Exhibit 99.2

SYNCHRONY FINANCIAL
FINANCIAL SUMMARY
(unaudited, in millions, except per share statistics)
	Quarter Ended																										Nine months ended
	Sep 30, 2014				Jun 30, 2014				Mar 31, 2014				Dec 31, 2013				Sep 30, 2013				3Q'14 vs. 3Q'13						Sep 30, 2014				Sep 30, 2013				YTD'14 vs. YTD'13
EARNINGS
Net interest income	$	2,879			$	2,720			$	2,743			$	2,849			$	2,703			$	176		6.5	%		$	8,342			$	7,722			$	620		8.0	%
Retailer share arrangements	(693		)		(590		)		(594		)		(662		)		(680		)		(13		)	1.9	%		(1,877		)		(1,711		)		(166		)	9.7	%
Net interest income, after retailer share arrangements	2,186				2,130				2,149				2,187				2,023				163			8.1	%		6,465				6,011				454			7.6	%
Provision for loan losses	675				681				764				818				541				134			24.8	%		2,120				2,254				(134		)	(5.9	)%
Net interest income, after retailer share arrangements and provision for loan losses	1,511				1,449				1,385				1,369				1,482				29			2.0	%		4,345				3,757				588			15.7	%
Other income	96				112				115				130				114				(18		)	(15.8	)%		323				370				(47		)	(12.7	)%
Other expense	728				797				610				807				575				153			26.6	%		2,135				1,677				458			27.3	%
Earnings before provision for income taxes	879				764				890				692				1,021				(142		)	(13.9	)%		2,533				2,450				83			3.4	%
Provision for income taxes	331				292				332				249				380				(49		)	(12.9	)%		955				914				41			4.5	%
Net earnings	$	548			$	472			$	558			$	443			$	641			$	(93	)	(14.5	)%		$	1,578			$	1,536			$	42		2.7	%
Net earnings attributable to common stockholders	$	548			$	472			$	558			$	443			$	641			$	(93	)	(14.5	)%		$	1,578			$	1,536			$	42		2.7	%
COMMON SHARE STATISTICS
Basic EPS	$	0.70			$	0.67			$	0.79			$	0.63			$	0.91			$	(0.21	)	(23.1	)%		$	2.16			$	2.18			$	(0.02	)	(0.9	)%
Diluted EPS	$	0.70			$	0.67			$	0.79			$	0.63			$	0.91			$	(0.21	)	(23.1	)%		$	2.16			$	2.18			$	(0.02	)	(0.9	)%
Common stock price	$	24.55			n/a				n/a				n/a				n/a				$	24.55		n/a			$	24.55			n/a				$	24.55		n/a
Book value per share	$	11.92			$	9.07			$	8.57			$	8.45			$	7.92			$	4.00		50.5	%		$	11.92			$	7.92			$	4.00		50.5	%
Tangible common equity per share(1)	$	10.24			$	7.07			$	6.57			$	6.68			$	6.15			$	4.09		66.5	%		$	10.24			$	6.15			$	4.09		66.5	%
Beginning common shares outstanding	705				705				705				705				705				—			—	%		705				705				—			—	%
Issuance of common shares through initial public offering	129				—				—				—				—				129			NM			129				—				129			NM
Shares repurchased	—				—				—				—				—				—			NM			—				—				—			NM
Ending common shares outstanding	834				705				705				705				705				129			18.3	%		834				705				129			18.3	%
Weighted average common shares outstanding	782				705				705				705				705				77			10.9	%		731				705				26			3.7	%
Weighted average common shares outstanding (fully diluted)	782				705				705				705				705				77			10.9	%		731				705				26			3.7	%
(1) Tangible Common Equity ("TCE") is a non-GAAP measure. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.

