Ally Financial (ALLY) 8-K Ally Financial Reports Third Quarter 2018 Financial Results

Exhibit 99.3

THIRD QUARTER 2018

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 Form10-K, Quarterly Reports on Form10-Q, and Current Reports on Form8-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 our statements about targets and expectations for various financial and operating metrics. 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 Form10-K for the year ended December 31, 2017, our subsequent Quarterly Reports on Form10-Q or Current Reports on Form8-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 identifiednon-GAAP financial measures, which supplement the results that are reported according to generally accepted accounting principles (“GAAP”). Thesenon-GAAP financial measures may be useful to investors but should not be viewed in isolation from, or as a substitute for, GAAP results. Differences betweennon-GAAP financial measures and comparable GAAP financial measures are reconciled in the presentation.

Our use of the term “loans” describes all of the products associated with our direct and indirect lending activities. The specific products include loans, retail installment sales contracts, lines of credit, leases, and other financing products. The term “lend” or “originate” refers to our direct origination of loans or our purchase or acquisition of loans.

3Q 2018 Preliminary Results 2

ALLY FINANCIAL INC. TABLE OF CONTENTS

	Page(s)
Consolidated Results
Consolidated Financial Highlights		4
Consolidated Income Statement		5
ConsolidatedPeriod-End Balance Sheet		6
Consolidated Average Balance Sheet		7
Segment Detail
Segment Highlights		8
Automotive Finance		9-10
Insurance		11
Mortgage Finance		12
Corporate Finance		13
Corporate and Other		14
Credit Related Information		15-16
Supplemental Detail
Capital		17
Liquidity		18
Net Interest Margin and Deposits		19
Ally Bank Consumer Mortgage HFI Portfolios		20
Earnings Per Share Related Information		21
Adjusted Tangible Book Per Share Related Information		22
Core ROTCE Related Information		23
Adjusted Efficiency Ratio Related Information		24

3Q 2018 Preliminary Results 3

ALLY FINANCIAL INC. CONSOLIDATED FINANCIAL HIGHLIGHTS

($ in millions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Selected Income Statement Data	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Net financing revenue (ex. Core OID)(1)	$	1,129		$	1,115		$	1,069		$	1,113		$	1,099		$	14		$	30
Core OID		(22	)		(21	)		(20	)		(19	)		(18	)		(1	)		(4	)
Net financing revenue (as reported)		1,107			1,094			1,049			1,094			1,081			13			26
Other revenue (ex. change in the fair value of equity securities)(2)		392			356			394			379			381			36			11
Change in the fair value of equity securities(3)		6			8			(40	)		-			-			(2	)		6
Other revenue (as reported)		398			364			354			379			381			34			17
Provision for loan losses		233			158			261			294			314			75			(81	)
Total noninterest expense (4)		807			839			814			769			753			(32	)		54
Pre-tax income from continuing operations		465			461			328			410			395			4			70
Income tax expense		91			113			76			231			115			(22	)		(24	)
Income / (loss) from discontinued operations, net of tax		-			1			(2	)		2			2			(1	)		(2	)
Net income attributable to common shareholders	$	374		$	349		$	250		$	181		$	282		$	25		$	92
Selected Balance Sheet Data(Period-End)
Total assets	$	173,101		$	171,345		$	170,021		$	167,148		$	164,013		$	1,756		$	9,088
Consumer loans		86,501			85,604			84,002			81,821			79,092			897			7,409
Commercial loans		40,104			39,940			41,325			41,072			39,779			164			325
Allowance for loan losses		(1,248	)		(1,257	)		(1,278	)		(1,276	)		(1,286	)		9			38
Deposits		101,379			98,734			97,446			93,256			90,116			2,645			11,263
Total equity		13,085			13,139			13,082			13,494			13,573			(54	)		(488	)
Common Share Count
Weighted average basic(5)		422,187			430,628			436,213			442,108			449,169			(8,441	)		(26,982	)
Weighted average diluted(5)		424,784			432,554			438,931			444,985			451,078			(7,770	)		(26,294	)
Issued shares outstanding(period-end)		416,591			425,752			432,691			437,054			443,796			(9,162	)		(27,206	)
Per Common Share Data
Earnings per share (basic)(5)	$	0.89		$	0.81		$	0.57		$	0.41		$	0.63		$	0.08		$	0.26
Earnings per share (diluted)(5)		0.88			0.81			0.57			0.41			0.63			0.07			0.26
Adjusted earnings per share(6)		0.91			0.83			0.68			0.70			0.65			0.08			0.26
Book value per share		31.4			30.9			30.2			30.9			30.6			0.5			0.8
Tangible book value per share (7)		30.7			30.2			29.6			30.2			29.9			0.5			0.8
Adjusted tangible book value per share(7)		28.6			28.1			27.4			28.1			28.2			0.5			0.4
Select Financial Ratios
Net interest margin (as reported)		2.67%			2.68%			2.64%			2.75%			2.74%
Net interest margin (ex. Core OID)(8)		2.72%			2.74%			2.69%			2.80%			2.78%
Cost of funds		2.45%			2.30%			2.16%			2.01%			2.01%
Cost of funds (ex. Core OID)(8)		2.38%			2.23%			2.09%			1.94%			1.94%
Efficiency Ratio (9)		53.6%			57.5%			58.0%			52.2%			51.5%
Adjusted efficiency ratio(8)(9)		46.0%			47.7%			50.1%			46.4%			44.9%
Return on average assets(10)		0.9%			0.8%			0.6%			0.4%			0.7%
Return on average total equity(10)		11.4%			10.6%			7.5%			5.3%			8.3%
Return on average tangible common equity(10)		11.7%			10.9%			7.7%			5.5%			8.5%
Core ROTCE(11)		13.7%			12.8%			10.6%			10.8%			10.3%
Capital Ratios(12)
Common Equity Tier 1 (CET1) capital ratio		9.4%			9.4%			9.3%			9.5%			9.7%
Tier 1 capital ratio		11.1%			11.1%			11.0%			11.2%			11.5%
Total capital ratio		12.7%			12.7%			12.6%			12.9%			13.2%
Tier 1 leverage ratio		9.2%			9.2%			9.3%			9.5%			9.5%

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

(2) Represents anon-GAAP financial measure. Adjusted for change in the fair value of equity securities due to the implementation of ASU2016-01, effective 1/1/18, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity. ForNon-GAAP calculation methodology and details see page 21.

(3) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity.

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

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

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

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

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

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

(10) Return metrics are annualized.

