#1ERGOLELLENCA gm brightdrop Strong First Half Builds Momentum Q2 2023 Earnings July 25, 2023#2gm Table of Contents Page 04 Q2 Highlights ICE Portfolio Optimization EV Acceleration New Business Growth Page 15 2023 Guidance Page 16 Summary of 2023-2025 KPIs Page 17 Long-Term Investment Opportunity Page 18 Page 32 Financial Information Supplemental Financial Information 2024 Chevrolet Trax 2#3gm Information Relevant to this Presentation 10:08 1 70°F September 8th Setades Cautionary note on forward-looking statements: this presentation and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent our current judgement about possible future events and are often identified by words such as "aim," "anticipate,” "appears," "approximately," "believe," "continue," "could," "designed," "effect," "estimate," "evaluate," "expect," "forecast," "goal," "initiative,” “intend,” “may,” “objective," "outlook,” “plan,” “potential," "priorities,” “project,” "pursue," "seek,” “should,” “target,” “when,” “will,” “would," or the negative of any of those words or similar expressions. In making these statements we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of important factors, many of which are described in our most recent annual report on Form 10-K and our other filings with the Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where we are expressly required to do so by law. Non-GAAP financial measures: see our most recent annual report on Form 10-K and our other filings with the Securities and Exchange Commission for a description of certain non-GAAP measures used in this presentation, including EBIT-adjusted, EPS-diluted-adjusted, ETR-adjusted, ROIC-adjusted and adjusted automotive free cash flow, along with a description of various uses for such measures. This presentation also includes GMF's return on tangible common equity, which is used by GMF's management and can be used by investors to measure GMF's contribution to GM's enterprise profitability and cash flow. Return on average tangible common equity is calculated as GMF's net income attributable to common shareholder for the trailing four quarters divided by GMF's average tangible common equity for the same period. Our calculation of these non-GAAP measures are set forth within these reports and the select supplemental financial information section of this presentation and may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures. When we present our total company EBIT-adjusted, GMF is presented on EBT-adjusted basis. Additional information: in this presentation and related comments by management, references to "record" or "best" performance (or similar statements) refer to General Motors Company, as established in 2009. In addition, certain figures included in the charts and tables in this presentation may not sum due to rounding. Simulated models and pre-production models shown throughout; production vehicles will vary. For information on models shown, including availability, see each GM brand website for details.#4gm Q2'23 Highlights Winning with customers, delivering strong results EBIT-Adj. $3.2B Adj. Auto Free Cash Flow $5.5B Raising 2023 full-year guidance for the 2nd consecutive quarter Strong core auto business performance driven by record quarterly revenue, with stable incentives and inventory Achieved North America EV production of ~50,000 units in the first half of 2023, target to double in H2 Earned #1 ranking on J.D. Power Initial Quality Study for the second consecutive year Expanded our #1 position in total sales, truck sales and fleet and commercial sales in the U.S. market#5gm DENAU