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SYNCHRONY FINANCIAL
SELECTED METRICS
(unaudited, $ in millions, except account data)
	Quarter Ended																										Nine months ended
	Sep 30, 2014				Jun 30, 2014				Mar 31, 2014				Dec 31, 2013				Sep 30, 2013				3Q'14 vs. 3Q'13						Sep 30, 2014				Sep 30, 2013				YTD'14 vs. YTD'13
PERFORMANCE METRICS
Return on assets(1)	3.2		%		3.1		%		3.9		%		3.0		%		4.7		%					(1.5	)%		3.4		%		3.7		%					(0.3	)%
Return on equity(2)	26.8		%		29.9		%		35.3		%		31.1		%		48.8		%					(22.0	)%		29.7		%		39.7		%					(10.0	)%
Return on tangible common equity(3)	32.4		%		38.5		%		44.2		%		40.0		%		63.8		%					(31.4	)%		36.7		%		52.1		%					(15.4	)%
Net interest margin(4)	17.11		%		17.84		%		18.83		%		19.30		%		19.69		%					(2.58	)%		17.80		%		18.74		%					(0.94	)%
Efficiency ratio(5)	31.9		%		35.5		%		26.9		%		34.8		%		26.9		%					5.0	%		31.5		%		26.3		%					5.2	%
Other expense as a % of average loan receivables, including held for sale	5.09		%		5.77		%		4.51		%		5.77		%		4.39		%					0.70	%		5.11		%		4.37		%					0.74	%
Effective income tax rate	37.7		%		38.2		%		37.3		%		36.0		%		37.2		%					0.5	%		37.7		%		37.3		%					0.4	%
CREDIT QUALITY METRICS
Net charge-offs as a % of average loan receivables, including held for sale	4.05		%		4.88		%		4.86		%		5.13		%		4.07		%					(0.02	)%		4.57		%		4.52		%					0.05	%
30+ days past due as a % of period-end loan receivables	4.26		%		3.82		%		4.09		%		4.35		%		4.32		%					(0.06	)%		4.26		%		4.32		%					(0.06	)%
90+ days past due as a % of period-end loan receivables	1.85		%		1.65		%		1.93		%		1.96		%		1.83		%					0.02	%		1.85		%		1.83		%					0.02	%
Net charge-offs	$	579			$	673			$	658			$	718			$	533			$	46		8.6	%		$	1,910			$	1,736			$	174		10.0	%
Loan receivables delinquent over 30 days	$	2,416			$	2,097			$	2,220			$	2,488			$	2,299			$	117		5.1	%		$	2,416			$	2,299			$	117		5.1	%
Loan receivables delinquent over 90 days	$	1,051			$	908			$	1,046			$	1,121			$	974			$	77		7.9	%		$	1,051			$	974			$	77		7.9	%
Allowance for loan losses (period-end)	$	3,102			$	3,006			$	2,998			$	2,892			$	2,792			$	310		11.1	%		$	3,102			$	2,792			$	310		11.1	%
Allowance coverage ratio(6)	5.46		%		5.48		%		5.52		%		5.05		%		5.24		%					0.22	%		5.46		%		5.24		%					0.22	%
BUSINESS METRICS
Purchase volume(7)	$	26,004			$	25,978			$	21,086			$	27,002			$	23,499			$	2,505		10.7	%		$	73,068			$	66,856			$	6,212		9.3	%
Period-end loan receivables	$	56,767			$	54,873			$	54,285			$	57,254			$	53,265			$	3,502		6.6	%		$	56,767			$	53,265			$	3,502		6.6	%
Average loan receivables, including held for sale	$	57,391			$	55,363			$	55,495			$	54,895			$	52,580			$	4,811		9.1	%		$	56,238			$	51,488			$	4,750		9.2	%
Period-end active accounts (in thousands)(8)	60,489				59,248				57,349				61,957				56,703				3,786			6.7	%		60,489				56,703				3,786			6.7	%
Average active accounts (in thousands)(8)	59,907				58,386				59,342				58,402				56,171				3,736			6.7	%		59,394				55,523				3,871			7.0	%
LIQUIDITY
Liquidity portfolio
Cash and equivalents	$	14,808			$	6,782			$	5,331			$	2,319			$	2,670			$	12,138		NM			$	14,808			$	2,670			$	12,138		NM
Total liquidity portfolio	$	14,077			$	6,119			$	4,806			$	2,058			$	2,099			$	11,978		NM			$	14,077			$	2,099			$	11,978		NM
Undrawn credit facilities
Undrawn committed securitization financings	$	5,650			$	5,650			$	450			$	—			$	—			$	5,650		NM			$	5,650			$	—			$	5,650		NM
Total liquidity portfolio and undrawn credit facilities	$	19,727			$	11,769			$	5,256			$	2,058			$	2,099			$	17,628		NM			$	19,727			$	2,099			$	17,628		NM
Liquidity portfolio as a % of total assets	19.16		%		9.69		%		8.11		%		3.48		%		3.78		%					15.38	%		19.16		%		3.78		%					15.38	%
Liquidity portfolio including undrawn committed securitization financings as a % of total assets	26.85		%		18.63		%		8.87		%		3.48		%		3.78		%					23.07	%		26.85		%		3.78		%					23.07	%
(1) Return on assets represents net earnings as a percentage of average total assets.
