Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

January 29, 2015

(Date of report; date of

earliest event reported)

Commission file number: 1-3754

ALLY FINANCIAL INC.

(Exact name of registrant as specified in its charter)

Delaware	38-0572512
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

200 Renaissance Center

P.O. Box 200 Detroit, Michigan

48265-2000

(Address of principal executive offices)

(Zip Code)

(866) 710-4623

(Registrant's telephone number, including area code)

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

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

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

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

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

Item 2.02 Results of Operation and Financial Condition.

On January 29, 2015, Ally Financial Inc. issued a press release announcing preliminary operating results for the fourth quarter and full year ended December 31, 2014. The press release is attached hereto and incorporated by reference as Exhibit 99.1. Charts furnished to securities analysts are attached hereto and incorporated by reference as Exhibit 99.2. In addition, supplemental financial data furnished to securities analysts is attached hereto and incorporated by reference as Exhibit 99.3.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Press Release, Dated January 29, 2015
99.2	Charts Furnished to Securities Analysts
99.3	Supplemental Financial Data Furnished to Securities Analysts

SIGNATURES

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

	ALLY FINANCIAL INC.
	(Registrant)



Dated: January 29, 2015	/s/ David J. DeBrunner
	David J. DeBrunner
	Vice President, Chief Accounting Officer
	and Controller

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release, Dated January 29, 2015
99.2	Charts Furnished to Securities Analysts
99.3	Supplemental Financial Data Furnished to Securities Analysts

Exhibit 99.1

Ally Financial Reports Fourth Quarter and Full Year 2014 Financial Results

Fourth quarter net income of $177 million, $0.23 per diluted common share, adjusted EPS of $0.40, compared to $104 million in the fourth quarter of 2013

Full year 2014 net income of $1.2 billion, $1.83 per diluted common share, adjusted EPS of $1.68, compared to $361 million in 2013

Core pre-tax income, excluding repositioning items, of $396 million for the quarter and $1.6 billion for full year 2014, compared to $161 million for the fourth quarter of 2013 and $850 million for full year 2013

Fully exited TARP; U.S. taxpayer received $19.6 billion, $2.4 billion more than initially invested

Net financing revenue, excluding OID, improved 17 percent in 2014

Dealer Financial Services: Pre-tax income up 45 percent from prior year period, and automotive earning assets steadily increased by 3 percent year-over-year

Ally Bank: Annual retail deposit growth of 11 percent to $48.0 billion

NEW YORK (Jan. 29, 2015) – Ally Financial Inc. (NYSE:ALLY) today reported net income of $177 million, or $0.23 per diluted common share, for the fourth quarter of 2014, compared to net income of $423 million, or $0.74 per diluted common share, in the prior quarter, and net income of $104 million, or a loss of $0.78 per diluted common share, for the fourth quarter of 2013. The company reported core pre-tax income¹ of $229 million in the fourth quarter of 2014, compared to core pre-tax income of $467 million in the prior quarter and $142 million in the comparable prior year period. Excluding repositioning items, which were primarily related to the early extinguishment of high-cost legacy debt, the company reported core pre-tax income of $396 million for the quarter. Adjusted earnings per diluted common share² for the quarter were $0.40, compared to $0.53 for the previous quarter, and a loss of $0.14 for the comparable prior year period.

¹ Core pre-tax income reflects income from continuing operations before taxes and original issue discount (OID) amortization expense primarily from legacy bond exchanges.

² Adjusted EPS excludes income from discontinued operations, certain one-time tax items, and the impact of core OID from legacy bond exchanges and repositioning items, net of tax. See slide 9 in the Ally Financial Inc. 4Q Earnings Review presentation which is available at www.ally.com/about/investor/events-presentations/ for details.

Results for the quarter were driven by solid operating results from the Dealer Financial Services group, which increased pre-tax income by 45 percent compared to the prior year period, due in part to the non-recurrence of the $98 million charge related to the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) settlement taken in the prior year period. Ally’s automotive finance franchise continued its strong performance, with earning assets for the business up 3 percent year-over-year. Consumer auto financing originations for the quarter increased to $9.0 billion and $41.0 billion for the year, the highest full year total since 2007. New and used originations from non-GM/Chrysler dealers improved 37 percent compared to the prior year period and increased 45 percent for the full year, and now comprise 22 percent of total consumer originations. Excluding originations from recreational vehicles which are a specialized market, non-GM/Chrysler originations increased approximately 50 percent in the past year.

Overall, significant improvement was made to Ally’s noninterest expense which declined by 24 percent compared to the prior year period, as well as continued improvement in cost of funds, which decreased 31 basis points from the prior year period and 50 basis points for the full year. This was partially offset by expected lower net lease revenue, primarily resulting from lower lease gains.

For the full year 2014, Ally reported net income of $1.2 billion, or $1.83 per diluted common share, compared to net income of $361 million in 2013, or a loss of $1.64 per diluted common share. Core pre-tax income in 2014 totaled $1.4 billion, compared to core pre-tax income of $606 million in the prior year. Excluding repositioning items, Ally reported core pre-tax income of $1.6 billion for 2014, compared to $850 million for 2013. Adjusted earnings per diluted common share for full year 2014 were $1.68, compared to a loss of $0.14 in the prior year.

“The past year’s accomplishments – from successful completion of our initial public offering to repayment of TARP – has solidified Ally’s standing as a stronger, more focused financial services company,” said Chief Executive Officer Michael A. Carpenter. “We began the year with a plan aimed at improving shareholder returns, and significant progress was achieved in 2014 in the areas of net interest margin expansion, expense reduction and regulatory normalization, which all led to a core return on tangible common equity of 7.9 percent for the year. We remain committed to further improving our core return on tangible common equity as we move through 2015.

“At the foundation of this effort have been two very strong franchises in our dealer financial services and direct banking operations,” Carpenter continued. “While we have been transforming our dealer financial services business into a market-driven competitor for several years, in 2014, we began to really accelerate the expansion of our diversification efforts, which now represents 22 percent of our auto originations and approximately 10,000 active dealers. We are well-positioned to continue the momentum in this area of the business this year.”

Carpenter continued, “Ally Bank continues to be a great success story with a lot of potential yet to be harvested. The bank maintained its positive trajectory, with retail deposits up 11 percent year-over-year and more than 900,000 loyal customers who have responded to our consumer-centric philosophy. As we look ahead, we will continue to evaluate ways in which we can further leverage this franchise to meet the financial needs of these consumers.”

Results by Segment

($ millions)

				Increase/(Decrease) vs.
	4Q 14	3Q 14	4Q 13	3Q 14	4Q 13
Automotive Finance	$310	$415	$207	$(105)	$103
Insurance	86	60	67	26	20
Dealer Financial Services	$396	$475	$274	$(79)	$123
Mortgage	19	(3)	(8)	22	27
Corporate and Other (ex. OID)¹	(19)	(5)	(105)	(13)	86
Core pre-tax income, excluding repositioning items²	$396	$467	$161	$(70)	$236
Repositioning items³	(167)	-	(18)	167	149
Core pre-tax income²	$229	$467	$142	$(237)	$87
OID amortization expense	42	47	67	(4)	(25)
Income tax expense/(benefit)	36	127	(4)	(91)	40
Income from discontinued operations^4,5	26	130	25	(104)	1
Net income	$177	$423	$104	$(246)	$73

ROTCE	3.1%	10.3%	n/m
Core ROTCE⁶	7.1%	9.1%	1.8%
Adjusted Efficiency ratio⁶	50%	49%	73%
GAAP Earnings Per Common Share (diluted)⁷	$0.23	$0.74	$(0.78)	$(0.51)	$1.01
Adjusted Earnings/(Loss) Per Common Share⁷	$0.40	$0.53	$(0.14)	$(0.14)	$0.54

	2014	2013	Increase/ (Decrease)
Automotive Finance	$1,525	$1,271	$254
Insurance	197	256	(59)
Dealer Financial Services	$1,722	$1,527	$196
Mortgage	60	(46)	106
Corporate and Other (ex. OID)¹	(163)	(630)	467
Core pre-tax income, excluding repositioning items²	$1,619	$850	$769
Repositioning items³	(187)	(244)	(57)
Core pre-tax income²	$1,432	$606	$826
OID amortization expense	186	249	(63)
Income tax expense/(benefit)	321	(59)	380
Loss from discontinued operations^4,5	225	(55)	280
Net income	$1,150	$361	$789

ROTCE	6.5%	n/m
Core ROTCE⁶	7.9%	3.1%
Adjusted Efficiency ratio⁶	51%	67%
GAAP Earnings Per Common Share (diluted)⁷	$1.83	$(1.64)	$3.47
Adjusted Earnings Per Common Share⁷	$1.68	$(0.14)	$1.83

1. Corporate and Other primarily consists of Ally’s centralized treasury activities, the residual impacts of the company’s corporate funds transfer pricing and asset liability management activities, and the amortization of the discount associated with debt issuances and bond exchanges. Corporate and Other also includes the Corporate Finance business, certain investment portfolio activity and reclassifications, eliminations between the reportable operating segments, and certain unallocated expenses including overhead previously allocated to operations that have since been sold or discontinued.

2. Core pre-tax income, a non-GAAP financial measure, is defined as income from continuing operations before taxes and OID amortization expense primarily from bond exchanges and liability management actions (accelerated OID).

3. Repositioning items for 4Q14 are primarily related to the extinguishment of high-cost legacy debt. No repositioning items were incurred in 3Q14. Repositioning items for 4Q13 are primarily related to employee related costs associated with strategic actions of the company and the disposition of certain businesses. Refer to slides 27 and 28 of the Ally Financial Inc. 4Q Earnings Review presentation, which is available at www.ally.com/about/investor/events-presentations/ for a reconciliation to GAAP. This presentation will also be furnished on a Form 8-K with the U.S. Securities and Exchange Commission.

4. Disc ops activity reflects several actions including divestitures of international businesses and other mortgage related charges in addition to certain discrete tax items. Refer to slides 27 and 28 of the Ally Financial Inc. 4Q Earnings Review presentation, which is available at www.ally.com/about/investor/events-presentations/ for a reconciliation to GAAP. This presentation will also be furnished on a Form 8-K with the U.S. Securities and Exchange Commission.

5. The following businesses are classified as discontinued operations: the Brazilian automotive finance operations (sale completed 4Q13) and the remaining international automotive finance operations, including the joint venture in China (sale completed 1Q15).

6. See slide 29 in the Ally Financial Inc. 4Q Earnings Review presentation which is available at www.ally.com/about/investor/events-presentations/ for definitions and details. Calculations can be found on page 22 of the 4Q2014 Financial Supplement.

7. See slide 9 in the Ally Financial Inc. 4Q Earnings Review presentation which is available at www.ally.com/about/investor/events-presentations/ for details.

Return on Average Tangible Common Equity (ROTCE)

Ally continued to make progress on its three-point plan to increase shareholder value and improve the company’s return on average tangible common equity.

Net Interest Margin (NIM) Expansion: Throughout 2014, cost of funds improved 50 basis points for the full year, by increasing deposits, executing a liability management program to reduce high-cost legacy debt, and accessing the securitization markets. For the full year, net financing revenue, excluding OID, improved 17 percent, compared to 2013. Net interest margin, excluding OID, increased 33 basis points versus 2013.

Expense Reduction: Efforts to improve efficiency continued throughout the year. Total expenses declined nearly $500 million while controllable expenses came down approximately $200 million, compared to 2013. Ally’s adjusted efficiency ratio was 51 percent for the full year, compared to 67 percent in 2013.

Regulatory Normalization: Progress was made throughout the year, most notably with Ally’s full exit from TARP in December 2014. Ally also advanced its liability management initiative by utilizing capital generated through extinguishment of high-cost legacy debt. In the second quarter of 2014, Ally Corporate Finance was aligned under Ally Bank, allowing the business to access a more competitive source of funding. In addition, Ally Bank began paying a dividend to its parent, Ally Financial, during the year.

Liquidity and Capital

Highlights

Improved preliminary fourth quarter 2014 capital ratios year-over-year, with Tier 1 capital at 12.5 percent and Tier 1 Common capital at 9.6 percent.

Ally’s consolidated cash and cash equivalents were $5.6 billion as of Dec. 31, 2014, down slightly from $5.7 billion at Sept. 30, 2014. Included in this quarter’s balance are $2.2 billion at Ally Bank and $1.5 billion at the Insurance business.

Ally's total equity was $15.4 billion at Dec. 31, 2014, up from $15.2 billion at the end of the prior quarter. The company's preliminary fourth quarter 2014 Tier 1 capital ratio was 12.5 percent and Ally’s preliminary Tier 1 Common capital ratio was 9.6 percent, both down slightly due to a seasonal increase in assets which was partially offset by fourth quarter earnings. Ally’s estimated fully-phased-in Basel III Common Equity Tier 1 ratio was 9.7 percent for the quarter.

Ally continued to execute a diverse funding strategy during the fourth quarter of 2014 and throughout the year. This strategy included strong growth in deposits, which represent approximately 44 percent of Ally’s funding portfolio, and completion of new term U.S. auto securitizations, which totaled approximately $3.1 billion for the quarter and more than $14.2 billion for the year. The annual total includes two off-balance sheet securitizations of $2.6 billion, one of which was completed during the quarter for $1.0 billion. The company also issued more than $3.0 billion of unsecured debt during the year.

Ally Bank

Highlights

Retail deposits grew to $48.0 billion, up $4.8 billion or 11 percent year-over-year.

Approximately 69 percent of Ally's total assets were funded at Ally Bank at the close of the year.

Customer base grew 16 percent year-over-year to approximately 909,000 loyal, primary customers.

Deployed redesigned online banking platform in January offering simpler account management functionality and enhanced features.

Launched a new advertising campaign, “Facts of Life”, emphasizing “No Branches = Great Rates.”

For purposes of financial reporting, operating results for Ally Bank, the company's direct banking subsidiary, are included within Auto Finance, Mortgage and Corporate and Other, based on its underlying business activities.