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

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

3Q 2018 Preliminary Results 4

ALLY FINANCIAL INC. CONSOLIDATED INCOME STATEMENT

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	1,708		$	1,647		$	1,543		$	1,518		$	1,486		$	61		$	222
Interest on loansheld-for-sale		4			6			-			-			-			(2	)		4
Total interest and dividends on investment securities		182			173			163			153			150			9			32
Interest-bearing cash		18			17			15			14			11			1			7
Other earning assets		16			15			13			9			7			1			9
Operating leases		368			374			382			402			434			(6	)		(66	)
Total financing revenue and other interest income		2,296			2,232			2,116			2,096			2,088			64			208
Interest expense
Interest on deposits		462			399			351			311			285			63			177
Interest on short-term borrowings		29			40			32			33			34			(11	)		(5	)
Interest on long-term debt		451			434			411			396			416			17			35
Total interest expense		942			873			794			740			735			69			207
Depreciation expense on operating lease assets		247			265			273			262			272			(18	)		(25	)
Net financing revenue (as reported)	$	1,107		$	1,094		$	1,049		$	1,094		$	1,081		$	13		$	26
Other revenue
Servicing fees		6			7			8			10			11			(1	)		(6	)
Insurance premiums and service revenue earned		258			239			256			253			252			19			6
Gain on mortgage and automotive loans, net		17			1			1			3			15			16			2
Loss on extinguishment of debt		-			-			-			(1	)		(4	)		-			4
Other gain/loss on investments, net		22			27			(12	)		29			23			(5	)		(1	)
Other income, net of losses		95			91			100			86			83			4			12
Total other revenue		398			364			354			379			381			34			17
Total net revenue		1,505			1,458			1,403			1,473			1,462			47			43
Provision for loan losses		233			158			261			294			314			75			(81	)
Noninterest expense
Compensation and benefits expense		274			292			306			281			264			(18	)		10
Insurance losses and loss adjustment expenses		77			101			63			54			65			(24	)		12
Other operating expenses		456			446			445			434			424			10			32
Total noninterest expense		807			839			814			769			753			(32	)		54
Pre-tax income from continuing operations	$	465		$	461		$	328		$	410		$	395		$	4		$	70
Income tax expense from continuing operations		91			113			76			231			115			(22	)		(24	)
Net income from continuing operations		374			348			252			179			280			26			94
Income / (loss) from discontinued operations, net of tax		-			1			(2	)		2			2			(1	)		(2	)
Net income	$	374		$	349		$	250		$	181		$	282		$	25		$	92
CorePre-Tax Income Walk
Net financing revenue (ex. Core OID)(1)	$	1,129		$	1,115		$	1,069		$	1,113		$	1,099		$	14		$	30
Adjusted other revenue(2)		392			356			394			379			381			36			11
Provision for loan losses		233			158			261			294			314			75			(81	)
Noninterest expense		807			839			814			769			753			(32	)		54
Corepre-tax income(3)	$	481		$	474		$	388		$	429		$	413		$	7		$	68
Core OID		22			21			20			19			18			1			4
Change in the fair value of equity securities(4)		(6	)		(8	)		40			-			-			2			(6	)
Pre-tax income from continuing operations	$	465		$	461		$	328		$	410		$	395		$	4		$	70

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

(2) Represents anon-GAAP financial measure. Excludes equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity. For more details refer to page 21.

(3) Corepre-tax income is anon-GAAP financial measure that adjustspre-tax income from continuing operations by excluding (1) Core OID and (2) equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity. Management believes corepre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings.

(4) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity.

3Q 2018 Preliminary Results 5

ALLY FINANCIAL INC. CONSOLIDATEDPERIOD-END BALANCE SHEET

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Assets
Cash and cash equivalents
Noninterest-bearing	$	802		$	799		$	768		$	844		$	810		$	3		$	(8	)
Interest-bearing		2,970			3,125			2,953			3,408			3,614			(155	)		(644	)
Total cash and cash equivalents		3,772			3,924			3,721			4,252			4,424			(152	)		(652	)
Investment securities(1)		26,882			25,906			25,373			24,720			24,938			976			1,944
Loansheld-for-sale, net		425			328			126			108			18			97			407
Finance receivables and loans		126,605			125,544			125,327			122,893			118,871			1,061			7,734
Allowance for loan losses		(1,248	)		(1,257	)		(1,278	)		(1,276	)		(1,286	)		9			38
Total finance receivables and loans, net		125,357			124,287			124,049			121,617			117,585			1,070			7,772
Investment in operating leases, net		8,578			8,639			8,530			8,741			8,931			(61	)		(353	)
Premiums receivables and other insurance assets		2,291			2,247			2,197			2,047			2,054			44			237
Other assets		5,796			6,014			6,025			5,663			6,063			(218	)		(267	)
Total assets	$	173,101		$	171,345		$	170,021		$	167,148		$	164,013		$	1,756		$	9,088
Liabilities
Deposit liabilities
Noninterest-bearing	$	180		$	153		$	122		$	108		$	129		$	27		$	51
Interest-bearing		101,199			98,581			97,324			93,148			89,987			2,618			11,212
Total deposit liabilities		101,379			98,734			97,446			93,256			90,116			2,645			11,263
Short-term borrowings		7,338			7,108			9,564			11,413			10,175			230			(2,837	)
Long-term debt		45,542			47,328			45,076			44,226			45,122			(1,786	)		420
Interest payable		712			568			494			375			552			144			160
Unearned insurance premiums and service revenue		3,020			2,957			2,904			2,604			2,583			63			437
Accrued expense and other liabilities		2,025			1,511			1,455			1,780			1,892			514			133
Total liabilities	$	160,016		$	158,206		$	156,939		$	153,654		$	150,440		$	1,810		$	9,576
Equity
Common stock andpaid-in capital(2)	$	19,582		$	19,813		$	19,978		$	20,135		$	20,303		$	(231	)	$	(721	)
Accumulated deficit		(5,716	)		(6,026	)		(6,318	)		(6,406	)		(6,533	)		310			817
Accumulated other comprehensive (loss) income		(781	)		(648	)		(578	)		(235	)		(197	)		(133	)		(584	)
Total equity		13,085			13,139			13,082			13,494			13,573			(54	)		(488	)
Total liabilities and equity	$	173,101		$	171,345		$	170,021		$	167,148		$	164,013		$	1,756		$	9,088

(1) Includesheld-to-maturity securities.

(2) Includes Treasury stock.

3Q 2018 Preliminary Results 6

ALLY FINANCIAL INC. CONSOLIDATED AVERAGE BALANCE SHEET⁽¹⁾

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Assets
Interest-bearing cash and cash equivalents	$	3,159		$	3,048		$	3,503		$	3,825		$	3,148		$	111		$	11
Investment securities		27,313			26,987			26,316			25,252			25,111			326			2,202
Loansheld-for-sale, net		318			358			28			13			6			(40	)		312
Total finance receivables and loans, net(2)		124,986			124,516			122,531			119,877			119,051			470			5,935
Investment in operating leases, net		8,634			8,583			8,629			8,831			9,320			51			(686	)
Total interest earning assets		164,410			163,492			161,007			157,798			156,636			918			7,774
Noninterest-bearing cash and cash equivalents		502			526			514			527			720			(24	)		(218	)
Other assets		7,331			7,505			7,286			7,271			7,740			(174	)		(409	)
Allowance for loan losses		(1,260	)		(1,274	)		(1,281	)		(1,287	)		(1,226	)		14			(34	)
Total assets	$	170,983		$	170,249		$	167,526		$	164,309		$	163,870		$	734		$	7,113
Liabilities
Interest-bearing deposit liabilities	$	99,815		$	97,351		$	95,299		$	91,339		$	88,115		$	2,464		$	11,700
Short-term borrowings		5,531			8,767			8,342			9,819			9,137			(3,236	)		(3,606	)
Long-term debt(3)		46,967			45,802			45,535			44,696			47,965			1,165			(998	)
Total interest-bearing liabilities(3)		152,313			151,920			149,176			145,854			145,217			393			7,096
Noninterest-bearing deposit liabilities		149			126			114			109			106			23			43
Other liabilities		5,388			5,134			5,040			4,804			5,001			254			387
Total liabilities	$	157,850		$	157,180		$	154,330		$	150,767		$	150,324		$	670		$	7,526
Equity
Total equity	$	13,133		$	13,069		$	13,196		$	13,542		$	13,546		$	64		$	(413	)
Total liabilities and equity	$	170,983		$	170,249		$	167,526		$	164,309		$	163,870		$	734		$	7,113

(1) Average balances are calculated using a combination of monthly and daily average methodologies. Periods prior to 4Q 16 may not tie to previous Financial Supplement disclosures due to the current methodology which includes equity investment security balances within investment securities, previously included within other assets.