Ha GMC Customer Demand Drives Growth U.S. Premium Trucks grow from a niche to a centerpiece • Highest-ever penetration of AT4 and Denali: 70% of GMC Sierra HD sales; . nearly 50% of Sierra LD sales; more than 74% of Canyon orders ~75% of Chevrolet Tahoe and Suburban sales are premium trims (RST, Z71, Premier and High Country) • 56% of Chevrolet Colorado sales are Trail Boss and Z71, with top-level ZR2 now arriving at dealers 30% of Chevrolet Silverado sales are off-road focused trucks (Z71, Custom, Custom Trail Boss and ZR2) Affordable SUVs attract new buyers, fill a void left by competitors • All-new Chevrolet Trax U.S. sales up 115% in Q2; conquest customers represent approximately half of sales in U.S., and two-thirds in S. Korea Chevrolet's retail market share of the small SUV segment • reaches 25%, highest since 2007 5#6Go-to-Market Strategy Enhances Performance Robust Pricing, Low Incentives, Balanced Inventory Drive Strong First Half Results . Q2 U.S. Average Transaction Price (ATP) $52,248, up $1,890 YoY and $1,600 from Q1'23 • Incentives as a % of ATP - Ended Q2 at 3.1% compared to industry average of 3.8%, nearly flat compared to Q1'23 • At the end of Q2, U.S. dealer inventory essentially flat (up less than 4%) from Q1'23 • Added ~0.7 ppts of U.S. Market Share in H1'23 vs H1'22 gm GMC GM 782 DENAU#7Investing in the Next Generation of Full-Size Trucks and SUVs SMG Flint, Michigan $1B+ to produce the next generation of heavy-duty trucks Arlington, Texas $0.5B+ to produce the next generation of full-size SUVs Fort Wayne, Indiana $0.6B to produce the next generation of light-duty trucks Investments will strengthen our industry-leading full-size truck and SUV business gm 7#8Launched GM Envolve: New Customer Experience, New Vehicles Extend our Lead in Fleet & Commercial Market One-stop customer experience for our industry-leading fleet and commercial business Broadest product portfolio of cars, trucks, SUVs and EVs in the industry, and Bright Drop's cutting-edge electric delivery vans Growing suite of fleet-tailored software services, including GM Energy, OnStar Business Solutions and BrightDrop gm envolve ultim 8#9Chevrolet Silverado EV Work Truck: More Range = More Work gm *EPA-estimated. Actual range may vary based on several factors, including temperature, terrain, battery age, loading, and how you use and maintain your vehicle. SILLEROY Industry-leading 450 mile EPA-estimated range, 40% more than nearest competitor 10,000 lbs. towing capacity Deliveries begin soon to commercial customers 9#10New EVs in H2 Strategically Target Growth Segments Q3'23 Chevrolet Silverado EV Work Truck Chevrolet Blazer EV Production begins in Q3 Production underway, deliveries begin to commercial customers soon Chevrolet Equinox EV Production begins in Q4 Chevrolet Silverado EV RST First Edition Production begins in Q4 brightdrop brightdrop 0 YE'23 Bright Drop Zevo 400 Production begins in Q4 Cadillac CELESTIQ Production begins in Q4 10#11gm Cadillac ESCALADE IQ Reveal on Aug. 9 The brand's first-ever all-electric full-size SUV, ESCALADE IQ represents the reinvention of Cadillac's most iconic nameplate. 