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Contact Ally Investor Relations at (866) 710-4623 or investor.relations@ally.com Ally Financial Inc. January 21, 2026 4Q 2025 Earnings Review
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4Q 2025 Preliminary Results 2 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. In particular, forward-looking statements about Ally’s outlook, including expectations regarding net interest margin, adjusted other revenue, net-charge offs, non-interest expenses and average earning assets, and other forward-looking statements are based on our current expectations and are subject to various important factors that could cause actual results to differ materially, including general economic conditions, expectations regarding interest rates and inflation, monetary and fiscal policies in the United States and other jurisdictions, the composition of our balance sheet, including with respect to our loan and securities portfolios, the impact of our strategic initiatives, including recent initiatives involving our Credit Card and Mortgage operations, demand for new and used vehicles, demand for auto loans and leases and the impact of escalating tariffs and other trade policies on us, our customers and our strategic partners, and the economic impacts, volatility and uncertainty resulting therefrom. 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 above and in our Annual Report on Form 10-K for the year ended December 31, 2024, 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. This document also includes forward-looking non-GAAP financial measures, such as outlooks for Net Interest Margin (ex. OID), Adjusted Other Revenue and Adjusted Noninterest Expense. We are unable to provide a reconciliation of these forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the inherent difficulty in forecasting and quantifying the occurrence and financial impact of various items that have not yet occurred, are out of our control or cannot be reasonably predicted. Forward- looking non-GAAP financial measures may vary materially from the corresponding GAAP financial measures. 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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4Q 2025 Preliminary Results 3 ($ millions, except per share data) 4Q 25 3Q 25 2Q 25 1Q 25 4Q 24 GAAP net income (loss) attributable to common shareholders (NIAC) 300$ 371$ 324$ (253)$ 81$ Core net income attributable to common shareholders (1)(2) 341$ 363$ 309$ 179$ 246$ GAAP earnings per common share (EPS)(basic or diluted as applicable, NIAC) 0.95$ 1.18$ 1.04$ (0.82)$ 0.26$ Adjusted EPS (1)(2) 1.09$ 1.15$ 0.99$ 0.58$ 0.78$ Return on GAAP common shareholders' equity 9.2% 11.9% 10.7% -8.6% 2.7% Core ROTCE (1)(2) 11.1% 12.3% 11.0% 6.7% 9.3% GAAP common shareholders' equity per share 42.70$ 41.56$ 39.71$ 38.77$ 37.92$ Adjusted tangible book value per share (Adjusted TBVPS) (1)(2) 40.38$ 39.19$ 37.30$ 35.95$ 34.04$ Efficiency ratio 58.9% 57.2% 60.6% 106.0% 67.1% Adjusted efficiency ratio (1)(2) 50.8% 50.0% 50.9% 56.0% 52.8% GAAP total net revenue 2,123$ 2,168$ 2,082$ 1,541$ 2,026$ Adjusted total net revenue (1)(2) 2,165$ 2,157$ 2,064$ 2,065$ 2,088$ Effective tax rate 15.3% 22.4% 19.3% 20.8% 0.0% Quarterly Trend GAAP and Core Results: Quarterly (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 provision for credit losses, 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 Adjusted 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 Notes on Non-GAAP Financial Measures, Notes on Other Financial Measures, Additional Notes, GAAP to Core Results and Non-GAAP Reconciliations later in this document. (2) Non-GAAP financial measure. See pages 22 – 24 for definitions. Core ROTCE reflects an updated calculation methodology and has been restated for all periods presented. See pages 21, 24, and 30 – 31 for additional detail.
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4Q 2025 Preliminary Results 4 ($ millions, except per share data) 2025 2024 2023 2022 2021 GAAP net income (loss) attributable to common shareholders (NIAC) 742$ 558$ 847$ 1,604$ 3,003$ Core net income attributable to common shareholders (1)(2) 1,192$ 731$ 867$ 1,929$ 3,146$ GAAP earnings per common share (EPS)(basic or diluted as applicable, NIAC) 2.37$ 1.80$ 2.77$ 5.03$ 8.22$ Adjusted EPS (1)(2) 3.81$ 2.35$ 2.84$ 6.06$ 8.61$ Return on GAAP common shareholders' equity 6.0% 4.8% 7.8% 13.3% 20.2% Core ROTCE (1)(2) 10.4% 7.1% 9.2% 18.5% 23.1% GAAP common shareholders' equity per share 42.70$ 37.92$ 37.62$ 35.20$ 43.58$ Adjusted tangible book value per share (Adjusted TBVPS) (1)(2) 40.38$ 34.04$ 33.15$ 29.96$ 38.73$ Efficiency ratio 68.1% 63.3% 62.7% 55.6% 50.1% Adjusted efficiency ratio (1)(2) 51.9% 54.1% 53.8% 47.2% 43.7% GAAP total net revenue 7,914$ 8,181$ 8,234$ 8,428$ 8,206$ Adjusted total net revenue (1)(2) 8,451$ 8,243$ 8,175$ 8,685$ 8,381$ Effective tax rate 18.9% 20.0% 13.1% 26.8% 20.5% Annual Trend GAAP and Core Results: Annual (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 provision for credit losses, 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 Adjusted 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 Notes on Non-GAAP Financial Measures, Notes on Other Financial Measures, Additional Notes, GAAP to Core Results and Non-GAAP Reconciliations later in this document. (2) Non-GAAP financial measure. See pages 22 – 24 for definitions. Core ROTCE reflects an updated calculation methodology and has been restated for all periods presented. See pages 21, 24, and 30 – 31 for additional detail.