(2) Return on equity represents net earnings as a percentage of average total equity.
(3) Return on tangible common equity represents net earnings as a percentage of average tangible common equity. Tangible Common Equity ("TCE") is a non-GAAP measure. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
(4) Net interest margin represents net interest income divided by average interest earning assets.
(5) Efficiency ratio represents (i) other expense, divided by (ii) net interest income, after retailer share arrangements, plus other income.
(6) Allowance coverage ratio represents allowance for loan losses divided by total period-end loan receivables.
(7) Purchase volume, or net credit sales, represents the aggregate amount of charges incurred on credit cards or other credit product accounts less returns during the period.
(8) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month.

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SYNCHRONY FINANCIAL
STATEMENTS OF EARNINGS
(unaudited, $ in millions)
	Quarter Ended																										Nine months ended
	Sep 30, 2014				Jun 30, 2014				Mar 31, 2014				Dec 31, 2013				Sep 30, 2013				3Q'14 vs. 3Q'13						Sep 30, 2014				Sep 30, 2013				YTD'14 vs. YTD'13
Interest income:
Interest and fees on loans	$	3,116			$	2,920			$	2,928			$	3,032			$	2,883			$	233		8.1	%		$	8,964			$	8,263			$	701		8.5	%
Interest on investment securities	7				6				5				5				3				4			133.3	%		18				13				5			38.5	%
Total interest income	3,123				2,926				2,933				3,037				2,886				237			8.2	%		8,982				8,276				706			8.5	%
Interest expense:
Interest on deposits	126				109				96				93				94				32			34.0	%		331				281				50			17.8	%
Interest on borrowings of consolidated securitization entities	57				54				47				49				51				6			11.8	%		158				162				(4		)	(2.5	)%
Interest on related party debt	15				43				47				46				38				(23		)	(60.5	)%		105				111				(6		)	(5.4	)%
Interest on third party debt	46				—				—				—				—				46			NM			46				—				46			NM
Total interest expense	244				206				190				188				183				61			33.3	%		640				554				86			15.5	%
Net interest income	2,879				2,720				2,743				2,849				2,703				176			6.5	%		8,342				7,722				620			8.0	%
Retailer share arrangements	(693		)		(590		)		(594		)		(662		)		(680		)		(13		)	1.9	%		(1,877		)		(1,711		)		(166		)	9.7	%
Net interest income, after retailer share arrangements	2,186				2,130				2,149				2,187				2,023				163			8.1	%		6,465				6,011				454			7.6	%
Provision for loan losses	675				681				764				818				541				134			24.8	%		2,120				2,254				(134		)	(5.9	)%
Net interest income, after retailer share arrangements and provision for loan losses	1,511				1,449				1,385				1,369				1,482				29			2.0	%		4,345				3,757				588			15.7	%
Other income:
Interchange revenue	101				92				76				89				82				19			23.2	%		269				235				34			14.5	%
Debt cancellation fees	68				70				70				88				74				(6		)	(8.1	)%		208				236				(28		)	(11.9	)%
Loyalty programs	(84		)		(63		)		(43		)		(57		)		(58		)		(26		)	44.8	%		(190		)		(156		)		(34		)	21.8	%
Other	11				13				12				10				16				(5		)	(31.3	)%		36				55				(19		)	(34.5	)%
Total other income	96				112				115				130				114				(18		)	(15.8	)%		323				370				(47		)	(12.7	)%
Other expense:
Employee costs	239				207				193				190				173				66			38.2	%		639				508				131			25.8	%
Professional fees	159				155				141				157				120				39			32.5	%		455				329				126			38.3	%
Marketing and business development	115				97				83				117				54				61			113.0	%		295				152				143			94.1	%
Information processing	47				53				52				52				47				—			—	%		152				141				11			7.8	%
Other	168				285				141				291				181				(13		)	(7.2	)%		594				547				47			8.6	%
Total other expense	728				797				610				807				575				153			26.6	%		2,135				1,677				458			27.3	%
Earnings before provision for income taxes	879				764				890				692				1,021				(142		)	(13.9	)%		2,533				2,450				83			3.4	%
Provision for income taxes	331				292				332				249				380				(49		)	(12.9	)%		955				914				41			4.5	%
Net earnings attributable to common shareholders	$	548			$	472			$	558			$	443			$	641			$	(93	)	(14.5	)%		$	1,578			$	1,536			$	42		2.7	%

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SYNCHRONY FINANCIAL
STATEMENTS OF FINANCIAL POSITION
(unaudited, $ in millions)
	Quarter Ended
	Sep 30, 2014				Jun 30, 2014				Mar 31, 2014				Dec 31, 2013				Sep 30, 2013				Sep 30, 2014 vs. Sep 30, 2013
Assets
Cash and equivalents	$	14,808			$	6,782			$	5,331			$	2,319			$	2,670			$	12,138		NM
Investment securities	325				298				265				236				233				92			39.5	%
Loan receivables:
Unsecuritized loans held for investment	30,474				28,280				29,101				31,183				28,102				2,372			8.4	%
