Exhibit 99.2

SYNCHRONY FINANCIAL
FINANCIAL SUMMARY
(unaudited, in millions, except per share statistics)
	Quarter Ended																										Nine Months Ended
	Sep 30, 2015				Jun 30, 2015				Mar 31, 2015				Dec 31, 2014				Sep 30, 2014				3Q'15 vs. 3Q'14						Sep 30, 2015				Sep 30, 2014				YTD'15 vs. YTD'14
EARNINGS
Net interest income	$	3,103			$	2,907			$	2,875			$	2,978			$	2,879			$	224		7.8	%		$	8,885			$	8,342			$	543		6.5	%
Retailer share arrangements	(723		)		(621		)		(660		)		(698		)		(693		)		(30		)	4.3	%		(2,004		)		(1,877		)		(127		)	6.8	%
Net interest income, after retailer share arrangements	2,380				2,286				2,215				2,280				2,186				194			8.9	%		6,881				6,465				416			6.4	%
Provision for loan losses	702				740				687				797				675				27			4.0	%		2,129				2,120				9			0.4	%
Net interest income, after retailer share arrangements and provision for loan losses	1,678				1,546				1,528				1,483				1,511				167			11.1	%		4,752				4,345				407			9.4	%
Other income	84				120				101				162				96				(12		)	(12.5	)%		305				323				(18		)	(5.6	)%
Other expense	843				805				746				792				728				115			15.8	%		2,394				2,135				259			12.1	%
Earnings before provision for income taxes	919				861				883				853				879				40			4.6	%		2,663				2,533				130			5.1	%
Provision for income taxes	345				320				331				322				331				14			4.2	%		996				955				41			4.3	%
Net earnings	$	574			$	541			$	552			$	531			$	548			$	26		4.7	%		$	1,667			$	1,578			$	89		5.6	%
Net earnings attributable to common stockholders	$	574			$	541			$	552			$	531			$	548			$	26		4.7	%		$	1,667			$	1,578			$	89		5.6	%
COMMON SHARE STATISTICS
Basic EPS	$	0.69			$	0.65			$	0.66			$	0.64			$	0.70			$	(0.01	)	(1.4	)%		$	2.00			$	2.16			$	(0.16	)	(7.4	)%
Diluted EPS	$	0.69			$	0.65			$	0.66			$	0.64			$	0.70			$	(0.01	)	(1.4	)%		$	2.00			$	2.16			$	(0.16	)	(7.4	)%
Common stock price	$	31.30			$	32.93			$	30.35			$	29.75			$	24.55			$	6.75		27.5	%		$	31.30			$	24.55			$	6.75		27.5	%
Book value per share	$	14.58			$	13.89			$	13.24			$	12.57			$	11.92			$	2.66		22.3	%		$	14.58			$	11.92			$	2.66		22.3	%
Tangible book value per share(1)	$	12.67			$	12.06			$	11.43			$	10.81			$	10.25			$	2.42		23.6	%		$	12.67			$	10.25			$	2.42		23.6	%
Beginning common shares outstanding	833.8				833.8				833.8				833.8				705.3				128.5			18.2	%		833.8				705.3				128.5			18.2	%
Issuance of common shares through initial public offering	—				—				—				—				128.5				(128.5		)	(100.0	)%		—				128.5				(128.5		)	(100.0	)%
Shares repurchased	—				—				—				—				—				—			—	%		—				—				—			—	%
Ending common shares outstanding	833.8				833.8				833.8				833.8				833.8				—			—	%		833.8				833.8				—			—	%
Weighted average common shares outstanding	833.8				833.8				833.8				833.8				781.8				52.0			6.7	%		833.8				731.0				102.8			14.1	%
Weighted average common shares outstanding (fully diluted)	835.8				835.4				835.0				834.3				781.9				53.9			6.9	%		835.4				731.0				104.4			14.3	%
(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.