(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 average Core OID balance of $1,126 million in 3Q 18, $1,148 million in 2Q 18, $1,168 million in 1Q 18, $1,188 million in 4Q 17, and $1,206 million in 3Q 17.

3Q 2018 Preliminary Results 7

ALLY FINANCIAL INC. SEGMENT HIGHLIGHTS

($ in millions)

	QUARTERLY TRENDS													CHANGE VS.
	3Q 18			2Q 18			1Q 18			4Q 17		3Q 17		2Q 18			3Q 17
Pre-tax Income
Automotive Finance	$	383		$	382		$	268		$	285	$	300	$	1		$	83
Insurance		55			11			27			80		69		44			(14	)
Dealer Financial Services		438			393			295			365		369		45			69
Corporate Finance		36			58			29			32		22		(22	)		14
Mortgage Finance		8			14			8			2		2		(6	)		6
Corporate and Other(1)		(17	)		(4	)		(4	)		11		2		(13	)		(19	)
Pre-tax income from continuing operations	$	465		$	461		$	328		$	410	$	395	$	4		$	70
Core OID(2)		22			21			20			19		18		1			4
Change in the fair value of equity securities(3)		(6	)		(8	)		40			-		-		2			(6	)
Corepre-tax income(4)	$	481		$	474		$	388		$	429	$	413	$	7		$	67

(1) 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, Ally Invest activity included within the Corporate & Other segment.

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

(3) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity.

(4) Corepre-tax income is anon-GAAP financial measure that adjustspre-tax income from continuing operations by excluding (1) Core OID and (2) equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity. Management believes corepre-tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings.

3Q 2018 Preliminary Results 8

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)    

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Net financing revenue
Consumer	$	1,097		$	1,058		$	1,012		$	1,009		$	987		$	39		$	110
Commercial		381			371			342			336			341			10			40
Operating leases		368			374			382			402			434			(6	)		(66	)
Other interest income		2			1			2			1			2			1			-
Total financing revenue and other interest income		1,849			1,804			1,738			1,748			1,764			45			85
Interest expense		646			614			556			547			542			32			104
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		274			281			291			306			324			(7	)		(50	)
Remarketing gains		27			16			18			44			51			11			(24	)
Total depreciation expense on operating lease assets		247			265			273			262			272			(18	)		(25	)
Net financing revenue		956			925			909			939			950			31			6
Other revenue
Servicing fees		6			7			8			10			11			(1	)		(5	)
Gain/(loss) on automotive loans, net		18			-			-			3			14			18			4
Other income		56			55			58			52			57			1			(1	)
Total other revenue		80			63			66			65			82			17			(2	)
Total net revenue		1,036			988			975			1,004			1,032			48			4
Provision for loan losses		229			170			259			288			312			59			(83	)
Noninterest expense
Compensation and benefits		120			130			131			132			124			(10	)		(4	)
Other operating expenses		304			306			317			299			296			(2	)		8
Total noninterest expense		424			436			448			431			420			(12	)		4
Income before income tax expense	$	383		$	382		$	268		$	285		$	300		$	1		$	83
Memo: Net lease revenue
Operating lease revenue	$	368		$	374		$	382		$	402		$	434		$		(6)	$	(66	)
Depreciation expense on operating lease assets (ex. remarketing)		274			281			291			306			324			(7	)		(50	)
Remarketing gains (losses), net of repo valuation		27			16			18			44			51			11			(24	)
Total depreciation expense on operating lease assets		247			265			273			262			272			(18	)		(25	)
Net lease revenue	$	121		$	109		$	109		$	140		$	162		$	12		$	(41	)
Balance Sheet(Period-End)
Cash, trading and investment securities	$	23		$	23		$	23		$	23		$	23		$	-		$	-
Consumer loans		70,048			70,512			69,348			68,053			67,053			(464	)		2,995
Commercial loans		35,881			35,645			36,935			37,058			36,005			236			(124	)
Allowance for loan losses		(1,107	)		(1,121	)		(1,134	)		(1,129	)		(1,134	)		14			27
Total finance receivables and loans, net		104,822			105,036			105,149			103,982			101,924			(214	)		2,898
Investment in operating leases, net		8,578			8,639			8,530			8,741			8,931			(61	)		(353	)
Other assets		1,252			1,217			1,232			1,343			1,263			35			(11	)
Total assets	$	114,675		$	114,915		$	114,934		$	114,089		$	112,141		$	(240	)	$	2,534

3Q 2018 Preliminary Results 9

ALLY FINANCIAL INC. AUTOMOTIVE FINANCE - KEY STATISTICS

	QUARTERLY TRENDS										CHANGE VS.
	3Q 18		2Q 18		1Q 18		4Q 17		3Q 17		2Q 18			3Q 17
U.S. Consumer Originations(1)($ in billions)
Retail standard - new vehicle GM	$	0.9	$	1.2	$	1.5	$	1.8	$	1.5	$	(0.3	)	$	(0.6	)
Retail standard - new vehicle Chrysler		0.8		0.9		0.9		1.0		0.9		(0.1	)		(0.1	)
Retail standard - new vehicle Growth		1.0		1.2		1.2		1.2		1.1		(0.2	)		(0.1	)
Used vehicle		4.3		4.9		4.8		3.8		3.6		(0.6	)		0.6
Lease		1.0		1.2		1.0		1.3		0.9		(0.3	)		0.1
Retail subvented		0.1		0.1		0.0		0.0		0.0		0.1			0.1
Total originations	$	8.1	$	9.6	$	9.5	$	9.1	$	8.1	$	(1.4	)	$	0.0
U.S. Consumer Originations - FICO Score
Super Prime (CB 740+)	$	2.0	$	2.3	$	2.4	$	2.5	$	2.1	$	(0.4	)	$	(0.2	)
Prime (CB660-739)		3.0		3.5		3.4		3.2		2.9		(0.5	)		0.1
Prime/Near (CB620-659)		1.9		2.2		2.2		2.0		1.9		(0.3	)		0.0
Non Prime (CB540-619)		0.7		0.9		0.8		0.7		0.7		(0.1	)		0.0
Sub Prime (CB0-539)		0.1		0.1		0.1		0.1		0.1		(0.0	)		(0.0	)
Commercial Services Group(2)		0.5		0.5		0.6		0.6		0.5		(0.0	)		0.1
Total originations	$	8.1	$	9.6	$	9.5	$	9.1	$	8.1	$	(1.4	)	$	0.0
U.S. Market
Light vehicle sales(SAAR - units in millions)		16.9		17.2		17.1		17.6		17.1		(0.3	)		(0.2	)
Light vehicle sales(quarterly - units in millions)		4.3		4.5		4.1		4.3		4.4		(0.2	)		(0.1	)
GM market share		16.3%		16.9%		17.5%		18.6%		17.8%
Chrysler market share		13.2%		13.4%		12.6%		11.1%		11.6%
Ally U.S. Consumer Penetration
GM		5.0%		5.9%		7.6%		8.1%		7.0%
Chrysler		10.3%		12.5%		13.1%		15.8%		13.1%
Ally U.S. Commercial Outstandings EOP($ in billions)
Floorplan outstandings	$	29.6	$	29.4	$	30.7	$	31.0	$	30.0	$	0.2		$	(0.4	)
Dealer loans and other		6.2		6.3		6.2		6.1		6.0		(0.0	)		0.3
Total Commercial outstandings	$	35.9	$	35.6	$	36.9	$	37.1	$	36.0	$	0.2		$	(0.1	)
U.S.Off-Lease Remarketing
Off-lease vehicles terminated -on-balance sheet(# in units)		29,018		35,919		44,722		54,161		64,461		(6,901	)		(35,443	)
Average (loss) / gain per vehicle	$	944	$	447	$	404	$	809	$	791	$	497		$	154
Total gain / (loss)($ in millions)	$	27	$	16	$	18	$	44	$	51	$	11		$	(24	)

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

(2) Commercial Services Group (CSG) are business customers. Average annualized credit losses of40-45 bps on CSG loans for 2016 and 2017.

