		1Q 24			2Q 23
*U.S. Consumer Originations ⁽¹⁾($ in billions)***
Retail standard - new vehicle GM	$	1.1	$	1.0	$	1.1	$	1.1	$	1.1	$	0.1		$	(0.0	)
Retail standard - new vehicle Stellantis		0.7		0.6		0.7		0.7		0.8		0.1			(0.2	)
Retail standard - new vehicle Other		1.0		0.9		1.0		1.1		1.0		0.1			(0.0	)
Used vehicle		6.1		6.6		6.2		6.9		6.6		(0.5	)		(0.5	)
Lease		0.9		0.7		0.6		0.7		0.8		0.2			0.1
Retail subvented		-		-		-		0.0		0.0		-			(0.0	)

Total originations	$	9.8	$	9.8	$	9.6	$	10.6	$	10.4	$	0.0		$	(0.6	)

U.S. Consumer Originations - FICO Score
Super prime (760-999)	$	2.7	$	2.4	$	2.4	$	2.5	$	2.4	$	0.3		$	0.3
High prime (720-759)		1.4		1.4		1.4		1.5		1.4		-			-
Prime (660-719)		2.8		2.8		2.7		3.1		3.1		0.0			(0.3	)
Prime/Near (620-659)		1.6		1.7		1.5		1.8		1.8		(0.1	)		(0.2	)
Non-Prime (540-619)		0.6		0.7		0.6		0.7		0.7		(0.1	)		(0.1	)
Sub-Prime (0-539)		0.1		0.2		0.2		0.2		0.2		(0.1	)		(0.1	)
No FICO (Primarily CSG)		0.6		0.7		0.8		0.8		0.8		(0.1	)		(0.2	)

Total originations	$	9.8	$	9.8	$	9.6	$	10.6	$	10.4	$	0.0		$	(0.6	)

U.S. Consumer Retail Originations - Average FICO
New vehicle		714		712		718		712		709		3			5
Used vehicle		710		702		703		701		698		9			13
Total retail originations		712		704		707		704		701		7			11

U.S. Market
New light vehicle sales (SAAR - units in millions)		15.7		15.3		15.7		15.7		15.8		0.4			(0.1	)
New light vehicle sales (quarterly - units in millions)		4.1		3.8		3.9		4.0		4.1		0.3			0.0

Dealer Engagement
Total Active DFS Dealers ⁽²⁾		21,825		21,787		21,829		22,323		22,171		38			(346	)
Total Application Volume (000s)		3,732		3,764		3,322		3,674		3,517		(32	)		215

Ally U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings	$	18.7	$	17.3	$	17.0	$	14.9	$	14.6	$	1.3		$	4.0
Dealer loans and other		6.6		6.4		6.3		6.1		6.1		0.1			0.5

Total Commercial outstandings	$	25.2	$	23.8	$	23.3	$	21.1	$	20.7	$	1.5		$	4.5

U.S. Off-Lease Remarketing
Off-lease vehicles terminated - on-balance sheet (# in units)		41,601		31,926		26,237		29,484		29,872		9,675			11,729
Average gain per vehicle	$	1,420	$	1,431	$	1,422	$	1,944	$	2,335	$	(11	)	$	(914	)
Total gain ($ in millions)	$	59	$	46	$	37	$	57	$	70	$	13		$	(11	)

(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) A dealer is considered to have an active relationship with us if we provided automotive financing, remarketing, or insurance services during the three months ended June 30, 2024.

Note: Numbers may not foot due to rounding


		10

ALLY FINANCIAL INC.

INSURANCE - CONDENSED FINANCIAL STATEMENTS AND KEY STATISTICS

($ in millions)


	QUARTERLY TRENDS													CHANGE VS.

Income Statement *(GAAP View)*	2Q 24			1Q 24		4Q 23		3Q 23			2Q 23			1Q 24			2Q 23
Net financing revenue
Total interest and fees on finance receivables and loans⁽¹⁾	$	4		$	3	$	3	$	2		$	3		$	1		$	1
Interest and dividends on investment securities		32			31		34		32			31			1			1
Interest bearing cash		5			5		5		3			2			-			3

Total financing revenue and other interest revenue		41			39		42		37			36			2			5
Interest expense		11			10		9		8			7			1			4

Net financing revenue		30			29		33		29			29			1			1
Other revenue
Insurance premiums and service revenue earned		341			345		335		320			310			(4	)		31
Other gain / (loss) on investments, net		(6	)		35		78		(31	)		25			(41	)		(31	)
Other income, net of losses		3			4		4		4			2			(1	)		1

Total other revenue		338			384		417		293			337			(46	)		1

Total net revenue		368			413		450		322			366			(45	)		2
Noninterest expense
Compensation and benefits expense		26			28		27		26			27			(2	)		(1	)
Insurance losses and loss adjustment expenses		181			112		93		107			134			69			47
Other operating expenses		203			203		201		205			197			-			6

Total noninterest expense		410			343		321		338			358			67			52

Pre-tax income (loss)	$	(42	)	$	70	$	129	$	(16	)	$	8		$	(112	)	$	(50	)


Memo: Income Statement (Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	341		$	345	$	335	$	320		$	310		$	(4	)	$	31
Investment income and other (adjusted) ⁽²⁾		52			47		44		44			30			5			22
Other income		3			4		4		4			2			(1	)		1

Total insurance premiums and other income		396			396		383		368			342			0			54
Expense
Insurance losses and loss adjustment expenses		181			112		93		107			134			69			47
Acquisition and underwriting expenses
Compensation and benefit expense		26			28		27		26			27			(2	)		(1	)
Insurance commission expense		162			161		161		160			158			0			3
Other expense		41			42		40		45			39			(0	)		3

Total acquistion and underwriting expense		229			231		228		231			224			(2	)		5

Total expense		410			343		321		338			358			67			52

Core pre-tax (loss) / income ⁽²⁾		(14	)		53		62		30			(16	)		(67	)		2
Change in the fair value of equity securities ⁽³⁾		(28	)		17		67		(46	)		24			(45	)		(52	)

Income (loss) before income tax expense	$	(42	)	$	70	$	129	$	(16	)	$	8		$	(112	)	$	(50	)