Deposits

The company remains focused on growing quality deposits through Ally Bank, which continued to build its deposit base and maintained strong customer loyalty, attracting and retaining customers with its consumer-centric value proposition. Retail deposits at Ally Bank increased to $48.0 billion as of Dec. 31, 2014, compared to $46.7 billion at the end of the prior quarter. Year-over-year, retail deposits increased $4.8 billion, up 11 percent. Retail deposit growth continued to be driven largely by savings products, which now represent 50 percent of the retail portfolio. Brokered deposits at Ally Bank totaled approximately $9.9 billion as of Dec. 31, 2014, up slightly from the prior quarter. The Ally Bank franchise has continued strong expansion of its customer base to approximately 909,000 loyal, primary customer accounts, growing 16 percent year-over-year. Customer satisfaction scores remained above 90 percent throughout 2014 and ended the year at nearly 93 percent.

Automotive Finance

Highlights

Consumer auto financing originations totaled $9.0 billion for the quarter, up 10 percent year-over-year, and totaled $41 billion for the year, the highest level since 2007.

Strong progress in new and used originations from non-GM/Chrysler dealers, up 37 percent over prior year period.

Non-GM/Chrysler originations, excluding recreational vehicles, improved approximately 50 percent for the full year.

Grew to approximately 10,000 active non-GM/Chrysler dealer relationships at year-end.

Automotive earning assets increased $3.7 billion year-over-year.

Announced Ally will begin to offer its auto finance customers free access to their FICO ® Score at President Obama's consumer financial security event in January.

Improved mobile app with more account management and payment features and new "Click to Chat" tool.

Auto Finance reported pre-tax income of $310 million for the fourth quarter of 2014, compared to $207 million in the corresponding prior year period. Results for the quarter were primarily driven by improved non-interest expense, due to a non-recurrence of the charge taken in the prior year period related to the CFPB and DOJ settlement. Net financing revenue was down slightly due to expected lower net lease revenue, primarily as a result of lower lease gains. Earning asset growth remained solid across all products, despite continued intense competition. Additionally, provision expense increased in-line with expectations as a result of asset growth and a more diversified portfolio.

Total end-of-period earning assets for Auto Finance, comprised primarily of consumer and commercial receivables and leases, were $112 billion for the quarter. Consumer earning assets totaled $78 billion, up 5 percent year-over-year, due to continued strong origination volume. End-of-period commercial earning assets increased slightly to $34 billion, up $200 million compared to the prior year period, primarily as a result of growth in the dealer loan portfolio.

Consumer financing originations in the fourth quarter of 2014 were $9.0 billion, compared to $11.8 billion in the prior quarter and $8.2 billion in the corresponding prior year period. The originations were comprised of $3.9 billion of new retail, $2.7 billion of used retail and $2.4 billion of leases. Consumer financing origination levels in the fourth quarter of 2014 were driven by year-over-year growth in all channels, with solid expansion in the new and used retail channels, up 9 percent and 14 percent, respectively.

In January, GM announced to its dealers that it would begin to offer subvented leasing for Buick, GMC and Cadillac vehicles exclusively through its captive financing company. This is consistent with GM’s stated objective to grow the use of their captive. Ally continues to work with GM dealers on a broad range of products and services to support their business. Additionally, Ally has continued to broaden its business, with new and used volume from non-GM/Chrysler dealers increasing 37 percent from the prior year period and 45 percent for the full year, and now accounting for 22 percent of total consumer originations. Excluding originations from recreational vehicles, which are a specialized market and were relatively flat year-over-year, non-GM/Chrysler originations increased approximately 50 percent in the past year.

Insurance

Highlights

Improved written premiums, totaling $248 million in the quarter for the Dealer Products and Services group.

Previewed a flagship vehicle service contract, Ally Premier Protection, with a pilot beginning in March and full roll-out later this summer.

Insurance, which focuses on dealer-centric products such as extended vehicle service contracts (VSCs) and dealer inventory insurance, reported pre-tax income from continuing operations of $86 million in the fourth quarter of 2014, compared to pre-tax income of $67 million, excluding repositioning items in the corresponding prior year period. This was driven by improved underwriting income resulting in part from lower vehicle service contract claims. Total investment income remained strong at $44 million in the fourth quarter of 2014, compared to $37 million in the comparable prior year period, due to higher investment gains.

As part of its continued efforts to diversify, the company previewed its new, flagship vehicle service contract, Ally Premier Protection, in January. Ally Premier Protection will be available for new and used vehicles of virtually all makes and models later this year, and will offer benefit enhancements compared to existing vehicle service contracts offered by the company.

Mortgage

During the fourth quarter of 2014, Mortgage reported pre-tax income of $19 million, compared to a pre-tax loss of $8 million in the prior year period, excluding repositioning items. The mortgage held-for-investment portfolio is approximately $7.5 billion as of Dec. 31, 2014, down slightly from the prior quarter, as loans being moved to the held-for-sale portfolio were mostly offset by bulk loan purchases.

Corporate and Other

Corporate and Other primarily consists of Ally's centralized treasury activities, the residual impacts of the company's corporate funds transfer pricing, asset liability management activities, and the amortization of the discount associated with debt issuances and bond exchanges. Corporate and Other also includes the Corporate Finance business, certain investment portfolio activity and reclassifications, eliminations between the reportable operating segments, and overhead previously allocated to operations that have since been sold or discontinued.

Corporate and Other reported a core pre-tax loss (excluding core OID amortization expense and repositioning items) of $19 million, compared to a loss of $105 million in the comparable prior year period. Results were primarily affected by an improved cost of funds resulting from the company's liability management strategy. Ally’s efforts to streamline the business and reduce controllable expenses further contributed to improved results.

Core OID amortization expense totaled $42 million in the fourth quarter of 2014, compared to $67 million reported in the corresponding prior year period.

Additional Financial Information

For additional financial information, the fourth quarter 2014 earnings presentation and financial supplement are available in the Events & Presentations section of Ally’s Investor Relations Website at http://www.ally.com/about/investor/events-presentations/.

About Ally Financial Inc.

Ally Financial Inc. (NYSE: ALLY) is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full spectrum of financial products and services, including new and used vehicle inventory and consumer financing, leasing, vehicle service contracts, commercial loans and vehicle remarketing services, as well as a variety of insurance offerings, including inventory insurance, insurance consultative services for dealers and other ancillary products. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Corporate Finance unit provides financing to middle-market companies across a broad range of industries.

With approximately $151.8 billion in assets as of Dec. 31, 2014, Ally operates as a financial holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally.

Forward-Looking Statements

In this earnings release and in comments by Ally Financial Inc. ("Ally") management, the use of the words "expect," "anticipate," "estimate," "forecast," "initiative," "objective," "plan," "goal," "project," "outlook," "priorities," "target," "explore," "positions," "intend," "evaluate," "pursue," "seek," "may," "would," "could," "should," "believe," "potential," "continue," or the negative of any of those words or similar expressions is intended to identify forward-looking statements. All statements herein and in related charts and management comments, other than statements of historical fact, including without limitation, statements about future events and financial performance, are forward-looking statements that involve certain risks and uncertainties.

While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, these statements are not guarantees of any events or financial results, and Ally’s actual results may differ materially due to numerous important factors that are described in the most recent reports on SEC Forms 10-K and 10-Q for Ally, each of which may be revised or supplemented in subsequent reports filed with the SEC. Such factors include, among others, the following: maintaining the mutually beneficial relationship between Ally and General Motors (“GM”), and Ally and Chrysler Group LLC (“Chrysler”), and our ability to further diversify our business; our ability to maintain relationships with automotive dealers; the significant regulation and restrictions that we are subject to as a bank holding company and financial holding company; the potential for deterioration in the residual value of off-lease vehicles; disruptions in the market in which we fund our operations, with resulting negative impact on our liquidity; changes in our accounting assumptions that may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; changes in our credit ratings; changes in economic conditions, currency exchange rates or political stability in the markets in which we operate; and changes in the existing or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations (including as a result of the Dodd-Frank Act and Basel III).

Investors are cautioned not to place undue reliance on forward-looking statements. Ally undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other such factors that affect the subject of these statements, except where expressly required by law.

Contacts:

Gina Proia
646-781-2692
gina.proia@ally.com

Sarah Comstock

313-656-6954

sarah.n.comstock@ally.com

Exhibit 99.2

Ally Financial Inc. 4 Q Earnings Review Contact Ally Investor Relations at (866) 710 - 4623 or investor.relations@ally.com January 29, 2015

2 4Q 2014 Preliminary Results Forward - Looking Statements and Additional Information The following should be read in conjunction with the financial statements, notes and other information contained in the Compa ny’ s 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 data available at the time of the presentation In the presentation that follows and related comments by Ally Financial Inc. (“Ally”) management, the use of the words “expec t,” “anticipate,” “estimate,” “forecast,” “initiative,” “objective,” “plan,” “goal,” “project,” “outlook,” “priorities,” “target,” “explore,” “ pos itions,” “intend,” “evaluate,” “pursue,” “seek,” “may,” “would, ” “could, ” “should, ” “believe, ” “potential, ” “continue,” or the negative of these words, or similar expressions is intended to identify forward - looking statements. All statements herein and in related management comments, other than statements of historical fact, including without limitation, statements about future events and financial performance, are forward - looking statements tha t involve certain risks and uncertainties. While these statements represent our current judgment on what the future may hold, and we believe th ese judgments are reasonable, these statements are not guarantees of any events or financial results, and Ally’s actual results may differ mate ria lly due to numerous important factors that are described in the most recent reports on SEC Forms 10 - K and 10 - Q for Ally, each of which may be revise d or supplemented in subsequent reports filed with the SEC. Such factors include, among others, the following: maintaining the mut ual ly beneficial relationship between Ally and General Motors (“GM”), and Ally and Chrysler Group LLC (“Chrysler ”) and our ability to further diversify our business; our ability to maintain relationships with automotive dealers; the significant regulation and restrictions that we are subject to as a bank holding company and financial holding company; the potential for deterioration in the residual value of off - lease vehicles; disruptions in the market in which we fund our operations, with resulting negative impact on our liquidity; changes in our accounting assumptions that may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; changes in our credit ratings; changes in economic conditions, currency exchange rates or political stability in the markets in which we operate; and changes in the ex isting or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations (including as a result of the Dodd - Frank Act and Basel III). Investors are cautioned not to place undue reliance on forward - looking statements. Ally undertakes no obligation to update publi cly or otherwise revise any forward - looking statements, whether as a result of new information, future events or other such factors that affect t he subject of these statements, except where expressly required by law. Reconciliation of non - GAAP financial measures included within this presentat ion are provided in this presentation. Use of the term “loans” describes products associated with direct and indirect lending activities of Ally’s operations. The s pec ific products include retail installment sales contracts, lines of credit, leases or other financing products. The term “originate” refers to Ally’ s p urchase, acquisition or direct origination of various “loan” products.

3 4Q 2014 Preliminary Results 2014 Highlights x Significantly improved shareholder returns in 2014 – Core pre - tax income ex. repositioning items (1) of $1.6 billion vs. $850 million in 2013 – Core ROTCE (2) of 7.9% vs. 3.1% in 2013 ▪ Continue to target 9 - 11% run - rate Core ROTCE by year - end 2015 – Adjusted EPS (3) of $1.68 vs. $(0.14) in 2013 – Tangible Book Value increased over $3 per share during 2014 pro forma for China sale x Strong operating metrics – Total auto originations of $41 billion, with non GM/Chrysler (“Growth Channel”) increasing by 45% in 2014 – Annual retail deposit growth of $4.8 billion with balances up 11% x Fully exited TARP – U.S. Treasury received $2.4 billion more than initially invested Full TARP Exit with Focus on Future (1) Represents a non - GAAP financial measure. As presented excludes OID amortization expense, income tax expense and discontinued operations. See slide 28 for details (2) Represents a non - GAAP financial measure. Core ROTCE adjusts for certain items such as net DTA and OID. See slide 29 for details (3) See slide 9 for details

4 4Q 2014 Preliminary Results Competitive Evolution • In 2009, Ally embarked on a multi - year process to transition itself from a captive to a full line, dealer - centric, diversified auto financial services company – Expected manufacturer incentive business to decline as exclusive contracts stepped down and captives expanded products 2009 2015 Competitive Evolution Ally Evolution

5 4Q 2014 Preliminary Results (Decisioned applications in millions) 3.7 5.6 6.7 7.8 9.1 13,694 14,307 15,732 16,034 16,823 2010 2011 2012 2013 2014 Decisioned Applications Total Dealer Relationships ($ billions) $4.7 $9.0 $9.6 $9.9 $11.7 2010 2011 2012 2013 2014 Successful Transformation of Business Non GM/Chrysler Channel Originations Non GM/Chrysler Channel Mix Decisioned Apps and Dealer Relationships Used Originations % of New and Used by Nameplate Ford / Lincoln 22% Nissan / Infiniti 10% Maserati 9% GM 9% Toyota / Lexus 8% Kia 7% Hyundai 6% Chrysler 6% Honda / Acura 5% Other 18% Includes new and used consumer originations from non GM/Chrysler dealers for 4Q14 ($ billions) $1.2 $3.6 $4.9 $5.7 $8.3 2010 2011 2012 2013 2014

6 4Q 2014 Preliminary Results Product 2014 Ally Originations GMC/Buick/Cadillac Lease $5.2 Chevrolet Lease 4.1 GM Subvented Loan 4.0 Excludes GM and Chrysler Lender Market Share 1. Captives 28% 2. Wells Fargo 8% 3. Capital One 8% 4. Chase 4% 5. Ally 4% Estimated Growth Channel Market: $250 billion Estimated 2014 Non Subvented Market Share (New and Used) GM Subvented Products ($B) Impact of GM Decision to Internalize Leasing • GM announced certain leases to be done exclusively through GM Financial – Results in lower residual value exposure as lease portfolio declines – Opportunity to redeploy capital allocated to GM residual risk • Expect growth in other channels to offset lease decline over time – Continue momentum in Used and Growth channel – Leverage strong existing relationships and Ally Dealer Rewards – Continue to introduce innovative products and provide best - in - class service – Over 6,500 active Ally dealers where we buy less than 5 contracts per month • Expect minimal 2015 financial impact – Continue to target 9 - 11% run - rate Core ROTCE by end of 2015 • Continue to target high $30s billion auto originations • Ally has high return alternatives for excess capital, including addressing costly capital structure A 1% move in growth channel market share could result in ~$2.5 billion of incremental originations per year See slide 29 for details