3Q 2018 Preliminary Results 10

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

($ in millions)    

	QUARTERLY TRENDS											CHANGE VS.
Income Statement(GAAP View)	3Q 18		2Q 18		1Q 18			4Q 17		3Q 17		2Q 18			3Q 17
Net financing revenue
Interest and dividends on investment securities	$	29	$	26	$	26		$	26	$	26	$	3		$	3
Interest bearing cash		2		3		2			2		2		(1	)		-
Total financing revenue and other interest revenue		31		29		28			28		28		2			3
Interest expense		17		16		16			13		13		1			4
Net financing revenue		14		13		12			15		15		1			(1	)
Other revenue
Insurance premiums and service revenue earned		258		239		256			253		252		19			6
Other gain/(loss) on investments, net		22		25		(14	)		23		19		(3	)		3
Other income, net of losses		2		2		4			2		1		-			1
Total other revenue		282		266		246			278		272		16			10
Total net revenue		296		279		258			293		287		17			9
Noninterest expense
Compensation and benefits expense		18		18		21			19		17		-			1
Insurance losses and loss adjustment expenses		77		101		63			54		65		(24	)		12
Other operating expenses		146		149		147			140		136		(3	)		10
Total noninterest expense		241		268		231			213		218		(27	)		23
Income (Loss) before income tax expense	$	55	$	11	$	27		$	80	$	69	$	44		$	(14	)
Memo: Income Statement(Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	258	$	239	$	256		$	253	$	252	$	19		$	6
Investment income (adjusted)(1)		29		30		33			38		34		(1	)		(5	)
Other income		2		2		4			2		1		-			1
Total insurance premiums and other income		289		271		293			293		287		18			2
Expense
Insurance losses and loss adjustment expenses		77		101		63			54		65		(24	)		12
Acquisition and underwriting expenses
Compensation and benefit expense		18		18		21			19		17		-			1
Insurance commission expense		113		109		110			106		106		4			7
Other expense		33		40		37			34		30		(7	)		3
Total acquisition and underwriting expense		164		167		168			159		153		(3	)		11
Total expense		241		268		231			213		218		(27	)		23
Corepre-tax income(1)		48		3		62			80		69		45			(21	)
Change in the fair value of equity securities(1)		7		8		(35	)		-		-		(1	)		7
Income (Loss) before income tax expense	$	55	$	11	$	27		$	80	$	69	$	44		$	(14	)
Balance Sheet(Period-End)
Cash, trading and investment securities	$	5,248	$	5,145	$	5,116		$	5,171	$	5,136	$	103		$	112
Premiums receivable and other insurance assets		2,308		2,263		2,213			2,064		2,069		45			239
Other assets		220		226		228			229		227		(6	)		(7	)
Total assets	$	7,776	$	7,634	$	7,557		$	7,464	$	7,432	$	142		$	344
Key Statistics
Total written premiums and revenue(2)	$	323	$	278	$	275		$	265	$	272	$	45		$	51
Loss ratio(3)		29.4%		41.9%		24.3%			21.3%		25.7%
Underwriting expense ratio(4)		63.1%		69.4%		64.5%			62.2%		60.3%
Combined ratio		92.6%		111.2%		88.8%			83.5%		86.0%

(1) Represents anon-GAAP financial measure. Excludes equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity.

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

(3) Loss Ratio is calculated as Insurance losses and loss adjustment expenses divided by Insurance premiums and service revenue earned and Other Income, net of losses.

(4) Underwriting Expense Ratio is calculated as Compensation and benefits expense and Other operating expenses divided by Insurance premiums and service revenue earned and Other Income, net of losses.

3Q 2018 Preliminary Results 11

ALLY FINANCIAL INC. MORTGAGE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Net financing revenue
Total financing revenue and other interest income	$	126		$	114		$	105		$	87		$	78		$	12		$	48
Interest expense		82			70			62			53			46			12			36
Net financing revenue		44			44			43			34			32			-			12
Gain on mortgage loans, net		2			1			1			1			1			1			1
Other income, net of losses		-			1			-			-			1			(1	)		(1	)
Total other revenue		2			2			1			1			2			-			-
Total net revenue		46			46			44			35			34			-			12
Provision for loan losses		2			-			2			2			4			2			(2	)
Noninterest expense
Compensation and benefits expense		8			8			8			7			6			-			2
Other operating expense		28			24			26			24			22			4			6
Total noninterest expense		36			32			34			31			28			4			8
Income before income tax expense	$	8		$	14		$	8		$	2		$	2		$	(6	)	$	6
Balance Sheet(Period-End)
Finance receivables and loans, net:
Consumer loans	$	14,840		$	13,328		$	12,733		$	11,657		$	9,760		$	1,512		$	5,080
Allowance for loan losses		(20	)		(18	)		(20	)		(19	)		(16	)		(2	)		(4	)
Total finance receivables and loans, net		14,820			13,310			12,713			11,638			9,744			1,510			5,076
Other assets		76			75			67			70			60			1			16
Total assets	$	14,896		$	13,385		$	12,780		$	11,708		$	9,804		$	1,511		$	5,092

3Q 2018 Preliminary Results 12

ALLY FINANCIAL INC. CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Net financing revenue
Total financing revenue and other interest income	$	82		$	89		$	74		$	70		$	62		$	(7	)	$	20
Interest expense		32			32			28			24			23			-			9
Net financing revenue		50			57			46			46			39			(7	)		11
Total other revenue (adjusted)(1)		14			14			13			12			5			1			9
Total net revenue		64			71			59			58			44			(6	)		20
Provision for loan losses		8			(6	)		-			7			3			14			5
Noninterest expense
Compensation and benefits expense		13			12			15			11			12			1			1
Other operating expense		7			7			10			8			7			-			-
Total noninterest expense		20			19			25			19			19			1			1
Corepre-tax income(1)		36			58			34			32			22			(21	)		14
Change in the fair value of equity securities(2)		(0	)		0			(5	)		-			-			(1	)		(0	)
Income before income tax expense	$	36		$	58		$	29		$	32		$	22		$	(22	)	$	14
Balance Sheet(Period-End)
Cash, trading and investment securities	$	11		$	12		$	12		$	-		$	-		$	(1	)	$	11
Loans held for sale		112			275			101			77			9			(163	)		103
Commercial loans		4,356			4,184			4,278			3,910			3,703			172			653
Allowance for loan losses		(76	)		(68	)		(69	)		(68	)		(69	)		(8	)		(7	)
Total finance receivables and loans, net		4,280			4,116			4,209			3,842			3,634			164			646
Other assets		56			55			53			60			56			1			-
Total assets	$	4,459		$	4,458		$	4,375		$	3,979		$	3,699		$	1		$	760

(1) Represents anon-GAAP financial measure. Excludes equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity. See page 21 for more details.

(2) Excludes equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity.