Balance Sheet (Period-End)
Cash and investment securities	$	5,285		$	5,285	$	5,333	$	5,086		$	5,280		$	-		$	5
Intercompany loans⁽¹⁾		727			719		619		547			510			8			217
Premiums receivable and other insurance assets		2,824			2,768		2,767		2,791			2,783			56			41
Other assets		338			328		362		312			317			10			21

Total assets	$	9,174		$	9,100	$	9,081	$	8,736		$	8,890		$	74		$	284


Key Statistics
Total written premiums and revenue ⁽⁴⁾	$	344		$	354	$	333	$	335		$	299		$	(10	)	$	45
Loss ratio ⁽⁵⁾		52.5%			32.2%		27.6%		33.0%			43.0%
Underwriting expense ratio ⁽⁶⁾		66.2%			66.4%		67.2%		71.3%			71.5%

Combined ratio		118.7%			98.6%		94.8%		104.3%			114.6%

(1) Intercompany activity represents excess liquidity placed with corporate segment.

(2) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(3) For more details refer to pages 25-27.

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

(5) 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.

(6) 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.

Note: Numbers may not foot due to rounding


		11

ALLY FINANCIAL INC.

MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)


	QUARTERLY TRENDS															CHANGE VS.

Income Statement	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Net financing revenue
Total financing revenue and other interest income	$	145		$	146		$	147		$	149		$	151		$	(1	)	$	(6	)
Interest expense		92			94			96			96			98			(2	)		(6	)

Net financing revenue		53			52			51			53			53			1			-
Gain on mortgage loans, net		5			6			3			4			5			(1	)		-
Total other revenue		5			6			3			4			5			(1	)		-

Total net revenue		58			58			54			57			58			-			-

Provision for loan losses		(1	)		-			-			(2	)		-			(1	)		(1	)
Noninterest expense
Compensation and benefits expense		5			5			4			5			5			-			-
Other operating expense		27			28			26			28			32			(1	)		(5	)

Total noninterest expense		32			33			30			33			37			(1	)		(5	)

Pre-tax Income	$	27		$	25		$	24		$	26		$	21		$	2		$	6


Balance Sheet (Period-End)
Finance receivables and loans, net:
Consumer loans	$	17,803		$	18,227		$	18,442		$	18,657		$	18,894		$	(424	)	$	(1,091	)
Allowance for loan losses		(17	)		(18	)		(18	)		(19	)		(20	)		1			3

Total finance receivables and loans, net		17,786			18,209			18,424			18,638			18,874			(423	)		(1,088	)
Loans held for sale, net		157			27			25			29			36			130			121
Other assets		67			67			63			78			87			-			(20	)

Total assets	$	18,010		$	18,303		$	18,512		$	18,745		$	18,997		$	(293	)	$	(987	)

Note: Numbers may not foot due to rounding


		12

ALLY FINANCIAL INC.

CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)


	QUARTERLY TRENDS															CHANGE VS.

Income Statement	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Net financing revenue
Total financing revenue and other interest income	$	252		$	269		$	264		$	248		$	234		$	(17	)	$	18
Interest expense		148			158			159			151			142			(10	)		6

Net financing revenue		104			111			105			97			92			(7	)		12
Total other revenue		30			23			23			24			28			7			2

Total net revenue		134			134			128			121			120			-			14
Provision for loan losses		3			(1	)		17			5			15			4			(12	)
Noninterest expense
Compensation and benefits expense		17			27			17			16			17			(10	)		-
Other operating expense		16			18			15			16			16			(2	)		-

Total noninterest expense		33			45			32			32			33			(12	)		-

Pre-tax income	$	98		$	90		$	79		$	84		$	72		$	8		$	26

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

Core pre-tax income ⁽²⁾	$	98		$	90		$	79		$	84		$	71		$	7		$	27


Balance Sheet (Period-End)
Equity securities	$	2		$	5		$	6		$	6		$	6		$	(3	)	$	(4	)
Loans held for sale, net		101			213			253			81			48			(112	)		53
Commercial loans		9,737			10,144			10,905			10,637			10,132			(407	)		(395	)
Allowance for loan losses		(156	)		(152	)		(153	)		(185	)		(176	)		(4	)		20

Total finance receivables and loans, net		9,581			9,992			10,752			10,452			9,956			(411	)		(375	)
Other assets		185			200			201			210			180			(15	)		5

Total assets	$	9,869		$	10,410		$	11,212		$	10,749		$	10,190		$	(541	)	$	(321	)

(1) For more details refer to pages 25-27.

(2) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

Note: Numbers may not foot due to rounding


		13

ALLY FINANCIAL INC.

CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

($ in millions)


	QUARTERLY TRENDS															CHANGE VS.

Income Statement	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Net financing revenue
Total financing revenue and other interest income	$	494		$	552		$	605		$	662		$	656		$	(58	)	$	(162	)
Interest expense		500			602			631			668			606			(102	)		(106	)

Net financing revenue		(6	)		(50	)		(26	)		(6	)		50			44			(56	)
Other revenue
Other gain/(loss) on investments, net		(1	)		(6	)		8			(11	)		-			5			(1	)
Other income, net of losses ⁽¹⁾		40			26			41			46			53			14			(13	)

Total other revenue		39			20			49			35			53			19			(14	)

Total net revenue		33			(30	)		23			29			103			63			(70	)
Provision for loan losses		72			60			78			61			81			12			(9	)
Noninterest expense
Compensation and benefits expense		234			281			242			252			239			(47	)		(5	)
Goodwill impairment		-			-			149			-			-			-			-
Other operating expense ⁽²⁾		(40	)		(35	)		16			(41	)		(18	)		(5	)		(22	)

Total noninterest expense		194			246			407			211			221			(52	)		(27	)

Pre-tax (loss) income	$	(233	)	$	(336	)	$	(462	)	$	(243	)	$	(199	)	$	103		$	(34	)

Change in the fair value of equity securities ⁽³⁾		1			6			(7	)		10			-			(5	)		1
Core OID ⁽⁴⁾		14			13			13			12			12			1			2
Repositioning ⁽³⁾		-			10			172			30			-			(10	)		-