Restricted loans of consolidated securitization entities	26,293				26,593				25,184				26,071				25,163				1,130			4.5	%
Total loan receivables	56,767				54,873				54,285				57,254				53,265				3,502			6.6	%
Less: Allowance for loan losses	(3,102		)		(3,006		)		(2,998		)		(2,892		)		(2,792		)		(310		)	11.1	%
Loan receivables, net	53,665				51,867				51,287				54,362				50,473				3,192			6.3	%
Loan receivables held for sale	1,493				1,458				—				—				—				1,493			NM
Goodwill	949				949				949				949				957				(8		)	(0.8	)%
Intangible assets, net	449				463				464				300				290				159			54.8	%
Other assets	1,780				1,358				949				919				882				898			101.8	%
Total assets	$	73,469			$	63,175			$	59,245			$	59,085			$	55,505			$	17,964		32.4	%
Liabilities and Equity
Deposits:
Interest bearing deposit accounts	$	32,480			$	30,258			$	27,123			$	25,360			$	21,712			$	10,768		49.6	%
Non-interest bearing deposit accounts	209				204				235				359				450				(241		)	(53.6	)%
Total deposits	32,689				30,462				27,358				25,719				22,162				10,527			47.5	%
Borrowings:
Borrowings of consolidated securitization entities	15,091				15,114				14,642				15,362				15,395				(304		)	(2.0	)%
Related party debt	1,405				7,859				8,062				8,959				9,270				(7,865		)	(84.8	)%
Third party debt	11,088				—				—				—				—				11,088			NM
Total borrowings	27,584				22,973				22,704				24,321				24,665				2,919			11.8	%
Accrued expenses and other liabilities	3,255				3,347				3,141				3,085				3,095				160			5.2	%
Total liabilities	63,528				56,782				53,203				53,125				49,922				13,606			27.3	%
Equity:
Parent’s net investment	—				—				6,052				5,973				5,592				(5,592		)	NM
Common stock	1				1				—				—				—				1			NM
Additional paid-in capital	9,401				6,399				—				—				—				9,401			NM
Retained earnings	548				—				—				—				—				548			NM
Accumulated other comprehensive income:	(9		)		(7		)		(10		)		(13		)		(9		)		—			—	%
Total equity	9,941				6,393				6,042				5,960				5,583				4,358			78.1	%
Total liabilities and equity	$	73,469			$	63,175			$	59,245			$	59,085			$	55,505			$	17,964		32.4	%

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SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
	Quarter Ended
	Sep 30, 2014											Jun 30, 2014											Mar 31, 2014											Dec 31, 2013											Sep 30, 2013
					Interest				Average							Interest				Average							Interest				Average							Interest				Average							Interest				Average
	Average				Income/				Yield/			Average				Income/				Yield/			Average				Income/				Yield/			Average				Income/				Yield/			Average				Income/				Yield/
	Balance				Expense				Rate			Balance				Expense				Rate			Balance				Expense				Rate			Balance				Expense				Rate			Balance				Expense				Rate
Assets
Interest earning assets:
Interest earning cash and equivalents	$	9,793			$	4			0.16	%		$	5,489			$	3			0.22	%		$	4,001			$	2			0.21	%		$	2,792			$	2			0.28	%		$	2,266			$	1			0.18	%
Securities available for sale	309				3				3.89	%		285				3				4.22	%		250				3				4.92	%		237				3				4.97	%		227				2				3.53	%
Loan receivables:
Credit cards, including held for sale	54,891				3,054				22.32	%		52,957				2,860				21.66	%		53,211				2,867				22.10	%		52,271				2,963				22.25	%		49,790				2,812				22.65	%
Consumer installment loans	1,070				25				9.37	%		1,004				24				9.59	%		959				23				9.84	%		1,249				29				9.11	%		1,374				33				9.63	%
Commercial credit products	1,412				37				10.51	%		1,387				36				10.41	%		1,311				38				11.89	%		1,362				39				11.24	%		1,404				38				10.86	%
Other	18				—				—	%		15				—				—	%		14				—				—	%		13				1				NM			12				—				—	%
Total loan receivables, including held for sale	57,391				3,116				21.78	%		55,363				2,920				21.16	%		55,495				2,928				21.64	%		54,895				3,032				21.68	%		52,580				2,883				21.99	%
Total interest earning assets	67,493				3,123				18.56	%		61,137				2,926				19.20	%		59,746				2,933				20.13	%		57,924				3,037				20.58	%		55,073				2,886				21.02	%
Non-interest earning assets:
Cash and due from banks	1,260											637											561											533											535
Allowance for loan losses	(3,058		)									(3,005		)									(2,931		)									(2,823		)									(2,799		)
Other assets	2,605											2,446											2,045											2,072											2,097
Total non-interest earning assets	807											78											(325		)									(218		)									(167		)
Total assets	$	68,300										$	61,215										$	59,421										$	57,706										$	54,906
Liabilities
Interest bearing liabilities:
Interest bearing deposit accounts	$	31,459			$	126			1.61	%		$	28,568			$	109			1.53	%		$	26,317			$	96			1.50	%		$	23,857			$	93			1.53	%		$	21,012			$	94			1.79	%
