Earnings release
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Second Quarter 2026 Results and Key Metrics STAMFORD, Conn - Synchrony Financial (NYSE: SYF) today announced second quarter 2026 net earnings of $885 million, or $2.59 per diluted share, compared to $967 million, or $2.50 per diluted share in the second quarter 2025. CEO Commentary “Synchrony's second quarter performance reflected clear momentum across our core business drivers,” said Brian Doubles, Synchrony’s President and Chief Executive Officer. “Customer engagement remained strong as new accounts continued to grow, average active accounts inflected back to growth, and higher spend per account across each of our five sales platforms drove all-time high purchase volume for our business.” “Within our portfolio, spend was particularly strong for our value-oriented partners and for those with broad, diversified offerings. Meanwhile, out-of-partner discretionary spend on our consumer co-branded products grew by double-digits, which was in line with non-discretionary growth despite the impact of elevated fuel prices and driven by categories like entertainment, retail and electronics.” “These results are a testament to the enduring demand for the products and services we finance and the strength of our differentiated business model. Looking ahead, we will maintain our credit discipline, execute across our strategic initiatives and continue investing in our long-term growth opportunities. This will further enhance Synchrony’s ability to deliver everyday value and utility for millions of consumers, while driving loyalty and sales for hundreds of thousands of small and mid-sized businesses and providers nationwide.” 2.9% 13.2% $950M $102.2B Return on Assets CET1 Ratio Capital Returned Loan Receivables Key Operating and Financial Metrics* • Purchase volume increased 8% to $49.8 billion • Loan receivables increased 2% to $102.2 billion • Average active accounts were flat at 68.3 million • Net interest margin increased 30 basis points to 15.08% • Efficiency ratio increased 170 basis points to 35.8% • Return on assets decreased 30 basis points to 2.9% • Return on equity decreased 170 basis points to 21.4% • Return on tangible common equity** decreased 150 basis points to 25.2% • Book value per share increased 10% to $46.67 • Tangible book value per share** increased 8% to $42.01 For Immediate Release Synchrony Financial (NYSE: SYF) July 21, 2026
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CFO Commentary “Synchrony delivered strong second quarter results, highlighted by record purchase volume, accelerated growth in ending loan receivables despite elevated payment behavior, and continued strength in credit,” said Brian Wenzel, Synchrony’s Executive Vice President and Chief Financial Officer. “Our consistent credit discipline drove lower delinquency and Net charge-offs below our target range. While this prudent posture contributed to moderation in interest and fees, our continued reduction of funding costs supported solid Net interest income growth, and the improvement in program performance was shared through the RSA.” “We are confident in our path forward as we execute on our strategic imperatives. We remain focused on enhancing our resilient foundation and generating strong profitability to drive intrinsic value over both the short- and long-term, while also returning significant capital to shareholders.” Business Highlights • Added or renewed more than 15 partners in the quarter, including Suzuki Motor, Amerivet and Roto-Rooter. • Renewed relationship with Suzuki Motor, building on our 17-year partnership delivering secured installment financing solutions. • Extended partnership with AmeriVet, positioning CareCredit as their exclusive financing partner supported by a seamless, single-application waterfall solution. • Renewed our multi-year agreement with Roto-Rooter Plumbing & Water Cleanup. • Completed the acquisition of, and launched, the MyLowe's Pro Rewards American Express® Card, extending Pro purchasing power and rewards earning potential beyond Lowe's. • Refreshed the DICK’S Sporting Goods credit card program, featuring a new everyday 10% back in rewards on qualifying DICK'S purchases. Financial Highlights • Interest and fees on loans increased $52 million, or 1% to $5.4 billion, primarily driven by growth in average loan receivables. • Net interest income increased $87 million, or 2%, to $4.6 billion, primarily driven by lower interest-bearing liabilities cost associated with lower benchmark rates, partially offset by lower liquidity portfolio and loan receivables yields. • Retailer share arrangements increased $35 million, or 4%, to $1.0 billion, reflecting program performance and higher purchase volume. • Provision for credit losses increased $55 million, or 5%, to $1.2 billion, primarily driven by a reserve release of $163 million versus a $265 million release in the prior year, partially offset by lower net charge-offs of $47 million. • Other income increased $19 million, or 16%, to $137 million, partially driven by a $30 million Visa B-2 share exchange gain partially offset by higher loyalty costs. • Other expense increased $86 million, or 7%, to $1.3 billion, primarily driven by higher operational losses and costs related to technology investments. • Net earnings decreased $82 million, or 8%, to $885 million.
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Credit Quality • Loans 30+ days past due as a percentage of total period-end loan receivables were 4.16% compared to 4.18% in the prior year, a decrease of 2 basis points. • Loans 90+ days past due as a percentage of total period-end loan receivables were 2.01% compared to 2.06% in the prior year, a decrease of 5 basis points. • Net charge-offs as a percentage of total average loan receivables were 5.43% compared to 5.70% in the prior year, a decrease of 27 basis points. • The allowance for credit losses as a percentage of total period-end loan receivables was 10.09%, compared to 10.42% in the first quarter of 2026 and 10.59% in the second quarter of 2025. Sales Platform Highlights • Period-end loan receivables were up 6% in Diversified & Value, up 4% in Digital, up 1% in Health & Wellness, flat in Home & Auto, and down 1% in Lifestyle. These results reflected improving purchase volume trends in the second quarter as compared to previous quarters, partially offset by the effects of higher payment rates. Growth of interest and fees on loans ranged from down 2% to up 3%, as growth in average loan receivables was partially offset by lower benchmark rates. • Home & Auto purchase volume increased 6%, reflecting the performance of new programs. • Digital purchase volume increased 9%, primarily reflecting strong performance across partners with broad diversified offerings and highly engaged customer bases. • Diversified & Value purchase volume increased 12%, primarily reflecting the impact of partner expansion and higher gas sales. • Health & Wellness purchase volume increased 2%, primarily reflecting growth in Pet, partially offset by lower spend in Cosmetic. • Lifestyle purchase volume increased 6%, primarily reflecting the performance of new programs and higher spend in Other Apparel and Goods and Luxury, partially offset by lower spend in Outdoors.