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5 4Q 2025 Preliminary Results Authorized a $2 billion open ended share repurchase program Providing capital flexibility through returns-driven allocation framework and signaling confidence in execution Disciplined risk management, supported by prudent underwriting and enhanced servicing Retail auto NCOs <2% and delinquency trends favorable vs 2024; zero commercial losses in 2024-2025 Full-Year Highlights $3.81 Adjusted EPS(1) 10.4% Core ROTCE(1) $8.5B Adjusted Net Revenue(1) 10.2% CET1 $1,628M Core Pre-tax(1) 6.0% Return on Equity $7.9B GAAP Net Revenue $2.37 GAAP EPS 3.47% NIM ex. OID(2) $1,051M GAAP Pre-tax (1) Non-GAAP financial measure. See pages 22 – 24 for definitions. (2) Calculated using a Non-GAAP financial measure. See pages 22 – 24 for definitions. ↑ 62% YoY ↑ 45% YoY ↑ 3% YoY ↑ 40bps YoY↑ 55% YoY 2025 Notable Items Completed the sale of Credit Card and ceased mortgage originations Added 40 bps to CET1 while reducing credit risk and enabled focus on the core Materially reduced interest rate risk and AOCI volatility Executed $4.1B of securities repositioning while continuing to migrate towards a more neutral rate risk position Bolstered capital position and maintained disciplined expense management Fully phased-in AOCI CET1 ↑120bps YoY (↑ earnings, CRT); OPEX flat YoY with controllable expenses ↓1% Solid asset growth in core franchises with highest returns Retail auto and Corporate Finance assets ↑ more than 5% vs 2024, reinforcing strategic focus on core businesses
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6 4Q 2025 Preliminary Results Largest, all-digital, direct U.S. bank Market Leading Franchises Retail Deposits Retail Deposit Balances | Primary Deposit Customers $78B $144B See page 26 for footnotes. 4Q’17 4Q’18 4Q’254Q‘19 4Q‘20 4Q‘21 4Q‘22 4Q‘23 4Q’24 1.4M 3.5M $55K $42KAverage Customer Balance Corporate Finance Return on Equity FY 22 FY 23 FY 24 FY 25 28% 29% 37% 28% Consumer Applications Written Premiums ($ millions) FY 22 FY 23 FY 24 FY 25 $1,103 $1,274 $1,472 $1,503 FY 22 FY 23 FY 24 FY 25 12.5M 13.8M 14.6M 15.5M All-time Record Dealer Financial Services 25-year Cycle Tested BusinessAuto Finance Insurance 100% % of Portfolio First-Lien 9% Gross Revenue Yield(2) 1% % Loans Non-Accrual 2.2 U.S. F&I Products Sold per Dealer 4.0M Active F&I and P&C Policies 7K U.S. & Canadian Dealer Relationships 15.5M Consumer Applications 8% HFI Asset Growth 3-Yr CAGR $43.7B Consumer Originations 43% Retail S-Tier Originations 9.7% Retail Auto Originated Yield(1) 19% YoY Avg. Dealer Inventory Growth Leaning into core franchises where underlying operational performance is strong All-time Record 87% % Deposit Funded 92% % FDIC Insured(3) $144B Retail Deposit Balances 17 Years Consecutive Customer Growth
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4Q 2025 Preliminary Results 7 ($ millions; except per share data) 4Q 25 3Q 25 4Q 24 FY 2025 FY 2024 Net financing revenue 1,598$ 1,584$ 1,509$ 6,176$ 6,014$ Core OID (1) 17 17 15 66 56 Net financing revenue (ex. Core OID) (1) 1,615 1,601 1,524 6,242 6,070 Other revenue 525$ 584$ 517$ 1,738$ 2,167$ Repositioning items (2) 27 - - 522 - Change in fair value of equity securities (2) (2) (27) 47 (51) 6 Adjusted other revenue (1) 550 557 564 2,209 2,173 Provision for credit losses 487$ 415$ 557$ 1,477$ 2,166$ Memo: Net charge-offs 452 395 543 1,720 2,034 Memo: Provision build / (release) 35 20 14 (243) 132 Repositioning items (2) (1) - - 305 - Adjusted provision for credit losses (1) 486 415 557 1,782 2,166 Noninterest expense 1,250$ 1,240$ 1,360$ 5,386$ 5,179$ Repositioning items (2) (31) - (140) (345) (150) Adjusted noninterest expense (1) 1,219 1,240 1,220 5,041 5,029 Pre-tax income (loss) 386$ 513$ 109$ 1,051$ 836$ Income tax expense / (benefit) 59 115 - 199 167 Net income (loss) from discontinued operations - - (1) - (1) Net income (loss) 327$ 398$ 108$ 852$ 668$ Preferred dividends 27 27 27 110 110 Net income (loss) attributable to common shareholders 300$ 371$ 81$ 742$ 558$ GAAP EPS (basic or diluted as applicable, NIAC) 0.95$ 1.18$ 0.26$ 2.37$ 1.80$ Core OID, net of tax (1) 0.04 0.04 0.04 0.17 0.14 Change in fair value of equity securities, net of tax (2) (0.00) (0.07) 0.12 (0.13) 0.01 Repositioning, discontinued ops., and other, net of tax (2) 0.15 - 0.37 1.46 0.40 Significant discrete tax items (0.06) - - (0.06) - Adjusted EPS (1) 1.09$ 1.15$ 0.78$ 3.81$ 2.35$ Consolidated Income Statement - Quarterly and Annual Results 4Q and Full-Year 2025 Financial Results (1) Non-GAAP financial measure. See pages 22 – 24 for definitions. (2) Contains Non-GAAP financial measures and other financial measures. See page 25 for definitions. 4Q’25 repositioning items related to mortgage asset transfer to HFS and restructuring charge (refer to applicable disclosures for detail on historical repositioning). ~$0.4B Mortgage asset transfer to HFS Restructuring charge ~$0.4B Mortgage asset transfer to HFS
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4Q 2025 Preliminary Results 8 Average Balance Yield Average Balance Yield Average Balance Yield Average Balance Yield Average Balance Yield Retail Auto Loans (ex. hedge) 84,865$ 9.27% 84,592$ 9.21% 83,554$ 9.09% 84,258$ 9.19% 83,652$ 8.90% Memo: Impact from hedges 0.05% 0.07% 0.18% 0.08% 0.30% Retail Auto Loans (inc. hedge) 84,865$ 9.32% 84,592$ 9.28% 83,554$ 9.27% 84,258$ 9.27% 83,652$ 9.20% Auto Leases (net of depreciation) 8,753 5.93% 8,255 6.70% 7,794 6.60% 8,223 6.30% 8,133 7.60% Commercial Auto 22,497 5.84% 21,119 6.19% 23,448 6.63% 21,537 6.11% 23,731 7.00% Corporate Finance 12,078 7.98% 11,085 8.59% 9,824 9.68% 11,141 8.45% 10,216 9.88% Mortgage(1) 16,070 3.13% 16,458 3.14% 17,438 3.17% 16,604 3.17% 18,058 3.22% Consumer Other - Ally Lending(2) - - - - - - - - 317 8.77% Consumer Other - Ally Credit Card(3) - - - - 2,220 21.48% 555 21.39% 2,081 21.71% Cash and Cash Equivalents(4) 8,983 3.89% 8,465 4.28% 8,721 4.52% 8,918 4.18% 7,895 4.89% Investment Securities & Other(5) 29,191 3.34% 28,756 3.47% 29,169 3.34% 28,835 3.39% 29,759 3.53% Earning Assets 182,437$ 6.87% 178,730$ 7.02% 182,168$ 7.22% 180,071$ 6.99% 183,842$ 7.34% Total Loans and Leases(5) 144,608 7.76% 141,815 7.89% 144,553 8.16% 142,630 7.88% 146,507 8.23% Deposits(6) 149,028$ 3.38% 147,660$ 3.50% 151,502$ 4.01% 148,935$ 3.56% 152,871$ 4.18% Unsecured Debt 10,594 7.42% 10,902 7.35% 10,339 7.40% 10,755 7.41% 10,402 7.26% Secured Debt 2,604 5.14% 1,780 5.41% 2,155 6.29% 2,068 5.38% 1,540 6.14% Other Borrowings(7) 5,845 4.21% 4,590 4.26% 4,699 3.88% 4,752 4.17% 6,164 3.79% Funding Sources 168,071$ 3.69% 164,932$ 3.80% 168,695$ 4.25% 166,510$ 3.85% 170,977$ 4.37% NIM (as reported) 3.48% 3.51% 3.30% 3.43% 3.27% Core OID(8) $679 10.16% 696$ 9.54% 744$ 7.98% $704 9.34% 765$ 7.37% NIM (ex. Core OID) (8) 3.51% 3.55% 3.33% 3.47% 3.30% 4Q 2025 3Q 2025 4Q 2024 FY 2025 FY 2024 Balance Sheet and Net Interest Margin See page 26 for footnotes. Confident in upper 3% NIM over time given structural balance sheet trends