Borrowings of consolidated securitization entities	15,102				57				1.51	%		14,727				54				1.47	%		14,830				47				1.30	%		15,378				49				1.25	%		16,058				51				1.27	%
Related party debt	4,582				15				1.31	%		7,959				43				2.17	%		8,286				47				2.33	%		9,037				46				2.00	%		9,213				38				1.65	%
Third party debt(1)	5,544				46				3.33	%		—				—				—	%		—				—				—	%		—				—				—	%		—				—				—	%
Total interest bearing liabilities	56,687				244				1.73	%		51,254				206				1.61	%		49,433				190				1.58	%		48,272				188				1.53	%		46,283				183				1.59	%
Non-interest bearing liabilities
Non-interest bearing deposit accounts	206											221											331											450											477
Other liabilities	3,208											3,412											3,182											3,391											2,880
Total non-interest bearing liabilities	3,414											3,633											3,513											3,841											3,357
Total liabilities	60,101											54,887											52,946											52,113											49,640
Equity
Total equity	8,199											6,328											6,475											5,593											5,266
Total liabilities and equity	$	68,300										$	61,215										$	59,421										$	57,706										$	54,906
Net interest income					$	2,879										$	2,720										$	2,743										$	2,849										$	2,703
Interest rate spread(2)									16.83	%										17.59	%										18.55	%										19.05	%										19.43	%
Net interest margin(3)									17.11	%										17.84	%										18.83	%										19.30	%										19.69	%
(1) Interest on third party debt calculated above utilizes monthly average balances. The average third party debt balance outstanding, from the date of issuance through September 30, 2014, was $10.8 billion and accrued interest at an effective rate of 2.63%, excluding the impact of a one time charge incurred in connection with the prepayment of the Bank term loan facility.
(2) Interest rate spread represents the difference between the yield on total interest earning assets and the rate on total interest bearing liabilities.
(3) Net interest margin represents net interest income divided by average interest earning assets.

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SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
	Nine months ended Sep 30, 2014											Nine months ended Sep 30, 2013
					Interest				Average							Interest				Average
	Average				Income/				Yield/			Average				Income/				Yield/
	Balance				Expense				Rate			Balance				Expense				Rate
Assets
Interest earning assets:
Interest earning cash and equivalents	$	6,587			$	9			0.18	%		$	3,589			$	7			0.26	%
Securities available for sale	281				9				4.31	%		209				6				3.85	%
Loan receivables:
Credit cards, including held for sale	53,836				8,781				21.97	%		48,745				8,053				22.17	%
Consumer installment loans	1,012				72				9.58	%		1,382				99				9.61	%
Commercial credit products	1,374				111				10.88	%		1,350				111				11.03	%
Other	16				—				—	%		11				—				—	%
Total loan receivables, including held for sale	56,238				8,964				21.47	%		51,488				8,263				21.54	%
Total interest earning assets	63,106				8,982				19.17	%		55,286				8,276				20.09	%
Non-interest earning assets:
Cash and due from banks	863											545
Allowance for loan losses	(2,997		)									(2,609		)
Other assets	2,360											2,013
Total non-interest earning assets	226											(51		)
Total assets	$	63,332										$	55,235
Liabilities
Interest bearing liabilities:
Interest bearing deposit accounts	$	28,799			$	331			1.55	%		$	21,355			$	281			1.77	%
Borrowings of consolidated securitization entities	14,888				158				1.43	%		16,560				162				1.31	%
Related party debt	6,739				105				2.10	%		8,902				111				1.67	%
Third party debt(1)	2,218				46				2.79	%		—				—				—	%
Total interest bearing liabilities	52,644				640				1.64	%		46,817				554				1.59	%
Non-interest bearing liabilities
Non-interest bearing deposit accounts	259											488
Other liabilities	3,272											2,737
Total non-interest bearing liabilities	3,531											3,225
Total liabilities	56,175											50,042
Equity
Total equity	7,157											5,193
Total liabilities and equity	$	63,332										$	55,235
Net interest income					$	8,342										$	7,722
Interest rate spread(2)									17.53	%										18.50	%
Net interest margin(3)									17.80	%										18.74	%
(1) Interest on third party debt calculated above utilizes monthly average balances. The average third party debt balance outstanding, from the date of issuance through September 30, 2014, was $10.8 billion and accrued interest at an effective rate of 2.63%, excluding the impact of a one time charge incurred in connection with the prepayment of the Bank term loan facility.