1

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SYNCHRONY FINANCIAL
SELECTED METRICS
(unaudited, $ in millions, except account data)
	Quarter Ended																										Nine Months Ended
	Sep 30, 2015				Jun 30, 2015				Mar 31, 2015				Dec 31, 2014				Sep 30, 2014				3Q'15 vs. 3Q'14						Sep 30, 2015				Sep 30, 2014				YTD'15 vs. YTD'14
PERFORMANCE METRICS
Return on assets(1)	2.9		%		2.9		%		3.0		%		2.7		%		3.2		%					(0.3	)%		3.0		%		3.4		%					(0.4	)%
Return on equity(2)	19.2		%		19.2		%		20.8		%		20.2		%		26.8		%					(7.6	)%		19.7		%		29.7		%					(10.0	)%
Return on tangible common equity(3)	22.0		%		22.2		%		24.1		%		23.4		%		32.4		%					(10.4	)%		22.7		%		36.7		%					(14.0	)%
Net interest margin(4)	15.97		%		15.77		%		15.79		%		15.60		%		17.11		%					(1.14	)%		15.81		%		17.80		%					(1.99	)%
Efficiency ratio(5)	34.2		%		33.5		%		32.2		%		32.4		%		31.9		%					2.3	%		33.3		%		31.5		%					1.8	%
Other expense as a % of average loan receivables, including held for sale	5.35		%		5.37		%		5.06		%		5.16		%		5.09		%					0.26	%		5.25		%		5.11		%					0.14	%
Effective income tax rate	37.5		%		37.2		%		37.5		%		37.7		%		37.7		%					(0.2	)%		37.4		%		37.7		%					(0.3	)%
CREDIT QUALITY METRICS
Net charge-offs as a % of average loan receivables, including held for sale	4.02		%		4.63		%		4.53		%		4.32		%		4.05		%					(0.03	)%		4.37		%		4.57		%					(0.20	)%
30+ days past due as a % of period-end loan receivables	4.02		%		3.53		%		3.79		%		4.14		%		4.26		%					(0.24	)%		4.02		%		4.26		%					(0.24	)%
90+ days past due as a % of period-end loan receivables	1.73		%		1.52		%		1.81		%		1.90		%		1.85		%					(0.12	)%		1.73		%		1.85		%					(0.12	)%
Net charge-offs	$	633			$	693			$	668			$	663			$	579			$	54		9.3	%		$	1,994			$	1,910			$	84		4.4	%
Loan receivables delinquent over 30 days	$	2,553			$	2,171			$	2,209			$	2,536			$	2,416			$	137		5.7	%		$	2,553			$	2,416			$	137		5.7	%
Loan receivables delinquent over 90 days	$	1,102			$	933			$	1,056			$	1,162			$	1,051			$	51		4.9	%		$	1,102			$	1,051			$	51		4.9	%
Allowance for loan losses (period-end)	$	3,371			$	3,302			$	3,255			$	3,236			$	3,102			$	269		8.7	%		$	3,371			$	3,102			$	269		8.7	%
Allowance coverage ratio(6)	5.31		%		5.38		%		5.59		%		5.28		%		5.46		%					(0.15	)%		5.31		%		5.46		%					(0.15	)%
BUSINESS METRICS
Purchase volume(7)	$	29,206			$	28,810			$	23,139			$	30,081			$	26,004			$	3,202		12.3	%		$	81,155			$	73,068			$	8,087		11.1	%
Period-end loan receivables	$	63,520			$	61,431			$	58,248			$	61,286			$	56,767			$	6,753		11.9	%		$	63,520			$	56,767			$	6,753		11.9	%
Credit cards	$	60,920			$	58,827			$	55,866			$	58,880			$	54,263			$	6,657		12.3	%		$	60,920			$	54,263			$	6,657		12.3	%
Consumer installment loans	$	1,171			$	1,138			$	1,062			$	1,063			$	1,081			$	90		8.3	%		$	1,171			$	1,081			$	90		8.3	%
Commercial credit products	$	1,380			$	1,410			$	1,295			$	1,320			$	1,404			$	(24	)	(1.7	)%		$	1,380			$	1,404			$	(24	)	(1.7	)%
Other	$	49			$	56			$	25			$	23			$	19			$	30		157.9	%		$	49			$	19			$	30		157.9	%
Average loan receivables, including held for sale	$	62,504			$	60,094			$	59,775			$	59,547			$	57,391			$	5,113		8.9	%		$	60,946			$	56,238			$	4,708		8.4	%
Period-end active accounts (in thousands)(8)	62,831				61,718				59,761				64,286				60,489				2,342			3.9	%		62,831				60,489				2,342			3.9	%
Average active accounts (in thousands)(8)	62,247				60,923				61,604				61,667				59,907				2,340			3.9	%		61,762				59,394				2,368			4.0	%
LIQUIDITY
Liquid assets
Cash and equivalents	$	12,271			$	10,621			$	11,218			$	11,828			$	14,808			$	(2,537	)	(17.1	)%		$	12,271			$	14,808			$	(2,537	)	(17.1	)%
Total liquid assets	$	15,305			$	13,660			$	13,813			$	12,942			$	14,077			$	1,228		8.7	%		$	15,305			$	14,077			$	1,228		8.7	%
Undrawn credit facilities