3Q 2018 Preliminary Results 13

ALLY FINANCIAL INC. CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Income Statement	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Net financing revenue
Total financing revenue and other interest income	$	208		$	196		$	171		$	163		$	156		$	12		$	52
Interest expense
Core original issue discount amortization		22			21			20			19			18			1			4
Other interest expense		143			120			112			84			93			23			50
Total interest expense		165			141			132			103			111			24			54
Net financing revenue (deficit)		43			55			39			60			45			(12	)		(2	)
Other revenue
(Loss) on extinguishment of debt		-			-			-			(1	)		(4	)		-			4
Other gain on investments, net		1			1			6			6			4			-			(3	)
Other income, net of losses (1)		19			18			27			18			20			1			(1	)
Total other revenue		20			19			33			23			20			1			-
Total net revenue (deficit)		63			74			72			83			65			(11	)		(2	)
Provision for loan losses		(6	)		(6	)		-			(3	)		(5	)		-			(1	)
Noninterest expense
Compensation and benefits expense		115			124			131			112			105			(9	)		10
Other operating expense(2)		(29	)		(40	)		(55	)		(37	)		(37	)		11			8
Total noninterest expense		86			84			76			75			68			2			18
(Loss) / income from cont. ops before income tax expense	$	(17	)	$	(4	)	$	(4	)	$	11		$	2		$	(13	)	$	(19	)
Balance Sheet(Period-End)
Cash, trading and investment securities	$	25,372		$	24,650		$	23,943		$	23,778		$	24,203		$	722		$	1,169
Loansheld-for-sale		45			40			18			18			-			5			45
Consumer loans		1,613			1,764			1,920			2,111			2,279			(151	)		(666	)
Commercial loans(3)		122			111			113			104			71			11			51
Allowance for loan losses		(45	)		(50	)		(55	)		(60	)		(67	)		5			22
Total finance receivables and loans, net		1,690			1,825			1,978			2,155			2,283			(135	)		(593	)
Other assets		4,188			4,438			4,436			3,957			4,451			(250	)		(263	)
Total assets	$	31,295		$	30,953		$	30,375		$	29,908		$	30,937		$	342		$	358
Core OID Amortization Schedule (4)	2018			2019			2020			2021			2022 & After
Remaining Core OID amortization expense	$	23		$	27		$	31		$	36			Avg = $53/yr

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

(2) Other operating expenses includes corporate overhead allocated to the other business segments. Amounts of corporate overhead allocated were $208 million for 3Q18, $206 million for 2Q18, $220 million for 1Q18, $199 million for 4Q17, and $194 million for 3Q17. The receiving business segment records the allocation of corporate overhead expense within other operating expenses.

(3) Includes intercompany.

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

3Q 2018 Preliminary Results 14

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION

($ in millions)

	QUARTERLY TRENDS											CHANGE VS.
Asset Quality - Consolidated(1)	3Q 18		2Q 18		1Q 18			4Q 17		3Q 17		2Q 18			3Q 17
Ending loan balance	$	126,605	$	125,544	$	125,327		$	122,893	$	118,871	$	1,060		$	7,734
30+ Accruing DPD	$	2,235	$	2,046	$	1,951		$	2,451	$	2,167	$	189		$	67
30+ Accruing DPD %		1.76%		1.63%		1.56%			1.99%		1.82%
Non-performing loans (NPLs)	$	903	$	905	$	863		$	792	$	807	$	(2	)	$	96
Net charge-offs (NCOs)	$	235	$	180	$	259		$	305	$	253	$	56		$	(17	)
Netcharge-off rate(2)		0.75%		0.57%		0.84%			1.01%		0.85%
Provision for loan losses	$	233	$	158	$	261		$	294	$	314	$	75		$	(80	)
Allowance for loan losses (ALLL)	$	1,248	$	1,257	$	1,278		$	1,276	$	1,286	$	(9	)	$	(38	)
ALLL as % of Loans(3) (4)		1.0%		1.0%		1.0%			1.0%		1.1%
ALLL as % of NPLs(3)		138%		139%		148%			161%		159%
ALLL as % of NCOs(3)		133%		175%		123%			105%		127%
US Auto Delinquencies - HFI Retail Contract $’s(5)
Delinquent contract $	$	2,139	$	1,960	$	1,812		$	2,337	$	2,043	$	179		$	95
% of retail contract $ outstanding		3.06%		2.78%		2.61%			3.43%		3.05%
U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract $’s
Net charge-offs	$	233	$	182	$	253		$	294	$	242	$	51		$	(9	)
% of avg. HFI assets (2)		1.32%		1.04%		1.47%			1.74%		1.45%
U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract $’s
Net charge-offs	$	3	$	2	$	(0	)	$	1	$	1	$	1		$	2
% of avg. HFI assets (2)		0.04%		0.02%		0.00%			0.01%		0.01%

(1) Loans within this table are classified asheld-for-investment recorded at amortized cost as these loans are included in our allowance for loan losses.

(2) Netcharge-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 loansheld-for-sale during the year for each loan category.

(3) ALLL coverage ratios are based on the allowance for loan losses related to loansheld-for-investment excluding those loans held at fair value as a percentage of the unpaid principal balance, net of premiums and discounts.    

(4) Excludes ($52) million of fair value adjustment for loans in hedge accounting relationships in 3Q18, ($40) million in 2Q18, ($31) million in 1Q18, $18 million in 4Q17 and $24 million in 3Q17.

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

3Q 2018 Preliminary Results 15

ALLY FINANCIAL INC. CREDIT RELATED INFORMATION, CONTINUED

($ in millions)

CONTINUING OPERATIONS

Automotive Finance(1)	QUARTERLY TRENDS										CHANGE VS.
Consumer	3Q 18		2Q 18		1Q 18		4Q 17		3Q 17		2Q 18			3Q 17
Allowance for loan losses	$	1,043	$	1,053	$	1,066	$	1,066	$	1,074	$	(9	)	$	(30	)
Total consumer loans(2)	$	69,995	$	70,473	$	69,318	$	68,071	$	67,077	$	(477	)	$	2,919
Coverage ratio(3)		1.5%		1.5%		1.5%		1.6%		1.6%
Commercial
Allowance for loan losses	$	64	$	68	$	68	$	63	$	60	$	(5	)	$	3
Total commercial loans	$	35,626	$	35,645	$	36,935	$	37,058	$	36,005	$	(19	)	$	(379	)
Coverage ratio		0.2%		0.2%		0.2%		0.2%		0.2%
Mortgage(1)
Consumer
Mortgage Finance
Allowance for loan losses	$	20	$	18	$	20	$	19	$	16	$	1		$	4
Total consumer loans	$	14,840	$	13,328	$	12,733	$	11,657	$	9,760	$	1,511		$	5,080
Coverage ratio		0.1%		0.1%		0.2%		0.2%		0.2%
Mortgage - Legacy
Allowance for loan losses	$	44	$	48	$	54	$	60	$	65	$	(4	)	$	(22	)
Total consumer loans	$	1,666	$	1,803	$	1,950	$	2,093	$	2,255	$	(137	)	$	(589	)
Coverage ratio		2.6%		2.7%		2.8%		2.9%		2.9%
Total Mortgage
Allowance for loan losses	$	64	$	66	$	74	$	79	$	81	$	(3	)	$	(18	)
Total consumer loans	$	16,506	$	15,131	$	14,683	$	13,750	$	12,015	$	1,374		$	4,490
Coverage ratio		0.4%		0.4%		0.5%		0.6%		0.7%
Corporate Finance (1)
Allowance for loan losses	$	76	$	68	$	69	$	68	$	69	$	8		$	7
Total commercial loans	$	4,356	$	4,184	$	4,278	$	3,910	$	3,703	$	171		$	652
Coverage ratio		1.7%		1.6%		1.6%		1.7%		1.9%
Corporate and Other (1)
Allowance for loan losses	$	1	$	2	$	1	$	0	$	2	$	(0	)	$	(0	)
Total commercial loans	$	122	$	111	$	113	$	104	$	71	$	11		$	51
Coverage ratio		1.1%		1.6%		1.3%		0.4%		2.2%

(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 ($52) million of fair value adjustment for loans in hedge accounting relationships in 3Q18, ($40) million in 2Q18, ($31) million in 1Q18, $18 million in 4Q17 and $24 million in 3Q17.