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4Q 2025 Preliminary Results 9 7.1% 7.3% 7.6% 8.0% 8.3% 9.8% 9.5% 9.9% 10.1% 10.2% 11.3% 11.0% 11.4% 11.6% 11.7% 13.2% 12.8% 13.2% 13.4% 13.6% 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $23 $25 $26 $28 $30 $35 $36 $39 $30 $33 $34 $40 4Q 14 4Q 15 4Q 16 4Q 17 4Q 18 4Q 19 4Q 20 4Q 21 4Q 22 4Q 23 4Q 24 4Q 25 Capital Ratios and Risk-Weighted Assets Adjusted Tangible Book Value per Share(1) 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 25. (1) Contains a Non-GAAP financial measure. See pages 22 – 24 for definitions. Total Capital Ratio Tier 1 Ratio CET1 Ratio Fully Phased-in CET1 Capital End of Period Shares Outstanding 480M 482M 467M 437M 405M 374M 375M 338M 299M 302M 305M Adjusted TBV/Share(1) • 4Q‘25 CET1 ratio of 10.2% and TCE / TA ratio of 6.6%(1) − Fully phased-in AOCI CET1 of 8.3%, ↑ 120bps YoY • $4.8B of CET1 capital above FRB requirement of 7.1% (Regulatory Minimum + SCB) • Executed $5B retail auto credit risk transfer, generating 20bps of CET1 at time of issuance (2nd CRT of 2025) • Authorized $2B open ended share repurchase program − ‘Low and slow’ approach, focus remains on continued capital accretion towards 9% CET1 fully phased-in AOCI • Announced 1Q’26 common dividend of $0.30 per share 308M $153B $154B $151B $151B Risk Weighted Assets$153B
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10 4Q 2025 Preliminary Results $543 $507 $366 $395 $452 1.59% 1.50% 1.10% 1.18% 1.34% 2.34% 2.12% 1.75% 1.88% 2.14% 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 1.18% 1.02% 1.04% 1.03% 1.14% 4.39% 3.79% 3.91% 3.93% 4.24% 0.56% 0.49% 0.48% 0.50% 0.52% 5.46% 4.77% 4.88% 4.90% 5.25% 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $2.4 $3.2 $3.1 $3.2 $3.2 $3.2 3.34% 3.78% 3.75% 3.75% 3.75% 3.75% CECL Day 1 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $2.6 $3.7 $3.4 $3.4 $3.5 $3.5 2.03% 2.73% 2.55% 2.56% 2.57% 2.54% CECL Day 1 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 Net Charge-Offs (NCOs)(1) Retail Auto Delinquencies Consolidated NCO Rate 60+ DPD Delinquency Rate(1) 30+ DPD Delinquency Rate(1) Consolidated NCOs ($M) Asset Quality: Key Metrics 90+ DPD Delinquency Rate (3bps) YoY (9bps) YoY (42bps) YoY (31bps) YoY (15bps) YoY Note: Days Past Due is abbreviated as (“DPD”) 30+ DPD Delinquency Rate (All-in) (1) Includes accruing contracts only. +14bps YoY +11bps YoY (24bps) YoY (30bps) YoY (21bps) YoY Retail Auto NCO Rate Note: Coverage rate calculations exclude fair value adjustment for loans in hedge accounting relationships. Consolidated Coverage ($ billions) Retail Auto Coverage ($ billions) See page 25 for definition. Note: Excludes write-downs from mortgage loans transferred to HFS in 4Q 2025. +13bps YoY (15bps) YoY (6bps) YoY (36bps) YoY (20bps) YoY
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11 4Q 2025 Preliminary Results Key Financials ($ millions) 4Q 25 3Q 25 4Q 24 Net financing revenue 1,310$ (3)$ (34)$ Total other revenue 99 3 11 Total net revenue 1,409$ -$ (23)$ Provision for credit losses 478 68 (17) Noninterest expense (1) 559 (19) 19 Pre-tax income 372$ (49)$ (25)$ U.S. Auto earning assets (EOP) 117,488$ 2,096$ 2,786$ Key Statistics Remarketing gains (losses) ($ millions) (11)$ (12)$ (14)$ Average gain (loss) per vehicle (635)$ (688)$ (780)$ Off-lease vehicles terminated (# units) 16,525 (5,083) (6,776) Application volume (# thousands) 3,811 (182) 333 Increase / (Decrease) vs. 9.09% 9.11% 9.19% 9.21% 9.27% 9.63% 9.80% 9.82% 9.72% 9.62% 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $10.3 $10.2 $11.0 $11.7 $10.8 3.5M 3.8M 3.9M 4.0M 3.8M 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 49% 44% 42% 42% 42% Consumer Application & Origination Trend Auto Finance Applications Consumer Originations ($ billions) +6% YoY • Auto pre-tax income of $372 million • Retail portfolio yield ex. hedge of 9.27%, up 6bps QoQ – Originated yield of 9.6% remains accretive to portfolio yields, down QoQ driven by benchmark rates – Consumer originations of $10.8 billion, up 6% YoY driven by record 4Q app volume; 2025 represents FY app volume record • Provision expense of $478 million, down $17 million YoY reflects continued improvement in credit – Credit trends within the portfolio remain strong as vintage dynamics continue to drive improvement in losses – Overall consumer remains healthy; however, macro including labor market and used vehicle values remain watch items • Lease remarketing loss of $11M in 4Q reflects pressure from vehicle termination mix Retail Auto Yield Trend Estimated Originated Yield(2) Portfolio Yield ex. hedge S-Tier Origination Mix Retail Weighted Average FICO 720 714 710 708 706 9.27% 9.21% 9.27% 9.28% 9.32% Hedge Impact See page 26 for footnotes. +10% YoY