7 4Q 2014 Preliminary Results 2014 Progress on Path to Double - Digit Core ROTCE 3.1% ~330 bps ~240 bps 7.9% • Net financing revenue (2) up 17% YoY • Full - year cost of funds (2) down 50bps YoY • Total expenses down $0.5 billion and controllable down $0.2 billion vs. FY13 • Adjusted Efficiency ratio of 51%, down from 67% in 2013 • Corporate Finance assets in Ally Bank • Dividend from Ally Bank to parent • Began capital utilization through liability management • Lower Other R evenue from mortgage business exit 2013 Core ROTCE (1) NIM Expansion Expense Rationalization Regulatory Normalization Other 2014 Core ROTCE (1) ~10 bps ~(80) bps (1) Represents a non - GAAP financial measure. Core ROTCE adjusts for certain items such as net DTA and OID. See slide 29 for details (2) Excludes OID

8 4Q 2014 Preliminary Results ($ million) $792 $1,070 $850 $1,619 2011 2012 2013 2014 3.1% 2.9% 2.5% 2.0% 2011 2012 2013 2014 ($ million) $2,036 $2,227 $3,028 $3,547 2011 2012 2013 2014 Financial Metrics Net Financing Revenue (2) Noninterest Expense (3) Core Pre - tax Income (ex repositioning) (1) Cost of Funds (2) (1) Represents a non - GAAP financial measure. As presented excludes OID amortization expense, income tax expense and discontinued operations. See slide 28 for details (2) Excludes OID (2) Excludes OID ( 3) See slide 28 for details ($ million) $2,178 $2,299 $2,116 $1,893 $1,250 $1,324 $1,289 $1,055 $3,428 $3,623 $3,405 $2,948 2011 2012 2013 2014 Controllable Expenses Other Noninterest Expense

9 4Q 2014 Preliminary Results ($ millions except per share data) 4Q 14 3Q 14 4Q 13 FY 2014 FY 2013 Net financing revenue (1) 835$ 936$ 841$ 3,547$ 3,028$ Total other revenue (1) 370 375 324 1,438 1,605 Provision for loan losses 155 102 140 457 501 Total noninterest expense 653 742 865 2,909 3,282 Core pre-tax income, ex. repositioning (2) 396$ 467$ 161$ 1,619$ 850$ Net income 177$ 423$ 104$ 1,150$ 361$ GAAP EPS (diluted) 0.23$ 0.74$ (0.78)$ 1.83$ (1.64)$ Discontinued operations, net of tax (0.05) (0.27) (0.06) (0.47) 0.13 OID expense, net of tax 0.06 0.06 0.10 0.25 0.39 One time items / repositioning (3) 0.17 - 0.59 0.07 0.97 Adjusted EPS 0.40$ 0.53$ (0.14)$ 1.68$ (0.14)$ ROTCE (4) 3.1% 10.3% n/m 6.5% n/m Core ROTCE (4) 7.1% 9.1% 1.8% 7.9% 3.1% Adjusted Efficiency Ratio (4) 50% 49% 73% 51% 67% Tier 1 Common Ratio (5) 9.6% 9.7% 8.8% 9.6% 8.8% Fourth Quarter and Full Year Financial Results (1) Excludes OID. FY 2014 total other revenue excludes $14 million of accelerated OID expense associated with debt redemption (2) As presented excludes the impact of repositioning items, OID amortization expense, income tax expense and discontinued operation s. See slides 27 and 28 for details (3) Repositioning items for 4Q14 are primarily related to the extinguishment of high - cost legacy debt and a discrete tax item. See slide 29 for additional details (4) Represents a non - GAAP financial measure. See slide 29 for details (5) Tier 1 Common is a non - GAAP financial measure. See page 16 of the Financial Supplement for details

10 4Q 2014 Preliminary Results Pre-Tax Income ($ millions) 4Q 14 3Q 14 4Q 13 Automotive Finance 310$ (105)$ 103$ Insurance 86 26 20 Dealer Financial Services 396$ (79)$ 123$ Mortgage 19 22 27 Corporate and Other (1) (19) (13) 86 Core pre-tax income, ex. repositioning (2) 396$ (70)$ 236$ Increase/(Decrease) vs. Results by Segment (1) Results exclude the impact of repositioning items and OID amortization expense. See slide 27 for details (2) Core pre - tax income is a non - GAAP financial measure and as presented excludes the impact of repositioning items, OID amortizatio n expense, income tax expense and discontinued operations. See slide 27 for details • Auto Finance results higher YoY driven by asset growth and CFPB charge in 2013, partially offset by lower net lease revenue – QoQ decline driven by lower net lease revenue and seasonally higher provision expense • Insurance favorability driven primarily by lower expenses YoY and lower insurance losses QoQ • Mortgage results driven by reserve release and lower noninterest expense • Corporate and Other results largely driven by improving cost of funds and expense reductions

11 4Q 2014 Preliminary Results Net Interest Margin • Net Interest Margin (1) down 4 bps YoY and 30 bps QoQ – Full - year 2014 NIM of 2.54% up 33 bps vs. 2013 – 4Q cost of funds (1) down 31 bps YoY and relatively flat QoQ ▪ Reduction of legacy high - cost debt and continued deposit growth – Earning asset yields down primarily as a result of lower lease yields Note: Continuing operations only (1) Excludes OID Ally Financial - Net Interest Margin $138 $139 $141 4.41% 4.43% 4.15% 2.39% 2.65% 2.35% 2.21% 1.88% 1.90% 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 Average Earning Assets ($B) Earning Asset Yield NIM (ex. OID) Cost of Funds (ex. OID)

12 4Q 2014 Preliminary Results Ally Bank Deposit Levels ($ billions) $43.2 $45.2 $45.9 $46.7 $48.0 $52.8 $54.9 $55.6 $56.4 $57.8 $9.7 $9.7 $9.7 $9.7 $9.9 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 Ally Bank Retail Ally Bank Brokered Ally Bank Deposit Franchise • Continued franchise momentum with $48 billion of retail deposits • $1.2 billion of retail deposit growth QoQ , and $4.8 billion YoY – Growth continues to be driven largely by savings products, which now represent 50% of the retail portfolio • Expansion of loyal customer base with over 900 thousand primary customers, up 16% YoY • Targeting similar deposit growth levels in 2015 • Continuing to build on strong franchise and brand – Launched redesigned Ally online banking platform in January – Launched new “Facts of Life” advertising campaign Stable, consistent growth of retail deposits Deposit Mix Ally Bank Deposit Composition and Average Retail Portfolio Interest Rate 18% 18% 17% 17% 17% 45% 43% 42% 41% 40% 37% 39% 40% 41% 43% 1.21% 1.19% 1.17% 1.16% 1.16% 4Q13 1Q14 2Q14 3Q14 4Q14 Brokered Retail CD MMA/OSA/Checking Average Retail Portfolio Interest Rate

13 4Q 2014 Preliminary Results Capital • Tier 1 Common capital relatively flat in the quarter as net income available to common was offset by seasonal risk - weighted asset growth in the commercial auto portfolio • Tier 1 Common ratio of 9.6%, up 80 bps YoY and down 5 bps QoQ – 4Q14 Tier 1 Common ratio of 10.2% pro forma for China sale – Estimated fully phased - in Basel III Common Equity Tier 1 ratio of 9.7% • Submitted 2015 CCAR capital plan in January with planned capital actions Tier 1 Common is a non - GAAP financial measure. See page 16 of the Financial Supplement for details Ally Financial Capital $129 $128 $129 $128 $131 12.8% 13.0% 13.2% 13.5% 13.2% 11.8% 12.1% 12.3% 12.7% 12.5% 8.8% 9.1% 9.4% 9.7% 9.6% 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 Risk-Weighted Assets ($B) Total Capital Ratio Tier 1 Ratio Tier 1 Common Ratio

14 4Q 2014 Preliminary Results $0 $2 $0 $1 $0 ($0) 0.00% 0.03% 0.00% 0.01% 0.00% 0.00% 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 Net Charge-Offs ($M) Annualized NCO Rate (30+ DPD) $1,188 $1,325 $904 $1,174 $1,338 $1,543 2.10% 2.35% 1.59% 2.02% 2.28% 2.73% 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 Delinquent Contracts ($M) Delinquency Rate 238% 234% 224% 344% 187% 144% 0.53% 0.53% 0.53% 0.34% 0.60% 0.68% 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 ALLL as % of Annualized NCOs Annualized NCO Rate $1,113 $1,171 $1,192 $1,208 $1,198 $977 ALLL Balance ($M) $115 $114 $121 $83 $137 $160 0.82% 0.80% 0.85% 0.58% 0.93% 1.10% 0.98% 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 Net Charge-Offs ($M) Annualized NCO Rate Consolidated Net Charge - Offs U.S. Commercial Auto Net Charge - Offs Asset Quality U.S. Retail Auto Net Charge - Offs U.S. Retail Auto Delinquencies Note: Above loans are classified as held - for - investment and recorded at historical cost. See slide 29 for details Note: Includes accruing contracts only Note: 4Q13 charge - off decline driven by non - recurring recognition of additional recoveries. Impact on net charge - off rate reflected in chart

15 4Q 2014 Preliminary Results Key Financials ($ millions) 4Q 14 3Q 14 4Q 13 Net financing revenue 767$ (83)$ (42)$ Total other revenue 69 - 8 Total net revenue 836 (83) (34) Provision for loan losses 175 66 31 Noninterest expense 351 (44) (168) Pre-tax income from continuing ops 310$ (105)$ 103$ U.S. auto earning assets 111,581$ 2,090$ 3,682$ Net lease revenue Operating lease revenue 905$ 6$ 50$ Depreciation expense 684 30 55 Remarketing gains 50 (55) (33) Total depreciation expense 633 84 87 Net lease revenue 272$ (78)$ (37)$ 4Q 14 3Q 14 4Q 13 Net lease yield 5.5% 7.3% 7.0% Increase/(Decrease) vs. • Auto Finance reported pre - tax income of $310 million in 4Q, up $103 million YoY and down $105 million from the prior quarter – Net financing revenue lower YoY and QoQ driven primarily by lower net lease revenue – Provision up YoY driven by asset growth and mix normalization and up QoQ driven by seasonally higher charge - offs – YoY noninterest expense favorability driven by $98 million CFPB/DOJ charge taken in 4Q13 • Earning assets up 3 % YoY despite two off - balance sheet full securitizations in 2014 • $9.0 billion of originations in 4 Q , up $0.8 billion YoY and down $2.8 billion QoQ – O riginations higher in every product YoY with exception of subvented loans – Originations down QoQ due to seasonality and outsized GM subvented originations that did not repeat – Growth channel originations up 37% vs. 4Q13 and now represent 22% of total consumer originations Auto Finance – Results U.S. Auto Earning Assets (EOP - $ billions) 2010 2011 2012 2013 2014 Retail Lease Commercial $84.8 $100.1 $107.9 $68.8 $111.6

16 4Q 2014 Preliminary Results (EOP $ billions) $78.2 $77.7 $77.8 $79.2 $81.3 $81.3 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 On Balance Sheet Sold ($ billions) $28.1 $31.6 $32.6 $32.9 $31.4 $33.2 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 ($ billions; % of $ originations) 69% 66% 66% 63% 63% 60% 15% 16% 15% 17% 16% 18% 16% 18% 19% 20% 20% 22% $9.6 $8.2 $9.2 $10.9 $11.8 $9.0 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 GM Chrysler Growth Auto Finance – Key Metrics See slide 29 for definitions Consumer Serviced Assets Commercial Assets Consumer Originations Origination Mix Note: Asset balances reflect the average daily balance for the quarter (% of $ originations) 10% 15% 5% 27% 24% 30% 7% 8% 8% 28% 26% 27% 29% 27% 30% 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 New Subvented New Standard New Growth Lease Used

17 4Q 2014 Preliminary Results Key Financials ($ millions) 4Q 14 3Q 14 4Q 13 Insurance premiums, service revenue earned and other 245$ (5)$ (2)$ Insurance losses and loss adjustment expenses 57 (40) (2) Acquisition and underwriting expenses (1) 146 - (12) Total underwriting income 42 35 12 Investment income and other 44 (9) 7 Pre-tax income from continuing ops (1) 86$ 26$ 20$ Total assets 7,190$ 12$ 66$ Key Statistics 4Q 14 3Q 14 4Q 13 Insurance ratios Loss ratio 23% 39% 24% Underwriting expense ratio 60% 59% 64% Combined ratio 83% 98% 88% Increase/(Decrease) vs. Dealer Products & Services Written Premiums ($ millions) $236 $233 $276 $267 $225 $244 $267 $265 $248 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 Insurance • Pre - tax income of $86 million, up $20 million YoY and up $26 million from the prior quarter – YoY improvement driven partially by lower losses on vehicle service contracts – Seasonal decrease in weather - related losses QoQ • Written premiums of $248 million, up YoY driven primarily by higher new and used vehicle service contracts – Typical seasonal decline QoQ due to lower auto sales Note: Excludes Canadian Personal Lines business, which is in runoff Note: Excludes the benefit of weather - related loss reinsurance and Canadian Personal Lines losses (1) Excludes repositioning items in 4Q13. See slide 27 for details Insurance Losses ($ millions) $56 $52 $49 $51 $47 $42 $27 $3 $7 $124 $36 $5 $98 $67 $69 $190 $97 $60 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 VSC Losses Weather Losses Other Losses

18 4Q 2014 Preliminary Results Key Financials ($ millions) 4Q14 3Q14 4Q13 Net financing revenue (ex. OID) 51$ (10)$ 46$ Total other revenue (ex. OID) 19 (0) 31 Provision for loan losses (6) (6) (3) Noninterest expense 94 9 (6) Core pre-tax loss (1) (19)$ (13)$ 86$ OID amortization expense (2) 42 (4) (25) Pre-tax loss from continuing ops (1) (61)$ (9)$ 111$ Total assets 23,566$ (112)$ (2,997)$ Increase/(Decrease) vs. Key Financials ($ millions) 4Q 14 3Q 14 4Q 13 Net financing revenue 8$ (1)$ (6)$ Total other revenue 2 2 (3) Total net revenue 10 1 (9) Provision for loan losses (14) (7) (13) Noninterest expense 5 (14) (23) Pre-tax income from continuing ops (1) 19$ 22$ 27$ Total assets 7,884$ 482$ (284)$ Ally Bank HFI Portfolio 4Q 14 3Q 14 4Q 13 Net Carry Value ($ billions) 7.3$ 7.3$ 8.0$ Ongoing (post 1/1/2009) 47% 39% 39% Legacy (pre 1/1/2009) 53% 61% 61% % Interest Only 12.5% 13.4% 13.8% % 30+ Delinquent (2) 3.0% 3.8% 2.8% Net Charge-off Rate 0.6% 0.6% 0.8% Wtd. Avg. LTV/CLTV (3) 71.5% 73.1% 79.1% Refreshed FICO 734 726 728 Increase/(Decrease) vs. Mortgage and Corporate and Other (1) Excludes repositioning items in 4Q14 and 4Q13. See slide 27 for details (2) 3Q14 delinquency rates temporarily impacted by sub - servicing transfer (3) Updated home values derived using a combination of appraisals, BPOs, AVMs and MSA level house price indices Mortgage Results (1) Excludes repositioning items in prior periods. See slide 27 for details (2) Primarily bond exchange OID amortization expense used for calculating core pre - tax income Corporate and Other Results