(3) Excludes ($52) million of fair value adjustment for loans in hedge accounting relationships in 3Q18, ($40) million in 2Q18, ($31) million in 1Q18, $18 million in 4Q17 and $24 million in 3Q17.

3Q 2018 Preliminary Results 16

ALLY FINANCIAL INC. CAPITAL

($ in billions)

	QUARTERLY TRENDS															CHANGE VS.
	Basel III Transition
Capital(1)	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18		3Q 17
Risk-weighted assets	$	142.2		$	141.6		$	141.2		$	138.9		$	135.6		$	0.6	$	6.6
Common Equity Tier 1 (CET1) capital ratio(2)		9.4%			9.4%			9.3%			9.5%			9.7%
Tier 1 capital ratio		11.1%			11.1%			11.0%			11.2%			11.5%
Total capital ratio		12.7%			12.7%			12.6%			12.9%			13.2%
Tangible common equity / Tangible assets(3)(4)		7.4%			7.5%			7.5%			7.9%			8.1%
Tangible common equity / Risk-weighted assets(3)		9.0%			9.1%			9.1%			9.5%			9.8%
Shareholders’ equity	$	13.1		$	13.1		$	13.1		$	13.5		$	13.6		$	-	$	(0.5	)
less:   Disallowed DTA		(0.2	)		(0.3	)		(0.3	)		(0.2	)		(0.3	)		0.1		0.1
Certain AOCI items and other adjustments		0.5			0.4			0.3			-			(0.1	)		0.1		0.6
Common Equity Tier 1 capital(2)	$	13.4		$	13.3		$	13.1		$	13.2		$	13.2		$	0.1	$	0.2
Common Equity Tier 1 capital	$	13.4		$	13.3		$	13.1		$	13.2		$	13.2		$	0.1	$	0.2
add: Trust preferred securities		2.5			2.5			2.5			2.5			2.5			-		-
less:   Other adjustments		(0.1	)		(0.1	)		(0.1	)		(0.1	)		(0.1	)		-		-
Tier 1 capital	$	15.8		$	15.7		$	15.5		$	15.6		$	15.5		$	0.1	$	0.3
Tier 1 capital	$	15.8		$	15.7		$	15.5		$	15.6		$	15.5		$	0.1	$	0.3
add: Qualifying subordinated debt and redeemable preferred stock		1.0			1.0			1.0			1.1			1.1			-		(0.1	)
Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		1.2			1.2			1.2			1.2			1.2			-		-
Total capital	$	18.0		$	17.9		$	17.8		$	18.0		$	17.9		$	0.1	$	0.1
Total shareholders’ equity	$	13.1		$	13.1		$	13.1		$	13.5		$	13.6		$	-	$	(0.5	)
Goodwill and intangible assets, net of deferred tax liabilities		(0.3	)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		0.0		-
Tangible common equity(3)	$	12.8		$	12.8		$	12.8		$	13.2		$	13.3		$	-	$	(0.5	)
Total assets	$	173.1		$	171.3		$	170.0		$	167.1		$	164.0		$	1.8	$	9.1
less:   Goodwill and intangible assets, net of deferred tax liabilities		(0.3	)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		0.0		-
Tangible assets(4)	$	172.8		$	171.1		$	169.7		$	166.9		$	163.7		$	1.7	$	9.1
Regulatory Capital - Basel III transition to fully phased-in
Numerator
Common equity tier 1 capital (transition)	$	13.4		$	13.3		$	13.1		$	13.2		$	13.2
DTAs arising from NOL and tax credit carryforwards phased-in during transition		-			-			-			(0.1	)		(0.1	)
Intangibles phased-in during transition		-			-			-			(0.0	)		(0.0	)
Common equity tier 1 capital (fully phased-in)	$	13.4		$	13.3		$	13.1		$	13.2		$	13.1
Denominator
Risk-weighted assets (transition)	$	142.2		$	141.6		$	141.2		$	138.9		$	135.6
DTAs arising from temporary differences that could not be realized through NOL , net of VA and net of DTLs phased-in during transition		0.3			0.3			0.3			0.3			0.4
Intangibles phased in during transition		-			-			-			(0.0	)		(0.0	)
Risk-weighted assets (fully phased-in)	$	142.5		$	141.9		$	141.6		$	139.2		$	136.0
Metric
Common equity tier 1 (transition)		9.4%			9.4%			9.3%			9.5%			9.7%
Common equity tier 1 (fully phased-in)(2)		9.4%			9.3%			9.2%			9.5%			9.6%

Note: Numbers may not foot due to rounding

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

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

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

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

3Q 2018 Preliminary Results 17

ALLY FINANCIAL INC. LIQUIDITY

($ in billions)

	9/30/2018				6/30/2018				9/30/2017
Available Liquidity	Parent(1)		Ally Bank		Parent(1)		Ally Bank		Parent(1)		Ally Bank
Cash and cash equivalents(2)	$	1.2	$	2.0	$	1.4	$	2.0	$	1.9	$	2.4
Highly liquid securities(3)		1.6		13.9		1.5		11.9		1.6		10.9
Current committed unused capacity		2.4		-		2.9		-		2.8		2.3
Subtotal	$	5.2	$	15.9	$	5.8	$	13.9	$	6.3	$	15.6
Ally Bank intercompany loan(4)		-		-		-		-		-		-
Total current available liquidity	$	5.2	$	15.9	$	5.8	$	13.9	$	6.3	$	15.6
Unsecured Long-Term Debt Maturity Profile	2018		2019		2020		2021		2022		2023 & after
Consolidated remaining maturities(5)	$	1.2	$	1.7	$	2.3	$	0.7	$	1.1	$	7.5

(1) Parent company liquidity is defined as our consolidated operations less Ally Bank and the regulated subsidiaries of Ally Insurance’s holding company

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

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

(4) To optimize use of cash and secured facility capacity between entities, Ally Financial lends cash to Ally Bank from time to time under an intercompany loan agreement. Amounts outstanding on this loan are repayable to Ally Financial at any time, subject to 5 days notice

(5) Excludes Core OID balance. For more details refer to page 21.

3Q 2018 Preliminary Results 18

ALLY FINANCIAL INC. NET INTEREST MARGIN AND DEPOSITS

($ in millions)