Undrawn committed securitization financings	$	6,550			$	6,125			$	6,600			$	6,100			$	5,650			$	900		15.9	%		$	6,550			$	5,650			$	900		15.9	%
Total liquid assets and undrawn credit facilities	$	21,855			$	19,785			$	20,413			$	19,042			$	19,727			$	2,128		10.8	%		$	21,855			$	19,727			$	2,128		10.8	%
Liquid assets % of total assets	19.27		%		18.03		%		18.99		%		17.09		%		19.16		%					0.11	%		19.27		%		19.16		%					0.11	%
Liquid assets including undrawn committed securitization financings % of total assets	27.51		%		26.12		%		28.07		%		25.15		%		26.85		%					0.66	%		27.51		%		26.85		%					0.66	%
(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, 2015				Jun 30, 2015				Mar 31, 2015				Dec 31, 2014				Sep 30, 2014				3Q'15 vs. 3Q'14						Sep 30, 2015				Sep 30, 2014				YTD'15 vs. YTD'14
Interest income:
Interest and fees on loans	$	3,379			$	3,166			$	3,140			$	3,252			$	3,116			$	263		8.4	%		$	9,685			$	8,964			$	721		8.0	%
Interest on investment securities	13				11				10				8				7				6			85.7	%		34				18				16			88.9	%
Total interest income	3,392				3,177				3,150				3,260				3,123				269			8.6	%		9,719				8,982				737			8.2	%
Interest expense:
Interest on deposits	159				146				137				139				126				33			26.2	%		442				331				111			33.5	%
Interest on borrowings of consolidated securitization entities	54				53				52				57				57				(3		)	(5.3	)%		159				158				1			0.6	%
Interest on third-party debt	76				71				82				78				46				30			65.2	%		229				46				183			NM
Interest on related party debt	—				—				4				8				15				(15		)	(100.0	)%		4				105				(101		)	(96.2	)%
Total interest expense	289				270				275				282				244				45			18.4	%		834				640				194			30.3	%
Net interest income	3,103				2,907				2,875				2,978				2,879				224			7.8	%		8,885				8,342				543			6.5	%
Retailer share arrangements	(723		)		(621		)		(660		)		(698		)		(693		)		(30		)	4.3	%		(2,004		)		(1,877		)		(127		)	6.8	%
Net interest income, after retailer share arrangements	2,380				2,286				2,215				2,280				2,186				194			8.9	%		6,881				6,465				416			6.4	%
Provision for loan losses	702				740				687				797				675				27			4.0	%		2,129				2,120				9			0.4	%
Net interest income, after retailer share arrangements and provision for loan losses	1,678				1,546				1,528				1,483				1,511				167			11.1	%		4,752				4,345				407			9.4	%
Other income:
Interchange revenue	135				123				100				120				101				34			33.7	%		358				269				89			33.1	%
Debt cancellation fees	61				61				65				67				68				(7		)	(10.3	)%		187				208				(21		)	(10.1	)%
Loyalty programs	(122		)		(94		)		(78		)		(91		)		(84		)		(38		)	45.2	%		(294		)		(190		)		(104		)	54.7	%
Other	10				30				14				66				11				(1		)	(9.1	)%		54				36				18			50.0	%
Total other income	84				120				101				162				96				(12		)	(12.5	)%		305				323				(18		)	(5.6	)%
Other expense:
Employee costs	268				250				239				227				239				29			12.1	%		757				639				118			18.5	%
Professional fees(1)	162				156				162				139				149				13			8.7	%		480				424				56			13.2	%
Marketing and business development	115				108				82				165				115				—			—	%		305				295				10			3.4	%
Information processing	77				74				63				60				47				30			63.8	%		214				152				62			40.8	%
Other(1)	221				217				200				201				178				43			24.2	%		638				625				13			2.1	%
Total other expense	843				805				746				792				728				115			15.8	%		2,394				2,135				259			12.1	%
Earnings before provision for income taxes	919				861				883				853				879				40			4.6	%		2,663				2,533				130			5.1	%
Provision for income taxes	345				320				331				322				331				14			4.2	%		996				955				41			4.3	%
Net earnings attributable to common shareholders	$	574			$	541			$	552			$	531			$	548			$	26		4.7	%		$	1,667			$	1,578			$	89		5.6	%
(1) We have reclassified certain amounts within Professional fees to Other for all periods in 2014 to conform to the current period classifications.