19 4Q 2014 Preliminary Results Conclusion • Strong operating performance – Solid financial performance in auto as growth channel traction accelerated in 2014 – Stable retail deposit growth with balances up 11 % YoY • Focused on achieving financial targets by year - end 2015 – 9 - 11 % Core ROTCE – Mid 40% Adjusted Efficiency Ratio • TARP exit is a positive – Easing regulatory constraints driving third leg of ROE improvement plan ▪ Business mix at Ally Bank, deposit pricing and capital redistribution – Clears the path to explore future franchise opportunities Emerging from 2014 as a stronger company ready to play more offense

Supplemental Charts

21 4Q 2014 Preliminary Results ($ millions) 4Q 14 3Q 14 4Q 13 FY 2014 FY 2013 Net financing revenue (1) 835$ 936$ 841$ 3,547$ 3,028$ Total other revenue (1) 370 375 324 1,438 1,605 Provision for loan losses 155 102 140 457 501 Controllable expenses (2) 478 469 506 1,891 2,046 Other noninterest expenses 176 273 358 1,018 1,235 Core pre-tax income, ex. repositioning (3) 396$ 467$ 161$ 1,619$ 850$ Repositioning items (4) (167) - (18) (187) (244) Core pre-tax income 229$ 467$ 142$ 1,432$ 606$ OID amortization expense (5) 42 47 67 186 249 Income tax expense 36 127 (4) 321 (59) Income (loss) from discontinued operations 26 130 25 225 (55) Net income 177$ 423$ 104$ 1,150$ 361$ Fourth Quarter and Full Year Financial Results (1) Excludes OID. FY 2014 total other revenue excludes $14 million of accelerated OID expense associated with debt redemption (2) Excludes repositioning expenses. See slides 27 and 28 for details (3) Core pre - tax income as presented excludes the impact of repositioning items, OID amortization expense, income tax expense and di scontinued operations. See slides 27 and 28 for details (4) See slides 27 and 28 for details (5) FY 2014 includes $14 million of accelerated OID associated with debt redemption Supplemental

22 4Q 2014 Preliminary Results ($ billions) 65% 66% 68% 68% 69% $151.2 $148.5 $149.9 $149.2 $151.8 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 Ally Bank Assets Non-Bank Assets 4Q 2014 ($ in millions) Average Outstanding Balance (1) Quarterly Interest Expense Annualized Cost of Funds LT Unsecured Debt 24,602$ 329$ 5.31% Secured Debt 41,311 121 1.16% Other Borrowings (2) 9,595 17 0.70% Deposits 57,400 169 1.17% Total / Weighted Average 132,908$ 636$ 1.90% ($ billions) $1.7 $2.0 $2.8 $0.0 $0.0 $1.9 $4.4 $1.3 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 2016 2017 2018 Matured Remaining • Diversified funding strategy with opportunities to lower cost of funds – 69% of total assets reside at Ally Bank – Deposits now represent 44% of Ally’s funding • Efficient capital markets funding in 2014 – Completed over $14 billion of term securitizations at the parent and Ally Bank across loan, lease and floorplan asset classes ▪ Includes $2.6 billion of off - balance sheet securitizations – Over $3 billion of unsecured issuance Funding As of 12/31/14. Total maturities for 2019 and beyond equal $10.9 billion and do not exceed $4 billion in any given year. Prior periods do not include early debt redemptions Total Asset Breakdown Unsecured Long - Term Debt Maturities Supplemental Liability and Cost of Funds Detail (1) Excludes OID (2) Includes Demand Notes, FHLB, and Repurchase Agreements

23 4Q 2014 Preliminary Results Expenses • Controllable expenses down $29 million in 4Q YoY • Other noninterest expense down YoY driven partially by CFPB / DOJ charge – QoQ driven partially by seasonally lower weather - related insurance losses (1) Includes lease and loan administration expenses and vehicle remarketing and repossession expenses (2) Includes occupancy and premises and equipment depreciation (3) See slide 27 for details Supplemental ($ millions) 4Q 14 3Q 14 4Q 13 3Q 14 4Q 13 Compensation and benefits 237$ 241$ 237$ (3)$ 0$ Technology and communications 79 77 95 2 (16) Professional services 26 21 36 6 (10) Servicing expenses (1) 52 54 49 (2) 3 Advertising and marketing 30 27 40 3 (10) Other controllable expenses (2) 52 50 49 3 3 Controllable Expense 478$ 469$ 506$ 8$ (29)$ Other Noninterest Expense 176$ 273$ 358$ (97)$ (183)$ Total Noninterest Expense (ex. repositioning) 653$ 742$ 865$ (90)$ (212)$ Repositioning expenses (3) 19 - 19 19 (0) Total Noninterest Expense 672$ 742$ 884$ (70)$ (212)$ Increase/(Decrease) vs.

24 4Q 2014 Preliminary Results Liquidity Supplemental (1) Parent company liquidity is defined as our consolidated operations less Ally Bank and the regulated subsidiaries of Ally Insu ran ce’s holding company (2) May include the restricted cash accumulation for retained notes maturating within the following thirty days and returned to A lly on the distribution date (3) Includes UST, Agency debt and Agency MBS (4) To optimize the use of cash and secured facility capacity between entities, Ally Financial lends cash to Ally Bank from time to time under an intercompany loan agreement. Amounts outstanding on this loan are repayable to Ally Financial at any time, subject to 5 days notice • Consolidated available liquidity of $16.6 billion – $8.8 billion at the parent and $7.8 billion at Ally Bank Available Liquidity 12/31/2014 9/30/2014 12/31/2013 ($ billions) Parent (1) Ally Bank Parent (1) Ally Bank Parent (1) Ally Bank Cash and Cash Equivalents (2) 2.7$ 2.3$ 2.9$ 2.2$ 3.3$ 2.3$ Highly Liquid Securities (3) 2.1 5.8 2.7 6.1 2.9 3.9 Current Committed Unused Capacity 3.4 0.3 4.5 0.5 6.5 0.3 Subtotal 8.2$ 8.4$ 10.1$ 8.8$ 12.7$ 6.5$ Ally Bank Intercompany Loan (4) 0.6 (0.6) 1.3 (1.3) 0.6 (0.6) SubtotalTotal Current Available Liquidity 8.8$ 7.8$ 11.4$ 7.5$ 13.3$ 5.9$

25 4Q 2014 Preliminary Results Impact of Discontinued Operations ($ millions) 4Q 14 3Q 14 4Q 13 Auto Finance 23$ (6)$ 172$ Insurance 0 (6) (0) Corporate and Other 6 (10) (75) Consolidated pre-tax income 29$ (22)$ 97$ Tax expense 2 80 95 Consolidated net income 26$ (104)$ 1$ Increase/(Decrease) vs. Discontinued Operations Supplemental • Closed China joint - venture sale in January 2015, generating a gain of approximately $0.4 billion Discontinued operations activity reflects several actions including divestitures of international businesses and other mortgage related charges in addition to certain discrete tax items

26 4Q 2014 Preliminary Results Deferred Tax Asset 3Q14 (1) ($ millions) Gross DTA/(DTL) Balance Valuation Allowance Net DTA/(DTL) Balance Net DTA/(DTL) Balance Net Operating Loss (Federal) 1,001$ -$ 1,001$ 798$ Capital Loss (Federal) 157 135 22 - Tax Credit Carryforwards 1,911 478 1,433 1,419 State/Local Tax Carryforwards 258 115 143 141 Other Deferred Tax Assets/(Liabilities) (2) (786) 6 (792) (571) Net Deferred Tax Assets 2,541$ 734$ 1,807$ 1,788$ 4Q14 Deferred Tax Asset Supplemental (1) U.S. GAAP does not prescribe a method for calculating individual elements of deferred taxes for interim periods. Therefore, these ba lances are estimated (2) Primarily book / tax timing differences • DTA utilization resulted in approximately $8 million of cash taxes paid in 2014

27 4Q 2014 Preliminary Results Notes on non - GAAP and other financial measures Supplemental (1) Represents core pre - tax income excluding repositioning items. See slide 29 for definitions $ in millions GAAP OID & Repositioning Items Non-GAAP (1) GAAP OID & Repositioning Items Non-GAAP (1) GAAP OID & Repositioning Items Non-GAAP (1) Consolidated Ally Net financing revenue 799$ 36$ 835$ 889$ 47$ 936$ 774$ 67$ 841$ Total other revenue 215 155 370 375 - 375 325 (1) 324 Provision for loan losses 155 - 155 102 - 102 140 - 140 Controllable expenses 479 (1) 478 469 - 469 526 (19) 506 Other noninterest expenses 193 (18) 176 273 - 273 358 - 358 Pre-tax income from continuing ops 187$ 209$ 396$ 420$ 47$ 467$ 75$ 86$ 161$ Mortgage Operations Net financing revenue 8$ -$ 8$ 9$ -$ 9$ 14$ -$ 14$ Gain on sale of mortgage loans, net - - - - - - 3 - 3 Other revenue (loss) (excluding gain on sale) 4 (2) 2 - - - 3 (1) 2 Total net revenue 12 (2) 10 9 - 9 20 (1) 19 Provision for loan losses (14) - (14) (7) - (7) (1) - (1) Noninterest expense 5 - 5 19 - 19 28 - 28 Pre-tax income (loss) from continuing ops 21$ (2)$ 19$ (3)$ -$ (3)$ (7)$ (1)$ (8)$ Insurance Operations Net financing revenue 9$ -$ 9$ 16$ -$ 16$ 14$ -$ 14$ Other revenue 280 - 280 287 - 287 270 - 270 Total net revenue 289 - 289 303 - 303 284 - 284 Noninterest expense 203 - 203 243 - 243 219 (2) 218 Pre-tax income (loss) from continuing ops 86$ -$ 86$ 60$ -$ 60$ 65$ 2$ 67$ Corporate / Other (incl. CF) Net financing revenue (loss) 15$ 36$ 51$ 14$ 47$ 61$ (63)$ 67$ 4$ Total other revenue (loss) (138) 157 19 19 - 19 (12) - (12) Provision for loan losses (6) - (6) - - - (3) - (3) Noninterest expense 113 (19) 94 85 - 85 118 (18) 100 Pre-tax income (loss) from continuing ops (230)$ 211$ (19)$ (52)$ 47$ (5)$ (190)$ 85$ (105)$ 4Q 14 3Q 14 4Q 13

28 4Q 2014 Preliminary Results Notes on non - GAAP and other financial measures Core pre - tax income (loss) and controllable expenses are non - GAAP financial measures. See slide 29 for definitions Supplemental $ in millions GAAP OID & Repositioning Items Non-GAAP (1) GAAP OID & Repositioning Items Non-GAAP (1) Consolidated Ally Net financing revenue 3,375$ 172$ 3,547$ 2,779$ 249$ 3,028$ Total other revenue 1,276 162 1,438 1,484 121 1,605 Provision for loan losses 457 - 457 501 - 501 Controllable expenses 1,893 (2) 1,891 2,116 (70) 2,046 Other noninterest expenses 1,055 (37) 1,018 1,289 (53) 1,235 Pre-tax income from continuing ops 1,246$ 373$ 1,619$ 357$ 493$ 850$ Mortgage Operations Net financing revenue 43$ -$ 43$ 76$ -$ 76$ Gain on sale of mortgage loans, net 6 - 6 55 - 55 Other revenue (loss) (excluding gain on sale) 11 (2) 9 (55) 124 69 Total net revenue 60 (2) 58 76 124 200 Provision for loan losses (69) - (69) 13 - 13 Noninterest expense 67 0 67 321 (88) 233 Pre-tax income (loss) from continuing ops 62$ (2)$ 60$ (258)$ 212$ (46)$ Insurance Operations Net financing revenue 56$ -$ 56$ 57$ -$ 57$ Other revenue 1,129 - 1,129 1,196 - 1,196 Total net revenue 1,185 - 1,185 1,253 - 1,253 Noninterest expense 988 - 988 999 (2) 998 Pre-tax income from continuing ops 197$ -$ 197$ 254$ 2$ 256$ Corporate / Other (incl. CF) Net financing (loss) (45)$ 172$ 127$ (513)$ 249$ (264)$ Total other revenue (loss) (134) 164 30 20 (3) 17 Provision for loan losses (16) - (16) (6) - (6) Noninterest expense 375 (39) 336 423 (34) 389 Pre-tax income (loss) from continuing ops (538)$ 375$ (163)$ (910)$ 280$ (630)$ FY 14 FY 13