11#12Expanding our Competitive Advantage Developing a more resilient, North American focused manufacturing and supply chain ecosystem for EV growth Palo Alto, CA OneD Battery Sciences, silicon anode technology Imperial, CA Controlled Thermal Resources, lithium extraction technology Thacker Pass, NV Lithium Americas, lithium supply agreement Montréal, Québec Lithion Recycling, advanced battery recycling technology Ingersoll, Ontario EV production (BrightDrop) St. Catharine's, Ontario EV drive unit production 0 New Carlisle, IN JV battery cell production Spring Hill, TN EV production Spring Hill, TN JV battery cell production Fort Worth, TX MP Materials, rare earth magnet supply agreement 100% GM OWNED EV MANUFACTURING AND R&D JV BATTERY CELL PLANTS EV SUPPLY CHAIN INVESTMENTS Austin, TX EnergyX, direct lithium extraction technology Bécancour, Quebec CPOSCO Chemical, Cathode Active Material (CAM) processing facility Vale, nickel sulfate supply agreement Warren, OH Ultium Cells JV battery cell production Toledo, OH EV drive unit production Ramos Arizpe, Mexico EV production Louisiana Element 25, manganese sulfate production facility Defiance, OH EV component production Marcy, NY Wolfspeed, silicon carbide supply agreement Rochester, NY EV component production Wakefield, MA Nanoramic, lithium-ion electrode technology Orion, MI EV assembly plant 0 Lansing, MI Ultium Cells JV battery cell production Warren, MI Wallace Battery Lab Innovation Center Detroit, MI Factory Zero EV assembly plant Bessemer City, NC Livent, lithium hydroxide supply agreement 12#13Doubling EV Charging Access ultium charge 360 • GM & Tesla Collaboration GM will begin to integrate North American Charging Standard (NACS) starting in 2025 GM customers will have access to 12,000 Tesla Superchargers beginning in early 2024 • Ultium Charge 360 Expanding charging access across home, workplace and public spaces More than 134,000 chargers available to GM EV drivers through Ultium Charge 360 initiative and mobile apps Collaborations with Pilot Company and EVgo will add more than 5,000 DC fast chargers to the nearly 13,000 existing in North America Charging provided by WHEELERS GMC EV READY AUTO GROUP GM customers will have access to 30,000 DC fast charging stations in early 2024 13#14Cruise: Scaling Progressively Faster • • Reached the 3rd million driverless miles in just 49 days, nearly two times faster than the 2nd million Doing 10,000 rides a week, recently hit 390 driverless AVs running concurrently across all operating cities • First million driverless miles safety report shows 54% fewer collisions overall vs human drivers in a comparable driving environment • ~15% monthly decrease in cost per mile for the last 6 months, led by optimizations in infrastructure, process improvements, and automation • Targeting costs below $1 per mile SEAFOOD RESTAURANT FIREST CAFE Sports Bar Banque Facilities NO PARKING 2 Poppi cruise 大上海 OLD SHANGHAI HOME DECOR ORIENTAL FASHION cruise Orbit#15Raising CY 2023 Guidance* Expect to drive consistently strong core auto operating performance in 2023 $12-14B EBIT-adj. Previously $11-13B $7.15-$8.15 EPS-diluted-adj. Previously $6.35-$7.35 $7-9B Adj. Auto FCF Previously $5.5-7.5B 8-10% GMNA EBIT-adj. margins $11-12B Capital spend + Battery JVS Previously $11-13B 16-18% ETR-adjusted gm *Assumes no labor disruptions in 2023 15#16Total Company gm Summary of 2023-2025 KPIs Revenue of $225B+ in 2025 (~12% CAGR) GMNA EBIT-adjusted margins of ~8-10% through 2025 Total capital spending of ~$11-13B per year through 2025 (2024-2025 under review) EV EV revenue of $50B+ in 2025 400K EV production units from 2022 - H1 2024 and capacity of ~1M units in NA by 2025 EV portfolio at a low to mid-single digit EBIT profit margin in 2025* Cell cost of ~$87/kWh by 2025** *Includes projected GHG benefits, software revenue, and aftersales revenue & excludes clean energy tax credits **Subject to raw material pricing changes vs values assumed at our Investor Day 2022 16#17gm 旨 Attractive Revenue Growth & Margin Expansion Long-Term Investment