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SYNCHRONY FINANCIAL
STATEMENTS OF FINANCIAL POSITION
(unaudited, $ in millions)
	Quarter Ended
	Sep 30, 2015				Jun 30, 2015				Mar 31, 2015				Dec 31, 2014				Sep 30, 2014				Sep 30, 2015 vs. Sep 30, 2014
Assets
Cash and equivalents	$	12,271			$	10,621			$	11,218			$	11,828			$	14,808			$	(2,537	)	(17.1	)%
Investment securities	3,596				3,682				3,121				1,598				325				3,271			NM
Loan receivables:
Unsecuritized loans held for investment	38,325				36,019				33,424				34,335				30,474				7,851			25.8	%
Restricted loans of consolidated securitization entities	25,195				25,412				24,824				26,951				26,293				(1,098		)	(4.2	)%
Total loan receivables	63,520				61,431				58,248				61,286				56,767				6,753			11.9	%
Less: Allowance for loan losses	(3,371		)		(3,302		)		(3,255		)		(3,236		)		(3,102		)		(269		)	8.7	%
Loan receivables, net	60,149				58,129				54,993				58,050				53,665				6,484			12.1	%
Loan receivables held for sale	—				—				359				332				1,493				(1,493		)	(100.0	)%
Goodwill	949				949				949				949				949				—			—	%
Intangible assets, net	646				575				557				519				449				197			43.9	%
Other assets	1,831				1,794				1,524				2,431				1,780				51			2.9	%
Total assets	$	79,442			$	75,750			$	72,721			$	75,707			$	73,469			$	5,973		8.1	%
Liabilities and Equity
Deposits:
Interest-bearing deposit accounts	$	40,408			$	37,629			$	34,788			$	34,847			$	32,480			$	7,928		24.4	%
Non-interest-bearing deposit accounts	140				143				162				108				209				(69		)	(33.0	)%
Total deposits	40,548				37,772				34,950				34,955				32,689				7,859			24.0	%
Borrowings:
Borrowings of consolidated securitization entities	13,640				13,948				13,817				14,967				15,091				(1,451		)	(9.6	)%
Bank term loan	4,651				5,151				5,651				8,245				7,495				(2,844		)	(37.9	)%
Senior unsecured notes	5,590				4,593				4,592				3,593				3,593				1,997			55.6	%
Related party debt	—				—				—				655				1,405				(1,405		)	(100.0	)%
Total borrowings	23,881				23,692				24,060				27,460				27,584				(3,703		)	(13.4	)%
Accrued expenses and other liabilities	2,855				2,708				2,675				2,814				3,255				(400		)	(12.3	)%
Total liabilities	67,284				64,172				61,685				65,229				63,528				3,756			5.9	%
Equity:
Parent’s net investment	—				—				—				—				—				—			—	%
Common stock	1				1				1				1				1				—			—	%
Additional paid-in capital	9,431				9,422				9,418				9,408				9,401				30			0.3	%
Retained earnings	2,746				2,172				1,631				1,079				548				2,198			NM
Accumulated other comprehensive income:	(20		)		(17		)		(14		)		(10		)		(9		)		(11		)	122.2	%
Total equity	12,158				11,578				11,036				10,478				9,941				2,217			22.3	%
Total liabilities and equity	$	79,442			$	75,750			$	72,721			$	75,707			$	73,469			$	5,973		8.1	%

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SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
	Quarter Ended
	September 30, 2015											June 30, 2015											March 31, 2015											December 31, 2014											September 30, 2014
					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	$	11,059			$	7			0.25	%		$	10,728			$	6			0.22	%		$	11,331			$	6			0.21	%		$	13,631			$	7			0.20	%		$	9,793			$	4			0.16	%
Securities available for sale	3,534				6				0.67	%		3,107				5				0.65	%		2,725				4				0.60	%		962				1				0.40	%		309				3				3.89	%
Loan receivables:
Credit cards, including held for sale	59,890				3,315				21.96	%		57,588				3,106				21.63	%		57,390				3,079				21.76	%		57,075				3,186				21.68	%		54,891				3,054				22.32	%
Consumer installment loans	1,160				27				9.23	%		1,101				26				9.47	%		1,057				25				9.59	%		1,072				27				9.78	%		1,070				25				9.37	%
Commercial credit products	1,400				36				10.20	%		1,372				34				9.94	%		1,305				36				11.19	%		1,379				38				10.70	%		1,412				37				10.51	%
Other	54				1				NM			33				—				—	%		23				—				—	%		21				1				NM			18				—				—	%
Total loan receivables, including held for sale	62,504				3,379				21.45	%		60,094				3,166				21.13	%		59,775				3,140				21.30	%		59,547				3,252				21.21	%		57,391				3,116				21.78	%
Total interest-earning assets	77,097				3,392				17.46	%		73,929				3,177				17.24	%		73,831				3,150				17.30	%		74,140				3,260				17.07	%		67,493				3,123				18.56	%
Non-interest-earning assets:
Cash and due from banks	1,216											583											497											1,220											1,260
Allowance for loan losses	(3,341		)									(3,285		)									(3,272		)									(3,160		)									(3,058		)
Other assets	3,023											2,916											2,802											2,831											2,605
Total non-interest-earning assets	898											214											27											891											807
Total assets	$	77,995										$	74,143										$	73,858										$	75,031										$	68,300