(2) Interest rate spread represents the difference between the yield on total interest earning assets and the rate on total interest bearing liabilities.
(3) Net interest margin represents net interest income divided by average interest earning assets.

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SYNCHRONY FINANCIAL
BALANCE SHEET STATISTICS
(unaudited, $ in millions, except per share statistics)
	Quarter Ended
	Sep 30, 2014				Jun 30, 2014				Mar 31, 2014				Dec 31, 2013				Sep 30, 2013				Sep 30, 2014 vs. Sep 30, 2013
BALANCE SHEET STATISTICS
Total common equity	$	9,941			$	6,393			$	6,042			$	5,960			$	5,583			$	4,358		78.1	%
Total common equity as a % of total assets	13.53		%		10.12		%		10.20		%		10.09		%		10.06		%					3.47	%
Tangible assets	$	72,071			$	61,763			$	57,832			$	57,836			$	54,258			$	17,813		32.8	%
Tangible common equity(1)	$	8,543			$	4,981			$	4,629			$	4,711			$	4,336			$	4,207		97.0	%
Tangible common equity as a % of tangible assets(1)	11.85		%		8.06		%		8.00		%		8.15		%		7.99		%					3.86	%
Tangible common equity per share(1)	$	10.24			$	7.07			$	6.57			$	6.68			$	6.15			$	4.09		66.5	%
REGULATORY CAPITAL RATIOS(2)
Basel I
Total risk-based capital ratio(3)	16.4		%
Tier 1 risk-based capital ratio(4)	15.1		%
Tier 1 common ratio(5)	15.1		%
Tier 1 leverage ratio(6)	12.2		%
Basel III
Tier 1 common ratio(7)	14.6		%
(1) Tangible Common Equity ("TCE") is a non-GAAP measure. We believe TCE is a more meaningful measure to investors of the net asset value of the Company. For corresponding reconciliation of TCE to a GAAP financial measure see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
(2) Regulatory capital metrics as of the end of 3Q 2014 are preliminary and therefore subject to change. As a new savings and loan holding company, the Company historically has not been required by regulators to disclose capital ratios, and therefore these ratios are non-GAAP measures. See Reconciliation of Non-GAAP Measures and Calculation of Regulatory Measures for components of capital ratio calculations.
(3) Total risk-based capital ratio is the ratio of total risk-based capital divided by risk-weighted assets.
(4) Tier 1 risk-based capital ratio is the ratio of Tier 1 capital divided by risk-weighted assets.
(5) Tier 1 common ratio is the ratio of common equity Tier 1 capital divided by risk-weighted assets.
(6) Tier 1 leverage ratio is calculated based on Tier 1 capital divided by total assets, after certain adjustments.
(7) Our Basel III Tier 1 common ratio is the ratio of common equity Tier 1 capital to total risk-weighted assets, each as calculated in accordance with the U.S. Basel III capital rules (on a fully phased-in basis). Our Basel III Tier 1 common ratio is a preliminary estimate reflecting management’s interpretation of the final Basel III capital rules adopted in July 2013 by the Federal Reserve Board, which have not been fully implemented, and our estimate and interpretations are subject to, among other things, ongoing regulatory review and implementation guidance.