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Balance Sheet, Liquidity, & Capital • Loan receivables of $102.2 billion increased 2% ; purchase volume increased 8% and average active accounts were flat. • Deposits increased 1% or $0.5 billion to $82.8 billion and comprised 83% of funding. • Total liquid assets were $19.8 billion, or 16.2% of total assets. • The Company issued $500 million of preferred stock with a final dividend of 7.25%, reflecting a 100 basis point improvement from our previous resettable preferred deal that was priced in February 2024. • The Company returned $950 million in capital to shareholders, including $850 million of share repurchases and $100 million of common stock dividends. As of June 30, 2026, the Company had a total remaining repurchase authorization of $5.7 billion. • The estimated Common Equity Tier 1 ratio was 13.2% compared to 14.2%***, and the estimated Tier 1 Capital ratio was 14.9% compared to 15.4%*** in the prior year. * All comparisons are for the second quarter of 2026 compared to the second quarter of 2025, unless otherwise noted. ** Return on tangible common equity represents net earnings available to common stockholders as a percentage of average tangible common equity. Tangible common equity and tangible book value per share are non-GAAP measures. See non-GAAP reconciliation in the financial supplement. Prior period amounts have been recast. See *** for additional information. *** Amounts prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See the financial supplement for additional information. Corresponding Financial Tables and Information Investors should review the foregoing summary and discussion of Synchrony Financial's earnings and financial condition in conjunction with the financial results presentation, financial supplement and information that follow, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed February 6, 2026, and the Company’s forthcoming Quarterly Report for the Form 10-Q for the fiscal quarter ended June 30, 2026. The detailed financial tables and other information are also available on the Investor Relations page of the Company’s website at www.investors.synchrony.com. This information is also furnished in a Current Report on Form 8-K filed with the SEC today. Conference Call and Webcast On Tuesday, July 21, 2026, at 8:00 a.m. Eastern Time, Brian Doubles, President and Chief Executive Officer, and Brian Wenzel Sr., Executive Vice President and Chief Financial Officer, will host a conference call to review the financial results and outlook for certain business drivers. The conference call can be accessed via an audio webcast through the Investor Relations page on the Synchrony Financial corporate website, www.investors.synchrony.com, under Events and Presentations. A replay will also be available on the website.
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About Synchrony Financial Synchrony (NYSE: SYF) is a leading consumer financing company that has been at the heart of American commerce and opportunity for nearly a century. Synchrony delivers credit and banking products that empower tens of millions of consumers to improve their financial lives and access what matters most. Leveraging innovative solutions that are shaping the future of retail commerce, Synchrony supports the growth and success of some of the nation’s most respected brands, alongside hundreds of thousands of small and midsize businesses, including health and wellness providers. Committed to excellence in service and culture, Synchrony is honored to be ranked the #1 Best Company to Work For® in the U.S. by Fortune magazine and Great Place to Work®. For more information, visit www.synchrony.com Investor Relations Media Relations Kathryn Miller Ashley Tufts (203) 585-6291 (203) 216-6277
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Cautionary Statement Regarding Forward-Looking Statements This news release contains certain forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. Forward-looking statements may be identified by words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "targets," "outlook," "estimates," "will," "should," "may," “aim,” “focus,” “goal,” “confident,” “trajectory,” "priorities," "designed," "consider," “opportunity” or words of similar meaning, but these words are not the exclusive means of identifying forward-looking statements. Forward- looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. Factors that could cause actual results to differ materially include global political, economic, business, competitive, market, regulatory and other factors and risks, such as: the impact of macroeconomic and geopolitical conditions, including factors impacting consumer confidence and economic growth in the United States, such as inflation, interest rates, tariffs (including retaliatory tariffs), energy prices, global conflicts and an economic downturn or recession, and whether industry trends we have identified develop as anticipated; the impact of changes made or influenced by the U.S. presidential administration and Congress on fiscal, monetary and regulatory policy, including with respect to constraints on the pricing of our credit products; the impact of the federal government shutdowns; retaining existing partners and attracting new partners, concentration of our revenue in a small number of partners, and promotion and support of our products by our partners; cyber-attacks or other security incidents or breaches; disruptions in the operations of our and our outsourced partners' computer systems and data centers; the financial performance of our partners; product, pricing, and policy changes related to the Consumer Financial Protection Bureau’s (the “CFPB”) final rule on credit card late fees, which was vacated in April 2025; the sufficiency of our allowance for credit losses and the accuracy of the assumptions or estimates used in preparing our financial statements, including those related to the CECL accounting guidance; higher borrowing costs and adverse financial market conditions impacting our funding and liquidity, and any reduction in our credit ratings; our ability to grow our deposits in the future; damage to our reputation; our ability to securitize our loan receivables, occurrence of an early amortization of our securitization facilities, and lower payment rates on our securitized loan receivables; changes in benchmark or market interest rates; effectiveness of our risk management processes and procedures, reliance on models which may be inaccurate or misinterpreted, and our ability to manage our credit risk; our ability to offset increases in our costs in retailer share arrangements; competition in the consumer finance industry; our concentration in the U.S. consumer credit market and susceptibility to market fluctuations and legislative and regulatory developments; our ability to successfully develop and commercialize new or enhanced products and services; our ability to realize the value of acquisitions, dispositions and strategic investments; reductions in interchange fees; fraudulent activity; failure of third-parties to provide various services that are important to our operations; international risks and compliance and regulatory risks and costs associated with international operations; alleged infringement of intellectual property rights of others and our ability to protect our intellectual property; litigation, regulatory actions and compliance issues; our ability to attract, retain and motivate key officers and employees; tax legislation initiatives or challenges to our tax positions and/or interpretations, and state sales tax rules and regulations; regulation, supervision, examination and enforcement of our business by governmental authorities, the impact of the Dodd- Frank Wall Street Reform and Consumer Protection Act and other legislative and regulatory developments and the impact of the CFPB’s regulation of our business, including new requirements and constraints the Company and the Bank are or will become subject to as a result of having $100 billion or more in total assets; impact of capital adequacy rules and liquidity requirements; restrictions that limit our ability to pay dividends and repurchase our common stock, and restrictions that limit the Bank’s ability to pay dividends to us; regulations relating to privacy, information security and data protection; use of third-party vendors and ongoing third-party business relationships; and failure to comply with anti-money laundering and anti-terrorism financing laws.