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts	$	39,136			$	159			1.61	%		$	35,908			$	146			1.63	%		$	34,981			$	137			1.59	%		$	33,980			$	139			1.59	%		$	31,459			$	126			1.61	%
Borrowings of consolidated securitization entities	13,730				54				1.56	%		14,026				53				1.52	%		14,101				52				1.50	%		14,766				57				1.50	%		15,102				57				1.51	%
Bank term loan(1)	4,901				29				2.35	%		5,401				32				2.38	%		6,531				47				2.92	%		8,057				46				2.22	%		3,747				28				3.00	%
Senior unsecured notes(1)	5,340				47				3.49	%		4,592				39				3.41	%		4,093				35				3.47	%		3,593				32				3.46	%		1,797				18				4.02	%
Related party debt(1)	—				—				—	%		—				—				—	%		407				4				3.99	%		843				8				3.68	%		4,582				15				1.31	%
Total interest-bearing liabilities	63,107				289				1.82	%		59,927				270				1.81	%		60,113				275				1.86	%		61,239				282				1.79	%		56,687				244				1.73	%
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts	149											166											142											182											206
Other liabilities	2,859											2,750											2,854											3,382											3,208
Total non-interest-bearing liabilities	3,008											2,916											2,996											3,564											3,414
Total liabilities	66,115											62,843											63,109											64,803											60,101
Equity
Total equity	11,880											11,300											10,749											10,228											8,199
Total liabilities and equity	$	77,995										$	74,143										$	73,858										$	75,031										$	68,300
Net interest income					$	3,103										$	2,907										$	2,875										$	2,978										$	2,879
Interest rate spread(2)									15.64	%										15.43	%										15.44	%										15.28	%										16.83	%
Net interest margin(3)									15.97	%										15.77	%										15.79	%										15.60	%										17.11	%
(1) Interest on liabilities calculated above utilizes monthly average balances. The effective interest rates for the Bank term loan for the quarters ended September 30, 2015, June 30, 2015, March 31, 2015, December 31, 2014 and September 30, 2014, were 2.23%, 2.21%, 2.21%, 2.19% and 2.21%, respectively. The Bank term loan effective rate excludes the impact of charges incurred in connection with prepayments of the loan.
(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.

5

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SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
	Nine Months Ended Sep 30, 2015											Nine Months Ended Sep 30, 2014
					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	$	11,144			$	19			0.23	%		$	6,587			$	9			0.18	%
Securities available for sale	3,066				15				0.65	%		281				9				4.31	%
Loan receivables:
Credit cards, including held for sale	58,442				9,500				21.73	%		53,836				8,781				21.97	%
Consumer installment loans	1,107				78				9.42	%		1,012				72				9.58	%
Commercial credit products	1,361				106				10.41	%		1,374				111				10.88	%
Other	36				1				NM			16				—				—	%
Total loan receivables, including held for sale	60,946				9,685				21.25	%		56,238				8,964				21.47	%
Total interest-earning assets	75,156				9,719				17.29	%		63,106				8,982				19.17	%
Non-interest-earning assets:
Cash and due from banks	782											863
Allowance for loan losses	(3,304		)									(2,997		)
Other assets	2,917											2,360
Total non-interest-earning assets	395											226
Total assets	$	75,551										$	63,332
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts	$	36,768			$	442			1.61	%		$	28,799			$	331			1.55	%
Borrowings of consolidated securitization entities	13,966				159				1.52	%		14,888				158				1.43	%
Bank term loan(1)	5,653				108				2.55	%		1,499				28				2.52	%
Senior unsecured notes(1)	4,692				121				3.45	%		719				18				3.37	%
Related party debt(1)	163				4				3.28	%		6,739				105				2.10	%
Total interest-bearing liabilities	61,242				834				1.82	%		52,644				640				1.64	%
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts	153											259
Other liabilities	2,846											3,272
Total non-interest-bearing liabilities	2,999											3,531
Total liabilities	64,241											56,175
Equity
Total equity	11,310											7,157
Total liabilities and equity	$	75,551										$	63,332
Net interest income					$	8,885										$	8,342
Interest rate spread(2)									15.47	%										17.53	%
Net interest margin(3)									15.81	%										17.80	%
(1) Interest on liabilities calculated above utilizes monthly average balances. The effective interest rate for the Bank term loan for the 9 months ended September 30, 2015 and September 30, 2014 were 2.22% and 2.21% respectively. The Bank term loan effective rate excludes the impact of charges incurred in connection with the prepayments of the loan. The effective interest rate for the Senior unsecured notes for the 9 months ended September 30, 2014 was 3.62%.
