Investor Presentaiton

3Q 2023 Preliminary Results Noninterest Expense Dynamics • • Reducing expense growth considering near-term revenue headwinds Targeting <1% growth in controllable noninterest expense (1) in 2024 (2% total noninterest expense growth) - More than 80% of 2024 total growth driven by Insurance (more than offset in revenue) and non-discretionary FDIC fees Other includes variable expense + key investments protecting the company (i.e., cyber) offset by headcount and efficiency actions Specific actions taken to drive down expense growth going forward - - Full impact of mid 2022 hiring freeze now reflected in run rate Reduction in workforce estimated to save $80 million annually • Several factors driving expense growth in recent years expected to abate - Normalization of credit losses; normalization of weather losses; ramp up of technology and brand spend Adjusted Noninterest Expense (2) ↑ ~$200M Normalization of Consumer Credit $4.6B ↑ ~$50 million FDIC Fees ↑ ~$80M & ↑ Insurance Losses $5.0B $4.9B Key Drivers into 2024 Includes industry wide assessment increase ↑ costs following historically low credit and weather losses All Other Variable costs & prioritized investments Full year impact of 2022 hiring freeze $80M annual ↓ restructuring benefits Credit and weather largely normalized, not a material YoY expense driver ↑ Insurance expenses driven by continued portfolio growth Non-Discretionary Discretionary ↑ FDIC Fees 2022 2023 Forecast 2024 Forecast (1) (2) Defined as total operating expenses excluding FDIC fees and certain Insurance expenses (losses and commissions) Non-GAAP financial measure. See pages 35-37 for definitions. ally do it right. 10

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