Core pre-tax (loss) income ⁽⁴⁾	$	(218	)	$	(307	)	$	(284	)	$	(191	)	$	(187	)	$	88		$	(31	)


Balance Sheet (Period-End)
Cash, trading and investment securities	$	30,684		$	31,990		$	31,511		$	31,955		$	35,139		$	(1,306	)	$	(4,455	)
Loans held-for-sale, net		52			113			109			158			203			(61	)		(151	)
Consumer loans		2,088			1,995			2,121			3,958			3,751			93			(1,663	)
Commercial loans		241			242			223			223			215			(1	)		26
Intercompany loans⁽⁵⁾		(727	)		(719	)		(619	)		(547	)		(510	)		(8	)		(217	)
Allowance for loan losses		(307	)		(297	)		(299	)		(480	)		(482	)		(10	)		175

Total finance receivables and loans, net		1,295			1,221			1,426			3,154			2,974			74			(1,679	)
Other assets		7,675			7,127			7,179			7,465			7,091			548			584
Assets of operations held-for-sale ⁽⁶⁾		-			-			1,975			-			-			-			-

Total assets	$	39,706		$	40,451		$	42,200		$	42,732		$	45,407		$	(745	)	$	(5,701	)


Core OID Amortization Schedule ⁽⁴⁾	2024			2025			2026			2027			2028 & After
Remaining Core OID amortization expense	$	29		$	66		$	77		$	89			Avg = $126/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 $335 million for 2Q24, $346 million for 1Q24, $342 million for 4Q23, $348 million for 3Q23, and $331 million for 2Q23. The receiving business segment records the allocation of corporate overhead expense within other operating expenses.

(3) For more details refer to pages 25-27.

(4) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(5) Intercompany loans related to activity between Insurance and Corporate and Other for liquidity purposes.

(6) Unsecured lending from point-of-sale financing. Moved to Assets of Operations Held-For-Sale (HFS) on 12/31/23. Sale of Ally Lending closed on 03/01/24.

Note: Numbers may not foot due to rounding


		14

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION


($ in millions)	QUARTERLY TRENDS												CHANGE VS.

Asset Quality - Consolidated ⁽¹⁾	2Q 24			1Q 24		4Q 23		3Q 23			2Q 23		1Q 24			2Q 23
Ending loan balance	$	138,783		$	137,960	$	139,439	$	140,260		$	138,449	$	823		$	334
30+ Accruing DPD	$	3,737		$	3,347	$	3,856	$	3,459		$	3,169	$	390		$	568
30+ Accruing DPD %		2.69%			2.43%		2.76%		2.47%			2.29%
60+ Accruing DPD	$	1,087		$	948	$	1,077	$	934		$	841	$	139		$	246
60+ Accruing DPD %		0.78%			0.69%		0.77%		0.67%			0.61%
Non-performing loans (NPLs)	$	1,215		$	1,252	$	1,394	$	1,500		$	1,404	$	(37	)	$	(189	)
Net charge-offs (NCOs)	$	435		$	539	$	623	$	456		$	399	$	(104	)	$	36
Net charge-off rate ⁽²⁾		1.26%			1.55%		1.77%		1.31%			1.16%
Provision for loan losses	$	457		$	507	$	587	$	508		$	427	$	(50	)	$	30
Allowance for loan losses (ALLL)	$	3,572		$	3,550	$	3,587	$	3,837		$	3,781	$	22		$	(209	)

ALLL as % of Loans ⁽³⁾(4)		2.57%			2.57%		2.57%		2.73%			2.72%
ALLL as % of NPLs ⁽³⁾		294%			284%		257%		256%			269%
ALLL as % of NCOs ⁽³⁾		205%			165%		144%		211%			237%

U.S. Auto Delinquencies - HFI Retail Contract $’s ⁽⁵⁾
30+ Delinquent contract $	$	3,620		$	3,239	$	3,730	$	3,290		$	3,032	$	381		$	588
% of retail contract $outstanding		4.33%			3.88%		4.42%		3.85%			3.60%
60+ Delinquent contract $	$	1,049		$	915	$	1,037	$	878		$	796	$	134		$	253
% of retail contract $ outstanding		1.26%			1.10%		1.23%		1.03%			0.94%

U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract $’s
Net charge-offs	$	378		$	477	$	470	$	393		$	277	$	(99	)	$	101
% of avg. HFI assets ⁽²⁾		1.81%			2.27%		2.21%		1.85%			1.32%

U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract $’s
Net charge-offs	$	(4	)	$	1	$	19	$	(0	)	$	4	$	(5	)	$	(8	)
% of avg. HFI assets ⁽²⁾		(0.07	)%		0.02%		0.34%		-%			0.09%

(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) Excludes provision for credit losses related to our reserve for unfunded commitments.

(4) 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.

(5) Auto delinquency metrics include accruing contracts only.

Note: Numbers may not foot due to rounding


		15

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION, CONTINUED


( $ in millions)

Automotive Finance ⁽¹⁾	QUARTERLY TRENDS										CHANGE VS.

*Consumer*	2Q 24		1Q 24		4Q 23		3Q 23		2Q 23		1Q 24			2Q 23
Allowance for loan losses	$	3,055	$	3,050	$	3,083	$	3,104	$	3,064	$	5		$	(9	)
Total consumer loans ⁽²⁾	$	83,528	$	83,406	$	84,320	$	85,370	$	84,294	$	122		$	(766	)
Coverage ratio ⁽³⁾		3.65%		3.65%		3.65%		3.62%		3.62%

Commercial
Allowance for loan losses	$	37	$	33	$	34	$	49	$	39	$	4		$	(2	)
Total commercial loans	$	25,220	$	23,765	$	23,334	$	21,057	$	20,732	$	1,455		$	4,488
Coverage ratio		0.15%		0.14%		0.15%		0.23%		0.19%

Mortgage ⁽¹⁾
Consumer
Mortgage Finance
Allowance for loan losses	$	17	$	18	$	18	$	19	$	20	$	(1	)	$	(3	)
Total consumer loans	$	17,803	$	18,227	$	18,442	$	18,657	$	18,894	$	(424	)	$	(1,091	)
Coverage ratio		0.09%		0.10%		0.10%		0.10%		0.10%