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Cautionary Statement Regarding Forward-Looking Statements (Continued) For the reasons described above, we caution you against relying on any forward-looking statements, which should also be read in conjunction with the other cautionary statements that are included elsewhere in this news release and in our public filings, including under the headings "Risk Factors Relating to our Business" and “Risk Factors Relating to Regulation” in the Company's most recent Annual Report on Form 10-K. You should not consider any list of such factors to be an exhaustive statement of all the risks, uncertainties, or potentially inaccurate assumptions that could cause our current expectations or beliefs to change. Further, any forward- looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as otherwise may be required by law. Non-GAAP Measures The information provided herein includes measures we refer to as "tangible common equity" and “tangible book value per share,” which are not prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). For a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures, please see the detailed financial tables and information that follow. For a statement regarding the usefulness of these measures to investors, please see the Company's Current Report on Form 8-K filed with the SEC today.
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SYNCHRONY FINANCIAL FINANCIAL SUMMARY (unaudited, in millions, except per share statistics) Quarter Ended Six Months Ended Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 2Q'26 vs. 2Q'25 Jun 30, 2026 Jun 30, 2025 YTD'26 vs. YTD'25 EARNINGS Net interest income $ 4,608 $ 4,635 $ 4,761 $ 4,720 $ 4,521 $ 87 1.9 % $ 9,243 $ 8,985 $ 258 2.9 % Retailer share arrangements (1,027) (1,070) (1,094) (1,024) (992) (35) 3.5 % (2,097) (1,887) (210) 11.1 % Provision for credit losses 1,201 1,335 1,442 1,146 1,146 55 4.8 % 2,536 2,637 (101) (3.8) % Net interest income, after retailer share arrangements and provision for credit losses 2,380 2,230 2,225 2,550 2,383 (3) (0.1) % 4,610 4,461 149 3.3 % Other income 137 133 126 127 118 19 16.1 % 270 267 3 1.1 % Other expense 1,331 1,316 1,399 1,248 1,245 86 6.9 % 2,647 2,488 159 6.4 % Earnings before provision for income taxes 1,186 1,047 952 1,429 1,256 (70) (5.6) % 2,233 2,240 (7) (0.3) % Provision for income taxes 301 242 201 352 289 12 4.2 % 543 516 27 5.2 % Net earnings $ 885 $ 805 $ 751 $ 1,077 $ 967 $ (82) (8.5) % $ 1,690 $ 1,724 $ (34) (2.0) % Net earnings available to common stockholders $ 864 $ 784 $ 730 $ 1,057 $ 946 $ (82) (8.7) % $ 1,648 $ 1,682 $ (34) (2.0) % COMMON SHARE STATISTICS Basic EPS $ 2.61 $ 2.29 $ 2.07 $ 2.89 $ 2.51 $ 0.10 4.0 % $ 4.89 $ 4.42 $ 0.47 10.6 % Diluted EPS $ 2.59 $ 2.27 $ 2.04 $ 2.86 $ 2.50 $ 0.09 3.6 % $ 4.85 $ 4.38 $ 0.47 10.7 % Dividend declared per share $ 0.30 $ 0.30 $ 0.30 $ 0.30 $ 0.30 $ — — % $ 0.60 $ 0.55 $ 0.05 9.1 % Common stock price $ 76.05 $ 68.02 $ 83.43 $ 71.05 $ 66.74 $ 9.31 13.9 % $ 76.05 $ 66.74 $ 9.31 13.9 % Book value per share $ 46.67 $ 45.29 $ 44.74 $ 44.00 $ 42.30 $ 4.37 10.3 % $ 46.67 $ 42.30 $ 4.37 10.3 % Tangible book value per share(1)(2) $ 42.01 $ 40.95 $ 40.52 $ 40.28 $ 38.72 $ 3.29 8.5 % $ 42.01 $ 38.72 $ 3.29 8.5 % Beginning common shares outstanding 336.8 347.4 360.1 371.9 380.5 (43.7) (11.5) % 347.4 388.3 (40.9) (10.5) % Issuance of common shares — — — — — — NM — — — NM Stock-based compensation 0.2 1.9 0.3 0.3 0.2 — — % 2.1 2.2 (0.1) (4.5) % Shares repurchased (11.7) (12.5) (13.0) (12.1) (8.8) (2.9) 33.0 % (24.2) (18.6) (5.6) 30.1 % Ending common shares outstanding 325.3 336.8 347.4 360.1 371.9 (46.6) (12.5) % 325.3 371.9 (46.6) (12.5) % Weighted average common shares outstanding 331.3 342.4 352.7 365.9 376.2 (44.9) (11.9) % 336.8 380.7 (43.9) (11.5) % Weighted average common shares outstanding (fully diluted) 334.1 346.0 357.6 369.9 379.1 (45.0) (11.9) % 340.0 384.2 (44.2) (11.5) % (1) Tangible book value per share is a non-GAAP measure, calculated based on Tangible common equity divided by common shares outstanding. For corresponding reconciliation of this measure to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures. (2) Amounts prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See Statements of Financial Position for additional information. 1