	QUARTERLY TRENDS										CHANGE VS.
Average Balance Details	3Q 18		2Q 18		1Q 18		4Q 17		3Q 17		2Q 18			3Q 17
Retail Auto Loans	$	70,547	$	69,941	$	68,727	$	67,501	$	66,909	$	606		$	3,638
Auto Lease (net of dep)		8,634		8,583		8,629		8,831		9,320		51			(686	)
Commercial Auto		34,529		35,470		35,463		35,926		36,998		(941	)		(2,469	)
Corporate Finance		4,228		4,232		4,121		3,936		3,558		(4	)		670
Mortgage		15,660		14,767		14,119		12,445		11,521		893			4,139
Cash, Securities and Other		30,812		30,499		29,948		29,159		28,330		313			2,482
Total Earning Assets	$	164,410	$	163,492	$	161,007	$	157,798	$	156,636	$	918		$	7,774
Interest Revenue		2,049		1,967		1,843		1,834		1,816		82			233
Unsecured Debt (ex. Core OID balance)(1)(4)	$	15,014	$	15,728	$	16,478	$	17,881	$	19,543	$	(714	)	$	(4,529	)
Secured Debt		18,840		17,638		18,878		18,985		23,070		1,202			(4,230	)
Deposits(2)		99,964		97,477		95,413		91,448		88,221		2,487			11,743
Other Borrowings(3)		19,770		22,351		19,689		18,837		15,695		(2,581	)		4,075
Total Funding Sources (ex. Core OID balance)(1)	$	153,588	$	153,194	$	150,458	$	147,151	$	146,529	$	394		$	7,059
Interest Expense (ex. Core OID)(1)		920		852		774		721		717		68			203
Net Financing Revenue (ex. Core OID)(1)	$	1,129	$	1,115	$	1,069	$	1,113	$	1,099	$	14		$	30
Net Interest Margin (yield details)
Retail Auto Loan		6.20%		6.08%		5.90%		5.90%		5.82%		0.12%			0.38%
Auto Lease (net of dep)		5.56%		5.09%		5.12%		6.29%		6.90%		0.47%			-1.34%
Commercial Auto		4.40%		4.20%		3.91%		3.70%		3.66%		0.20%			0.74%
Corporate Finance		7.41%		7.96%		7.28%		7.06%		6.91%		-0.55%			0.50%
Mortgage		3.65%		3.59%		3.62%		3.44%		3.44%		0.06%			0.21%
Cash, Securities and Other		2.83%		2.77%		2.60%		2.41%		2.37%		0.06%			0.46%
Total Earning Assets		4.94%		4.83%		4.64%		4.61%		4.60%		0.11%			0.34%
Unsecured Debt (ex. Core OID & Core OID balance)(1)(4)		5.79%		5.76%		5.59%		5.15%		5.10%		0.03%			0.69%
Secured Debt		2.79%		2.65%		2.42%		2.22%		2.14%		0.14%			0.65%
Deposits(2)		1.84%		1.64%		1.49%		1.35%		1.28%		0.20%			0.56%
Other Borrowings(3)		2.13%		1.97%		1.71%		1.47%		1.42%		0.16%			0.71%
Total Funding Sources (ex. Core OID & Core OID balance)(1)		2.38%		2.23%		2.09%		1.94%		1.94%		0.15%			0.44%
NIM (as reported)		2.67%		2.68%		2.64%		2.75%		2.74%		-0.01%			-0.07%
NIM (ex. Core OID & Core OID balance)(1)		2.72%		2.74%		2.69%		2.80%		2.78%		-0.02%			-0.06%
Key Deposit Statistics
Average retail CD maturity (months)		22.0		22.2		22.9		24.9		26.9		(0.3	)		(5.0	)
Average retail deposit rate		1.78%		1.58%		1.45%		1.30%		1.23%
Ally Financial Deposits Levels
Ally Bank retail	$	84,629	$	81,737	$	81,657	$	77,925	$	74,928	$	2,892		$	9,701
Ally Bank brokered		16,567		16,839		15,661		15,211		15,044		(272	)		1,523
Other		183		158		128		120		143		25			40
Total deposits	$	101,379	$	98,734	$	97,446	$	93,256	$	90,116	$	2,645		$	11,263
Ally Bank Deposit Mix
Retail CD		34%		34%		35%		34%		31%
MMA/OSA/Checking		49%		48%		48%		50%		52%
Brokered		17%		17%		16%		16%		17%

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

(2) Includes brokered deposits.

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

(4) Includes trust preferred securities.

3Q 2018 Preliminary Results 19

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

($ in billions)

	HISTORICAL QUARTERLY TRENDS
Mortgage Finance HFI Portfolio	3Q 18		2Q 18		1Q 18		4Q 17		3Q 17
Loan Value
Gross carry value	$	14.8	$	13.3	$	12.7	$	11.7	$	9.8
Net carry value	$	14.8	$	13.3	$	12.7	$	11.6	$	9.7
Estimated Pool Characteristics
% Second lien		0.0%		0.0%		0.0%		0.0%		0.0%
% Interest only		0.1%		0.1%		0.1%		0.1%		0.2%
% 30+ Day delinquent		0.4%		0.5%		1.0%		0.6%		0.8%
% Low/No documentation		0.0%		0.0%		0.0%		0.0%		0.0%
% Non-primary residence		4.2%		4.1%		4.1%		4.0%		4.0%
Refreshed FICO		772		772		770		772		772
Wtd. Avg. LTV/CLTV(1)		60.8%		60.2%		60.4%		60.8%		61.2%
Corporate Other Legacy Mortgage HFI Portfolio
Loan Value
Gross carry value	$	1.7	$	1.8	$	2.0	$	2.1	$	2.3
Net carry value	$	1.6	$	1.8	$	1.9	$	2.0	$	2.2
Estimated Pool Characteristics
% Second lien		15.2%		15.3%		15.7%		15.7%		16.5%
% Interest only		0.2%		0.3%		0.8%		0.8%		0.9%
% 30+ Day delinquent		6.1%		6.1%		5.8%		6.2%		5.3%
% Low/No documentation		23.3%		23.2%		22.9%		22.8%		22.7%
% Non-primary residence		7.5%		7.6%		7.5%		7.5%		7.5%
Refreshed FICO		730		728		727		730		729
Wtd. Avg. LTV/CLTV(1)		67.8%		69.5%		70.2%		71.5%		72.3%

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

3Q 2018 Preliminary Results 20

ALLY FINANCIAL INC. EARNINGS PER SHARE RELATED INFORMATION

($ in millions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Earnings Per Share Data	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
GAAP net income attributable to common shareholders	$	374		$	349		$	250		$	181		$	282		$	25		$	92
Weighted-average common shares outstanding - basic(1)		422,187			430,628			436,213			442,108			449,169			(8,441	)		(26,982	)
Weighted-average common shares outstanding - diluted(1)		424,784			432,554			438,931			444,985			451,078			(7,770	)		(26,294	)
Issued shares outstanding (period-end)		416,591			425,752			432,691			437,054			443,796			(9,162	)		(27,206	)
Net income (loss) per share - basic(1)	$	0.89		$	0.81		$	0.57		$	0.41		$	0.63		$	0.08		$	0.26
Net income (loss) per share - diluted(1)	$	0.88		$	0.81		$	0.57		$	0.41		$	0.63		$	0.07		$	0.26
Adjusted Earnings per Share (“Adjusted EPS”)
Numerator
GAAP net income attributable to common shareholders	$	374		$	349		$	250		$	181		$	282		$	25		$	92
(Loss) / income from discontinued operations, net of tax		-			(1	)		2			(2	)		(2	)		1			2
Core OID		22			21			20			19			18			1			4
Change in the fair value of equity securities(2)		(6	)		(8	)		40			-			-			2			(6	)
Core OID & change in the fair value of equity securities tax(tax rate 21% starting 1Q18; 35% starting 1Q16; 34% prior)(2)		(3	)		(3	)		(13	)		(7	)		(6	)		(1	)		3
Significant discrete tax items		-			-			-			119			-			-			-
Core net income attributable to common shareholders(3)	$	386		$	358		$	300		$	310		$	292		$	28		$	95
Denominator
Weighted-average common shares outstanding - diluted(1)		424,784			432,554			438,931			444,985			451,078			(7,770	)		(26,294	)
Adjusted EPS(4)	$	0.91		$	0.83		$	0.68		$	0.70		$	0.65		$	0.08		$	0.26
Memo
Original Issue Discount Amortization Expense
Core original issue discount (Core OID) amortization expense(5)	$	22		$	21		$	20		$	19		$	18		$	1		$	4
Other OID		4			4			4			5			5			(0	)		(1	)
GAAP original issue discount amortization expense	$	25		$	25		$	24		$	24		$	23		$	1		$	2
Outstanding Original Issue Discount Balance
Core outstanding original issue discount balance (Core OID balance)(6)	$	(1,115	)	$	(1,137	)	$	(1,158	)	$	(1,178	)	$	(1,197	)	$	22		$	81
Other outstanding OID balance		(46	)		(49	)		(53	)		(57	)		(62	)		4			16
GAAP outstanding original issue discount balance	$	(1,161	)	$	(1,187	)	$	(1,211	)	$	(1,235	)	$	(1,259	)	$	25		$	98
Adjusted Other Revenue
GAAP Other Revenue	$	398		$	364		$	354		$	379		$	381		$	34		$	17
Change in the fair value of equity securities(2)		(6	)		(8	)		40			-			-			2			(6	)
Adjusted Other Revenue	$	392		$	356		$	394		$	379		$	381		$	36		$	11
Net Financing Revenue (ex. Core OID)
GAAP net financing revenue	$	1,107		$	1,094		$	1,049		$	1,094		$	1,081		$	13		$	26
Core OID		22			21			20			19			18			1			4
Net Financing Revenue (ex. Core OID)	$	1,129		$	1,115		$	1,069		$	1,113		$	1,099		$	14		$	30