Opportunity Expect to double company revenue to $275-315B by 2030* ~50% revenue CAGR in software and new businesses by 2030 while Cruise targets annual revenue of $50B by 2030 Strong core auto business target revenue CAGR of 4-6% through 2030 Expect margin expansion to 12-14% by 2030 with new businesses margins in excess of 20% Scalable and Compelling Platforms World-Class Manufacturing *Baseline =2016-2020 average revenue Ultium is a key enabler in launching high-volume EV products into multiple segments Targeting 1M annual EV capacity in North America by 2025 Ultifi will help open up $20B-25B in annual software and service revenue by 2030, including OnStar On track to open 4 battery cell plants targeting 160GWh of capacity 17#18gm Financial Information 18#19gm Second Quarter Financial Highlights $3.2B $5.5B $44.7B $3.2B Revenue EBIT-adj. Adj. Auto FCF 979K Wholesale units 7.2% EBIT-adj. Margin 16.3% U.S. Market Share 19#20Second Quarter Performance EPS-DILUTED-ADJ.1 EBIT-ADJ.¹ ($B) & EBIT-ADJ. MARGIN¹ 7.2% 6.6% $1.91 $3.2 $1.14 $2.3 Q2-22 Q2-23 ADJ. AUTO FREE CASH FLOW $5.5B Adj. Auto Free Cash Flow +$4.1B YOY Q2-22 Q2-23 SHARE & DELIVERIES 9.3% Market Share (10)bps YoY 1.6M Deliveries up 0.2M YoY EPS-DILUTED-ADJ.; EBIT-ADJ. & MARGIN $0.9B YoY increase mainly driven by strong core auto operating performance, partially offset by LGES and LGE agreements (Collectively, LG agreements), normalized GMF EBT, lower pension income and higher warranty EPS-diluted-adjusted includes $(0.03)2 impact. from revaluation on equity investments in Q2'23 and $($0.05)³ in Q2'22 ADJ. AUTO FREE CASH FLOW Driven by higher wholesale as a result of improved supply chain conditions, and stronger core auto operating performance SHARE & DELIVERIES Deliveries increase driven by improved supply chain conditions in GMNA, in addition to the recovery of China JV operations post COVID restrictions gm 1 See slides 36 and 38 for descriptions of special items. 2 Includes investments in others 3 Includes investments in Stellantis, Momenta and others. 20 20#21Second Quarter EBIT-adjusted ($B) gm $2.3 $3.2 GMNA Q2-2022 Q2-2023 $1.1 $0.8 $0.2 $0.2 GMI GM Financial $(0.3) $(0.5) $(0.6) $(0.7) Cruise Corp/Elims GMNA and GMI ex. China strong core auto operating performance, capitalizing on continued favorable market conditions Lower GMF EBT and higher Cruise expenses in line with expectations; Corp $0.3B non-recurrence of Q2'22 mark-to-market losses $3.2 $2.3 Total Company 21#22Second Quarter EBIT-adjusted Performance ($B) gm GMNA: 171K GMI: (8)K $0.7 $1.7 $2.3 Q2-2022 $1.2 GM Financial: $(0.3) Other Investments: $0.3 $0.0 $3.2 $(2.7) Volume Mix Price Cost Other Q2-2023 VOLUME/MIX Increased YoY volumes as supply chain constraints continue to ease and the customer demand for our products remains strong PRICE GMNA and GMI ex. China strong pricing conditions extended into the second quarter, paired with market share gains in U.S. and Brazil COST Cost increase primarily driven by LG agreements $(0.8)B, higher warranty $(0.5)B, lower pension income $(0.3)B, and higher manufacturing and launch costs 22 22#23Empty#24GMI Performance - Excluding GM China JV NET REVENUE ($B) EBIT-ADJ. ($B) 7.8% 7.1% 0.1% 1.6% 4.0% $4.3 $4.0 $4.0 $0.3 $0.3 $0.1 $3.8 $0.2 $3.7 $0.0 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 WHOLESALES (000'S) 182 180 155 141 147 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 gm EBIT-Adj. margin from GMI ex. China El Q2'23 HIGHLIGHTS Strong core auto business performance driven by continued price favorability in GMSA and MEO, partially offset by the non-recurrence of the $0.2B Momenta Mark-to-market gain in Q2'22 and $(0.1) B related to the LG agreements 24#25GM China Auto JV Performance NET REVENUE ($B) EQUITY INCOME ($B) 6.4% 4.3% 2.1% 3.6% $0.3 $10.4 $10.4 (3.4)% $8.1 $0.2 $6.1 $5.8 $0.1 $0.1 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 $(0.1) Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 473 WHOLESALES (000'S) 768 796 599 392 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 gm 1 China Auto JV Net Revenue and Wholesales not consolidated in GM financial results. 