29 4Q 2014 Preliminary Results Notes on non - GAAP and other financial measures Supplemental 1) Core pre - tax income (loss) is a non - GAAP financial measure. It is defined as income (loss) from continuing operations before income tax expense and primarily bond exchange original issue discount ("OID") amortization expense . 2) Repositioning items for 4 Q14 are primarily related to the extinguishment of high - cost legacy debt. 3) Repositioning items for 4 Q13 are primarily related to employee related costs associated with strategic actions of the company and the disposition of certain businesses 4) ROTCE is equal to GAAP Net I ncome A vailable to Common S hareholders divided by a two period average of Tangible C ommon Equity. See pages 4 and 16 in the Financial Supplement for more detail. 5) Core ROTCE is equal to Operating Net Income Available to Common divided by Normalized Common Equity. See page 22 in the Financial Supplement for full calculation . A. Operating Net Income Available to Common is calculated as (a) Pre - Tax Income from Continuing Operations minus (b) Income Tax Expense using a normalized 34% rate plus (c) expense associated with original issue bond discount amortization minus (d) preferred dividends associated with our Series A and Series G preferred stock plus (e) impact of any disclosed repositioning items . B. Normalized Common Equity is calculated as the two period average of (a) shareholder equity minus (b) the book value of preferred stock outstanding minus (c) goodwill and other intangibles minus (d) remaining original issue bond discount minus (e) remaining net deferred tax asset. 6) Adjusted Efficiency ratio is equal to (A) total noninterest expense less ( i ) Insurance operating segment related expenses, (ii) mortgage repurchase expense and (iii) expense related to repositioning items divided by ( B) total net revenue less ( i ) Insurance operating segment related revenue, (ii) OID amortization expense and (iii) any revenue related to repositioning items . See page 22 in the Financial Supplement for full calculation. 7) Corporate and Other primarily consists of Ally’s centralized treasury activities, the residual impacts of the company’s corporate funds transfer pri cing and asset liability management activities, and the amortization of the discount associated with debt issuances and bond exchanges . C orporate and Other also includes the Ally Corporate Finance business, certain equity investments and reclassifications, eliminations between the repo rta ble operating segments, and overhead previously allocated to operations that have since been sold or discontinued. 8) Controllable expenses include employee related costs, consulting and legal fees, marketing, information technology, facility, portfolio servicing a nd restructuring expenses. 9) U.S. consumer auto originations ▪ New Subvented – subvented rate new vehicle loans from GM and Chrysler dealers ▪ New Standard – standard rate new vehicle loans from GM and Chrysler dealers ▪ Lease – new vehicle lease originations from all dealers ▪ Used – used vehicle loans from all dealers ▪ Growth – total originations from non - GM/Chrysler dealers (New Growth refers to new vehicle loan originations only) 10) Net charge - off ratios are calculated as annualized net charge - offs divided by average outstanding finance receivables and loans excluding loans measur ed at fair value and loans held - for - sale . 11) Estimated 2014 Non Subvented Market Share percentages shown are intended to represent estimated market share for new and used non - subvented loans, excluding GM and Chrysler. Various assumptions and estimates were used by Ally in determining these amounts.

Exhibit 99.3

FOURTH QUARTER 2014

FINANCIAL SUPPLEMENT

ALLY FINANCIAL INC.

FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION

The following should be read in conjunction with the financial statements, notes and other information contained in the Company’s 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 data available at the time of the presentation

In the presentation that follows and related comments by Ally Financial Inc. (“Ally”) management, the use of the words “expect,” “anticipate,” “estimate,” “forecast,” “initiative,” “objective,” “plan,” “goal,” “project,” “outlook,” “priorities,” “target,” “explore,” “positions,” “intend,” “evaluate,” “pursue,” “seek,” “may,” “would, ” “could, ” “should, ” “believe, ” “potential, ” “continue,” or the negative of these words, or similar expressions is intended to identify forward-looking statements. All statements herein and in related management comments, other than statements of historical fact, including without limitation, statements about future events and financial performance, are forward-looking statements that involve certain risks and uncertainties. While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, these statements are not guarantees of any events or financial results, and Ally’s actual results may differ materially due to numerous important factors that are described in the most recent reports on SEC Forms 10-K and 10-Q for Ally, each of which may be revised or supplemented in subsequent reports filed with the SEC. Such factors include, among others, the following: maintaining the mutually beneficial relationship between Ally and General Motors (“GM”), and Ally and Chrysler Group LLC (“Chrysler”), and our ability to further diversify our business; our ability to maintain relationships with automotive dealers; the significant regulation and restrictions that we are subject to as a bank holding company and financial holding company; the potential for deterioration in the residual value of off-lease vehicles; disruptions in the market in which we fund our operations, with resulting negative impact on our liquidity; changes in our accounting assumptions that may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; changes in our credit ratings; changes in economic conditions, currency exchange rates or political stability in the markets in which we operate; and changes in the existing or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations (including as a result of the Dodd-Frank Act and Basel III).

Use of the term “loans” describes products associated with direct and indirect lending activities of Ally’s operations. The specific products include retail installment sales contracts, lines of credit, leases or other financing products. The term “originate” refers to Ally’s purchase, acquisition or direct origination of various “loan” products.

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

TABLE OF CONTENTS

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

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

Credit Related Information		14-15

Supplemental Detail
Capital		16
Liquidity		17
Deposits		18
Ally Bank Consumer Mortgage HFI Portfolio		19
Discontinued Operations		20
Per Share-Related Information		21
Supplemental Financial Data		22

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS

($ in millions, shares in thousands)
	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
Selected Income Statement Data	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Net financing revenue (ex. OID)	$	835		$	936		$	912		$	865		$	841		$	(101	)	$	(7	)	$	3,547		$	3,028		$	519
Total other revenue (ex. OID)		221			375			372			321			325			(154	)		(104	)		1,290			1,484			(194	)
Total net revenue (ex. OID)		1,056			1,311			1,284			1,186			1,166			(255	)		(110	)		4,837			4,512			325
Provision for loan losses		155			102			63			137			140			53			15			457			501			(44	)
Controllable expenses ⁽¹⁾		479			469			455			490			526			10			(47	)		1,893			2,116			(223	)
Other noninterest expenses		193			273			366			223			358			(80	)		(165	)		1,055			1,289			(234	)
Core pre-tax income ⁽²⁾	$	229		$	467		$	400		$	336		$	142		$	(238	)	$	87		$	1,432		$	606		$	826
Core OID amortization expense⁽³⁾		42			47			53			44			67			(4	)		(25	)		186			249			(63	)
Income tax (benefit) expense		36			127			64			94			(4	)		(91	)		40			321			(59	)		380
Income (loss) from discontinued operations		26			130			40			29			25			(104	)		1			225			(55	)		280
Net income	$	177		$	423		$	323		$	227		$	104		$	(246	)	$	73		$	1,150		$	361		$	789
Preferred stock dividends		68			67			65			68			448			1			(380	)		268			1,049			(781	)
Net income (loss) available to common shareholders	$	109		$	356		$	258		$	159		$	(344	)	$	(247	)	$	453		$	882		$	(688	)	$	1,570

Selected Balance Sheet Data (Period-End)
Total assets	$	151,828		$	149,195		$	149,937		$	148,452		$	151,167		$	2,633		$	661
Consumer loans		64,044			66,270			65,961			64,913			64,861			(2,226	)		(817	)
Commercial loans		35,904			33,248			34,817			34,711			35,467			2,656			437
Assets of discontinued operations held-for-sale		634			603			574			541			516			31			118
Allowance for loan losses		(977	)		(1,113	)		(1,171	)		(1,192	)		(1,208	)		136			231
Deposits		58,222			56,851			56,091			55,367			53,350			1,371			4,872
Common equity ⁽⁴⁾		14,144			13,935			13,623			13,204			12,953			209			1,191
Total equity		15,399			15,190			14,878			14,459			14,208			209			1,191

Common Share Count
Weighted average basic ⁽⁵⁾		481,861			481,611			481,350			479,768			442,863			250			38,998			481,155			420,166			60,989
Weighted average diluted ⁽⁵⁾⁽⁶⁾		483,091			482,506			482,343			479,768			442,863			585			40,228			481,934			420,166			61,768
Issued shares outstanding (period-end)		480,095			479,818			479,773			479,768			479,768			277			327

Per Common Share Data
Earnings per share (basic) ⁽⁵⁾	$	0.23		$	0.74		$	0.54		$	0.33		$	(0.78	)	$	(0.51	)	$	1.01		$	1.83		$	(1.64	)	$	3.47
Earnings per share (diluted) ⁽⁵⁾⁽⁶⁾		0.23			0.74			0.54			0.33			(0.78	)		(0.51	)		1.00			1.83			(1.64	)		3.47
Adjusted earnings per share		0.40			0.53			0.42			0.34			(0.14	)		(0.14	)		0.54			1.68			(0.14	)		1.82
Book value per share		29.46			29.04			28.39			27.52			27.00			0.42			2.46			29.46			27.00			2.46
Tangible book value per share		29.40			28.99			28.34			27.46			26.94			0.42			2.46			29.40			26.94			2.46

Select Financial Ratios
Net interest margin ⁽⁷⁾		2.4	%		2.7	%		2.6	%		2.5	%		2.4	%								2.5	%		2.2	%
Adjusted efficiency ratio ⁽⁸⁾		50	%		49	%		49	%		55	%		73	%								51	%		67	%
Return on average assets ⁽⁹⁾		0.5	%		1.1	%		0.9	%		0.6	%		0.3	%								0.8	%		0.2	%
Return on average total equity ⁽⁹⁾		4.6	%		11.2	%		8.8	%		6.4	%		2.5	%								7.8	%		1.9	%
Return on average tangible common equity ⁽⁹⁾		3.1	%		10.3	%		7.7	%		4.9	%		n/m									6.5	%		n/m
Core ROTCE ⁽⁸⁾⁽⁹⁾		7.1	%		9.1	%		8.4	%		6.5	%		1.8	%								7.9	%		3.1	%

Capital Ratios
Tier 1 capital ratio		12.5	%		12.7	%		12.3	%		12.1	%		11.8	%
Tier 1 common capital ratio⁽¹⁰⁾		9.6	%		9.7	%		9.4	%		9.1	%		8.8	%
Total risk-based capital ratio		13.2	%		13.5	%		13.2	%		13.0	%		12.8	%

(1) Includes employee related costs, consulting and legal fees, marketing, information technology, facility, portfolio servicing and restructuring expenses

(2) Core pre-tax income (loss) is a non-GAAP financial measure. It is defined as income from continuing operations before income tax expense and primarily bond exchange original issue discount ("OID") amortization expense

(3) Core Original Issuance Discount (OID) is primarily related to bond exchange OID; excludes IO and post 2009 issuances.

(4) Includes common stock and paid-in capital, accumulated deficit and accumulated other comprehensive income

(5) Includes shares related to share-based compensation that have vested but not yet been issued as of December 31, September 30 and June 30, 2014

(6) The effects of converting the outstanding Fixed Rate Cumulative Mandatorily Convertible Preferred Stock into common shares are not included in the diluted earnings per share calculation for the three months ended December 31 2013, as the effects would be antidilutive for that period. As such, 89 million of potential common shares were excluded from the diluted earnings per share calculation for the three months ended December 31 2013

(7) Continuing operations only. Excludes OID amortization expense

(8) For more details refer to page 22

(9) Return metrics are annualized

(10) Tier 1 common capital ratio is a non-GAAP measurement. Refer to page 16 for additional details

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

CONSOLIDATED INCOME STATEMENT

($ in millions)
	QUARTERLY TRENDS														CHANGE VS.						FULL YEAR
	4Q 14			3Q 14		2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Financing revenue and other interest income
Interest and fees on finance receivables and loans ⁽¹⁾	$	1,112		$	1,114	$	1,124		$	1,107		$	1,136		$	(2	)	$	(24	)	$	4,457		$	4,529		$	(72	)
Interest on loans held-for-sale		-			-		1			-			1			-			(1	)		1			20			(19	)
Interest and dividends on available-for-sale investment securities		85			94		93			95			96			(9	)		(11	)		367			325			42
Interest-bearing cash		2			2		1			3			2			-			-			8			10			(2	)
Operating leases		905			899		884			870			855			6			50			3,558			3,209			349
Total financing revenue and other interest income		2,104			2,109		2,103			2,075			2,090			(5	)		14			8,391			8,093			298
Interest expense
Interest on deposits		169			166		166			163			165			3			4			664			654			10
Interest on short-term borrowings		12			12		13			15			16			-			(4	)		52			63			(11	)
Interest on long-term debt		491			493		549			534			589			(2	)		(98	)		2,067			2,602			(535	)
Total interest expense		672			671		728			712			770			1			(98	)		2,783			3,319			(536	)
Depreciation expense on operating lease assets		633			549		509			542			546			84			87			2,233			1,995			238
Net financing revenue		799			889		866			821			774			(90	)		25			3,375			2,779			596
Other revenue
Servicing fees		9			6		7			9			12			3			(3	)		31			126			(95	)
Servicing asset valuation and hedge activities, net		-			-		-			-			-			-			-			-			(213	)		213
Total servicing income, net		9			6		7			9			12			3			(3	)		31			(87	)		118
Insurance premiums and service revenue earned		243			246		249			241			244			(3	)		(1	)		979			1,012			(33	)
Gain on mortgage and automotive loans, net		1			-		6			-			3			1			(2	)		7			55			(48	)
Loss on extinguishment of debt		(156	)		-		(7	)		(39	)		(17	)		(156	)		(139	)		(202	)		(59	)		(143	)
Other gain on investments, net		52			45		41			43			24			7			28			181			180			1
Other income, net of losses		66			78		69			67			59			(12	)		7			280			383			(103	)
Total other revenue		215			375		365			321			325			(160	)		(110	)		1,276			1,484			(208	)
Total net revenue		1,014			1,264		1,231			1,142			1,099			(250	)		(85	)		4,651			4,263			388
Provision for loan losses		155			102		63			137			140			53			15			457			501			(44	)
Noninterest expense
Compensation and benefits expense		237			241		215			254			237			(4	)		-			947			1,019			(72	)
Insurance losses and loss adjustment expenses		57			97		188			68			59			(40	)		(2	)		410			405			5
Other operating expenses		378			404		418			391			588			(26	)		(210	)		1,591			1,981			(390	)
Total noninterest expense		672			742		821			713			884			(70	)		(212	)		2,948			3,405			(457	)
Income (loss) from continuing operations before income tax expense		187			420		347			292			75			(233	)		112			1,246			357			889
Income tax (benefit) expense from continuing operations		36			127		64			94			(4	)		(91	)		40			321			(59	)		380
Net income from continuing operations		151			293		283			198			79			(142	)		72			925			416			509
Income (loss) from discontinued operations, net of tax		26			130		40			29			25			(104	)		1			225			(55	)		280
Net income (loss)	$	177		$	423	$	323		$	227		$	104		$	(246	)	$	73		$	1,150		$	361		$	789