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12 4Q 2025 Preliminary Results Key Financials ($ millions) 4Q 25 3Q 25 4Q 24 Premiums, service revenue earned and other income 369$ 5$ (3)$ VSC losses 32 (2) (2) Weather losses 3 (19) 2 All other losses 76 (9) (5) Losses and loss adjustment expenses 111 (30) (5) Acquisition and underwriting expenses (2) 224 (9) (3) Total underwriting income/(loss) 34 44 5 Investment income and other 57 (32) 50 Pre-tax income (loss) 91$ 12$ 55$ Change in fair value of equity securities (3) (2) 26 (50) Core pre-tax income (loss)(1) 89$ 38$ 5$ Total assets (EOP) 9,931$ 83$ 606$ Key Statistics - Insurance Ratios 4Q 25 3Q 25 4Q 24 Loss ratio 30.0% 38.7% 31.3% Underwriting expense ratio 60.7% 63.9% 61.2% Combined ratio 90.7% 102.6% 92.5% Increase / (Decrease) vs. $34 $33 $35 $34 $32 $58 $91 $22 $3 $36 $31 $34 $43 $32 $21 $19 $18 $20 $20 $24 $20 $24 $22 $25 $116 $161 $203 $141 $111 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $261 $251 $268 $277 $257 $129 $134 $81 $108 $127 $390 $385 $349 $385 $384 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 (1) Non-GAAP financial measure. See pages 22 – 24 for definitions. See page 26 for additional footnotes. • Insurance pre-tax income of $91 million and core pre- tax income of $89 million(1) – $369 million of earned premiums, relatively flat YoY • Insurance losses of $111 million, down $5 million YoY – Loss ratio improvement as inflation stabilizes and used vehicle values trends normalize – Continue to monitor other macro factors including potential tariff-related impacts on vehicle part costs • Written premiums of $384 million, relatively flat YoY – New P&C inventory relationships and disciplined execution continues to support written premium growth and increased market share – Insurance complimentary product offering enhances dealer value proposition, positioning Ally as a preferred lender Insurance Insurance Losses ($ millions) Written Premiums ($ millions) P&C Premium F&I Premium Note: F&I: Finance and insurance products and other. P&C: Property and casualty insurance products. VSC Weather P&C non- weather GAP Other
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13 4Q 2025 Preliminary Results 45% 37% 33% 33% 26% 37% 48% 51% 46% 46% 18% 15% 16% 21% 28% $7.8B $10.1B $10.9B $9.6B $12.9B 4Q 21 4Q 22 4Q 23 4Q 24 4Q 25 Key Financials ($ millions) 4Q 25 3Q 25 4Q 24 Net financing revenue 111$ -$ (4)$ Other revenue 31 6 (2) Total net revenue 142 6 (6) Provision for credit losses 11 3 16 Noninterest expense (2) 33 - - Pre-tax income 98$ 3$ (22)$ Change in fair value of equity securities (3) (0) (0) (0) Core pre-tax income (1) 98$ 3$ (22)$ Total assets (EOP) 12,989 1,646$ 3,285$ Increase / (Decrease) vs. HFI Balances by Lending Vertical • Corporate Finance pre-tax income of $98 million – QoQ increase driven by higher syndication income and portfolio growth – YoY impacted by strong current period asset growth and the associated CECL reserve build; prior year also included higher amortized fee income given elevated paydown activity • Portfolio continues to deliver strong returns; 4Q ROE of 29% • Held-for-investment loans of $12.9 billion, up 15% QoQ – Well-diversified, high-quality, 100% first-lien, floating rate loans – Focus on responsible growth in a highly competitive marketplace • Disciplined credit and operational risk management – No new non-performing loans and no charge-offs in the quarter – Criticized assets and non-accrual loans of 10% and 1%, respectively (near historically low levels) Corporate Finance (1) Non-GAAP financial measure. See pages 22 – 24 for definitions. See page 26 for additional footnotes. Sponsor Finance Private Credit Finance Specialty Finance
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4Q 2025 Preliminary Results 14 2026 Financial Outlook (1) Non-GAAP financial measures. See pages 22 – 24 for definitions. (2) Assumes statutory U.S. Federal tax rate of 21%. Net Interest Margin (ex. OID)(1) Retail Auto NCO Average Earning Assets Adjusted Noninterest Expense(1) Adjusted Other Revenue(1) Consolidated NCO 2025 Actuals 3.47% 1.97% $180B $5,041M $2,209M 1.28% 2026 Guidance 3.60% - 3.70% 1.8% - 2.0% ↑ 2% - 4% ↑ 1% Flat - ↑ 5% YoY 1.2% - 1.4% Tax Rate(2) 19% 20% - 22%
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4Q 2025 Preliminary Results 15 CEO Perspectives Focused strategy driving meaningful progress and momentum More focused strategy clearly defined Sharpened focus on core franchises and capital prioritiesStrategy Strong foundation firmly in place Balance sheet, capital, and underwriting positioned to support sustainable returns Foundation Clear evidence of improved performance Momentum across earnings and operating results reflect disciplined executionExecution Resumption of capital return underscores conviction Share buybacks reinforce capital flexibility and confidence in return outlookConfidence Encouraged by progress, focused on path ahead Meaningful progress made, with further opportunity to drive shareholder valueOutlook
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Supplemental
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4Q 2025 Preliminary Results 17 ($ millions) 4Q 25 3Q 25 4Q 24 2025 2024 3Q 25 4Q 24 2024 Automotive Finance 372$ 421$ 397$ 1,640$ 1,816$ (49)$ (25)$ (176)$ Insurance 91 79 36 200 168 12 55 32 Dealer Financial Services 463$ 500$ 433$ 1,840$ 1,984$ (37)$ 30$ (144)$ Corporate Finance 98 95 120 365 434 3 (22) (69) Corporate and Other (175) (82) (444) (1,154) (1,582) (93) 269 428 Pre-tax income (loss) 386$ 513$ 109$ 1,051$ 836$ (127)$ 277$ 215$ Core OID (1) 17 17 15 66 56 1 2 9 Change in fair value of equity securities (2) (2) (27) 47 (51) 6 26 (48) (56) Repositioning and other (3) 59 - 140 562 150 59 (81) 412 Core Pre-tax income (1) 461$ 502$ 310$ 1,628$ 1,047$ (41)$ 151$ 581$ Insurance - GAAP to Core Walk GAAP Pre-tax income (loss) 91$ 79$ 36$ 200$ 168$ 12$ 55$ 32$ Core Adjustments (4) (2) (27) 48 (44) 3 26 (50) (47) Core Pre-tax income (loss) 89$ 52$ 84$ 156$ 171$ 38$ 5$ (15)$ Corporate Finance - GAAP to Core Walk GAAP Pre-tax income 98$ 95$ 120$ 365$ 434$ 3$ (22)$ (69)$ Core Adjustments (4) (0) 0 0 (0) (1) (0) (0) 0 Core Pre-tax income (loss) 98$ 95$ 120$ 365$ 433$ 3$ (22)$ (69)$ Corporate & Other - GAAP to Core Walk GAAP Pre-tax income (loss) (175)$ (82)$ (444)$ (1,154)$ (1,582)$ (93)$ 269$ 428$ Core Adjustments (4) 76 17 153 621 209 60 (77) 412 Core Pre-tax income (loss) (99)$ (65)$ (291)$ (533)$ (1,373)$ (33)$ 192$ 840$ Increase/(Decrease) vs. Results by Segment and GAAP to Core Pre-tax income Walk QUARTERLY TREND ANNUAL TREND Supplemental Results By Segment (1) Non-GAAP financial measure. See pages 22 – 24 for definitions. See page 27 for additional footnotes.