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SYNCHRONY FINANCIAL SELECTED METRICS (unaudited, $ in millions) Quarter Ended Six Months Ended Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 2Q'26 vs. 2Q'25 Jun 30, 2026 Jun 30, 2025 YTD'26 vs. YTD'25 PERFORMANCE METRICS Return on assets(1) 2.9 % 2.7 % 2.5 % 3.6 % 3.2 % (0.3) % 2.8 % 2.9 % (0.1) % Return on equity(2) 21.4 % 19.5 % 17.6 % 25.1 % 23.1 % (1.7) % 20.4 % 20.8 % (0.4) % Return on tangible common equity(3)(4) 25.2 % 22.6 % 20.3 % 28.9 % 26.7 % (1.5) % 23.9 % 24.0 % (0.1) % Net interest margin(5) 15.08 % 15.50 % 15.83 % 15.62 % 14.78 % 0.30 % 15.29 % 14.76 % 0.53 % Efficiency ratio(6) 35.8 % 35.6 % 36.9 % 32.6 % 34.1 % 1.7 % 35.7 % 33.8 % 1.9 % Other expense as a % of average loan receivables, including held for sale 5.30 % 5.30 % 5.50 % 4.96 % 5.03 % 0.27 % 5.30 % 5.01 % 0.29 % Effective income tax rate 25.4 % 23.1 % 21.1 % 24.6 % 23.0 % 2.4 % 24.3 % 23.0 % 1.3 % CREDIT QUALITY METRICS Net charge-offs as a % of average loan receivables, including held for sale 5.43 % 5.42 % 5.37 % 5.16 % 5.70 % (0.27) % 5.43 % 6.04 % (0.61) % 30+ days past due as a % of period-end loan receivables(7) 4.16 % 4.54 % 4.49 % 4.39 % 4.18 % (0.02) % 4.16 % 4.18 % (0.02) % 90+ days past due as a % of period-end loan receivables(7) 2.01 % 2.28 % 2.17 % 2.12 % 2.06 % (0.05) % 2.01 % 2.06 % (0.05) % Net charge-offs $ 1,364 $ 1,346 $ 1,367 $ 1,298 $ 1,411 $ (47) (3.3) % $ 2,710 $ 2,999 $ (289) (9.6) % Loan receivables delinquent over 30 days(7) $ 4,249 $ 4,543 $ 4,660 $ 4,400 $ 4,173 $ 76 1.8 % $ 4,249 $ 4,173 $ 76 1.8 % Loan receivables delinquent over 90 days(7) $ 2,050 $ 2,284 $ 2,248 $ 2,128 $ 2,059 $ (9) (0.4) % $ 2,050 $ 2,059 $ (9) (0.4) % Allowance for credit losses (period-end) $ 10,312 $ 10,428 $ 10,442 $ 10,373 $ 10,564 $ (252) (2.4) % $ 10,312 $ 10,564 $ (252) (2.4) % Allowance coverage ratio(8) 10.09 % 10.42 % 10.06 % 10.35 % 10.59 % (0.50) % 10.09 % 10.59 % (0.50) % BUSINESS METRICS Purchase volume(9) $ 49,827 $ 42,984 $ 49,476 $ 46,005 $ 46,084 $ 3,743 8.1 % $ 92,811 $ 86,804 $ 6,007 6.9 % Period-end loan receivables $ 102,208 $ 100,085 $ 103,808 $ 100,178 $ 99,776 $ 2,432 2.4 % $ 102,208 $ 99,776 $ 2,432 2.4 % Credit cards $ 94,233 $ 92,764 $ 96,346 $ 92,550 $ 92,036 $ 2,197 2.4 % $ 94,233 $ 92,036 $ 2,197 2.4 % Consumer installment loans $ 5,233 $ 5,357 $ 5,548 $ 5,584 $ 5,669 $ (436) (7.7) % $ 5,233 $ 5,669 $ (436) (7.7) % Commercial credit products $ 2,681 $ 1,886 $ 1,833 $ 1,961 $ 1,980 $ 701 35.4 % $ 2,681 $ 1,980 $ 701 35.4 % Other $ 61 $ 78 $ 81 $ 83 $ 91 $ (30) (33.0) % $ 61 $ 91 $ (30) (33.0) % Average loan receivables, including held for sale $ 100,702 $ 100,693 $ 100,982 $ 99,885 $ 99,236 $ 1,466 1.5 % $ 100,698 $ 100,123 $ 575 0.6 % Period-end active accounts (in thousands)(10) 68,410 67,828 70,693 68,585 68,186 224 0.3 % 68,410 68,186 224 0.3 % Average active accounts (in thousands)(10) 68,341 68,815 69,304 68,318 68,050 291 0.4 % 68,685 68,810 (125) (0.2) % LIQUIDITY Liquid assets Cash and equivalents $ 16,193 $ 20,559 $ 14,973 $ 16,245 $ 19,457 $ (3,264) (16.8) % $ 16,193 $ 19,457 $ (3,264) (16.8) % Total liquid assets $ 19,786 $ 22,845 $ 16,562 $ 18,234 $ 21,796 $ (2,010) (9.2) % $ 19,786 $ 21,796 $ (2,010) (9.2) % Undrawn credit facilities Undrawn credit facilities $ 2,125 $ 2,125 $ 2,125 $ 2,125 $ 2,625 $ (500) (19.0) % $ 2,125 $ 2,625 $ (500) (19.0) % Total liquid assets and undrawn credit facilities(11) $ 21,911 $ 24,970 $ 18,687 $ 20,359 $ 24,421 $ (2,510) (10.3) % $ 21,911 $ 24,421 $ (2,510) (10.3) % Liquid assets % of total assets 16.23 % 18.80 % 13.91 % 15.59 % 18.09 % (1.86) % 16.23 % 18.09 % (1.86) % Liquid assets including undrawn credit facilities % of total assets 17.97 % 20.55 % 15.69 % 17.40 % 20.27 % (2.30) % 17.97 % 20.27 % (2.30) % (1) Return on assets represents annualized net earnings as a percentage of average total assets. (2) Return on equity represents annualized net earnings as a percentage of average total equity. (3) Return on tangible common equity represents annualized net earnings available to common stockholders as a percentage of average tangible common equity. Tangible common equity ("TCE") is a non-GAAP measure. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures. (4) Amounts prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See Statements of Financial Position for additional information. (5) Net interest margin represents annualized net interest income divided by average total interest-earning assets. (6) Efficiency ratio represents (i) other expense, divided by (ii) net interest income, plus other income, less retailer share arrangements. (7) Based on customer statement-end balances extrapolated to the respective period-end date. (8) Allowance coverage ratio represents allowance for credit losses divided by total period-end loan receivables. (9) Purchase volume, or net credit sales, represents the aggregate amount of charges incurred on credit cards or other credit product accounts less returns during the period. (10) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month. (11) Excludes uncommitted credit facilities and available borrowing capacity related to unencumbered assets. 2