Mortgage - Legacy
Allowance for loan losses	$	2	$	3	$	3	$	3	$	3	$	(1	)	$	(1	)
Total consumer loans	$	205	$	214	$	225	$	238	$	255	$	(9	)	$	(50	)
Coverage ratio		1.15%		1.26%		1.32%		1.29%		1.28%

Total Mortgage
Allowance for loan losses	$	19	$	21	$	21	$	22	$	23	$	(2	)	$	(4	)
Total consumer loans	$	18,008	$	18,441	$	18,667	$	18,895	$	19,149	$	(433	)	$	(1,141	)
Coverage ratio		0.11%		0.11%		0.11%		0.11%		0.12%

Consumer Other - Ally Lending ^(1) (4)
Allowance for loan losses	$	-	$	-	$	-	$	202	$	210	$	-		$	(210	)
Total consumer loans	$	-	$	-	$	-	$	2,206	$	2,170	$	-		$	(2,170	)
Coverage ratio		-%		-%		-%		9.16%		9.68%

Consumer Other - Ally Credit Card ⁽¹⁾
Allowance for loan losses	$	302	$	291	$	293	$	272		266	$	11		$	36
Total consumer loans	$	2,049	$	1,962	$	1,990	$	1,872		1,757	$	87		$	292
Coverage ratio		14.73%		14.85%		14.72%		14.55%		15.14%

Corporate Finance ⁽¹⁾
Allowance for loan losses	$	156	$	152	$	153	$	185	$	176	$	4		$	(20	)
Total commercial loans	$	9,737	$	10,144	$	10,905	$	10,636	$	10,132	$	(407	)	$	(395	)
Coverage ratio		1.60%		1.50%		1.40%		1.74%		1.74%

Corporate and Other ⁽¹⁾
Allowance for loan losses	$	3	$	3	$	3	$	3	$	3	$	-		$	-
Total commercial loans	$	241	$	242	$	223	$	224	$	215	$	(1	)	$	26
Coverage ratio		1.36%		1.36%		1.36%		1.36%		1.36%

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

(2) Includes ($166M) of fair value adjustment for loans in hedge accounting relationships in 2Q24, ($181M) in 1Q24, ($93M) in 4Q23, ($358M) in 3Q23 and ($432M) in 2Q23.

(3) Excludes ($166M) of fair value adjustment for loans in hedge accounting relationships in 2Q24, ($181M) in 1Q24, ($93M) in 4Q23, ($358M) in 3Q23 and ($432M) in 2Q23.

(4) Unsecured consumer lending from point-of-sale financing. Moved to Assets of Operations Held for Sale on 12/31/2023. Sale of Ally Lending closed on 03/01/2024.

Note: Numbers may not foot due to rounding


		16

ALLY FINANCIAL INC.

CAPITAL


($ in billions)	QUARTERLY TRENDS															CHANGE VS.
Capital	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Risk-weighted assets	$	157.5		$	158.3		$	161.6		$	161.1		$	159.2		$	(0.8	)	$	(1.7	)

Common Equity Tier 1 (CET1) capital ratio		9.6%			9.4%			9.4%			9.3%			9.3%
Tier 1 capital ratio		11.0%			10.8%			10.8%			10.7%			10.7%
Total capital ratio		12.7%			12.5%			12.4%			12.5%			12.5%

Tangible common equity / Tangible assets ⁽¹⁾⁽²⁾		5.6%			5.5%			5.5%			4.9%			5.3%
Tangible common equity / Risk-weighted assets ⁽¹⁾		6.9%			6.7%			6.6%			6.0%			6.5%

Shareholders’ equity	$	13.9		$	13.7		$	13.8		$	12.8		$	13.5		$	0.2		$	0.4
add: CECL phase-in adjustment		0.3			0.3			0.6			0.6			0.6			-			(0.3	)
less: Certain AOCI items and other adjustments		3.3			3.3			3.1			3.9			3.0			-			0.3
Preferred equity		(2.3	)		(2.3	)		(2.3	)		(2.3	)		(2.3	)		-			-

Common Equity Tier 1 capital	$	15.1		$	14.9		$	15.1		$	15.0		$	14.8		$	0.2		$	0.3


Common Equity Tier 1 capital	$	15.1		$	14.9		$	15.1		$	15.0		$	14.8		$	0.2		$	0.3
add: Preferred equity		2.3			2.3			2.3			2.3			2.3			-			-
less: Other adjustments		(0.1	)		(0.1	)		(0.1	)		(0.1	)		(0.1	)		-			-

Tier 1 capital	$	17.4		$	17.2		$	17.4		$	17.3		$	17.1		$	0.2		$	0.3


Tier 1 capital	$	17.4		$	17.2		$	17.4		$	17.3		$	17.1		$	0.2		$	0.3
add: Qualifying subordinated debt		0.7			0.7			0.7			0.9			0.9			-			(0.2	)
Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		1.9			1.9			2.0			2.0			1.9			-			-

Total capital	$	20.0		$	19.8		$	20.1		$	20.1		$	19.9		$	0.2		$	0.1


Total shareholders’ equity	$	13.9		$	13.7		$	13.8		$	12.8		$	13.5		$	0.2		$	0.4
less: Preferred equity		(2.3	)		(2.3	)		(2.3	)		(2.3	)		(2.3	)		-			-
Goodwill and intangible assets, net of deferred tax liabilities		(0.7	)		(0.7	)		(0.7	)		(0.9	)		(0.9	)		-			0.2

Tangible common equity ⁽¹⁾	$	10.8		$	10.6		$	10.7		$	9.6		$	10.3		$	0.2		$	0.5


Total assets	$	192.5		$	192.9		$	196.4		$	195.7		$	197.2		$	(0.4	)	$	(4.7	)
less: Goodwill and intangible assets, net of deferred tax liabilities		(0.7	)		(0.7	)		(0.7	)		(0.9	)		(0.9	)		-			0.2

Tangible assets ⁽²⁾	$	191.8		$	192.2		$	195.7		$	194.8		$	196.4		$	(0.4	)	$	(4.6	)

Note: Numbers may not foot due to rounding

(1) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(2) Ally defines tangible assets as total assets less goodwill and intangible assets, net of deferred tax liabilities.