(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.

6

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SYNCHRONY FINANCIAL
BALANCE SHEET STATISTICS
(unaudited, $ in millions, except per share statistics)
	Quarter Ended
	Sep 30, 2015				Jun 30, 2015				Mar 31, 2015				Dec 31, 2014				Sep 30, 2014				Sep 30, 2015 vs. Sep 30, 2014
BALANCE SHEET STATISTICS
Total common equity	$	12,158			$	11,578			$	11,036			$	10,478			$	9,941			$	2,217		22.3	%
Total common equity as a % of total assets	15.30		%		15.28		%		15.18		%		13.84		%		13.53		%					1.77	%
Tangible assets	$	77,847			$	74,226			$	71,215			$	74,239			$	72,071			$	5,776		8.0	%
Tangible common equity(1)	$	10,563			$	10,054			$	9,530			$	9,010			$	8,543			$	2,020		23.6	%
Tangible common equity as a % of tangible assets(1)	13.57		%		13.55		%		13.38		%		12.14		%		11.85		%					1.72	%
Tangible common equity per share(1)	$	12.67			$	12.06			$	11.43			$	10.81			$	10.25			$	2.42		23.6	%
REGULATORY CAPITAL RATIOS(2)
	Basel III Transition								Basel I
Total risk-based capital ratio(3)(8)	18.8		%		18.5		%		18.2		%		16.2		%		16.4		%
Tier 1 risk-based capital ratio(4)(8)	17.5		%		17.2		%		16.9		%		14.9		%		15.1		%
Tier 1 common ratio(5)(8)	n/a				n/a				16.9		%		14.9		%		15.1		%
Tier 1 leverage ratio(6)(8)	14.6		%		14.6		%		13.7		%		12.5		%		12.2		%
Common equity Tier 1 capital ratio(7)(8)	17.5		%		17.2		%		n/a				n/a				n/a
	Basel III Fully Phased-in
Common equity Tier 1 capital ratio(7)	16.6		%		16.4		%		16.4		%		14.5		%		14.6		%
(1) Tangible common equity ("TCE") is a non-GAAP measure. We believe TCE is a more meaningful measure of the net asset value of the Company to investors. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
(2) Regulatory capital metrics at September 30, 2015 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 reported under Basel III transition rules is calculated based on Tier 1 capital divided by total average assets, after certain adjustments. Total assets, after certain adjustments is used as the denominator for prior periods calculated under Basel I rules.
(7) Common equity Tier 1 capital ratio is the ratio of common equity Tier 1 capital to total risk-weighted assets, each as calculated under Basel III rules. Common equity Tier 1 capital ratio (fully phased-in) is a preliminary estimate reflecting management’s interpretation of the final Basel III 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.
(8) Beginning June 30, 2015, regulatory capital ratios are calculated under Basel III rules subject to transition provisions. The Company reported under Basel I rules for periods prior to June 30, 2015.