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SYNCHRONY FINANCIAL STATEMENTS OF EARNINGS (unaudited, $ in millions) Quarter Ended Six Months Ended Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 2Q'26 vs. 2Q'25 Jun 30, 2026 Jun 30, 2025 YTD'26 vs. YTD'25 Interest income: Interest and fees on loans $ 5,380 $ 5,413 $ 5,548 $ 5,510 $ 5,328 $ 52 1.0 % $ 10,793 $ 10,640 $ 153 1.4 % Interest on cash and debt securities 203 190 186 221 258 (55) (21.3) % 393 496 (103) (20.8) % Total interest income 5,583 5,603 5,734 5,731 5,586 (3) (0.1) % 11,186 11,136 50 0.4 % Interest expense: Interest on deposits 767 770 781 812 855 (88) (10.3) % 1,537 1,737 (200) (11.5) % Interest on borrowings of consolidated securitization entities 111 106 104 105 104 7 6.7 % 217 208 9 4.3 % Interest on senior unsecured notes 97 92 88 94 106 (9) (8.5) % 189 206 (17) (8.3) % Total interest expense 975 968 973 1,011 1,065 (90) (8.5) % 1,943 2,151 (208) (9.7) % Net interest income 4,608 4,635 4,761 4,720 4,521 87 1.9 % 9,243 8,985 258 2.9 % Retailer share arrangements (1,027) (1,070) (1,094) (1,024) (992) (35) 3.5 % (2,097) (1,887) (210) 11.1 % Provision for credit losses 1,201 1,335 1,442 1,146 1,146 55 4.8 % 2,536 2,637 (101) (3.8) % Net interest income, after retailer share arrangements and provision for credit losses 2,380 2,230 2,225 2,550 2,383 (3) (0.1) % 4,610 4,461 149 3.3 % Other income: Interchange revenue 300 264 289 272 268 32 11.9 % 564 506 58 11.5 % Protection product revenue 161 161 156 149 144 17 11.8 % 322 291 31 10.7 % Loyalty programs (436) (361) (399) (368) (360) (76) 21.1 % (797) (671) (126) 18.8 % Other 112 69 80 74 66 46 69.7 % 181 141 40 28.4 % Total other income 137 133 126 127 118 19 16.1 % 270 267 3 1.1 % Other expense: Employee costs 516 515 575 503 509 7 1.4 % 1,031 1,015 16 1.6 % Professional fees 220 209 243 240 236 (16) (6.8) % 429 453 (24) (5.3) % Marketing and business development 137 114 148 120 127 10 7.9 % 251 243 8 3.3 % Information processing 248 262 239 226 215 33 15.3 % 510 434 76 17.5 % Other 210 216 194 159 158 52 32.9 % 426 343 83 24.2 % Total other expense 1,331 1,316 1,399 1,248 1,245 86 6.9 % 2,647 2,488 159 6.4 % Earnings before provision for income taxes 1,186 1,047 952 1,429 1,256 (70) (5.6) % 2,233 2,240 (7) (0.3) % Provision for income taxes 301 242 201 352 289 12 4.2 % 543 516 27 5.2 % Net earnings $ 885 $ 805 $ 751 $ 1,077 $ 967 $ (82) (8.5) % $ 1,690 $ 1,724 $ (34) (2.0) % Net earnings available to common stockholders $ 864 $ 784 $ 730 $ 1,057 $ 946 $ (82) (8.7) % $ 1,648 $ 1,682 $ (34) (2.0) % 3
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SYNCHRONY FINANCIAL STATEMENTS OF FINANCIAL POSITION (unaudited, $ in millions) Quarter Ended Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Jun 30, 2026 vs. Jun 30, 2025 Assets Cash and equivalents $ 16,193 $ 20,559 $ 14,973 $ 16,245 $ 19,457 $ (3,264) (16.8) % Debt securities 4,365 3,040 2,348 2,716 2,905 1,460 50.3 % Loan receivables: Unsecuritized loans held for investment 80,367 78,423 81,408 79,207 78,566 1,801 2.3 % Restricted loans of consolidated securitization entities 21,841 21,662 22,400 20,971 21,210 631 3.0 % Total loan receivables 102,208 100,085 103,808 100,178 99,776 2,432 2.4 % Less: Allowance for credit losses (10,312) (10,428) (10,442) (10,373) (10,564) 252 (2.4) % Loan receivables, net 91,896 89,657 93,366 89,805 89,212 2,684 3.0 % Loan receivables held for sale — — — 192 191 (191) (100.0) % Goodwill 1,363 1,363 1,363 1,274 1,274 89 7.0 % Intangible assets, net(1) 152 100 104 64 57 95 166.7 % Other assets(1) 7,961 6,782 6,941 6,688 7,409 552 7.5 % Total assets $ 121,930 $ 121,501 $ 119,095 $ 116,984 $ 120,505 $ 1,425 1.2 % Liabilities and Equity Deposits: Interest-bearing deposit accounts $ 82,376 $ 82,478 $ 80,748 $ 79,513 $ 81,857 $ 519 0.6 % Non-interest-bearing deposit accounts 430 416 396 373 405 25 6.2 % Total deposits 82,806 82,894 81,144 79,886 82,262 544 0.7 % Borrowings: Borrowings of consolidated securitization entities 8,916 8,915 8,415 7,666 8,340 576 6.9 % Senior and Subordinated unsecured notes 7,516 7,513 6,767 6,765 7,669 (153) (2.0) % Total borrowings 16,432 16,428 15,182 14,431 16,009 423 2.6 % Accrued expenses and other liabilities 5,795 5,702 6,003 5,602 5,282 513 9.7 % Total liabilities 105,033 105,024 102,329 99,919 103,553 1,480 1.4 % Equity: Preferred stock 1,716 1,222 1,222 1,222 1,222 494 40.4 % Common stock 1 1 1 1 1 — — % Additional paid-in capital 9,876 9,844 9,902 9,866 9,836 40 0.4 % Retained earnings 25,968 25,210 24,598 23,978 23,036 2,932 12.7 % Accumulated other comprehensive income (loss) (71) (56) (48) (46) (45) (26) 57.8 % Treasury stock (20,593) (19,744) (18,909) (17,956) (17,098) (3,495) 20.4 % Total equity 16,897 16,477 16,766 17,065 16,952 (55) (0.3) % Total liabilities and equity $ 121,930 $ 121,501 $ 119,095 $ 116,984 $ 120,505 $ 1,425 1.2 % (1) At June 30, 2026, internal-use capitalized software of $1.1 billion, net of accumulated amortization, is now presented as a component of Other assets on our Consolidated Statement of Financial Position. Reclassifications of prior period amounts previously classified as Intangible assets have been made to conform with the current presentation. Prior period amounts subject to reclassification were $1.1 billion, $1.2 billion, $845 million, and $805 million, net of accumulated amortization, at March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively. 4