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SYNCHRONY FINANCIAL
PLATFORM RESULTS AND RECONCILIATION OF NON-GAAP MEASURES
(unaudited, $ in millions)
	Quarter Ended																										Nine months ended
	Sep 30, 2014				Jun 30, 2014				Mar 31, 2014				Dec 31, 2013				Sep 30, 2013				3Q'14 vs. 3Q'13						Sep 30, 2014				Sep 30, 2013				YTD'14 vs. YTD'13
RETAIL CARD
Purchase volume(1),(2)	$	20,991			$	21,032			$	16,713			$	22,199			$	18,840			$	2,151		11.4	%		$	58,736			$	53,540			$	5,196		9.7	%
Period-end loan receivables	$	38,466			$	37,238			$	37,175			$	39,834			$	36,137			$	2,329		6.4	%		$	38,466			$	36,137			$	2,329		6.4	%
Average loan receivables, including held for sale	$	39,411			$	38,047			$	38,223			$	37,576			$	35,754			$	3,657		10.2	%		$	38,685			$	35,037			$	3,648		10.4	%
Average active accounts (in thousands)(2),(3)	48,433				47,248				48,168				47,455				45,617				2,816			6.2	%		48,116				45,128				2,988			6.6	%
Interest and fees on loans(2)	$	2,299			$	2,158			$	2,178			$	2,234			$	2,119			$	180		8.5	%		$	6,635			$	6,083			$	552		9.1	%
Other income(2)	78				92				96				113				95				(17		)	(17.9	)%		266				306				(40		)	(13.1	)%
Platform revenue, excluding retailer share arrangements(2)	2,377				2,250				2,274				2,347				2,214				163			7.4	%		6,901				6,389				512			8.0	%
Retailer share arrangements(2)	(683		)		(577		)		(584		)		(651		)		(670		)		(13		)	1.9	%		(1,844		)		(1,680		)		(164		)	9.8	%
Platform revenue(2)	$	1,694			$	1,673			$	1,690			$	1,696			$	1,544			$	150		9.7	%		$	5,057			$	4,709			$	348		7.4	%
PAYMENT SOLUTIONS
Purchase volume(1)	$	3,226			$	3,115			$	2,687			$	3,111			$	2,963			$	263		8.9	%		$	9,028			$	8,249			$	779		9.4	%
Period-end loan receivables	$	11,514			$	11,014			$	10,647			$	10,893			$	10,731			$	783		7.3	%		$	11,514			$	10,731			$	783		7.3	%
Average loan receivables	$	11,267			$	10,785			$	10,775			$	10,844			$	10,526			$	741		7.0	%		$	10,965			$	10,342			$	623		6.0	%
Average active accounts (in thousands)(3)	6,892				6,692				6,737				6,566				6,310				582			9.2	%		6,784				6,234				550			8.8	%
Interest and fees on loans	$	405			$	379			$	372			$	399			$	383			$	22		5.7	%		$	1,156			$	1,107			$	49		4.4	%
Other income	7				8				8				4				9				(2		)	(22.2	)%		23				32				(9		)	(28.1	)%
Platform revenue, excluding retailer share arrangements	412				387				380				403				392				20			5.1	%		1,179				1,139				40			3.5	%
Retailer share arrangements	(9		)		(12		)		(9		)		(9		)		(10		)		1			(10.0	)%		(30		)		(27		)		(3		)	11.1	%
Platform revenue	$	403			$	375			$	371			$	394			$	382			$	21		5.5	%		$	1,149			$	1,112			$	37		3.3	%
CARECREDIT
Purchase volume(1)	$	1,787			$	1,831			$	1,686			$	1,692			$	1,696			$	91		5.4	%		$	5,304			$	5,067			$	237		4.7	%
Period-end loan receivables	$	6,787			$	6,621			$	6,463			$	6,527			$	6,397			$	390		6.1	%		$	6,787			$	6,397			$	390		6.1	%
Average loan receivables	$	6,713			$	6,531			$	6,497			$	6,475			$	6,300			$	413		6.6	%		$	6,588			$	6,109			$	479		7.8	%
Average active accounts (in thousands)(3)	4,582				4,446				4,437				4,381				4,244				338			8.0	%		4,494				4,161				333			8.0	%
Interest and fees on loans	$	412			$	383			$	378			$	399			$	381			$	31		8.1	%		$	1,173			$	1,073			$	100		9.3	%
Other income	11				12				11				13				10				1			10.0	%		34				32				2			6.3	%
Platform revenue, excluding retailer share arrangements	423				395				389				412				391				32			8.2	%		1,207				1,105				102			9.2	%
Retailer share arrangements	(1		)		(1		)		(1		)		(2		)		—				(1		)	NM			(3		)		(4		)		1			(25.0	)%