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4Q 2025 Preliminary Results 18 ($ millions) Key Financials 4Q 25 3Q 25 4Q 24 Net financing revenue 141$ 14$ 122$ Total other revenue 5 (38) (43) Total net revenue 146 (24) 79 Provision for credit losses (2) 1 (69) Noninterest expense 323 68 (121) Pre-tax income (loss) (175)$ (93)$ 269$ Core OID (1) 17 1 2 Repositioning items (2) 59 59 (81) Change in fair value of equity securities (3) - - 2 Core pre-tax income (loss) (1) (99)$ (33)$ 192$ Cash & securities 32,408$ 26$ (191)$ Held-for-investment loans, net (4) 15,797 (673) (3,578) Intercompany loan (5) (807) (111) 57 Other 9,931 1,293 1,291 Total assets 57,329$ 535$ (2,421)$ Increase/(Decrease) vs. Corporate & Other Results Retail CD Maturity Summary (as of 12/31/2025) • Corporate and Other includes the impacts of Ally Invest, Mortgage, and Credit Card in 4Q’24 – Credit Card sale closed on April 1, 2025 • Pre-tax loss of $175 million and Core pre-tax loss of $99 million(1) – Other revenue down YoY, largely driven by the sale of Credit Card – Provision expense down YoY, largely driven by the sale of Credit Card – Noninterest expense down YoY, largely driven by the sale of Credit Card and continued cost discipline • Total assets of $57.3 billion, down $2.4 billion YoY Supplemental Corporate and Other (1) Non-GAAP financial measure. See pages 22 – 24 for definitions. See page 27 for additional footnotes. $10B 4Q 2025 $10B 1Q 2026 $8B 2Q 2026 $7B 3Q 2026 Ally Financial Rating Details LT Debt ST Debt Outlook Fitch BBB- F3 Stable Moody's Baa3 P-3 Stable S&P BBB- A-3 Stable DBRS BBB R-2 (high) Stable Note: Ratings as of 12/31/2025. 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. $5B 4Q 2026 Maturity Weighted Average Rate 4.0% 4.0% 3.9% 3.9% 3.8%
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4Q 2025 Preliminary Results 19 89% 89% 88% 88% 87% 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $19.9 $20.3 $19.2 $19.9 $20.3 $26.7 $26.9 $26.9 $26.9 $26.9 $12.2 $11.3 $10.7 $10.3 $9.1 $9.6 $9.5 $10.0 $9.5 $9.7 $68.5 $68.0 $66.8 $66.6 $66.1 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 Funding Composition Funding and Liquidity Total Available Liquidity Available Liquidity vs. Uninsured Deposits 5.9x 5.7x Loan to Deposit Ratio(1) 95% 95% 96% Cash and Cash Equivalents FHLB Unused Pledged Borrowing Capacity FRB Discount Window Pledged Capacity Unencumbered Highly Liquid Securities Secured Debt Unsecured Debt FHLB / Other Total Deposits ($ billions) 5.9x (1) Total loans and leases divided by total deposits. 97% 5.8x (End of Period) 97% 5.6x Supplemental Core funded with stable deposits and strong liquidity position
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4Q 2025 Preliminary Results 20 Supplemental Interest Rate Risk Note: Pay-Fixed rates are expressed as day and balance-weighted averages. Net Financing Revenue Sensitivity Analysis(1) ($ millions) (1) Net financing revenue impacts reflect a rolling 12-month view. See page 25 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 4Q 25 1Q 26 2Q 26 3Q 26 4Q 26 1Q 27 2Q 27 3Q 27 4Q 27 Effective Hedge Average Notional Outstanding $9B $10B $10B $8B $7B $6B $3B - - Average Pay Fixed Rates 3.6% 3.5% 3.5% 3.5% 3.4% 3.4% 3.3% - - Fair Value Hedging on Fixed-Rate Investment Securities 4Q 25 1Q 26 2Q 26 3Q 26 4Q 26 1Q 27 2Q 27 3Q 27 4Q 27 Effective Hedge Average Notional Outstanding $10B $10B $12B $12B $12B $11B $11B $10B $10B Average Pay-Fixed Rates 3.7% 3.7% 3.6% 3.6% 3.6% 3.6% 3.6% 3.6% 3.6% Gradual (2) Instantaneous Gradual (2) Instantaneous -100 bp (20)$ 22$ (13)$ 24$ +100 bp 9$ (106)$ 3$ (121)$ 4Q 25 3Q 25
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4Q 2025 Preliminary Results 21 Supplemental Core RoTCE Methodology Change Simplified methodology aligns to tangible book value; no change to earnings outlook Core NIAC Numerator ($ millions) Denominator (Avg, $ billions) Adjusted Tangible Common Equity Core ROTCE 4Q’25 FY’25 $341 $1,192 New Methodology Aims to provide consistency between adjusted TBV/Share (numerator) and Core RoTCE (denominator) Core NIAC (-) Goodwill and intangibles, net of DTLs (-) Goodwill and intangibles, net of DTLs (-) Tax-effected Core OID Balance (Assumes 21% tax rate) (-) Pre-tax Core OID Balance Denominator (Avg, $ billions) Normalized Common Equity Core ROTCE GAAP Equity $15.3 $14.7 GAAP Equity (-) Preferred Equity 2.3 2.3 (-) Preferred Equity GAAP Common Equity $13.0 $12.3 GAAP Common Equity Old Methodology Disconnected from adjusted TBV/Share (numerator) and disjointed from how we manage the business (-) DTANo DTA adjustment 0.2 0.3 0.5 0.6 $12.3 $11.5 Numerator ($ millions) 4Q’25 FY’25 $341 $1,192 $15.3 $14.7 2.3 2.3 $13.0 $12.3 0.2 0.3 0.7 0.7 2.2 2.1 $9.9 $9.3 11.1% 10.4% 13.8% 12.9%
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4Q 2025 Preliminary Results 22 Supplemental 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 pages 28 – 29 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 pages 34 – 35 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, Insurance segment revenue, 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. See page 12 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 to better understand the business' expenses excluding nonrecurring items. See pages 36 – 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 pages 36 – 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 pages 36 – 37 for calculation methodology and details. 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 provision for Credit Losses, 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 Adjusted 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. Notes on Non-GAAP Financial Measures