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SYNCHRONY FINANCIAL AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN (unaudited, $ in millions) Quarter Ended Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Interest Average Interest Average Interest Average Interest Average Interest Average Average Income/ Yield/ Average Income/ Yield/ Average Income/ Yield/ Average Income/ Yield/ Average Income/ Yield/ Balance Expense Rate(1) Balance Expense Rate(1) Balance Expense Rate(1) Balance Expense Rate(1) Balance Expense Rate(1) Assets Interest-earning assets: Interest-earning cash and equivalents $ 18,067 $ 167 3.71 % $ 17,992 $ 163 3.67 % $ 15,679 $ 158 4.00 % $ 17,131 $ 187 4.33 % $ 20,699 $ 228 4.42 % Securities available for sale 3,775 36 3.83 % 2,595 27 4.22 % 2,635 28 4.22 % 2,872 34 4.70 % 2,774 30 4.34 % Loan receivables, including held for sale: Credit cards 92,690 5,092 22.03 % 93,290 5,152 22.40 % 93,389 5,297 22.50 % 92,176 5,255 22.62 % 91,460 5,076 22.26 % Consumer installment loans 5,288 187 14.18 % 5,465 188 13.95 % 5,548 198 14.16 % 5,618 208 14.69 % 5,692 207 14.59 % Commercial credit products 2,646 100 15.16 % 1,857 72 15.72 % 1,962 52 10.52 % 2,006 46 9.10 % 1,981 43 8.71 % Other 78 1 5.14 % 81 1 5.01 % 83 1 4.78 % 85 1 4.67 % 103 2 7.79 % Total loan receivables, including held for sale 100,702 5,380 21.43 % 100,693 5,413 21.80 % 100,982 5,548 21.80 % 99,885 5,510 21.89 % 99,236 5,328 21.54 % Total interest-earning assets 122,544 5,583 18.27 % 121,280 5,603 18.74 % 119,296 5,734 19.07 % 119,888 5,731 18.97 % 122,709 5,586 18.26 % Non-interest-earning assets: Cash and due from banks 945 976 864 892 868 Allowance for credit losses (10,428) (10,431) (10,391) (10,536) (10,797) Other assets 8,209 8,223 8,131 7,913 7,661 Total non-interest-earning assets (1,274) (1,232) (1,396) (1,731) (2,268) Total assets $ 121,270 $ 120,048 $ 117,900 $ 118,157 $ 120,441 Liabilities Interest-bearing liabilities: Interest-bearing deposit accounts $ 82,279 $ 767 3.74 % $ 81,704 $ 770 3.82 % $ 80,117 $ 781 3.87 % $ 80,442 $ 812 4.00 % $ 82,014 $ 855 4.18 % Borrowings of consolidated securitization entities 8,915 111 4.99 % 8,482 106 5.07 % 8,032 104 5.14 % 7,768 105 5.36 % 7,926 104 5.26 % Senior and Subordinated unsecured notes 7,514 97 5.18 % 7,056 92 5.29 % 6,765 88 5.16 % 7,209 94 5.17 % 8,269 106 5.14 % Total interest-bearing liabilities 98,708 975 3.96 % 97,242 968 4.04 % 94,914 973 4.07 % 95,419 1,011 4.20 % 98,209 1,065 4.35 % Non-interest-bearing liabilities Non-interest-bearing deposit accounts 419 414 382 410 412 Other liabilities 5,540 5,621 5,667 5,287 5,065 Total non-interest-bearing liabilities 5,959 6,035 6,049 5,697 5,477 Total liabilities 104,667 103,277 100,963 101,116 103,686 Equity Total equity 16,603 16,771 16,937 17,041 16,755 Total liabilities and equity $ 121,270 $ 120,048 $ 117,900 $ 118,157 $ 120,441 Net interest income $ 4,608 $ 4,635 $ 4,761 $ 4,720 $ 4,521 Interest rate spread(2) 14.31 % 14.70 % 15.00 % 14.76 % 13.91 % Net interest margin(3) 15.08 % 15.50 % 15.83 % 15.62 % 14.78 % (1) Average yields/rates are based on annualized total interest income/expense divided by average balances. (2) Interest rate spread represents the difference between the yield on total interest-earning assets and the rate on total interest-bearing liabilities. (3) Net interest margin represents annualized net interest income divided by average total interest-earning assets. 5
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SYNCHRONY FINANCIAL AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN (unaudited, $ in millions) Six Months Ended Jun 30, 2026 Six Months Ended Jun 30, 2025 Interest Average Interest Average Average Income/ Yield/ Average Income/ Yield/ Balance Expense Rate(1) Balance Expense Rate(1) Assets Interest-earning assets: Interest-earning cash and equivalents $ 18,030 $ 330 3.69 % $ 19,625 $ 431 4.43 % Securities available for sale 3,188 63 3.99 % 3,001 65 4.37 % Loan receivables, including held for sale: Credit cards 92,989 10,244 22.22 % 92,345 10,131 22.12 % Consumer installment loans 5,376 375 14.07 % 5,762 418 14.63 % Commercial credit products 2,254 172 15.39 % 1,912 88 9.28 % Other 79 2 5.11 % 104 3 5.82 % Total loan receivables, including held for sale 100,698 10,793 21.61 % 100,123 10,640 21.43 % Total interest-earning assets 121,916 11,186 18.50 % 122,749 11,136 18.29 % Non-interest-earning assets: Cash and due from banks 960 868 Allowance for credit losses (10,429) (10,866) Other assets 8,216 7,716 Total non-interest-earning assets (1,253) (2,282) Total assets $ 120,663 $ 120,467 Liabilities Interest-bearing liabilities: Interest-bearing deposit accounts $ 81,993 $ 1,537 3.78 % $ 82,191 $ 1,737 4.26 % Borrowings of consolidated securitization entities 8,700 217 5.03 % 8,058 208 5.21 % Senior and subordinated unsecured notes 7,286 189 5.23 % 8,061 206 5.15 % Total interest-bearing liabilities 97,979 1,943 4.00 % 98,310 2,151 4.41 % Non-interest-bearing liabilities Non-interest-bearing deposit accounts 417 415 Other liabilities 5,580 5,016 Total non-interest-bearing liabilities 5,997 5,431 Total liabilities 103,976 103,741 Equity Total equity 16,687 16,726 Total liabilities and equity $ 120,663 $ 120,467 Net interest income $ 9,243 $ 8,985 Interest rate spread(2) 14.50 % 13.88 % Net interest margin(3) 15.29 % 14.76 % (1) Average yields/rates are based on annualized total interest income/expense divided by average balances. (2) Interest rate spread represents the difference between the yield on total interest-earning assets and the rate on total interest-bearing liabilities. (3) Net interest margin represents annualized net interest income divided by average total interest-earning assets. 6