2 China Auto JV pro-rata share of earnings reported as equity income. Total China Auto JV NI/Rev Q2'23 HIGHLIGHTS YoY equity income increase of $0.2B driven by higher volume and mix, partially offset by continued pricing pressure in the very competitive China market. 25 25#26Cruise ($B) Financial Performance Revenue¹ Q2 H1 2022 2023 2022 2023 0.0 0.0 0.1 0.1 EBIT-adjusted² (0.5) (0.6) (0.9) (1.2) Cash used in operating activities (0.5) (0.5) (0.8) (0.9) Cash, cash equivalents and marketable securities 3,4 3.7 2.1 3.7 2.1 Increased Cruise expenses in line with expectations during rapid operational scaling gm 1 Primarily reclassified to Interest income and other non-operating income, net in our condensed consolidated income statements in the three and six months ended June 30, 2023, and 2022. 2 Excludes $1.1 billion in compensation expense in the six months ended June 30, 2022, resulting from modification of the Cruise stock incentive awards. 3 Excludes a multi-year credit agreement with GM Financial whereby Cruise can borrow, over time, up to an additional aggregate of $4.4 billion, through 2024, to fund the purchase of AVs from GM and all accessories, attachments, parts and other equipment acquired in connection with or otherwise relating to any AV. As of June 30, 2023, Cruise had total borrowings of $0.2B under this agreement. 4 Excludes a multi-year framework agreement with us whereby Cruise can defer invoices received through 2024, up to $0.8B, related to engineering and capital spending incurred by us on behalf of Cruise. As of June 30, 2023, Cruise deferred $0.3B under this agreement. 26 46#27GM Financial EBT-ADJUSTED ($B) ENDING EARNING ASSETS ($B) 29.2% 27.9% 44.6% 45.9% 42.9% 39.7% 41.4% 25.1% 21.5% 19.3% $1.1 $104.2 $106.7 $109.3 $110.2 $112.8 $0.9 $0.8 $0.8 $0.8 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Return on Average Tangible Common Equity -GMF as % of GM U.S. Retail Sales (units) gm LIQUIDITY ($B) 7.62x 7.68x 7.91x 7.85x 8.00x $29.7 $27.3 $28.5 $29.8 $32.0 Q2-22 Q3-22 Q4-22 Q1-23 Leverage Ratio Q2-23 Q2'23 HIGHLIGHTS EBT-Adjusted results down YoY driven by lower net leased vehicle income and higher interest expense, partially offset by loan portfolio growth and higher effective yield Earning assets increased YoY driven by growth in retail and commercial loan portfolios Sufficient capital and ample liquidity to support earning asset growth and navigate economic cycles Paid $450M dividend to GM Note: Ending earning assets includes outstanding loans to dealers that are controlled and consolidated by GM in connection with our commercial lending program and direct-finance leases from other GM subsidiaries. Return on average tangible common equity is defined as net income attributable to common shareholder for the trailing four quarters divided by average tangible common equity for the same period. Liquidity excludes $1.0B GM Junior Subordinated Revolving Credit Facility. 