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4Q 2025 Preliminary Results 23 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 pages 32 – 33 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 36 – 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 one-time items, 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 28 – 31 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 pages 36 – 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 pages 36 – 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 17 for calculation methodology and details. Supplemental Notes on Non-GAAP Financial Measures
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4Q 2025 Preliminary Results 24 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 tax- effected Core OID balance. 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 pages 30 – 31 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 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, and tax-effected Core OID balance. 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 36 – 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 8 for calculation methodology and details. 17) Adjusted 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. See pages 30 – 31 for calculation methodology and details. Supplemental Notes on Non-GAAP Financial Measures
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4Q 2025 Preliminary Results 25 Supplemental 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 phased in the regulatory capital impacts of CECL from January 1, 2022, to January 1, 2025, based on this 5-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 New Retail – standard and subvented rate new vehicle loans; Lease – new vehicle lease originations; Used – used vehicle loans Nonprime – originations with a FICO® score of less than 620 Notes on Other Financial Measures
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4Q 2025 Preliminary Results 26 Supplemental Page – 11 | Auto Finance Page – 12 | Insurance (1) Noninterest expense includes corporate allocations of $193 million in 4Q 2025, $197 million in 3Q 2025, and $179 million in 4Q 2024. (2) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 25 for details. Additional Notes Page – 6 | Market Leading Franchises (2) Acquisition and underwriting expenses includes corporate allocations of $21 million in 4Q 2025, $24 million in 3Q 2025, and $21 million in 4Q 2024. (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. (1) Estimated Retail Auto Originated Yield is a forward-looking financial measure. See page 25 for details. (2) Gross Revenue Yield expressed as gross interest income plus other revenue divided by average earning assets. (3) FDIC insured percentage excludes affiliate and intercompany deposits. Page – 13 | Corporate Finance (2) Noninterest expense includes corporate allocations of $11 million in 4Q 2025, $11 million in 3Q 2025, and $10 million in 4Q 2024. (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. Page – 8 | Balance Sheet and Net Interest Margin (1) Mortgage loans 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 (HFS) on 12/31/23; sale of Ally Lending closed 3/1/24. (3) Credit card assets moved to assets of operations held-for-sale (HFS) on 3/31/25; sale of Credit Card closed 4/1/25. (4) Includes interest expense related to margin received on derivative contracts. Excluding this expense, annualized yields were 3.88% for 4Q’25, 4.28% for 3Q’25, and 4.68% for 4Q’24. Annualized yields excluding this expense for FY2025 and FY2024 were 4.21% and 5.15%, respectively. (5) Includes Community Reinvestment Act and other held-for-sale (HFS) loans. (6) Includes retail, brokered, and other deposits (inclusive of sweep deposits, mortgage escrow, and other deposits). (7) Includes FHLB borrowings and Repurchase Agreements. (8) Calculated using a Non-GAAP financial measure. See pages 22 – 24 for definitions.
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4Q 2025 Preliminary Results 27 Supplemental Page – 18 | Corporate and Other (2) Repositioning and other 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 consumer mortgage portfolio in all periods and Ally credit card portfolio in 4Q 2024. (5) Intercompany loan related to activity between Insurance and Corporate. Additional Notes (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 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 – 17 | Results by Segment
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4Q 2025 Preliminary Results 28 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Numerator ($ millions) GAAP net income (loss) attributable to common shareholders 742$ 558$ 847$ 1,604$ 3,003$ Discontinued operations, net of tax - 1 2 1 5 Core OID 66 56 48 42 38 Repositioning Items 562 150 201 77 228 Change in fair value of equity securities (51) 6 (107) 215 7 Tax-effected Core OID, Repo & changes in fair value of equity securities (assumes 21% tax rate) (109) (40) (30) (70) (57) Significant discrete tax items (18) - (94) 61 (78) Core net income attributable to common shareholders [a] 1,192$ 731$ 867$ 1,929$ 3,146$ Denominator Weighted-average common shares outstanding - (basic or diluted as applicable, thousands) [b] 313,043 310,160 305,135 318,629 365,180 Metric GAAP EPS 2.37$ 1.80$ 2.77$ 5.03$ 8.22$ Discontinued operations, net of tax - 0.00 0.01 0.00 0.01 Core OID 0.21 0.18 0.16 0.13 0.10 Change in fair value of equity securities (0.16) 0.02 (0.35) 0.67 0.02 Repositioning Items 1.80 0.48 0.66 0.24 0.62 Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (0.35) (0.13) (0.10) (0.22) (0.16) Significant discrete tax items (0.06) - (0.31) 0.19 (0.21) Adjusted EPS 3.81$ 2.35$ 2.84$ 6.06$ 8.61$ Adjusted Earnings per Share ("Adjusted EPS") ANNUAL TREND [a] / [b] Supplemental GAAP to Core: Adjusted EPS (Annual)