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SYNCHRONY FINANCIAL BALANCE SHEET STATISTICS (unaudited, $ in millions, except per share statistics) Quarter Ended Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Jun 30, 2026 vs. Jun 30, 2025 BALANCE SHEET STATISTICS Total common equity $ 15,181 $ 15,255 $ 15,544 $ 15,843 $ 15,730 $ (549) (3.5) % Total common equity as a % of total assets 12.45 % 12.56 % 13.05 % 13.54 % 13.05 % (0.60) % Tangible assets(1) $ 120,415 $ 120,038 $ 117,628 $ 115,646 $ 119,174 $ 1,241 1.0 % Tangible common equity(1)(2) $ 13,666 $ 13,792 $ 14,077 $ 14,505 $ 14,399 $ (733) (5.1) % Tangible common equity as a % of tangible assets(1)(2) 11.35 % 11.49 % 11.97 % 12.54 % 12.08 % (0.73) % Tangible book value per share(1)(3) $ 42.01 $ 40.95 $ 40.52 $ 40.28 $ 38.72 $ 3.29 8.5 % REGULATORY CAPITAL RATIOS(1)(4) Basel III Total risk-based capital ratio(5) 16.9 % 16.9 % 16.7 % 17.6 % 17.5 % Tier 1 risk-based capital ratio(6) 14.9 % 14.8 % 14.6 % 15.5 % 15.4 % Tier 1 leverage ratio(7) 13.0 % 12.8 % 13.3 % 13.6 % 13.3 % Common equity Tier 1 capital ratio 13.2 % 13.6 % 13.5 % 14.3 % 14.2 % (1) Amounts and ratios prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See Statements of Financial Position for additional information. (2) Tangible common equity ("TCE") is a non-GAAP measure. We believe TCE is a more meaningful measure of the net asset value of the Company to investors. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures. (3) Tangible book value per share is a non-GAAP measure, calculated based on Tangible common equity divided by common shares outstanding. For corresponding reconciliation of this measure to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures. (4) Regulatory capital ratios at June 30, 2026 are preliminary and therefore subject to change. (5) Total risk-based capital ratio is the ratio of total risk-based capital divided by risk-weighted assets. (6) Tier 1 risk-based capital ratio is the ratio of Tier 1 capital divided by risk-weighted assets. (7) Tier 1 leverage ratio is the ratio of Tier 1 capital divided by total average assets, after certain adjustments. 7
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SYNCHRONY FINANCIAL PLATFORM RESULTS (unaudited, unrounded, $ in millions) Quarter Ended Six Months Ended Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 2Q'26 vs. 2Q'25 Jun 30, 2026 Jun 30, 2025 YTD '26 vs. YTD '25 HOME & AUTO Purchase volume(1) $ 12,120 $ 9,443 $ 10,381 $ 11,061 $ 11,459 $ 661 5.8 % $ 21,563 $ 20,905 $ 658 3.1 % Period-end loan receivables $ 30,351 $ 29,136 $ 30,106 $ 30,295 $ 30,374 $ (23) (0.1) % $ 30,351 $ 30,374 $ (23) (0.1) % Average loan receivables, including held for sale $ 29,868 $ 29,367 $ 30,055 $ 30,260 $ 30,137 $ (269) (0.9) % $ 29,619 $ 30,472 $ (853) (2.8) % Average active accounts (in thousands)(2) 17,383 16,847 17,370 17,749 17,831 (448) (2.5) % 17,176 17,899 (723) (4.0) % Interest and fees on loans $ 1,394 $ 1,379 $ 1,444 $ 1,443 $ 1,395 $ (1) (0.1) % $ 2,773 $ 2,797 $ (24) (0.9) % Other income $ 63 $ 55 $ 52 $ 54 $ 52 $ 11 21.2 % $ 118 $ 108 $ 10 9.3 % DIGITAL Purchase volume(1) $ 14,897 $ 13,499 $ 16,206 $ 14,044 $ 13,647 $ 1,250 9.2 % $ 28,396 $ 26,126 $ 2,270 8.7 % Period-end loan receivables $ 29,011 $ 28,733 $ 30,057 $ 28,179 $ 27,786 $ 1,225 4.4 % $ 29,011 $ 27,786 $ 1,225 4.4 % Average loan receivables, including held for sale $ 28,538 $ 29,024 $ 28,676 $ 27,880 $ 27,571 $ 967 3.5 % $ 28,780 $ 27,892 $ 888 3.2 % Average active accounts (in thousands)(2) 20,662 21,268 21,352 20,680 20,368 294 1.4 % 20,962 20,554 408 2.0 % Interest and fees on loans $ 1,604 $ 1,632 $ 1,663 $ 1,631 $ 1,576 $ 28 1.8 % $ 3,236 $ 3,120 $ 116 3.7 % Other income $ (5) $ 9 $ (6) $ (2) $ — $ (5) NM $ 4 $ 9 $ (5) (55.6) % DIVERSIFIED & VALUE Purchase volume(1) $ 17,200 $ 14,926 $ 17,462 $ 15,417 $ 15,393 $ 1,807 11.7 % $ 32,126 $ 29,125 $ 3,001 10.3 % Period-end loan receivables $ 20,770 $ 20,269 $ 21,236 $ 19,500 $ 19,510 $ 1,260 6.5 % $ 20,770 $ 19,510 $ 1,260 6.5 % Average loan receivables, including held for sale $ 20,348 $ 20,229 $ 19,978 $ 19,440 $ 19,338 $ 1,010 5.2 % $ 20,289 $ 19,504 $ 785 4.0 % Average active accounts (in thousands)(2) 20,160 20,416 20,170 19,470 19,471 689 3.5 % 20,329 19,858 471 2.4 % Interest and fees on loans $ 1,177 $ 1,195 $ 1,200 $ 1,192 $ 1,159 $ 18 1.6 % $ 2,372 $ 2,337 $ 35 1.5 % Other income $ (51) $ (18) $ (13) $ (3) $ (3) $ (48) NM $ (69) $ (3) $ (66) NM HEALTH & WELLNESS Purchase volume(1) $ 4,092 $ 3,871 $ 3,897 $ 3,976 $ 4,007 $ 85 2.1 % $ 7,963 $ 7,781 $ 182 2.3 % Period-end loan receivables $ 15,390 $ 15,309 $ 