(1) Includes other interest income, net

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

CONSOLIDATED PERIOD-END BALANCE SHEET

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
	12/31/2014			9/30/2014			6/30/2014			3/31/2014			12/31/2013			9/30/2014			12/31/2013
Assets
Cash and cash equivalents
Noninterest-bearing	$	1,348		$	1,318		$	1,373		$	1,342		$	1,315		$	30		$	33
Interest-bearing		4,228			4,381			4,404			4,551			4,216			(153	)		12
Total cash and cash equivalents		5,576			5,699			5,777			5,893			5,531			(123	)		45
Investment securities		16,137			16,714			16,748			16,327			17,083			(577	)		(946	)
Loans held-for-sale, net		2,003			3			3			43			35			2,000			1,968
Finance receivables and loans, net
Finance receivables and loans, net		99,948			99,518			100,778			99,624			100,328			430			(380	)
Allowance for loan losses		(977	)		(1,113	)		(1,171	)		(1,192	)		(1,208	)		136			231
Total finance receivables and loans, net		98,971			98,405			99,607			98,432			99,120			566			(149	)
Investment in operating leases, net		19,510			19,341			18,814			18,187			17,680			169			1,830
Premiums receivables and other insurance assets		1,695			1,678			1,656			1,639			1,613			17			82
Other assets		7,302			6,752			6,758			7,390			9,589			550			(2,287	)
Assets of operations held-for-sale		634			603			574			541			516			31			118
Total assets	$	151,828		$	149,195		$	149,937		$	148,452		$	151,167		$	2,633		$	661

Liabilities
Deposit liabilities
Noninterest-bearing	$	64		$	73		$	75		$	71		$	60		$	(9	)	$	4
Interest-bearing		58,158			56,778			56,016			55,296			53,290			1,380			4,868
Total deposit liabilities		58,222			56,851			56,091			55,367			53,350			1,371			4,872
Short-term borrowings		7,062			5,255			6,369			5,163			8,545			1,807			(1,483	)
Long-term debt		66,558			67,299			67,913			68,295			69,465			(741	)		(2,907	)
Interest payable		477			542			528			893			888			(65	)		(411	)
Unearned insurance premiums and service revenue		2,375			2,369			2,349			2,312			2,314			6			61
Accrued expense and other liabilities		1,735			1,689			1,809			1,963			2,397			46			(662	)
Total liabilities	$	136,429		$	134,005		$	135,059		$	133,993		$	136,959		$	2,424		$	(530	)

Equity
Common stock and paid-in capital	$	21,038		$	21,022		$	21,011		$	20,939		$	20,939		$	16		$	99
Preferred stock		1,255			1,255			1,255			1,255			1,255			-			-
Accumulated deficit		(6,828	)		(6,937	)		(7,293	)		(7,551	)		(7,710	)		109			882
Accumulated other comprehensive (loss) income		(66	)		(150	)		(95	)		(184	)		(276	)		84			210
Total equity		15,399			15,190			14,878			14,459			14,208			209			1,191
Total liabilities and equity	$	151,828		$	149,195		$	149,937		$	148,452		$	151,167		$	2,633		$	661

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	12/31/2014			9/30/2014			6/30/2014			3/31/2014			12/31/2013			9/30/2014			12/31/2013			2014			2013			CHANGE
Assets
Interest-bearing cash and cash equivalents	$	4,293		$	3,867		$	3,863		$	5,304		$	5,908		$	426		$	(1,615	)	$	4,328		$	6,412		$	(2,084	)
Investment securities		15,439			16,182			15,578			15,714			16,522			(743	)		(1,083	)		15,729			15,195			534
Loans held-for-sale, net		25			3			26			11			39			22			(14	)		16			600			(584	)
Total finance receivables and loans, net ⁽²⁾		101,272			100,089			100,159			99,048			98,253			1,183			3,019			100,148			97,467			2,681
Investment in operating leases, net		19,479			19,114			18,544			17,998			17,514			365			1,965			18,789			16,028			2,761
Total interest earning assets		140,508			139,255			138,170			138,075			138,236			1,253			2,272			139,010			135,702			3,308
Noninterest-bearing cash and cash equivalents		1,757			1,688			1,550			1,441			1,319			69			438			1,610			1,628			(18	)
Other assets ⁽³⁾		10,078			10,323			11,306			11,888			11,268			(245	)		(1,190	)		10,892			20,298			(9,406	)
Allowance for loan losses		(1,113	)		(1,174	)		(1,201	)		(1,206	)		(1,205	)		61			92			(1,173	)		(1,192	)		19
Total assets	$	151,230		$	150,092		$	149,825		$	150,198		$	149,618		$	1,138		$	1,612		$	150,339		$	156,436		$	(6,097	)

Liabilities
Interest-bearing deposit liabilities	$	57,332		$	56,301		$	55,556		$	54,203		$	52,298		$	1,031		$	5,034		$	55,858		$	50,188		$	5,670
Short-term borrowings		6,258			6,187			6,149			6,643			6,268			71			(10	)		6,308			4,858			1,450
Long-term debt ⁽⁴⁾		67,884			67,687			67,727			69,030			65,983			197			1,901			68,078			66,634			1,444
Total interest-bearing liabilities ⁽⁴⁾		131,474			130,175			129,432			129,876			124,549			1,299			6,925			130,244			121,680			8,564
Noninterest-bearing deposit liabilities		68			75			70			66			66			(7	)		2			69			536			(467	)
Other liabilities ⁽³⁾		4,432			4,856			5,661			5,933			8,351			(424	)		(3,919	)		5,231			15,448			(10,217	)
Total liabilities	$	135,974		$	135,106		$	135,163		$	135,875		$	132,966		$	868		$	3,008		$	135,544		$	137,664		$	(2,120	)

Equity
Total equity	$	15,256		$	14,986		$	14,662		$	14,323		$	16,652		$	270		$	(1,396	)	$	14,795		$	18,772		$	(3,977	)
Total liabilities and equity	$	151,230		$	150,092		$	149,825		$	150,198		$	149,618		$	1,138		$	1,612		$	150,339		$	156,436		$	(6,097	)

(1) Average balances are calculated using a combination of monthly and daily average methodologies

(2) Nonperforming finance receivables and loans are included in the average balances net of unearned income, unamortized premiums and discounts, and deferred fees and costs

(3) Assets and liabilities of discontinued operations are classified as other assets and other liabilities, respectively, in all periods

(4) QTD: Average balance includes $1,366 million and $1,566 million related to original issue discount at December 2014 and December 2013, respectively

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

SEGMENT HIGHLIGHTS

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Automotive Finance	$	310		$	415		$	461		$	339		$	207		$	(105	)	$	103		$	1,525		$	1,271		$	254
Insurance		86			60			(23	)		74			65			26			21			197			254			(57	)
Dealer Financial Services		396			475			438			413			272			(79	)		124			1,722			1,525			197
Mortgage		21			(3	)		27			17			(7	)		24			28			62			(258	)		320
Corporate and Other (ex. OID) ⁽¹⁾		(188	)		(5	)		(65	)		(94	)		(123	)		(183	)		(65	)		(352	)		(661	)		309
Core pre-tax income (loss) ⁽²⁾	$	229		$	467		$	400		$	336		$	142		$	(238	)	$	87		$	1,432		$	606		$	826
Core OID amortization expense ⁽³⁾		42			47			53			44			67			(5	)		(25	)		186			249			(63	)
Income tax expense (benefit)		36			127			64			94			(4	)		(91	)		40			321			(59	)		380
Income (loss) from discontinued operations		26			130			40			29			25			(104	)		1			225			(55	)		280
Net income (loss)	$	177		$	423		$	323		$	227		$	104		$	(246	)	$	73		$	1,150		$	361		$	789

(1) Corporate and Other primarily consists of Ally’s centralized treasury activities, the residual impacts of the company’s corporate funds transfer pricing and asset liability management activities, and the amortization of the discount associated with debt issuances and bond exchanges. Corporate and Other also includes the Ally Corporate Finance business, certain equity investments and reclassifications, eliminations between the reportable operating segments, and overhead previously allocated to operations that have since been sold or discontinued

(2) Core pre-tax income (loss) is a non-GAAP financial measure. It is defined as income from continuing operations before income tax expense and primarily bond exchange OID amortization expense

(3) Includes accelerated OID expense of $6 million in 4Q14 and $7 million in 2Q14 due to debt redemption

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
Income Statement	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Net financing revenue
Consumer	$	770		$	774		$	763		$	739		$	762		$	(4	)	$	8		$	3,046		$	3,004		$	42
Commercial		252			246			262			264			266			6			(14	)		1,024			1,061			(37	)
Operating leases		905			899			884			870			855			6			50			3,558			3,209			349
Other interest income		2			3			2			3			4			(1	)		(2	)		10			22			(12	)
Total financing revenue and other interest income		1,929			1,922			1,911			1,876			1,887			7			42			7,638			7,296			342
Interest expense		529			523			518			514			532			6			(3	)		2,084			2,142			(58	)
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		683			654			677			651			629			29			54			2,666			2,327			339
Remarketing gains		(50	)		(105	)		(168	)		(109	)		(83	)		55			33			(433	)		(332	)		(101	)
Total depreciation expense on operating lease assets		633			549			509			542			546			84			87			2,233			1,995			238
Net financing revenue		767			850			884			820			809			(83	)		(42	)		3,321			3,159			162
Other revenue
Servicing fees		9			6			7			9			10			3			(1	)		31			58			(27	)
Gain on automotive loans, net		4			6			-			-			-			(2	)		4			10			-			10
Other income		56			57			55			55			51			(1	)		5			223			210			13
Total other revenue		69			69			62			64			61			-			8			264			268			(4	)
Total net revenue		836			919			946			884			870			(83	)		(34	)		3,585			3,427			158
Provision for loan losses		175			109			99			159			144			66			31			542			494			48
Noninterest expense
Compensation and benefits		113			112			106			123			123			1			(10	)		454			450			4
Other operating expenses		238			283			280			263			396			(45	)		(158	)		1,064			1,212			(148	)
Total noninterest expense		351			395			386			386			519			(44	)		(168	)		1,518			1,662			(144	)
Income before income tax expense	$	310		$	415		$	461		$	339		$	207		$	(105	)	$	103		$	1,525		$	1,271		$	254

Memo: Net lease revenue
Operating lease revenue	$	905		$	899		$	884		$	870		$	855		$	6		$	50		$	3,558		$	3,209		$	349
Depreciation expense on operating lease assets (ex. remarketing)		683			654			677			651			629			29			54			2,666			2,327			339
Remarketing gains		(50	)		(105	)		(168	)		(109	)		(83	)		55			33			(433	)		(332	)		(101	)
Total depreciation expense on operating lease assets		633			549			509			542			546			84			87			2,233			1,995			238
Net lease revenue	$	272		$	350		$	375		$	328		$	309		$	(78	)	$	(37	)	$	1,325		$	1,214		$	111

Balance Sheet (Period-End)
Cash, trading and investment securities	$	32		$	34		$	34		$	35		$	36		$	(2	)	$	(4	)
Loans held-for-sale		1,515			-			-			-			-			1,515			1,515
Finance receivables and loans, net:
Consumer loans		56,535			58,659			58,084			56,763			56,416			(2,124	)		119
Commercial loans ⁽¹⁾		34,039			31,510			33,070			33,013			33,888			2,529			151
Allowance for loan losses		(783	)		(783	)		(822	)		(809	)		(769	)		-			(14	)
Total finance receivables and loans, net		89,791			89,386			90,332			88,967			89,535			405			256
Investment in operating leases, net		19,510			19,341			18,814			18,187			17,680			169			1,830
Other assets		1,706			1,573			1,580			1,577			1,545			133			161
Assets of operations held-for-sale		634			603			574			541			516			31			118
Total assets	$	113,188		$	110,937		$	111,334		$	109,307		$	109,312		$	2,251		$	3,876

(1) Includes intercompany

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - KEY STATISTICS

	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
U.S. Market	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Light vehicle sales (SAAR - units in millions)		16.7			16.7			16.5			15.6			15.6			0.0			1.1			16.4			15.5			0.9
Light vehicle sales (quarterly - units in millions)		4.1			4.2			4.4			3.7			3.8			(0.2	)		0.3			16.4			15.5			0.9
GM market share		17.9	%		17.7	%		18.3	%		17.4	%		17.6	%								17.9	%		17.9	%
Chrysler market share		13.1	%		12.6	%		12.4	%		12.8	%		11.7	%								12.7	%		11.6	%

U.S. Consumer Originations ⁽¹⁾ ($ in billions)
GM new retail subvented	$	0.5		$	1.8		$	0.9		$	0.9		$	0.8		$	(1.3	)	$	(0.4	)	$	4.0		$	4.4		$	(0.4	)
GM new retail standard		1.9			1.9			1.9			1.5			1.5			(0.0	)		0.4			7.3			6.3			1.0
Chrysler new retail subvented		0.0			0.0			-			-			0.0			(0.0	)		0.0			0.0			0.4			(0.4	)
Chrysler new retail standard		0.8			1.0			1.0			0.7			0.7			(0.1	)		0.2			3.6			3.5			0.1
New growth		0.7			0.9			0.8			0.6			0.5			(0.2	)		0.2			3.1			2.3			0.8
Lease		2.4			3.0			3.2			2.7			2.3			(0.6	)		0.2			11.3			10.6			0.7
Used		2.7			3.2			3.1			2.8			2.3			(0.5	)		0.3			11.7			9.9			1.8
Total originations	$	9.0		$	11.8		$	10.9		$	9.2		$	8.2		$	(2.8	)	$	0.8		$	41.0		$	37.3		$	3.6

U.S. Consumer Penetration
GM		22.9	%		30.9	%		28.5	%		27.7	%		26.5	%								27.6	%		28.7	%
Chrysler		10.6	%		11.3	%		10.9	%		8.3	%		10.1	%								10.3	%		14.4	%

U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings, net	$	29.7		$	27.3		$	29.0		$	29.1		$	30.1		$	2.4		$	(0.4	)
Other dealer loans		4.3			4.2			4.0			3.8			3.7			0.2			0.6
Total Commercial outstandings	$	34.0		$	31.5		$	33.0		$	33.0		$	33.8		$	2.5		$	0.2

U.S. Floorplan Penetration ⁽²⁾
GM penetration		63.8	%		63.4	%		64.7	%		64.1	%		64.9	%								63.8	%		66.6	%
Chrysler penetration		44.1	%		43.8	%		44.8	%		46.4	%		46.8	%								44.8	%		50.4	%