7

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SYNCHRONY FINANCIAL
PLATFORM RESULTS AND RECONCILIATION OF NON-GAAP MEASURES
(unaudited, $ in millions)
	Quarter Ended																										Nine Months Ended
	Sep 30, 2015				Jun 30, 2015				Mar 31, 2015				Dec 31, 2014				Sep 30, 2014				3Q'15 vs. 3Q'14						Sep 30, 2015				Sep 30, 2014				YTD'15 vs. YTD'14
RETAIL CARD
Purchase volume(1),(2)	$	23,560			$	23,452			$	18,410			$	24,855			$	20,991			$	2,569		12.2	%		$	65,422			$	58,736			$	6,686		11.4	%
Period-end loan receivables	$	43,432			$	42,315			$	39,685			$	42,308			$	38,466			$	4,966		12.9	%		$	43,432			$	38,466			$	4,966		12.9	%
Average loan receivables, including held for sale	$	42,933			$	41,303			$	40,986			$	40,929			$	39,411			$	3,522		8.9	%		$	41,853			$	38,685			$	3,168		8.2	%
Average active accounts (in thousands)(2),(3)	49,953				48,981				49,617				49,871				48,433				1,520			3.1	%		49,671				48,116				1,555			3.2	%
Interest and fees on loans(2)	$	2,508			$	2,335			$	2,337			$	2,405			$	2,299			$	209		9.1	%		$	7,180			$	6,635			$	545		8.2	%
Other income(2)	70				107				86				141				78				(8		)	(10.3	)%		263				266				(3		)	(1.1	)%
Platform revenue, excluding retailer share arrangements(2)	2,578				2,442				2,423				2,546				2,377				201			8.5	%		7,443				6,901				542			7.9	%
Retailer share arrangements(2)	(708		)		(606		)		(651		)		(686		)		(683		)		(25		)	3.7	%		(1,965		)		(1,844		)		(121		)	6.6	%
Platform revenue(2)	$	1,870			$	1,836			$	1,772			$	1,860			$	1,694			$	176		10.4	%		$	5,478			$	5,057			$	421		8.3	%
PAYMENT SOLUTIONS
Purchase volume(1)	$	3,635			$	3,371			$	2,948			$	3,419			$	3,226			$	409		12.7	%		$	9,954			$	9,028			$	926		10.3	%
Period-end loan receivables	$	12,933			$	12,194			$	11,833			$	12,095			$	11,514			$	1,419		12.3	%		$	12,933			$	11,514			$	1,419		12.3	%
Average loan receivables	$	12,523			$	11,971			$	11,970			$	11,772			$	11,267			$	1,256		11.1	%		$	12,183			$	10,965			$	1,218		11.1	%
Average active accounts (in thousands)(3)	7,468				7,231				7,271				7,113				6,892				576			8.4	%		7,335				6,784				551			8.1	%
Interest and fees on loans	$	442			$	412			$	403			$	426			$	405			$	37		9.1	%		$	1,257			$	1,156			$	101		8.7	%
Other income	5				4				5				9				7				(2		)	(28.6	)%		14				23				(9		)	(39.1	)%
Platform revenue, excluding retailer share arrangements	447				416				408				435				412				35			8.5	%		1,271				1,179				92			7.8	%
Retailer share arrangements	(13		)		(14		)		(8		)		(11		)		(9		)		(4		)	44.4	%		(35		)		(30		)		(5		)	16.7	%
Platform revenue	$	434			$	402			$	400			$	424			$	403			$	31		7.7	%		$	1,236			$	1,149			$	87		7.6	%
CARECREDIT
Purchase volume(1)	$	2,011			$	1,987			$	1,781			$	1,807			$	1,787			$	224		12.5	%		$	5,779			$	5,304			$	475		9.0	%
Period-end loan receivables	$	7,155			$	6,922			$	6,730			$	6,883			$	6,787			$	368		5.4	%		$	7,155			$	6,787			$	368		5.4	%
Average loan receivables	$	7,048			$	6,820			$	6,819			$	6,846			$	6,713			$	335		5.0	%		$	6,910			$	6,588			$	322		4.9	%
Average active accounts (in thousands)(3)	4,826				4,711				4,716				4,683				4,582				244			5.3	%		4,756				4,494				262			5.8	%
Interest and fees on loans	$	429			$	419			$	400			$	421			$	412			$	17		4.1	%		$	1,248			$	1,173			$	75		6.4	%
Other income	9				9				10				12				11				(2		)	(18.2	)%		28				34				(6		)	(17.6	)%
Platform revenue, excluding retailer share arrangements	438				428				410				433				423				15			3.5	%		1,276				1,207				69			5.7	%
Retailer share arrangements	(2		)		(1		)		(1		)		(1		)		(1		)		(1		)	100.0	%		(4		)		(3		)		(1		)	33.3	%
Platform revenue	$	436			$	427			$	409			$	432			$	422			$	14		3.3	%		$	1,272			$	1,204			$	68		5.6	%
TOTAL SYF
Purchase volume(1),(2)	$	29,206			$	28,810			$	23,139			$	30,081			$	26,004			$	3,202		12.3	%		$	81,155			$	73,068			$	8,087		11.1	%
Period-end loan receivables	$	63,520			$	61,431			$	58,248			$	61,286			$	56,767			$	6,753		11.9	%		$	63,520			$	56,767			$	6,753		11.9	%
Average loan receivables, including held for sale	$	62,504			$	60,094			$	59,775			$	59,547			$	57,391			$	5,113		8.9	%		$	60,946			$	56,238			$	4,708		8.4	%
Average active accounts (in thousands)(2),(3)	62,247				60,923				61,604				61,667				59,907				2,340			3.9	%		61,762				59,394				2,368			4.0	%
Interest and fees on loans(2)	$	3,379			$	3,166			$	3,140			$	3,252			$	3,116			$	263		8.4	%		$	9,685			$	8,964			$	721		8.0	%
Other income(2)	84				120				101				162				96				(12		)	(12.5	)%		305				323				(18		)	(5.6	)%
Platform revenue, excluding retailer share arrangements(2)	3,463				3,286				3,241				3,414				3,212				251			7.8	%		9,990				9,287				703			7.6	%
Retailer share arrangements(2)	(723		)		(621		)		(660		)		(698		)		(693		)		(30		)	4.3	%		(2,004		)		(1,877		)		(127		)	6.8	%
Platform revenue(2)	$	2,740			$	2,665			$	2,581			$	2,716			$	2,519			$	221		8.8	%		$	7,986			$	7,410			$	576		7.8	%
(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.