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

(2) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU 2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity.

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

(4) Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) excludes equity fair value adjustments (net of tax) related to ASU 2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity that do not reflect the operating performance of the core businesses, and (4) excludes certain discrete tax items that do not relate to the operating performance of the core businesses.

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

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

3Q 2018 Preliminary Results 21

ALLY FINANCIAL INC. ADJUSTED TANGIBLE BOOK PER SHARE RELATED INFORMATION

($ in billions, shares in thousands)

	QUARTERLY TRENDS															CHANGE VS.
Adjusted Tangible Book Value Per Share (“Adjusted TBVPS”) Information	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Numerator
GAAP Common shareholder’s equity	$	13.1		$	13.1		$	13.1		$	13.5		$	13.6		$	(0.1	)	$	(0.5	)
Goodwill and identifiable intangibles, net of DTLs		(0.3	)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		0.0			(0.0	)
Tangible common equity		12.8			12.8			12.8			13.2			13.3			(0.1	)		(0.5	)
Tax-effected Core OID balance(21% tax rate starting 4Q’17, 35% previously)		(0.9	)		(0.9	)		(0.9	)		(0.9	)		(0.8	)		0.0			(0.1	)
Adjusted tangible book value(1)	$	11.9		$	12.0		$	11.9		$	12.3		$	12.5		$	(0.0	)	$	(0.6	)
Denominator
Issued shares outstanding (period-end, thousands)		416,591			425,752			432,691			437,054			443,796			(9,162	)		(27,206	)
GAAP Common shareholder’s equity per share	$	31.4		$	30.9		$	30.2		$	30.9		$	30.6			0.5			0.8
Goodwill and identifiable intangibles, net of DTLs per share		(0.7	)		(0.7	)		(0.7	)		(0.7	)		(0.6	)		(0.0	)		(0.0	)
Tangible common equity per share		30.7			30.2			29.6			30.2			29.9			0.5			0.8
Tax-effected Core OID(21% tax rate starting 4Q’17, 35% previously) per share		(2.1	)		(2.1	)		(2.1	)		(2.1	)		(1.8	)		(0.0	)		(0.4	)
Adjusted tangible book value per share(1)	$	28.6		$	28.1		$	27.4		$	28.1		$	28.2		$	0.5		$	0.4

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

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

3Q 2018 Preliminary Results 22

ALLY FINANCIAL INC. CORE ROTCE RELATED INFORMATION

($ in millions) unless noted otherwise
	QUARTERLY TRENDS															CHANGE VS.
Core Return on Tangible Common Equity (“Core ROTCE”)	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Numerator
GAAP net income attributable to common shareholders	$	374		$	349		$	250		$	181		$	282		$	25		$	92
Discontinued operations, net of tax		-			(1	)		2			(2	)		(2	)		1			2
Core OID		22			21			20			19			18			1			4
Change in the fair value of equity securities(1)		(6	)		(8	)		40			-			-			2			(6	)
Core OID & change in the fair value of equity securities tax(tax rate 21% starting 1Q18; 35% starting 1Q16; 34% prior)(1)		(3	)		(3	)		(13	)		(7	)		(6	)		(1	)		3
Significant Discrete tax items & other		-			-			-			119			-			-			-
Core net income attributable to common shareholders (2)	$	386		$	358		$	300		$	310		$	292		$	28		$	95
Denominator(2-period average, $ billions)
GAAP shareholder’s equity	$	13.1		$	13.1		$	13.3		$	13.5		$	13.5		$	0.0		$	(0.4	)
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		(0.3	)		0.0			(0.0	)
Tangible common equity	$	12.8		$	12.8		$	13.0		$	13.2		$	13.2		$	0.0		$	(0.4	)
Core OID balance		(1.1	)		(1.1	)		(1.2	)		(1.2	)		(1.2	)		0.0			0.1
Net deferred tax asset (“DTA”)		(0.4	)		(0.5	)		(0.5	)		(0.6	)		(0.7	)		0.1			0.3
Normalized common equity (3)	$	11.2		$	11.2		$	11.3		$	11.5		$	11.3		$	0.1		$	(0.0	)
Core Return on Tangible Common Equity(4)		13.7%			12.8%			10.6%			10.8%			10.3%

(1) Change in fair value of equity securities impacts the Insurance and Corporate Finance segments. Excludes equity fair value adjustments related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity.

(2) Core net income attributable to common shareholders is anon-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, certain discrete tax items andtax-effected changes in equity investments measured at fair value.

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

(4) Core return on tangible common equity (Core ROTCE) is anon-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 any discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share.

1. In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax,tax-effected Core OID, fair value adjustments (net of tax) related to ASU2016-01, effective 1/1/2018, which requires change in the fair value of equity securities to be recognized in current period net income as compared to prior periods in which such adjustments were recognized through other comprehensive income, a component of equity, and certain discrete tax items.

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

3Q 2018 Preliminary Results 23

ALLY FINANCIAL INC. ADJUSTED EFFICIENCY RATIO RELATED INFORMATION

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
Adjusted Efficiency Ratio Calculation	3Q 18			2Q 18			1Q 18			4Q 17			3Q 17			2Q 18			3Q 17
Numerator
GAAP noninterest expense	$	807		$	839		$	814		$	769		$	753		$	(32	)	$	54
Rep and warrant expense		(0	)		2			0			0			0			(2	)		(0	)
Insurance expense		(241	)		(268	)		(231	)		(213	)		(218	)		27			(23	)
Adjusted noninterest expense for the Adjusted Efficiency Ratio	$	566		$	573		$	583		$	556		$	535		$	(7	)	$	31
Denominator
Total net revenue	$	1,505		$	1,458		$	1,403		$	1,473		$	1,462		$	47		$	43
Core OID		22			21			20			19			18			1			4
Insurance revenue		(296	)		(279	)		(258	)		(293	)		(287	)		(17	)		(9	)
Adjusted net revenue for the Adjusted Efficiency Ratio	$	1,231		$	1,200		$	1,165		$	1,199		$	1,193		$	31		$	38
Adjusted Efficiency Ratio(1)		46.0%			47.7%			50.1%			46.4%			44.9%

(1) Adjusted efficiency ratio is anon-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Insurance segment expense and Rep and warrant expense. In the denominator, total net revenue is adjusted for Insurance segment revenue and Core OID. See page 11 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance business.

3Q 2018 Preliminary Results 24