For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 26.


		17

ALLY FINANCIAL INC.

LIQUIDITY AND DEPOSITS


	QUARTERLY TRENDS										CHANGE VS.
Consolidated Available Liquidity ($ in billions)	2Q 24		1Q 24		4Q 23		3Q 23		2Q 23		1Q 24			2Q 23

Liquid cash and cash equivalents ⁽¹⁾	$	6.7	$	7.4	$	6.5	$	8.0	$	9.5	$	(0.7	)	$	(2.7	)

Highly liquid securities ⁽²⁾		18.9		20.9		20.6		19.6		20.7		(2.0	)		(1.8	)


Subtotal	$	25.6	$	28.3	$	27.1	$	27.6	$	30.2	$	(2.7	)	$	(4.6	)


FHLB Unused Pledged Borrowing Capacity		12.2		13.8		10.3		11.0		12.3		(1.6	)		(0.1	)

FRB Discount Window Unused Pledged Capacity		26.5		26.3		26.0		25.6		2.1		0.2			24.4

Total unused pledged capacity	$	38.8	$	40.0	$	36.4	$	36.6	$	14.4	$	(1.3	)	$	24.4

Total current available liquidity	$	64.3	$	68.3	$	63.5	$	64.1	$	44.6	$	(4.0	)	$	19.8


Unsecured Long-Term Debt Maturity Profile	2024		2025		2026		2027		2028		2029 & After

Consolidated remaining maturities ⁽³⁾	$	0.7	$	2.3	$	—	$	1.5	$	0.8	$	4.6

Ally Bank Deposits

Key Deposit Statistics
Average retail CD maturity (months)		18.7		18.6		19.0		19.1		16.2		0.1			2.5
Average retail deposit rate		4.18%		4.25%		4.15%		4.00%		3.68%

End of Period Deposit Levels ($ in millions)
Retail	$	142,075	$	145,147	$	142,265	$	140,100	$	138,983	$	(3,072	)	$	3,092
Brokered & other		10,079		9,937		12,401		12,735		15,327		142			(5,248	)

Total deposits	$	152,154	$	155,084	$	154,666	$	152,835	$	154,310	$	(2,930	)	$	(2,156	)


Deposit Mix
Retail CD		26%		27%		29%		28%		27%
MMA/OSA/Checking		67%		67%		63%		64%		63%
Brokered & other		7%		6%		8%		8%		10%

(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 MBS, and highly liquid Corporates

(3) Excludes retail notes; as of 6/30/2024. Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs.

Note: Numbers may not foot due to rounding


		18

ALLY FINANCIAL INC.

NET INTEREST MARGIN


($ in millions)	QUARTERLY TRENDS										CHANGE VS.

Average Balance Details	2Q 24		1Q 24		4Q 23		3Q 23		2Q 23		1Q 24			2Q 23
Retail Auto Loans	$	83,427	$	84,056	$	84,711	$	85,131	$	84,097	$	(629)		$	(670)
Auto Lease (net of dep)		8,619		8,955		9,415		9,817		10,110		(336)			(1,491)
Dealer Floorplan		18,003		16,833		15,693		14,507		13,764		1,170			4,239
Other Dealer Loans		6,421		6,339		6,115		6,023		5,945		82			476
Corporate Finance		10,079		10,937		10,787		10,309		10,240		(858)			(161)
Mortgage⁽¹⁾		18,302		18,578		18,788		19,028		19,325		(276)			(1,023)
Consumer Other - Ally Lending ⁽²⁾		—		1,274		2,167		2,201		2,114		(1,274)			(2,114)
Consumer Other - Ally Credit Card		2,001		1,975		1,925		1,826		1,701		26			300
Cash and Cash equivalents		7,311		7,709		7,571		8,308		7,401		(398)			(90)
Investment Securities and Other		29,542		30,274		29,784		30,769		31,958		(732)			(2,416)

Total Earning Assets	$	183,705	$	186,930	$	186,956	$	187,920	$	186,655	$	(3,225)		$	(2,950)

Interest Revenue		3,361		3,378		3,401		3,383		3,254		(17)			107

Unsecured Debt (ex. Core OID balance) ⁽³⁾	$	11,053	$	11,290	$	10,595	$	11,590	$	11,442	$	(237)		$	(389)
Secured Debt		1,227		1,409		2,279		3,120		2,879		(182)			(1,652)
Deposits ⁽⁴⁾		152,412		155,352		153,672		153,526		152,382		(2,940)			30
Other Borrowings		7,114		7,122		8,572		7,365		7,592		(8)			(478)

Total Funding Sources (ex. Core OID balance) ⁽³⁾	$	171,806	$	175,173	$	175,118	$	175,601	$	174,295	$	(3,367)		$	(2,489)
Interest Expense (ex. Core OID) ⁽³⁾		1,852		1,909		1,895		1,838		1,669		(57)			183
Net Financing Revenue (ex. Core OID) ⁽³⁾	$	1,509	$	1,469	$	1,506	$	1,545	$	1,585	$	40		$	(76)
Net Interest Margin (yield details)
Retail Auto Loan		9.19%		9.07%		8.98%		8.90%		8.81%		0.12%			0.38%
Retail Auto Loan (excl. hedge impact)		8.86%		8.65%		8.43%		8.16%		7.87%		0.21%			0.99%
Auto Lease (net of dep)		7.28%		6.85%		6.24%		7.00%		7.60%		0.43%			(0.32)%
Dealer Floorplan		7.64%		7.69%		7.84%		7.88%		7.71%		(0.05)%			(0.07)%
Other Dealer Loans		5.67%		5.61%		5.35%		5.25%		5.16%		0.06%			0.51%
Corporate Finance		10.06%		9.88%		9.70%		9.54%		9.15%		0.18%			0.91%
Mortgage		3.26%		3.25%		3.21%		3.20%		3.22%		0.01%			0.04%
Consumer Other - Ally Lending		—		8.77%		9.86%		9.94%		9.99%		(8.77)%			(9.99)%
Consumer Other - Ally Credit Card		21.59%		21.61%		22.02%		22.39%		21.88%		(0.02)%			(0.29)%
Cash and Cash Equivalents		4.87%		5.04%		4.72%		4.73%		4.70%		(0.17)%			0.17%
Investment Securities and Other		3.66%		3.60%		3.66%		3.53%		3.17%		0.06%			0.49%