8

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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, 2015				Jun 30, 2015				Mar 31, 2015				Dec 31, 2014				Sep 30, 2014
COMMON EQUITY MEASURES
GAAP Total common equity	$	12,158			$	11,578			$	11,036			$	10,478			$	9,941
Less: Goodwill	(949		)		(949		)		(949		)		(949		)		(949		)
Less: Intangible assets, net	(646		)		(575		)		(557		)		(519		)		(449		)
Tangible common equity	$	10,563			$	10,054			$	9,530			$	9,010			$	8,543
Adjustments for certain other intangible assets, deferred tax liabilities and certain items in accumulated comprehensive income (loss)									293				287				292
Basel I - Tier 1 capital and Tier 1 common equity									$	9,823			$	9,297			$	8,835
Adjustments for certain other intangible assets and deferred tax liabilities									(12		)		(20		)		(24		)
Adjustments for certain deferred tax liabilities and certain items in accumulated comprehensive income (loss)	291				293
Basel III - Common equity Tier 1 (fully phased-in)	$	10,854			$	10,347			$	9,811			$	9,277			$	8,811
Adjustment related to capital components during transition	375				331
Basel III - Common equity Tier I (transition)	$	11,229			$	10,678
RISK-BASED CAPITAL
Tier 1 capital and Tier 1 common equity(1)	$	11,229			$	10,678			$	9,823			$	9,297			$	8,835
Add: Allowance for loan losses includible in risk-based capital	835				806				759				809				760
Risk-based capital(1)	$	12,064			$	11,484			$	10,582			$	10,106			$	9,595
ASSET MEASURES
Total assets(2)	$	77,995			$	74,143			$	72,721			$	75,707			$	73,469
Adjustments for:
Disallowed goodwill and other disallowed intangible assets, net of related deferred tax liabilities	(931		)		(903		)		(1,213		)		(1,181		)		(1,110		)
Other	104				60				136				79				4
Total assets for leverage purposes(1)	$	77,168			$	73,300			$	71,644			$	74,605			$	72,363
Risk-weighted assets - Basel I	n/a				n/a				$	58,184			$	62,270			$	58,457
Risk-weighted assets - Basel III (fully phased-in)(3)	$	65,278			$	62,970			$	59,926			$	64,162			$	60,300
Risk-weighted assets - Basel III (transition)(3)	$	64,244			$	61,985			n/a				n/a				n/a
TANGIBLE COMMON EQUITY PER SHARE
GAAP book value per share	$	14.58			$	13.89			$	13.24			$	12.57			$	11.92
Less: Goodwill	(1.14		)		(1.14		)		(1.14		)		(1.14		)		(1.14		)
Less: Intangible assets, net	(0.77		)		(0.69		)		(0.67		)		(0.62		)		(0.53		)
Tangible common equity per share	$	12.67			$	12.06			$	11.43			$	10.81			$	10.25
(1) Beginning June 30, 2015, regulatory capital amounts are calculated under Basel III rules subject to transition provisions. The company reported under Basel I rules for periods prior to June 30, 2015.
(2) Represents total average assets beginning June 30, 2015 and total assets for all periods prior to June 30, 2015.
(3) Key differences between Basel III transitional rules and fully phased-in Basel III rules in the calculation of risk-weighted assets include, but not limited to, risk weighting of deferred tax assets and adjustments for certain intangible assets.

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