15,545 $ 15,447 $ 15,309 $ 81 0.5 % $ 15,390 $ 15,309 $ 81 0.5 % Average loan receivables, including held for sale $ 15,296 $ 15,373 $ 15,499 $ 15,347 $ 15,215 $ 81 0.5 % $ 15,335 $ 15,247 $ 88 0.6 % Average active accounts (in thousands)(2) 7,580 7,680 7,770 7,730 7,697 (117) (1.5) % 7,631 7,740 (109) (1.4) % Interest and fees on loans $ 948 $ 948 $ 979 $ 967 $ 923 $ 25 2.7 % $ 1,896 $ 1,837 $ 59 3.2 % Other income $ 82 $ 80 $ 79 $ 73 $ 66 $ 16 24.2 % $ 162 $ 141 $ 21 14.9 % LIFESTYLE Purchase volume(1) $ 1,518 $ 1,245 $ 1,522 $ 1,371 $ 1,432 $ 86 6.0 % $ 2,763 $ 2,600 $ 163 6.3 % Period-end loan receivables $ 6,613 $ 6,548 $ 6,771 $ 6,644 $ 6,673 $ (60) (0.9) % $ 6,613 $ 6,673 $ (60) (0.9) % Average loan receivables, including held for sale $ 6,561 $ 6,607 $ 6,657 $ 6,652 $ 6,646 $ (85) (1.3) % $ 6,584 $ 6,681 $ (97) (1.5) % Average active accounts (in thousands)(2) 2,539 2,584 2,589 2,543 2,531 8 0.3 % 2,569 2,598 (29) (1.1) % Interest and fees on loans $ 256 $ 258 $ 265 $ 264 $ 261 $ (5) (1.9) % $ 514 $ 522 $ (8) (1.5) % Other income $ 12 $ 11 $ 11 $ 11 $ 9 $ 3 33.3 % $ 23 $ 19 $ 4 21.1 % CORP, OTHER(3) Purchase volume(1) $ — $ — $ 8 $ 136 $ 146 $ (146) (100.0) % $ — $ 267 $ (267) (100.0) % Period-end loan receivables $ 73 $ 90 $ 93 $ 113 $ 124 $ (51) (41.1) % $ 73 $ 124 $ (51) (41.1) % Average loan receivables, including held for sale $ 91 $ 93 $ 117 $ 306 $ 329 $ (238) (72.3) % $ 91 $ 327 $ (236) (72.2) % Average active accounts (in thousands)(2) 17 20 53 146 152 (135) (88.8) % 18 161 (143) (88.8) % Interest and fees on loans $ 1 $ 1 $ (3) $ 13 $ 14 $ (13) (92.9) % $ 2 $ 27 $ (25) (92.6) % Other income $ 36 $ (4) $ 3 $ (6) $ (6) $ 42 NM $ 32 $ (7) $ 39 NM TOTAL SYF(3) Purchase volume(1) $ 49,827 $ 42,984 $ 49,476 $ 46,005 $ 46,084 $ 3,743 8.1 % $ 92,811 $ 86,804 $ 6,007 6.9 % Period-end loan receivables $ 102,208 $ 100,085 $ 103,808 $ 100,178 $ 99,776 $ 2,432 2.4 % $ 102,208 $ 99,776 $ 2,432 2.4 % Average loan receivables, including held for sale $ 100,702 $ 100,693 $ 100,982 $ 99,885 $ 99,236 $ 1,466 1.5 % $ 100,698 $ 100,123 $ 575 0.6 % Average active accounts (in thousands)(2) 68,341 68,815 69,304 68,318 68,050 291 0.4 % 68,685 68,810 (125) (0.2) % Interest and fees on loans $ 5,380 $ 5,413 $ 5,548 $ 5,510 $ 5,328 $ 52 1.0 % $ 10,793 $ 10,640 $ 153 1.4 % Other income $ 137 $ 133 $ 126 $ 127 $ 118 $ 19 16.1 % $ 270 $ 267 $ 3 1.1 % (1) Purchase volume, or net credit sales, represents the aggregate amount of charges incurred on credit cards or other credit product accounts less returns during the period. (2) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month. (3) Includes activity and balances (except for Period-end loan receivables) associated with a loan portfolio which was sold in 4Q 2025. 8
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SYNCHRONY FINANCIAL RECONCILIATION OF NON-GAAP MEASURES AND CALCULATIONS OF REGULATORY MEASURES(1) (unaudited, $ in millions, except per share statistics) Quarter Ended Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 COMMON EQUITY AND REGULATORY CAPITAL MEASURES(2) GAAP Total equity $ 16,897 $ 16,477 $ 16,766 $ 17,065 $ 16,952 Less: Preferred stock (1,716) (1,222) (1,222) (1,222) (1,222) Less: Goodwill (1,363) (1,363) (1,363) (1,274) (1,274) Less: Intangible assets, net (152) (100) (104) (64) (57) Tangible common equity $ 13,666 $ 13,792 $ 14,077 $ 14,505 $ 14,399 Adjustments for certain deferred tax liabilities and certain items in accumulated comprehensive income (loss) 234 223 213 207 209 Common equity Tier 1 $ 13,900 $ 14,015 $ 14,290 $ 14,712 $ 14,608 Preferred stock 1,716 1,222 1,222 1,222 1,222 Tier 1 capital $ 15,616 $ 15,237 $ 15,512 $ 15,934 $ 15,830 Add: Subordinated debt 743 742 742 742 742 Add: Allowance for credit losses includible in risk-based capital 1,423 1,401 1,437 1,396 1,396 Total Risk-based capital $ 17,782 $ 17,380 $ 17,691 $ 18,072 $ 17,968 ASSET MEASURES(2) Total average assets $ 121,270 $ 120,048 $ 117,900 $ 118,157 $ 120,441 Adjustments for: Less: Disallowed goodwill and other disallowed intangible assets (net of related deferred tax liabilities) and other (1,275) (1,238) (1,242) (1,115) (1,108) Total assets for leverage purposes $ 119,995 $ 118,810 $ 116,658 $ 117,042 $ 119,333 Risk-weighted assets $ 104,969 $ 102,995 $ 105,934 $ 102,630 $ 102,531 TIER 1 CAPITAL + RESERVES RATIO(2) Tier 1 capital $ 15,616 $ 15,237 $ 15,512 $ 15,934 $ 15,830 Add: Allowance for credit losses 10,312 10,428 10,442 10,373 10,564 Tier 1 capital + Reserves for credit losses $ 25,928 $ 25,665 $ 25,954 $ 26,307 $ 26,394 TANGIBLE BOOK VALUE PER SHARE(2) Book value per share $ 46.67 $ 45.29 $ 44.74 $ 44.00 $ 42.30 Less: Goodwill (4.19) (4.04) (3.92) (3.55) (3.43) Less: Intangible assets, net (0.47) (0.30) (0.30) (0.17) (0.15) Tangible book value per share $ 42.01 $ 40.95 $ 40.52 $ 40.28 $ 38.72 (1) Regulatory measures at June 30, 2026 are preliminary and therefore subject to change. (2) Amounts prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See Statements of Financial Position for additional information. 9