27 27#28Adjusted Automotive Free Cash Flow Q2 H1 ($B) Net Income Income tax and net automotive interest expense EBIT adjustments¹ 2022 2023 2022 2023 1.6 2.5 4.4 4.9 0.7 0.5 0.8 0.9 0.2 1.0 1.1 Net loss (income) attributable to noncontrolling interests 0.0 0.1 0.2 0.1 EBIT-adjusted 2.3 3.2 6.4 7.0 GMF EBT-adjusted Cruise EBIT loss-adjusted (1.1) (0.8) (2.4) (1.5) 0.5 0.6 0.9 1.2 Automotive EBIT-adjusted Depreciation, amortization and impairments Pension / OPEB activities 1.8 3.1 4.9 6.7 1.6 1.7 3.3 3.2 (0.5) (0.2) (1.0) (0.5) Working Capital (0.1) 0.5 (1.0) (1.6) Accrued and other liabilities² 0.2 1.8 (1.2) 0.8 Undistributed earnings of nonconsolidated affiliates 0.1 0.3 (0.1) 0.3 Interest and tax payments (0.7) (0.5) (0.8) (0.6) Other² 1.1 0.6 1.2 1.3 Net automotive cash provided by (used in) operating activities 3.5 7.1 5.1 9.3 Capital expenditures (2.1) (2.1) (3.7) (4.5) GM Korea wage litigation 0.0 Buick dealer strategy 0.3 0.0 0.3 Voluntary separation program 0.3 0.4 Adjusted automotive free cash flow 1.4 5.5 1.4 5.4 gm 1 See slide 36 for description of special items 2 Excludes EBIT adjustments 28#29Automotive Liquidity and Debt AUTOMOTIVE LIQUIDITY ($B) $39.5 TOTAL AUTOMOTIVE DEBT ($B) $38.9 $15.1 $13.5 $24.4 $25.3 $17.8 $16.4 Dec 31, 2022 Jun 30, 2023 Dec 31, 2022 I Available Credit Facilities Cash, Cash Equivalents and Marketable Debt Securities gm Jun 30, 2023 Senior Unsecured Notes and Other Strong liquidity levels support current and near-term macroeconomic and industry conditions 29 29#30gm Regional Q2 EBIT-adjusted Performance ($B) GMNA GMI $0.9 $0.7 $1.7 $2.3 $0.3 $0.1 $3.2 $(2.5) $0.2 $0.1 $0.2 $(0.2) $(0.1) $(0.0) Q2-2022 Volume Mix Price Cost Other Q2-2023 Q2-2022 Volume Mix Price Cost Other Q2-2023 $5.4 $2.1 $0.6 $2.2 $(3.4) $(0.0) $6.8 $0.5 $(0.0) $0.1 $0.6 Year to Date 2023 / $(0.4) $(0.3) $0.6 Year to Date 2023 30 30#31Summary • • . • Q2'23 Results Consistently meeting or exceeding our financial targets Ongoing strength of core auto business paired with GMF strong results, driving robust financial performance Raising full year guidance for the 2nd consecutive quarter Highest ever Q2 Consolidated and GMNA revenue, supported by customer demand for our high-quality portfolio • U.S. market share YoY and YTD gains while pricing remained strong • Announced new investments for the next generation of full- size trucks and SUVs, our most profitable products • Cruise operational and technology foundation continues to support a progressively faster expansion What's to Come • Continue to execute with intense focus on operational excellence and profitability, on track to achieve our net $2B cost reduction target • H2'23 Ultium Vehicle Launches • — - Chevrolet Blazer EV - Chevrolet Equinox EV - Silverado EV RST First Edition - Bright Drop Zevo 400 - Cadillac CELESTIQ Cell production ramping at Ultium Cells manufacturing plant in Warren, Ohio and beginning in Spring Hill, Tennessee by year end Rising EV production, target to build 100K in North America in H2'23 gm 31#32gm Supplemental Financial Information GMC FITUS#33Second Quarter GAAP Results gm Q2 H1 All amounts in $B except EPS-diluted 2022 2023 2022 2023 Net revenue 35.8 44.7 71.7 84.7 Operating income 2.1 2.8 4.3 5.4 Net income attributed to stockholders 1.7 2.6 4.6 5.0 Net income margin 4.7% 5.7% 6.5% 5.9% EPS-diluted ($/share) Net cash provided by operating activities $1.14 $1.83 $2.49 $3.52 3.1 7.6 5.2 10.6 33#34Global Deliveries (000's) Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 North America 687 663 729 707 805 U.S. 582 556 623 603 692 Asia/Pacific, Middle East and Africa 626 746 700 569 670 China 484 630 576 462 526 South America 107 130 124 106 108 Brazil 66 88 88 71 78 Global Deliveries - in GM Markets 