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4Q 2025 Preliminary Results 29 4Q 25 3Q 25 2Q 25 1Q 25 4Q 24 Numerator ($ millions) GAAP net income (loss) attributable to common shareholders 300$ 371$ 324$ (253)$ 81$ Discontinued operations, net of tax - - - - 1 Core OID 17 17 16 16 15 Repositioning Items 59 - - 503 140 Change in fair value of equity securities (2) (27) (35) 13 47 Tax-effected Core OID, Repo & changes in fair value of equity securities (assumes 21% tax rate) (16) 2 4 (99) (38) Significant discrete tax items (18) - - - - Core net income attributable to common shareholders [a] 341$ 363$ 309$ 179$ 246$ Denominator Weighted-average common shares outstanding - (basic or diluted as applicable, thousands) [b] 314,264 313,823 312,434 309,006 311,277 Metric GAAP EPS 0.95$ 1.18$ 1.04$ (0.82)$ 0.26$ Discontinued operations, net of tax - - - - 0.00 Core OID 0.06 0.05 0.05 0.05 0.05 Change in fair value of equity securities (0.00) (0.09) (0.11) 0.04 0.15 Repositioning Items 0.19 - - 1.63 0.45 Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (0.05) 0.01 0.01 (0.32) (0.12) Significant discrete tax items (0.06) - - - - Adjusted EPS 1.09$ 1.15$ 0.99$ 0.58$ 0.78$ Adjusted Earnings per Share ("Adjusted EPS") QUARTERLY TREND [a] / [b] Supplemental GAAP to Core: Adjusted EPS (Quarterly)
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4Q 2025 Preliminary Results 30 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Numerator ($ millions) GAAP net income (loss) attributable to common shareholders 742$ 558$ 847$ 1,604$ 3,003$ Discontinued operations, net of tax - 1 2 1 5 Core OID 66 56 48 42 38 Repositioning Items 562 150 201 77 228 Change in fair value of equity securities (51) 6 (107) 215 7 Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (109) (40) (30) (70) (57) Significant discrete tax items & other (18) - (94) 61 (78) Core net income attributable to common shareholders [a] 1,192$ 731$ 867$ 1,929$ 3,146$ Denominator (Average, $ billions) GAAP shareholder's equity 14.7$ 13.9$ 13.2$ 14.3$ 16.2$ less: Preferred equity (2.3) (2.3) (2.3) (2.3) (1.4) GAAP common shareholder's equity 12.3$ 11.5$ 10.9$ 12.0$ 14.8$ Goodwill & identifiable intangibles, net of deferred tax liabilities ("DTLs") (0.3) (0.7) (0.9) (0.9) (0.5) Tangible common equity 12.0$ 10.8$ 10.1$ 11.1$ 14.4$ Tax-effected Core OID balance (assumes 21% tax rate) per share (0.6) (0.6) (0.6) (0.7) (0.8) Adjusted Tangible Common Equity [b] 11.5$ 10.2$ 9.4$ 10.4$ 13.6$ Core Return on Tangible Common Equity 10.4% 7.1% 9.2% 18.5% 23.1% Memo: Prior Core RoTCE Methodology Normalized Common Equity (Average, $ billions) 9.3$ 8.6$ 8.0$ 9.4$ 12.9$ Core Return on Tangible Common Equity 12.9% 8.5% 10.8% 20.5% 24.3% Core Return on Tangible Common Equity ("Core ROTCE") ANNUAL TREND [a] / [b] Supplemental GAAP to Core: Core ROTCE (Annual)
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4Q 2025 Preliminary Results 31 4Q 25 3Q 25 2Q 25 1Q 25 4Q 24 Numerator ($ millions) GAAP net income (loss) attributable to common shareholders 300$ 371$ 324$ (253)$ 81$ Discontinued operations, net of tax - - - - 1 Core OID 17 17 16 16 15 Repositioning Items 59 - - 503 140 Change in fair value of equity securities (2) (27) (35) 13 47 Tax on Core OID, Repo & change in fair value of equity securities (assumes 21% tax rate) (16) 2 4 (99) (38) Significant discrete tax items & other (18) - - - - Core net income attributable to common shareholders [a] 341$ 363$ 309$ 179$ 246$ Denominator (Average, $ billions) GAAP shareholder's equity 15.3$ 14.8$ 14.4$ 14.1$ 14.2$ less: Preferred equity (2.3) (2.3) (2.3) (2.3) (2.3) GAAP common shareholder's equity 13.0$ 12.5$ 12.1$ 11.7$ 11.8$ Goodwill & identifiable intangibles, net of deferred tax liabilities ("DTLs") (0.2) (0.2) (0.2) (0.4) (0.7) Tangible common equity 12.8$ 12.3$ 11.8$ 11.3$ 11.2$ Tax-effected Core OID balance (assumes 21% tax rate) per share (0.5) (0.6) (0.6) (0.6) (0.6) Adjusted Tangible Common Equity [b] 12.3$ 11.8$ 11.3$ 10.7$ 10.6$ Core Return on Tangible Common Equity 11.1% 12.3% 11.0% 6.7% 9.3% Memo: Prior Core RoTCE Methodology Normalized Common Equity (Average, $ billions) 9.9$ 9.5$ 9.1$ 8.6$ 8.7$ Core Return on Tangible Common Equity 13.8% 15.3% 13.6% 8.3% 11.3% Core Return on Tangible Common Equity ("Core ROTCE") [a] / [b] QUARTERLY TREND Supplemental GAAP to Core: Core ROTCE (Quarterly)
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4Q 2025 Preliminary Results 32 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Numerator ($ billions) GAAP shareholder's equity 15.5$ 13.9$ 13.7$ 12.9$ 17.1$ less: Preferred equity (2.3) (2.3) (2.3) (2.3) (2.3) GAAP common shareholder's equity 13.2$ 11.6$ 11.4$ 10.5$ 14.7$ Goodwill and identifiable intangibles, net of DTLs (0.2) (0.6) (0.7) (0.9) (0.9) Tangible common equity 13.0 11.0 10.7 9.6 13.8 Tax-effected Core OID balance (assumes 21% tax rate) (0.5) (0.6) (0.6) (0.7) (0.7) Adjusted tangible book value [a] 12.5$ 10.4$ 10.0$ 9.0$ 13.1$ Denominator Issued shares outstanding (period-end, thousands) [b] 308,493 305,388 302,459 299,324 337,941 Metric GAAP shareholder's equity per share 50.2$ 45.5$ 45.3$ 43.0$ 50.5$ less: Preferred equity per share (7.5) (7.6) (7.7) (7.8) (6.9) GAAP common shareholder's equity per share 42.7$ 37.9$ 37.6$ 35.2$ 43.6$ Goodwill and identifiable intangibles, net of DTLs per share (0.6) (2.0) (2.4) (3.0) (2.8) Tangible common equity per share 42.1 35.9 35.2 32.2 40.8 Tax-effected Core OID balance (assumes 21% tax rate) per share (1.7) (1.9) (2.1) (2.2) (2.1) Adjusted tangible book value per share 40.4$ 34.0$ 33.1$ 30.0$ 38.7$ [a] / [b] Adjusted Tangible Book Value per Share ("Adjusted TBVPS") ANNUAL TREND Supplemental GAAP to Core: Adjusted TBVPS (Annual)