Total Earning Assets		7.36%		7.27%		7.22%		7.14%		6.99%		0.09%			0.37%
Unsecured Debt (ex. Core OID & Core OID balance) ⁽³⁾		6.22%		6.19%		6.08%		5.55%		5.40%		0.03%			0.82%
Secured Debt		6.08%		5.74%		5.15%		6.81%		5.61%		0.34%			0.47%
Deposits ⁽⁴⁾		4.21%		4.28%		4.19%		4.04%		3.74%		(0.07	)%		0.47%
Other Borrowings ⁽⁵⁾		3.86%		3.63%		3.79%		3.23%		3.00%		0.23%			0.86%

Total Funding Sources (ex. Core OID & Core OID balance) ⁽³⁾		4.34%		4.38%		4.29%		4.15%		3.84%		(0.04)%			0.50%
NIM (as reported)		3.27%		3.13%		3.17%		3.24%		3.38%		0.14%			(0.11)%
NIM (ex. Core OID & Core OID balance) ⁽³⁾		3.30%		3.16%		3.20%		3.26%		3.41%		0.14%			(0.11)%

(1) Mortgage includes held-for-investment (HFI) loans from the Mortgage Finance segment and the HFI legacy mortgage portfolio in run-off at the Corporate and Other segment.

(2) Unsecured lending from point-of-sale financing. Sale of Ally Lending closed on 03/01/24.

(3) Represents a non-GAAP financial measure. Excludes Core OID from interest expense and Core OID balance from Unsecured Debt. For more details refer to pages 25-27.

(4) Includes retail, brokered, and other deposits. Other includes sweep deposits and other deposits.

(5) Includes FHLB Borrowings, Repurchase Agreements and other.

Note: Numbers may not foot due to rounding


		19

ALLY FINANCIAL INC.

ALLY BANK CONSUMER MORTGAGE HFI PORTFOLIOS (PERIOD-END)


($ in billions)	QUARTERLY TRENDS

Mortgage Finance HFI Portfolio	2Q 24		1Q 24		4Q 23		3Q 23		2Q 23
Loan Value
Gross carry value	$	17.8	$	18.2	$	18.4	$	18.7	$	18.9
Net carry value	$	17.8	$	18.2	$	18.4	$	18.6	$	18.9

Estimated Pool Characteristics
% Second lien		0.0%		0.0%		0.0%		0.0%		0.0%
% Interest only		0.0%		0.0%		0.0%		0.0%		0.0%
% 30+ Day delinquent⁽¹⁾⁽²⁾		0.5%		0.4%		0.5%		0.5%		0.4%
% Low/No documentation		0.0%		0.0%		0.0%		0.0%		0.0%
% Non-primary residence		4.1%		4.1%		4.1%		4.1%		4.1%
Refreshed FICO⁽³⁾		783		781		782		782		782
Wtd. Avg. LTV/CLTV ⁽⁴⁾		50.3%		50.7%		52.2%		53.1%		54.5%

Corporate Other Legacy Mortgage HFI Portfolio
Loan Value
Gross carry value	$	0.2	$	0.2	$	0.2	$	0.2	$	0.3
Net carry value	$	0.2	$	0.2	$	0.2	$	0.2	$	0.3

Estimated Pool Characteristics
% Second lien		12.5%		12.5%		12.5%		12.4%		12.5%
% Interest only		0.2%		0.2%		0.2%		0.2%		0.0%
% 30+ Day delinquent⁽¹⁾⁽²⁾		6.1%		7.0%		7.0%		6.7%		6.6%
% Low/No documentation		26.0%		25.8%		25.5%		25.2%		24.8%
% Non-primary residence		3.0%		3.1%		3.1%		3.2%		3.4%
Refreshed FICO⁽³⁾		742		739		742		743		742
Wtd. Avg. LTV/CLTV ⁽⁴⁾		44.6%		45.0%		46.9%		47.3%		48.1%

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.

Note: Numbers may not foot due to rounding


		20

ALLY FINANCIAL INC.

EARNINGS PER SHARE RELATED INFORMATION


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

Earnings Per Share Data	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
GAAP net income attributable to common shareholders	$	266		$	129		$	49		$	269		$	301		$	137		$	(35	)

Weighted-average common shares outstanding - basic		306,774			306,003			304,506			304,134			303,684			772			3,090

Weighted-average common shares outstanding - diluted		309,886			308,421			306,730			305,693			304,646			1,465			5,241

Issued shares outstanding (period-end)		304,656			303,978			302,459			301,630			301,619			678			3,037

Net income per share - basic	$	0.87		$	0.42		$	0.16		$	0.88		$	0.99		$	0.45		$	(0.12	)


Net income per share - diluted	$	0.86		$	0.42		$	0.16		$	0.88		$	0.99		$	0.44		$	(0.13	)


Adjusted Earnings per Share (“Adjusted EPS”) ⁽²⁾
*Numerator*
GAAP net income attributable to common shareholders	$	266		$	129		$	49		$	269		$	301		$	137		$	(35	)
Discontinued operations, net of tax		-			-			1			-			-			-			-
Core OID		14			13			13			12			12			1			2
Change in the fair value of equity securities ⁽³⁾		28			(11	)		(74	)		56			(25	)		39			53
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)		(9	)		(3	)		(23	)		(21	)		3			(6	)		(12	)
Repositioning ⁽³⁾		-			10			172			30			-			(10	)		-
Significant discrete tax items		-			-			-			(94	)		-			-			-

Core net income attributable to common shareholders ⁽¹⁾	$	299		$	139		$	137		$	252		$	291		$	161		$	8
*Denominator*
Weighted-average common shares outstanding - diluted		309,886			308,421			306,730			305,693			304,646			1,465			5,241
Adjusted EPS ⁽²⁾	$	0.97		$	0.45		$	0.45		$	0.83		$	0.96		$	0.52		$	0.01

GAAP original issue discount amortization expense	$	17		$	17		$	16		$	15		$	15		$	-		$	2
Other OID		(3	)		(3	)		(3	)		(3	)		(3	)		0			0