1,420 1,539 1,553 1,382 1,584 gm 34 34#35Global Market Share gm Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 North America 15.6% 15.5% 16.2% 15.8% 15.6% U.S. 16.2% 15.8% 16.7% 16.4% 16.3% Asia/Pacific, Middle East and Africa 6.4% 6.5% 6.0% 5.4% 6.1% China 9.5% 9.9% 9.1% 9.1% 8.6% South America 11.8% 13.0% 12.8% 12.4% 12.5% Brazil 12.8% 15.0% 14.6% 15.1% 14.7% Global Deliveries - in GM Markets 9.4% 9.2% 9.1% 8.7% 9.3% 35#36Reconciliation of EBIT-adjusted Q3 Q4 Q1 Q2 2021 2022 2021 2022 2022 2023 2022 2023 Net income attributable to stockholders 2.4 3.3 1.7 2.0 2.9 2.4 1.7 2.6 Income tax expense (benefit) 0.2 0.8 0.5 0.6 (0.0) 0.4 0.5 0.5 Automotive interest expense 0.2 0.3 0.2 0.3 0.2 0.2 0.2 0.2 Automotive interest income (0.0) (0.1) (0.0) (0.2) (0.1) (0.2) (0.1) (0.3) ($B) Adjustments Voluntary separation program' Cruise compensation modifications² Russia exit³ Buick dealer strategy Patent royalty matters 5 GM Brazil indirect tax matters Cadillac dealer strategy? ||||| (0.1) | | | 。 । | | 38སླ ||||||||| 0.9 མྱི | | ཅ | | | । 0.2 | | | | 3 སྱཱ ༔ 1.1 0.7 0.5 0.3 (0.1) | | | | | │2 0.2 0.2 0.4 1.2 1.0 1.0 2.9 4.3 2.8 3.8 4.0 3.8 2.3 1 This adjustment was excluded because it relates to the acceleration of attrition as part of the cost reduction program announced in January 2023, primarily in the United States. 2 This adjustment was excluded because it relates to the one-time modification of Cruise stock incentive awards. 4 These adjustments were excluded because they relate to strategic activities to transition certain Buick dealers out of our dealer network as part of Buick's EV strategy. 3 This adjustment was excluded because it relates to the shutdown of our Russia business including the write off of our net investment and release of accumulated translation losses into earnings. 5 These adjustments were excluded because they relate to certain royalties accrued with respect to past-year vehicle sales in the three months ended December 31, 2021, and the resolution of substantially all of these matters in the three months ended March 31, 2022. 6 This adjustment was excluded because it relates to a settlement with third parties in the three months ended December 31, 2021, relating to retrospective recoveries of indirect taxes in Brazil realized in prior periods. 7 This adjustment was excluded because it relates to strategic activities to transition certain Cadillac dealers from the network as part of Cadillac's EV strategy. 8 This adjustment was excluded because it relates to the partial resolution of subcontractor matters in Korea 36 GM Korea wage litigation³ Total adjustments EBIT-adjusted gm#37gm Impact of Special Items on GAAP Reported Earnings ($B) Total net sales and revenues Costs and expenses Q2 2022 Q2 2023 Reported Special items Adjusted (Non-GAAP) Reported Special items 35.8 35.8 44.7 Adjusted (Non-GAAP) 44.7 Automotive and other cost of sales 29.3 29.3 36.6 0.11 36.7 GM Financial operating and other expenses 2.1 2.1 2.8 2.8 Automotive and other SG&A 2.3 2.3 2.6 (0.2)² 2.3 Total costs and expenses 33.6 33.6 41.9 (0.2) 41.8 Operating income 2.1 2.1 2.8 (0.2) 3.0 Net automotive interest expense, interest income, 0.0 0.0 0.2 0.2 other non-operating income, and equity income Tax expense (benefit) 0.5 0.5 0.5 0.1 0.6 Net Income 1.6 1.6 2.5 0.1 2.6 Net loss (income) attributable to noncontrolling interests 0.1 0.1 0.1 0.1 Net income attributable to stockholders 1.7 1.7 2.6 0.1 2.7 Memo: depreciation, amortization and impairments 2.9 2.9 2.9 2.9 1 This adjustment was excluded because it relates to the partial resolution of subcontractor matters in Korea. 