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4Q 2025 Preliminary Results 33 4Q 25 3Q 25 2Q 25 1Q 25 4Q 24 Numerator ($ billions) GAAP shareholder's equity 15.5$ 15.1$ 14.5$ 14.2$ 13.9$ less: Preferred equity (2.3) (2.3) (2.3) (2.3) (2.3) GAAP common shareholder's equity 13.2$ 12.8$ 12.2$ 11.9$ 11.6$ Goodwill and identifiable intangibles, net of DTLs (0.2) (0.2) (0.2) (0.3) (0.6) Tangible common equity 13.0 12.6 12.0 11.6 11.0 Tax-effected Core OID balance (assumes 21% tax rate) (0.5) (0.5) (0.6) (0.6) (0.6) Adjusted tangible book value [a] 12.5$ 12.1$ 11.5$ 11.0$ 10.4$ Denominator Issued shares outstanding (period-end, thousands) [b] 308,493 307,828 307,787 307,152 305,388 Metric GAAP shareholder's equity per share 50.2$ 49.1$ 47.3$ 46.3$ 45.5$ less: Preferred equity per share (7.5) (7.5) (7.6) (7.6) (7.6) GAAP common shareholder's equity per share 42.7$ 41.6$ 39.7$ 38.8$ 37.9$ Goodwill and identifiable intangibles, net of DTLs per share (0.6) (0.6) (0.6) (1.0) (2.0) Tangible common equity per share 42.1 41.0 39.1 37.8 35.9 Tax-effected Core OID balance (assumes 21% tax rate) per share (1.7) (1.8) (1.8) (1.9) (1.9) Adjusted tangible book value per share 40.4$ 39.2$ 37.3$ 36.0$ 34.0$ [a] / [b] Adjusted Tangible Book Value per Share ("Adjusted TBVPS") QUARTERLY TREND Supplemental GAAP to Core: Adjusted TBVPS (Quarterly)
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4Q 2025 Preliminary Results 34 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Numerator ($ millions) GAAP noninterest expense 5,386$ 5,179$ 5,163$ 4,687$ 4,110$ Insurance expense (1,525) (1,453) (1,316) (1,133) (1,061) Repositioning items (345) (150) (217) (77) - Adjusted noninterest expense for efficiency ratio [a] 3,516$ 3,576$ 3,630$ 3,477$ 3,049$ Denominator ($ millions) Total net revenue 7,914$ 8,181$ 8,234$ 8,428$ 8,206$ Core OID 66 56 48 42 38 Repositioning items 522 - - - 131 Insurance revenue (1,725) (1,621) (1,532) (1,107) (1,404) Adjusted net revenue for the efficiency ratio [b] 6,777$ 6,616$ 6,750$ 7,363$ 6,970$ Adjusted Efficiency Ratio 51.9% 54.1% 53.8% 47.2% 43.7%[a] / [b] Adjusted Efficiency Ratio ANNUAL TREND Supplemental GAAP to Core: Adjusted Efficiency Ratio (Annual)
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4Q 2025 Preliminary Results 35 4Q 25 3Q 25 2Q 25 1Q 25 4Q 24 Numerator ($ millions) GAAP noninterest expense 1,250$ 1,240$ 1,262$ 1,634$ 1,360$ Insurance expense (335) (374) (424) (392) (343) Repositioning items (31) - - (314) (140) Adjusted noninterest expense for efficiency ratio [a] 884$ 866$ 838$ 928$ 877$ Denominator ($ millions) Total net revenue 2,123$ 2,168$ 2,082$ 1,541$ 2,026$ Core OID 17 17 16 16 15 Repositioning items 27 - - 495 - Insurance revenue (426) (453) (452) (394) (379) Adjusted net revenue for the efficiency ratio [b] 1,741$ 1,732$ 1,646$ 1,658$ 1,662$ Adjusted Efficiency Ratio 50.8% 50.0% 50.9% 56.0% 52.8% Adjusted Efficiency Ratio [a] / [b] QUARTERLY TREND Supplemental GAAP to Core: Adjusted Efficiency Ratio (Quarterly)
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4Q 2025 Preliminary Results 36 Net Financing Revenue (ex. Core OID) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 GAAP Net Financing Revenue 6,176$ 6,014$ 6,221$ 6,850$ 6,167$ Core OID 66 56 48 42 38 Net Financing Revenue (ex. Core OID) [a] 6,242$ 6,070$ 6,269$ 6,892$ 6,205$ Adjusted Other Revenue GAAP Other Revenue 1,738$ 2,167$ 2,013$ 1,578$ 2,039$ Accelerated OID & repositioning items 522 - - - 131 Change in fair value of equity securities (51) 6 (107) 215 7 Adjusted Other Revenue [b] 2,209$ 2,173$ 1,906$ 1,793$ 2,177$ Adjusted Total Net Revenue Adjusted Total Net Revenue 8,451$ 8,243$ 8,175$ 8,685$ 8,381$ Adjusted Provision for Credit Losses GAAP Provision for Credit Losses 1,477$ 2,166$ 1,968$ 1,399$ 241$ Repositioning 305 - 16 - (97) Adjusted Provision for Credit Losses 1,782$ 2,166$ 1,984$ 1,399$ 144$ Adjusted Noninterest Expense GAAP Noninterest Expense 5,386$ 5,179$ 5,163$ 4,687$ 4,110$ Repositioning (345) (150) (217) (77) - Adjusted Noninterest Expense 5,041$ 5,029$ 4,946$ 4,610$ 4,110$ Original issue discount amortization expense GAAP original issue discount amortization expense 74$ 68$ 61$ 53$ 49$ Other OID (8) (12) (13) (11) (11) Core original issue discount (Core OID) amortization expense 66$ 56$ 48$ 42$ 38$ Outstanding original issue discount balance GAAP outstanding original issue discount balance (689)$ (763)$ (831)$ (882)$ (923)$ Other outstanding OID balance 18 27 39 40 40 Core outstanding original issue discount balance (Core OID balance) (671)$ (736)$ (793)$ (841)$ (883)$ ANNUAL TREND [a]+[b] Supplemental 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. Non-GAAP Reconciliations (Annual) ($ millions)
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4Q 2025 Preliminary Results 37 Net Financing Revenue (ex. Core OID) 4Q 25 3Q 25 2Q 25 1Q 25 4Q 24 GAAP Net Financing Revenue 1,598$ 1,584$ 1,516$ 1,478$ 1,509$ Core OID 17 17 16 16 15 Net Financing Revenue (ex. Core OID) [a] 1,615$ 1,601$ 1,532$ 1,494$ 1,524$ Adjusted Other Revenue GAAP Other Revenue 525$ 584$ 566$ 63$ 517$ Accelerated OID & repositioning items 27 - - 495 - Change in fair value of equity securities (2) (27) (35) 13 47 Adjusted Other Revenue [b] 550$ 557$ 531$ 571$ 564$ Adjusted Total Net Revenue Adjusted Total Net Revenue 2,165$ 2,157$ 2,064$ 2,065$ 2,088$ Adjusted Provision for Credit Losses GAAP Provision for Credit Losses 487$ 415$ 384$ 191$ 557$ Repositioning (1) - - 306 - Adjusted Provision for Credit Losses 486$ 415$ 384$ 497$ 557$ Adjusted Noninterest Expense GAAP Noninterest Expense 1,250$ 1,240$ 1,262$ 1,634$ 1,360$ Repositioning (31) - - (314) (140) Adjusted Noninterest Expense 1,219$ 1,240$ 1,262$ 1,320$ 1,220$ Original issue discount amortization expense GAAP original issue discount amortization expense 19$ 19$ 18$ 18$ 17$ Other OID (2) (2) (2) (3) (3) Core original issue discount (Core OID) amortization expense 17$ 17$ 16$ 16$ 15$ Outstanding original issue discount balance GAAP outstanding original issue discount balance (689)$ (708)$ (727)$ (745)$ (763)$ Other outstanding OID balance 18 20 22 24 27 Core outstanding original issue discount balance (Core OID balance) (671)$ (688)$ (705)$ (721)$ (736)$ QUARTERLY TREND [a]+[b] Supplemental 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. Non-GAAP Reconciliations (Quarterly) ($ millions)