Core original issue discount (Core OID) amortization expense ⁽¹⁾	$	14		$	13		$	13		$	12		$	12		$	1		$	2


GAAP outstanding original issue discount balance	$	(797	)	$	(815	)	$	(831	)	$	(847	)	$	(863	)	$	18		$	66
Other outstanding OID balance		31			35			39			42			45			(4	)		(14	)

Core outstanding original issue discount balance (Core OID balance) ⁽¹⁾	$	(766	)	$	(779	)	$	(793	)	$	(806	)	$	(818	)	$	14		$	52


GAAP Net Financing Revenue [A]	$	1,495		$	1,456		$	1,493		$	1,533		$	1,573		$	39		$	(78	)
Core OID		14			13			13			12			12			1			2

Net Financing Revenue (ex. Core OID) ^(1) [B]	$	1,509		$	1,469		$	1,506		$	1,545		$	1,585		$	40		$	(76	)


GAAP Other Revenue ^[C]	$	505		$	530		$	574		$	435		$	506		$	(25	)	$	(1	)
Change in the fair value of equity securities ⁽³⁾		28			(11	)		(74	)		56			(25	)		39			53

Adjusted Other Revenue ^{(1) [D]}	$	533		$	519		$	500		$	491		$	481		$	14		$	52


GAAP Provision Expense	$	457		$	507		$	587		$	508		$	427		$	(50	)	$	30
Repositioning		-			-			16			-			-			-			-

Adjusted Provision (ex. Repositioning) ⁽¹⁾	$	457		$	507		$	603		$	508		$	427		$	(50	)	$	30

GAAP Noninterest Expense ^[E]	$	1,286		$	1,308		$	1,416		$	1,232		$	1,249		$	(22	)	$	37
Repositioning and other		-			(10	)		(187	)		(30	)		-			10			-

Adjusted Noninterest Expense ^{(1) [F]}	$	1,286		$	1,298		$	1,229		$	1,202		$	1,249		$	(12	)	$	37

(1) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

(2) Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) change in fair value of equity securities, (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 that have been taken by the company to normalize its capital structure, as applicable for respective periods. See pages

25-27 for details.

(3) For more details refer to pages 25-27.

Note: Numbers may not foot due to rounding


		21

ALLY FINANCIAL INC.

ADJUSTED TANGIBLE BOOK PER SHARE RELATED INFORMATION

($ in millions, shares in thousands)


	QUARTERLY TRENDS															CHANGE VS.

Adjusted Tangible Book Value Per Share (“Adjusted TBVPS”) Information	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24		2Q 23

*Numerator*
GAAP shareholder’s equity	$	13,851		$	13,657		$	13,766		$	12,825		$	13,532		$	194	$	319
Preferred equity		(2,324	)		(2,324	)		(2,324	)		(2,324	)		(2,324	)		-		-

GAAP common shareholder’s equity	$	11,527		$	11,333		$	11,442		$	10,501		$	11,208		$	194	$	319
Goodwill and identifiable intangibles, net of DTLs		(713	)		(720	)		(727	)		(879	)		(887	)		7		174

Tangible common equity ⁽¹⁾		10,814			10,613			10,715			9,622			10,321			201		493
Tax-effected Core OID balance (21% tax rate) ⁽¹⁾		(605	)		(616	)		(626	)		(636	)		(646	)		11		41
Adjusted tangible book value ⁽²⁾	$	10,209		$	9,997		$	10,089		$	8,986		$	9,675		$	212	$	534


*Denominator*
Issued shares outstanding (period-end, thousands)		304,656			303,978			302,459			301,630			301,619			678		3,037

GAAP shareholder’s equity per share	$	45.46		$	44.93		$	45.51		$	42.52		$	44.86		$	0.54	$	0.60
Preferred equity per share		(7.63	)		(7.65	)		(7.68	)		(7.70	)		(7.71	)		0.02		0.08
GAAP common shareholder’s equity per share	$	37.84		$	37.28		$	37.83		$	34.81		$	37.16		$	0.55	$	0.68
Goodwill and identifiable intangibles, net of DTLs per share		(2.34	)		(2.37	)		(2.40	)		(2.91	)		(2.94	)		0.03		0.60

Tangible common equity per share ⁽¹⁾		35.50			34.91			35.43			31.90			34.22			0.58		1.28
Tax-effected Core OID balance (21% tax rate) per share ⁽¹⁾		(1.99	)		(2.03	)		(2.07	)		(2.11	)		(2.14	)		0.04		0.16

Adjusted tangible book value per share ⁽²⁾	$	33.51		$	32.89		$	33.36		$	29.79		$	32.08		$	0.62	$	1.43

(1) Represents a non-GAAP financial measure. For more details refer to pages 25-27.

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

Note: Numbers may not foot due to rounding


		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 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Numerator
GAAP net income attributable to common shareholders	$	266		$	129		$	49		$	269		$	301		$	137		$	(35	)
Discontinued operations, net of tax		-			-			1			-			-			-			-
Core OID ⁽²⁾		14			13			13			12			12			1			2
Change in the fair value of equity securities		28			(11	)		(74	)		56			(25	)		39			53
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)		(9	)		(3	)		(23	)		(21	)		3			(6	)		(12	)
Repositioning ⁽²⁾		-			10			172			30			-			(10	)		-
Significant discrete tax items		-			-			-			(94	)		-			-			-

Core net income attributable to common shareholders ⁽¹⁾	$	299		$	139		$	137		$	252		$	291		$	161		$	8

Denominator (average, $ millions)
GAAP shareholder’s equity	$	13,754		$	13,712		$	13,296		$	13,179		$	13,455		$	43		$	299
Preferred equity		(2,324	)		(2,324	)		(2,324	)		(2,324	)		(2,324	)		-			-
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(717	)		(723	)		(803	)		(883	)		(891	)		7			174

Tangible common equity ⁽¹⁾	$	10,713		$	10,664		$	10,169		$	9,972		$	10,240		$	49		$	473
Core OID balance		(773	)		(786	)		(799	)		(812	)		(824	)		14			51
Net deferred tax asset (“DTA”)		(1,388	)		(1,278	)		(1,378	)		(1,310	)		(1,060	)		(110	)		(328	)

Normalized common equity	$	8,553		$	8,600		$	7,992		$	7,850		$	8,357		$	(47	)	$	196
Core Return on Tangible Common Equity ⁽³⁾		14.0%			6.5%			6.9%			12.9%			13.9%

(1) Represents a non-GAAP measure. See pages 25-27 for methodology and detail.