U.S. Off-Lease Remarketing
Off-lease vehicles terminated - On-balance sheet (# in units)		70,969			79,280			85,143			61,001			45,693			(8,311	)		25,276			296,393			148,587			147,806
Average gain per vehicle	$	705		$	1,327		$	1,978		$	1,791		$	1,811		$	(622	)	$	(1,106	)	$	1,461		$	2,237		$	(776	)
Total gains ($ in millions)	$	50		$	105		$	168		$	109		$	83		$	(55	)	$	(33	)	$	433		$	332		$	101

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

(2) Penetration rates are based on the trailing four month average for the quarter

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

INSURANCE - CONDENSED FINANCIAL STATEMENTS AND KEY STATISTICS

($ in millions)
	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
Income Statement	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Insurance premiums and other income
Insurance premiums and service revenue earned	$	243		$	246		$	249		$	241		$	244		$	(3	)	$	(1	)	$	979		$	1,012		$	(33	)
Investment income		44			53			54			43			37			(9	)		7			194			227			(33	)
Other income		2			4			3			3			3			(2	)		(1	)		12			14			(2	)
Total insurance premiums and other income		289			303			306			287			284			(14	)		5			1,185			1,253			(68	)
Expense
Insurance losses and loss adjustment expenses		57			97			188			68			59			(40	)		(2	)		410			405			5
Acquisition and underwriting expenses
Compensation and benefit expense		17			15			15			16			16			2			1			63			62			1
Insurance commission expense		95			95			94			89			92			(0	)		3			374			370			4
Other expense		34			36			32			40			52			(2	)		(18	)		141			162			(21	)
Total acquisition and underwriting expense		146			146			141			145			160			-			(14	)		578			594			(16	)
Total expense		203			243			329			213			219			(40	)		(16	)		988			999			(11	)
Income from cont. ops before income tax expense	$	86		$	60		$	(23	)	$	74		$	65		$	26		$	21		$	197		$	254		$	(57	)

Balance Sheet (Period-End)
Cash, trading and investment securities	$	5,313		$	5,296		$	5,368		$	5,314		$	5,295		$	17		$	18
Premiums receivable and other insurance assets		1,706			1,688			1,666			1,650			1,624			18			82
Other assets		171			194			198			220			205			(23	)		(34	)
Total assets	$	7,190		$	7,178		$	7,232		$	7,184		$	7,124		$	12		$	66

Key Statistics (Continuing Operations)
Written Premiums
Dealer Products & Services ⁽¹⁾	$	248		$	265		$	267		$	244		$	225		$	(17	)	$	23		$	1,023		$	1,000		$	23
Corporate		0			0			0			-			0			(0	)		(0	)		0			(3	)		3
Total written premiums and revenue ⁽¹⁾	$	248		$	265		$	267		$	244		$	225		$	(17	)	$	23		$	1,023		$	997		$	26

Loss ratio		23.1	%		39.3	%		75.1	%		27.9	%		23.7	%								41.6	%		39.7	%
Underwriting expense ratio		59.9	%		59.1	%		55.7	%		60.0	%		65.3	%								58.6	%		58.3	%
Combined ratio		83.0	%		98.4	%		130.9	%		87.9	%		89.0	%								100.2	%		98.0	%

(1) Excludes Canadian Personal Lines business, which is in runoff

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

MORTGAGE - CONDENSED FINANCIAL STATEMENTS AND KEY STATISTICS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
Income Statement	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Net financing revenue
Total financing revenue and other interest income	$	65		$	68		$	73		$	76		$	80		$	(3	)	$	(15	)	$	282		$	378		$	(96	)
Interest expense		57			59			61			62			66			(2	)		(9	)		239			302			(63	)
Net financing revenue		8			9			12			14			14			(1	)		(6	)		43			76			(33	)
Servicing fees		-			-			-			-			2			-			(2	)		-			68			(68	)
Servicing asset valuation and hedge activities, net		-			-			-			-			-			-			-			-			(213	)		213
Total servicing income, net		-			-			-			-			2			-			(2	)		-			(145	)		145
Gain on mortgage loans, net		-			-			6			-			3			-			(3	)		6			55			(49	)
Other income, net of losses		4			-			3			4			1			4			3			11			90			(79	)
Total other revenue		4			-			9			4			6			4			(2	)		17			-			17
Total net revenue		12			9			21			18			20			3			(8	)		60			76			(16	)
Provision for loan losses		(14	)		(7	)		(25	)		(23	)		(1	)		(7	)		(13	)		(69	)		13			(82	)
Noninterest expense
Compensation and benefits expense		2			3			2			4			4			(1	)		(2	)		11			39			(28	)
Representation and warranty expense		(11	)		-			-			1			1			(11	)		(12	)		(10	)		104			(114	)
Other operating expense		14			16			17			19			23			(2	)		(9	)		66			178			(112	)
Total noninterest expense		5			19			19			24			28			(14	)		(23	)		67			321			(254	)
Income (loss) from cont. ops before income tax expense	$	21		$	(3	)	$	27		$	17		$	(7	)	$	24		$	28		$	62		$	(258	)	$	320

Balance Sheet (Period-End)
Loans held-for-sale	$	452		$	3		$	3		$	43		$	16		$	449		$	436
Finance receivables and loans, net:
Consumer loans		7,474			7,595			7,847			8,138			8,444			(121	)		(970	)
Allowance for loan losses		(152	)		(283	)		(302	)		(333	)		(389	)		131			237
Total finance receivables and loans, net		7,322			7,312			7,545			7,805			8,055			10			(733	)
Other assets ⁽¹⁾		110			87			92			89			97			23			13
Total assets	$	7,884		$	7,402		$	7,640		$	7,937		$	8,168		$	482		$	(284	)

(1) Includes derivative assets which are reflected on a gross basis on the balance sheet, assets of discontinued operations held-for-sale and other assets

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
Income Statement	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Net financing revenue
Total financing revenue and other interest income	$	88		$	89		$	90		$	94		$	95		$	(1	)	$	(7	)	$	361		$	298		$	63
Interest expense
Core original issue discount amortization ⁽¹⁾		36			47			46			44			67			(11	)		(31	)		172			249			(77	)
Other interest expense		37			28			90			78			91			9			(53	)		234			562			(328	)
Total interest expense		73			75			136			122			158			(2	)		(85	)		406			811			(405	)
Net financing revenue		15			14			(46	)		(28	)		(63	)		1			78			(45	)		(513	)		468
Other revenue
Loss on extinguishment of debt		(156	)		-			(7	)		(39	)		(17	)		(156	)		(139	)		(202	)		(59	)		(143	)
Other gain on investments, net		16			6			2			14			-			10			16			38			3			35
Other income, net of losses⁽²⁾		2			13			9			6			5			(11	)		(3	)		30			76			(46	)
Total other (loss) revenue		(138	)		19			4			(19	)		(12	)		(157	)		(126	)		(134	)		20			(154	)
Total net revenue		(123	)		33			(42	)		(47	)		(75	)		(156	)		(48	)		(179	)		(493	)		314
Provision for loan losses		(6	)		-			(11	)		1			(3	)		(6	)		(3	)		(16	)		(6	)		(10	)
Noninterest expense
Compensation and benefits expense		105			111			92			111			94			(6	)		11			419			468			(49	)
Other operating expense ⁽³⁾		8			(26	)		(5	)		(21	)		24			34			(16	)		(44	)		(45	)		1
Total noninterest expense		113			85			87			90			118			28			(5	)		375			423			(48	)
Loss from cont. ops before income tax expense	$	(230	)	$	(52	)	$	(118	)	$	(138	)	$	(190	)	$	(178	)	$	(40	)	$	(538	)	$	(910	)	$	372


Balance Sheet (Period-End)
Cash, trading and investment securities	$	16,368		$	17,083		$	17,123		$	16,871		$	17,283		$	(715	)	$	(915	)
Loans held-for-sale		36			-			-			-			19			36			17
Finance receivables and loans, net
Consumer loans		35			16			30			12			1			19			34
Commercial loans ⁽⁴⁾		1,865			1,738			1,747			1,698			1,579			127			286
Allowance for loan losses		(42	)		(47	)		(47	)		(50	)		(50	)		5			8
Total finance receivables and loans, net		1,858			1,707			1,730			1,660			1,530			151			328
Other assets		5,304			4,888			4,878			5,493			7,731			416			(2,427	)
Assets of operations held-for-sale		-			-			-			-			-			-			-
Total assets	$	23,566		$	23,678		$	23,731		$	24,024		$	26,563		$	(112	)	$	(2,997	)

OID Amortization Schedule⁽⁵⁾				2015			2016			2017 and After
Remaining Core OID Amortization (as of 12/31/2014)				$	45		$	55		Avg = $52/yr

(1) Does not include accelerated OID expense of $6 million in 4Q14 and $7 million in 2Q14, which is reflected in other revenue

(2) Includes gain/(loss) on mortgage and automotive loans

(3) Other operating expenses includes (i) certain unallocated expenses primarily associated with operations that have been sold or discontinued and (ii) corporate overhead allocated to the other business segments. Amounts of corporate overhead allocated were $167 million for 4Q14, $172 million in 3Q14, $161 million for 2Q14, $185 million for 1Q14, and $187 million for 4Q13. The receiving business segment records the allocation of corporate overhead expense within other operating expenses.

(4) Includes intercompany

(5) Primarily represents bond exchange OID amortization expense used for calculating core pre-tax income

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Asset Quality - Consolidated ⁽¹⁾	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13
Ending loan balance	$	99,947		$	99,517		$	100,777		$	99,623		$	100,327		$	430		$	(380	)
30+ Accruing DPD	$	1,607		$	1,452		$	1,245		$	956		$	1,408		$	155		$	199
30+ Accruing DPD %		1.6	%		1.5	%		1.2	%		1.0	%		1.4	%
Non-performing loans (NPLs)	$	645		$	621		$	611		$	710		$	725		$	24		$	(80	)
Net charge-offs (NCOs)	$	170		$	149		$	85		$	133		$	129		$	21		$	41
Net charge-off rate ⁽²⁾		0.7	%		0.6	%		0.3	%		0.5	%		0.5	%

Provision for loan losses	$	155		$	102		$	63		$	137		$	140		$	53		$	15
Allowance for loan losses (ALLL)	$	977		$	1,113		$	1,171		$	1,192		$	1,208		$	(136	)	$	(231	)

ALLL as % of Loans ⁽³⁾		1.0	%		1.1	%		1.2	%		1.2	%		1.2	%
ALLL as % of NPLs ⁽³⁾		151.5	%		179.2	%		191.8	%		167.9	%		166.6	%
ALLL as % of NCOs ⁽³⁾		143.5	%		186.8	%		344.2	%		223.8	%		233.6	%

U.S. Auto Delinquencies - HFI Retail Contract Amount ⁽⁴⁾
Delinquent contract $	$	1,543		$	1,338		$	1,174		$	904		$	1,325		$	205		$	218
% of retail contract $ outstanding		2.73	%		2.28	%		2.02	%		1.59	%		2.35	%

U.S. Auto Annualized Net Charge-Offs - HFI Retail Contract Amount
Net charge-offs	$	160		$	137		$	83		$	121		$	114		$	22		$	46
% of avg. HFI assets		1.10	%		0.93	%		0.58	%		0.85	%		0.80	%

U.S. Auto Annualized Net Charge-Offs - HFI Commercial Contract Amount
Net charge-offs	$	(0	)	$	0		$	1		$	0		$	2		$	(0	)	$	(2	)
% of avg. HFI assets		0.00	%		0.00	%		0.01	%		0.00	%		0.03	%

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

(2) Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding finance receivables and loans excluding loans measured at fair value and loans held-for-sale

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

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

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION, CONTINUED

($ in millions)

CONTINUING OPERATIONS

Automotive Finance ⁽¹⁾⁽²⁾	QUARTERLY TRENDS															CHANGE VS.
Consumer	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13
Allowance for loan losses	$	685		$	693		$	729		$	715		$	673		$	(8	)	$	12
Total consumer loans ⁽³⁾	$	56,570		$	58,675		$	58,114		$	56,775		$	56,417		$	(2,105	)	$	153
Coverage ratio		1.2	%		1.2	%		1.3	%		1.3	%		1.2	%

Commercial
Allowance for loan losses	$	98		$	90		$	93		$	94		$	96		$	8		$	2
Total commercial loans	$	34,022		$	31,492		$	33,041		$	32,984		$	33,803		$	2,530		$	219
Coverage ratio		0.3	%		0.3	%		0.3	%		0.3	%		0.3	%

Mortgage ⁽¹⁾⁽²⁾
Consumer
Allowance for loan losses	$	152		$	283		$	302		$	333		$	389		$	(131	)	$	(237	)
Total consumer loans	$	7,473		$	7,594		$	7,846		$	8,137		$	8,443		$	(121	)	$	(970	)
Coverage ratio		2.0	%		3.7	%		3.9	%		4.1	%		4.6	%

Corporate and Other⁽¹⁾⁽⁴⁾
Allowance for loan losses	$	42		$	47		$	47		$	50		$	50		$	(5	)	$	(8	)
Total commercial loans	$	1,882		$	1,756		$	1,776		$	1,727		$	1,664		$	125		$	218
Coverage ratio		2.2	%		2.7	%		2.6	%		2.9	%		3.0	%

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

(2) Represents domestic allowance for loan losses only

(3) Includes $35 million Corp. Treasury hedging activity related to domestic consumer auto outstandings in 4Q14, $16 million in 3Q14, $30 million in 2Q14, $12 million in 1Q14 and $1 million in 4Q13

(4) Includes Insurance

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

CAPITAL

($ in billions)

	QUARTERLY TRENDS															CHANGE VS.
Cost of Funds	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13
Ally Financial's cost of borrowing (incl. OID)		2.0	%		2.0	%		2.3	%		2.2	%		2.5	%
Ally Financial's cost of borrowing (excl. OID)		1.9	%		1.9	%		2.1	%		2.1	%		2.2	%

Capital
Risk-weighted assets	$	130.6		$	128.2		$	129.2		$	127.7		$	128.6		$	2.4		$	2.0