2 This adjustment was excluded because it relates to strategic activities to transition certain Buick dealers out of our dealer network as part of Buick's EV strategy. 36 37#38EPS-diluted-adjusted Reconciliation Q2 H1 2022 2023 2022 2023 Diluted earnings per common share $1.14 $1.83 $2.49 $3.52 Adjustments¹ 0.12 0.65 0.82 Tax effect on adjustments² Tax adjustments³ Deemed dividend adjustment4 EPS-diluted-adjusted (0.04) (0.20) (0.21) (0.33) 0.62 $1.14 $1.91 $3.23 $4.12 See slide 36 for description of adjustments. gm 2 The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates. 3 The adjustment consists of tax benefit related to the release of a valuation allowance against deferred tax assets considered realizable as a result of Cruise tax reconsolidation in the six months ended June 30, 2022. This adjustment was excluded because significant impacts of valuation allowances are not considered part of our core operations. 4 This adjustment consists of a deemed dividend related to the redemption of Cruise preferred shares from SoftBank in the six months ended June 30, 2022. 38#39Empty#40Calculation of ROIC-adjusted ($B) Numerator: EBIT-adjusted Four quarters ended June 30, 2022 2023 12.1 15.1 Denominator: Average equity¹ 62.4 70.5 Add: Average automotive debt and interest liabilities (excluding finance leases) 16.8 17.3 Add: Average automotive net pension & OPEB liability 12.1 8.0 Less: Average automotive and other net income tax asset (21.6) (20.7) ROIC-adjusted average net assets 69.7 75.0 ROIC-adjusted 17.4% 20.2% gm 1 Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in EBIT-adjusted. Note: ROIC-adjusted average net assets over four quarters includes cash. 40#41GM Financial - Key Metrics gm Q2 2022 Q2 2023 H1 2022 H1 2023 Revenue ($B) 3.1 3.5 6.3 6.8 EBT-Adjusted ($B) 1.1 0.8 2.4 1.5 Total retail originations ($B) 12.8 13.7 24.4 26.7 Retail finance delinquencies (>30 days) 2.4% 2.5% 2.4% 2.5% Annualized net charge-offs as % of 0.6% 0.8% 0.6% 0.8% average retail finance receivables Tangible equity ($B) 13.7 14.1 13.7 14.1 Joint ventures equity income ($M) 50 37 104 78 Dividend ($M) 750 450 750 900 41#42GM Financial - Return on Equity Four quarters ended June 30, ($B) 2022 2023 Net income attributable to common shareholder 3.4 2.3 Average equity 14.8 15.2 Less: average preferred equity (2.0) (2.0) Average common equity 12.8 13.3 Less: average goodwill and intangible assets (1.2) (1.2) Average tangible common equity 11.6 12.1 Return on average common equity 26.6% 17.6% Return on average tangible common equity 29.2% 19.3% gm 42#432023 Guidance Reconciliation ($B) Net income attributable to stockholders Income tax expense Automotive interest expense, net Adjustments EBIT-adjusted gm Diluted earnings per common share Adjustments EPS-diluted adjusted Year Ending Dec 31, 2023 $9.3 - $10.7 $1.6 - $2.2 $0.0 $1.1 $12.0 - $14.0 Year Ending Dec 31, 2023 $6.54 - $7.54 $0.61 $7.15 - $8.15 ($B) Net automotive cash provided by operating activities Less: Capital expenditures Adjustments Adjusted automotive free cash flow Year Ending Dec 31, 2023 $17.4 - $20.4 $11.0 - $12.0 $0.6 $7.0 - $9.0 Note: we do not consider the potential future impact of adjustments on our expected financial results. 43#44gm For Additional Information Please Visit: https://investor.gm.com [email protected] https://www.gmfinancial.com/en-us/investor-center.html [email protected] GM's Investor Relations website contains a significant amount of information about GM, including financial and other information for investors. 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