(2) For more details see pages 25-27.

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

(1)

(2)

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

Note: Numbers may not foot due to rounding


		23

ALLY FINANCIAL INC.

ADJUSTED EFFICIENCY RATIO RELATED INFORMATION

($ in millions)


	QUARTERLY TREND															CHANGE VS.

Adjusted Efficiency Ratio Calculation	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Numerator
GAAP Noninterest Expense	$	1,286		$	1,308		$	1,416		$	1,232		$	1,249		$	(22	)	$	37
Insurance expense		(410	)		(343	)		(321	)		(338	)		(358	)		(67	)		(52	)
Repositioning ⁽²⁾		-			(10	)		(187	)		(30	)		-			10			-

Adjusted noninterest expense for the efficiency ratio	$	876		$	955		$	908		$	864		$	891		$	(79	)	$	(15	)

Denominator
Total net revenue	$	2,000		$	1,986		$	2,067		$	1,968		$	2,079		$	14		$	(79	)
Core OID ⁽²⁾		14			13			13			12			12			1			2
Insurance revenue		(368	)		(413	)		(450	)		(322	)		(366	)		45			(2	)

Adjusted net revenue for the efficiency ratio	$	1,646		$	1,586		$	1,630		$	1,658		$	1,725		$	60		$	(79	)
Adjusted Efficiency Ratio ⁽¹⁾		53.2%			60.2%			55.7%			52.1%			51.7%

(1) Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Insurance segment expense, Rep and warrant expense, and repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant 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.

(2) For more details see pages 25-27.

Note: Numbers may not foot due to rounding


		24

ALLY FINANCIAL INC.

The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), and Tangible Common Equity. These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital.

1) Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt.

2) Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) change in fair value of equity securities, (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 that have been taken by the company to normalize its capital structure, as applicable for respective periods.

3) Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers.

(1)

In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Rep and warrant expense, Insurance segment expense, and repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods.

(2)

In the denominator, total net revenue is adjusted for Core OID and Insurance segment revenue.

4) Adjusted noninterest expense is a non-GAAP financial measure that adjusts GAAP noninterest expense for repositioning items. Management believes adjusted noninterest expense is a helpful financial metric because it enables the reader better understand the business’ expenses excluding nonrecurring items.

5) Adjusted other revenue is a non-GAAP financial measure that adjusts GAAP other revenue for OID expenses, repositioning, and change in fair value of equity securities.

Management believes adjusted other revenue is a helpful financial metric because it enables the reader to better understand the business’ ability to generate other revenue.

6) Adjusted Provision for Credit Losses is a non-GAAP financial measure that adjusts GAAP provision for credit losses for repositioning items. Management believes adjusted provision for credit losses is a helpful financial metric because it enables the reader better understand the business’s expenses excluding nonrecurring items.

7) Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for: (1) goodwill and identifiable intangibles, net of DTLs, (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered, and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods. Note: In December 2017, tax-effected Core OID balance was adjusted from a statutory U.S. Federal tax rate of 35% to 21% (“rate”) as a result of changes to U.S. tax law. The adjustment conservatively increased the tax-effected Core OID balance and consequently reduced Adjusted TBVPS as any acceleration of the non-cash charge in future periods would flow through the financial statements at a 21% rate versus a previously modeled 35% rate.

8) Adjusted total net revenue is a non-GAAP financial measure that management believes is helpful for readers to understand the ongoing ability of the company to generate revenue. For purposes of this calculation, GAAP net financing revenue is adjusted by excluding Core OID to calculate net financing revenue ex. core OID. GAAP other revenue is adjusted for OID expenses, repositioning, and change in fair value of equity securities to calculate adjusted other revenue. Adjusted total net revenue is calculated by adding net financing revenue ex. core OID to adjusted other revenue.

9) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income.


		25

ALLY FINANCIAL INC.

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

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

12) 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.

13) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, and (2) change in fair value of equity securities (change in fair value of equity securities impacts the Insurance and Corporate Finance segments), and (3) Repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods or businesses. Management believes core pre- tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings.

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

(1)

In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax-effected repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one- time items, change in fair value of equity securities, 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.

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

16) Investment income and other (adjusted) is a non-GAAP financial measure that adjusts GAAP investment income and other for repositioning, and the change in fair value of equity securities. Management believes investment income and other (adjusted) is a helpful financial metric because it enables the reader to better understand the business' ability to generate investment income.


		26

ALLY FINANCIAL INC.

17) Net financing revenue excluding core OID is calculated using a non-GAAP measure that adjusts net financing revenue by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net financing revenue ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’ ability to generate revenue.

18) Net interest margin excluding core OID is calculated using a non-GAAP measure that adjusts net interest margin by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net interest margin ex. Core OID is a helpful financial metric because it enables the reader to better understand the business’ profitability and margins.

19) Repositioning is primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, amounts related to nonrecurring business transactions or pending transactions, and significant other one-time items.

20) Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Ally believes that tangible common equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core return on tangible common equity (Core ROTCE), tangible common equity is further adjusted for Core OID balance and net deferred tax asset.


		27

Document and Entity Information	Jul. 17, 2024
Cover [Abstract]
Entity Central Index Key	0000040729
Amendment Flag	false
Document Type	8-K
Document Period End Date	Jul. 17, 2024
Entity File Number	1-3754
Entity Registrant Name	ALLY FINANCIAL INC.
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	38-0572512
Entity Address, Address Description	Ally Detroit Center
Entity Address, Address Line One	500 Woodward Ave.
Entity Address, Address Line Two	Floor 10
Entity Address, City or Town	Detroit
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48226
City Area Code	866
Local Phone Number	710-4623
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security Exchange Name	NYSE
Security 12b Title	Common Stock, par value $0.01 per share
Trading Symbol	ALLY
Entity Emerging Growth Company	false

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ALLY Ally Financial Inc