Tier 1 capital ratio		12.5	%		12.7	%		12.3	%		12.1	%		11.8	%
Tier 1 common capital ratio		9.6	%		9.7	%		9.4	%		9.1	%		8.8	%
Total risk-based capital ratio		13.2	%		13.5	%		13.2	%		13.0	%		12.8	%

Tangible common equity / Tangible assets		9.3	%		9.3	%		9.1	%		8.9	%		8.6	%
Tangible common equity / Risk-weighted assets		10.8	%		10.8	%		10.5	%		10.3	%		10.1	%

Shareholders’ equity	$	15.4		$	15.2		$	14.9		$	14.5		$	14.2		$	0.2		$	1.2
less: Goodwill and certain other intangibles		-			-			-			-			-			-			-
Disallowed DTA		(1.3	)		(1.4	)		(1.3	)		(1.5	)		(1.6	)		0.1			0.3
Certain AOCI items and other adjustments		(0.2	)		(0.1	)		(0.2	)		-			0.1			(0.1	)		(0.3	)
add: Trust preferred securities		2.5			2.5			2.5			2.5			2.5			-			-
Tier 1 capital	$	16.4		$	16.2		$	15.9		$	15.5		$	15.2		$	0.2		$	1.2

Tier 1 capital	$	16.4		$	16.2		$	15.9		$	15.5		$	15.2		$	0.2		$	1.2
less: Preferred equity		(1.3	)		(1.3	)		(1.3	)		(1.3	)		(1.3	)		-			-
Trust preferred securities		(2.5	)		(2.5	)		(2.5	)		(2.5	)		(2.5	)		-			-
Tier 1 common capital ⁽¹⁾	$	12.6		$	12.4		$	12.1		$	11.7		$	11.4		$	0.2		$	1.2

Tier 1 capital	$	16.4		$	16.2		$	15.9		$	15.5		$	15.2		$	0.2		$	1.2
add: Qualifying subordinated debt and redeemable preferred stock		0.2			0.2			0.2			0.2			0.3			-			(0.1	)
Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		0.7			0.8			0.9			0.9			1.0			(0.1	)		(0.3	)
Total risk-based capital	$	17.3		$	17.3		$	17.1		$	16.6		$	16.4		$	-		$	0.9

Total shareholders' equity	$	15.4		$	15.2		$	14.9		$	14.5		$	14.2		$	0.2		$	1.2
less: Preferred equity		(1.3	)		(1.3	)		(1.3	)		(1.3	)		(1.3	)		-			-
Goodwill and intangible assets		-			-			-			-			-			-			-
Tangible common equity ⁽²⁾	$	14.1		$	13.9		$	13.6		$	13.2		$	12.9		$	0.2		$	1.2

Total assets	$	151.8		$	149.2		$	149.9		$	148.5		$	151.2		$	2.6		$	0.6
less: Goodwill and intangible assets		-			-			-			-			-			-			-
Tangible assets	$	151.8		$	149.2		$	149.9		$	148.4		$	151.1		$	2.6		$	0.7

Note: Numbers may not foot due to rounding

(1) We define Tier 1 common as Tier 1 capital less non-common elements including qualified perpetual preferred stock, qualifying minority interest in subsidiaries, and qualifying trust preferred securities. Ally considers various measures when evaluating capital utilization and adequacy, including the Tier 1 common equity ratio, in addition to capital ratios defined by banking regulators. This calculation is intended to complement the capital ratios defined by banking regulators for both absolute and comparative purposes. Because GAAP does not include capital ratio measures, Ally believes there are no comparable GAAP financial measures to these ratios. Tier 1 common equity is not formally defined by GAAP or codified in the federal banking regulations and, therefore, is considered to be a non-GAAP financial measure. Ally believes the Tier 1 common equity ratio is important because we believe analysts and banking regulators may assess our capital adequacy using this ratio. 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.

(2) We define tangible common equity as common stockholders’ equity less goodwill and identifiable intangible assets (other than mortgage servicing rights), net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Tangible common equity is not formally defined by GAAP or codified in the federal banking regulations and, therefore, is considered to be a non-GAAP financial measure. Ally believes that tangible common equity is important because we believe analysts and banking regulators 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.

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

LIQUIDITY

($ in billions)

	12/31/2014					9/30/2014					12/31/2013
Available Liquidity	Parent ⁽¹⁾		Ally Bank			Parent ⁽¹⁾		Ally Bank			Parent ⁽¹⁾		Ally Bank
Cash and cash equivalents ⁽²⁾	$	2.7	$	2.3		$	2.9	$	2.2		$	3.3	$	2.3
Highly liquid securities ⁽³⁾		2.1		5.8			2.7		6.1			2.9		3.9
Current committed unused capacity		3.4		0.3			4.5		0.5			6.5		0.3
Subtotal	$	8.2	$	8.4		$	10.1	$	8.8		$	12.7	$	6.5
Ally Bank intercompany loan ⁽⁴⁾		0.6		(0.6	)		1.3		(1.3	)		0.6		(0.6	)
Total Current Available Liquidity	$	8.8	$	7.8		$	11.4	$	7.5		$	13.3	$	5.9

Unsecured Long-Term Debt Maturity Profile	2015		2016			2017		2018			2019		2020 and After
Consolidated remaining maturities	$	4.9	$	1.9		$	4.4	$	1.3		$	1.6	$	9.3

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

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

(3) Includes UST, Agency debt and Agency MBS

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

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

DEPOSITS

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.
Key Statistics	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13
Average retail CD maturity (months)		31.6			31.3			31.1			31.2			31.0			0.3			0.6
Average retail deposit rate		1.16	%		1.16	%		1.17	%		1.19	%		1.21	%

Ally Financial Deposits Levels
Ally Bank retail	$	47,954		$	46,718		$	45,934		$	45,193		$	43,172		$	1,236		$	4,782
Ally Bank brokered		9,885			9,692			9,684			9,683			9,678			192			207
Other		384			441			473			491			500			(57	)		(116	)
Total deposits	$	58,222		$	56,851		$	56,091		$	55,367		$	53,350		$	1,371		$	4,872

Ally Bank Deposit Mix
Retail CD		40.1	%		41.4	%		42.5	%		43.1	%		44.7	%
MMA/OSA/Checking		42.8	%		41.5	%		40.1	%		39.2	%		37.1	%
Brokered		17.1	%		17.2	%		17.4	%		17.7	%		18.2	%

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

ALLY BANK CONSUMER MORTGAGE HFI PORTFOLIO (PERIOD-END)

($ in billions)

	HISTORICAL QUARTERLY TRENDS
Loan Value	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13
Gross carry value	$	7.5		$	7.6		$	7.8		$	8.1		$	8.4
Net carry value	$	7.3		$	7.3		$	7.5		$	7.8		$	8.0

Estimated Pool Characteristics
Ongoing (post 1/1/2009)		46.9	%		38.7	%		38.7	%		39.1	%		39.3	%
Legacy (pre 1/1/2009)		53.1	%		61.3	%		61.3	%		60.9	%		60.7	%
% Second lien		10.5	%		10.8	%		11.0	%		11.1	%		11.1	%
% Interest only		12.5	%		13.4	%		13.5	%		13.5	%		13.8	%
% 30+ Day delinquent ⁽¹⁾		3.0	%		3.8	%		2.7	%		2.5	%		2.8	%
% Low/No documentation		12.1	%		14.3	%		14.2	%		14.1	%		14.1	%
% Non-primary residence		3.7	%		3.8	%		3.8	%		3.7	%		3.7	%
Refreshed FICO		734			726			726			727			728
Wtd. Avg. LTV/CLTV ⁽²⁾		71.5	%		73.1	%		76.6	%		77.8	%		79.1	%
Higher risk geographies ⁽³⁾		41.1	%		40.5	%		40.4	%		40.5	%		40.5	%

(1) 3Q14 delinquency rates temporarily impacted by sub-servicing transfer

(2) Updated home values derived using a combination of appraisals, BPOs, AVMs and MSA level house price indices

(3) Includes CA, FL, MI and AZ

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

DISCONTINUED OPERATIONS

($ in millions)

	QUARTERLY TRENDS													INC / (DEC) VS.
Impact of Discontinued Operations⁽¹⁾⁽²⁾	4Q 14		3Q 14			2Q 14		1Q 14			4Q 13			3Q 14			4Q 13
Auto Finance	$	23	$	29		$	22	$	28		$	(149	)	$	(6	)	$	172
Insurance		0		6			1		(0	)		0			(6	)		(0	)
Corporate and Other		6		16			25		(1	)		80			(10	)		(75	)
Consolidated pretax income	$	29	$	51		$	48	$	27		$	(69	)	$	(22	)	$	97
Tax expense (benefit)		2		(78	)		7		(1	)		(93	)		80			95
Consolidated net income	$	26	$	130		$	40	$	29		$	25		$	(104	)	$	1

Assets of discontinued operations held-for-sale	$	634	$	603		$	574	$	541		$	516		$	31		$	118

(1) Disc ops activity reflects several actions including divestitures of international businesses and other mortgage related charges in addition to certain discrete tax items

(2) The following businesses are classified as discontinued operations: the Brazilian automotive finance operations (sale completed 4Q13) and the remaining international automotive finance operations, including the joint venture in China (sale completed 1Q15)

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

PER SHARE-RELATED INFORMATION

($ in millions, shares in thousands)

	QUARTERLY TRENDS											CHANGE VS.						FULL YEAR
Earnings Per Share Data	4Q 14		3Q 14		2Q 14		1Q 14		4Q 13			3Q 14			4Q 13			2014		2013			CHANGE
Net income (loss)	$	177	$	423	$	323	$	227	$	104		$	(246	)	$	73		$	1,150	$	361		$	789
less: Preferred stock dividends		68		67		65		68		448			1			(380	)		268		1,049			(781	)
Net income (loss) available to common shareholders	$	109	$	356	$	258	$	159	$	(344	)	$	(247	)	$	453		$	882	$	(688	)	$	1,570

Weighted-average shares outstanding - basic ⁽¹⁾		481,861		481,611		481,350		479,768		442,863			250			38,999			481,155		420,166			60,989

Weighted-average shares outstanding - diluted ⁽¹⁾⁽²⁾		483,091		482,506		482,343		479,768		442,863			585			40,228			481,934		420,166			61,768

Net income (loss) per share - basic ⁽¹⁾	$	0.23	$	0.74	$	0.54	$	0.33	$	(0.78	)	$	(0.51	)	$	1.00		$	1.83	$	(1.64	)	$	3.47

Net income (loss) per share - diluted ⁽¹⁾⁽²⁾	$	0.23	$	0.74	$	0.54	$	0.33	$	(0.78	)	$	(0.51	)	$	1.01		$	1.83	$	(1.64	)	$	3.47

(1) Includes shares related to share-based compensation that have vested but not yet been issued as of December 31, September 30 and June 30, 2014

(2) The effects of converting the outstanding Fixed Rate Cumulative Mandatorily Convertible Preferred Stock into common shares are not included in the diluted earnings per share calculation for the three months ended December 31 2013, as the effects would be antidilutive for that period. As such, 89 million of potential common shares were excluded from the diluted earnings per share calculation for the three months ended December 31 2013

4Q 2014 Preliminary Results

ALLY FINANCIAL INC.

SUPPLEMENTAL FINANCIAL DATA

($ in millions)

	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
Core ROTCE Calculation	4Q 14			3Q 14			2Q 14			1Q 14			4Q 13			3Q 14			4Q 13			2014			2013			CHANGE
Pre-tax income (loss) from continuing operations	$	187		$	420		$	347		$	292		$	75		$	(233	)	$	112		$	1,246		$	357		$	889
add: Core original issue discount expense		42			47			53			44			67			(4	)		(25	)		186			249			(63	)
Repositioning items		167			-			16			3			18			167			149			187			244			(57	)
Core pre-tax income	$	396		$	467		$	417		$	339		$	161		$	(70	)	$	236		$	1,619		$	851		$	768
Normalized income tax expense at 34%		135			159			142			115			55			(24	)		80			550			289			261
Core net income		262			308			275			224			106			(46	)		156			1,069			561			507
Preferred dividends (Series A & G)		68			67			65			68			67			1			1			268			267			1
Operating net income available to common shareholders ⁽¹⁾	$	194		$	241		$	210		$	155		$	39		$	(47	)	$	155		$	800		$	294		$	506

Tangible common equity ⁽²⁾	$	14,069		$	13,752		$	13,386		$	13,060		$	12,438		$	317		$	1,631		$	13,522		$	12,695		$	826
less: Unamortized core original issue discount		1,369			1,411			1,461			1,510			1,565			(42	)		(196	)		1,441			1,656			(215	)
Net deferred tax asset		1,800			1,806			1,872			1,979			2,018			(6	)		(218	)		1,926			1,615			311
Normalized common equity ⁽¹⁾⁽³⁾	$	10,900		$	10,534		$	10,053		$	9,571		$	8,855		$	366		$	2,045		$	10,154		$	9,424		$	731

Core ROTCE ⁽¹⁾		7.1	%		9.1	%		8.4	%		6.5	%		1.8	%								7.9	%		3.1	%

Adjusted Efficiency Ratio Calculation
Total noninterest expense	$	672		$	742		$	821		$	713		$	884		$	(70	)	$	(212	)	$	2,948		$	3,405		$	(457	)
less: Rep and warrant expense		(11	)		-			0			1			1			(11	)		(12	)		(10	)		32			(42	)
Insurance expense		203			243			329			213			219			(40	)		(16	)		988			999			(11	)
Repositioning items		19			-			16			3			19			19			(0	)		39			123			(85	)
Numerator	$	461		$	499		$	475		$	496		$	645		$	(38	)	$	(184	)	$	1,932		$	2,251		$	(319	)

Total net revenue	$	1,014		$	1,264		$	1,231		$	1,142		$	1,099		$	(250	)	$	(85	)	$	4,651		$	4,263		$	388
add: Original issue discount		42			47			53			44			67			(4	)		(25	)		186			249			(64	)
Repositioning		148			-			-			-			(1	)		148			149			148			121			28
less: Insurance revenue		289			303			306			287			284			(14	)		5			1,185			1,253			(68	)
Denominator	$	916		$	1,008		$	978		$	899		$	881		$	(92	)	$	34		$	3,800		$	3,380		$	420

Adjusted Efficiency Ratio ⁽¹⁾		50	%		49	%		49	%		55	%		73	%								51	%		67	%