Platform revenue	$	422			$	394			$	388			$	410			$	391			$	31		7.9	%		$	1,204			$	1,101			$	103		9.4	%
TOTAL SYNCHRONY FINANCIAL
Purchase volume(1),(2)	$	26,004			$	25,978			$	21,086			$	27,002			$	23,499			$	2,505		10.7	%		$	73,068			$	66,856			$	6,212		9.3	%
Period-end loan receivables	$	56,767			$	54,873			$	54,285			$	57,254			$	53,265			$	3,502		6.6	%		$	56,767			$	53,265			$	3,502		6.6	%
Average loan receivables, including held for sale	$	57,391			$	55,363			$	55,495			$	54,895			$	52,580			$	4,811		9.1	%		$	56,238			$	51,488			$	4,750		9.2	%
Average active accounts (in thousands)(2),(3)	59,907				58,386				59,342				58,402				56,171				3,736			6.7	%		59,394				55,523				3,871			7.0	%
Interest and fees on loans(2)	$	3,116			$	2,920			$	2,928			$	3,032			$	2,883			$	233		8.1	%		$	8,964			$	8,263			$	701		8.5	%
Other income(2)	96				112				115				130				114				(18		)	(15.8	)%		323				370				(47		)	(12.7	)%
Platform revenue, excluding retailer share arrangements(2)	3,212				3,032				3,043				3,162				2,997				215			7.2	%		9,287				8,633				654			7.6	%
Retailer share arrangements(2)	(693		)		(590		)		(594		)		(662		)		(680		)		(13		)	1.9	%		(1,877		)		(1,711		)		(166		)	9.7	%
Platform revenue(2)	$	2,519			$	2,442			$	2,449			$	2,500			$	2,317			$	202		8.7	%		$	7,410			$	6,922			$	488		7.0	%
(1) Purchase volume, or net credit sales, represents the aggregate amount of charges incurred on credit cards or other credit product accounts less returns during the period.
(2) Includes activity and balances associated with loan receivables held for sale.
(3) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month.

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SYNCHRONY FINANCIAL
RECONCILIATION OF NON-GAAP MEASURES AND CALCULATIONS OF REGULATORY MEASURES
(unaudited, $ in millions, except per share statistics)
	Quarter Ended
	Sep 30, 2014				Jun 30, 2014				Mar 31, 2014				Dec 31, 2013				Sep 30, 2013
COMMON EQUITY MEASURES
GAAP Total common equity	$	9,941			$	6,393			$	6,042			$	5,960			$	5,583
Less: Goodwill	(949		)		(949		)		(949		)		(949		)		(957		)
Less: Intangible assets, net	(449		)		(463		)		(464		)		(300		)		(290		)
Tangible common equity	$	8,543			$	4,981			$	4,629			$	4,711			$	4,336
Adjustments for certain other intangible assets, deferred tax liabilities and certain items in accumulated comprehensive income (loss)	292
Basel I - Tier 1 capital and Tier 1 common equity	$	8,835
Adjustments for certain other intangible assets and deferred tax liabilities	(24		)
Basel III - Tier I common equity	$	8,811
RISK-BASED CAPITAL
Basel I - Tier 1 capital and Tier 1 common equity	$	8,835
Add: Allowance for loan losses includible in risk-based capital	760
Basel I - Risk-based capital	$	9,595
ASSET MEASURES
Total assets	$	73,469
Less: Disallowed goodwill and other disallowed intangible assets, net of related deferred tax liabilities	(1,110		)
Less: Unrealized (gains) / losses on investment securities	4
Total assets for leverage purposes - Basel I	$	72,363
Risk-weighted assets - Basel I	$	58,457
Additional risk weighting adjustments related to:
Deferred taxes	1,319
Loan receivables delinquent over 90 days	682
Other	—
Risk-weighted assets - Basel III (fully phased in)	$	60,458
TANGIBLE COMMON EQUITY PER SHARE
GAAP book value per share	$	11.92			$	9.07			$	8.57			$	8.45			$	7.92
Less: Goodwill	(1.14		)		(1.34		)		(1.34		)		(1.34		)		(1.36		)
Less: Intangible assets, net	(0.54		)		(0.66		)		(0.66		)		(0.43		)		(0.41		)
Tangible common equity per share	$	10.24			$	7.07			$	6.57			$	6.68			$	6.15

9