Synchrony Financial: Presentation Q2'26

FINANCIAL RESULTS

July 21, 2026

Delivering consistent execution through environments

68mm average active accounts $50bnpurchase volume $102bn loan receivables2

YoY % growth reflects both in and out-of-partner spend

% of total out-of-partner spend3

Consumer Co-Branded4 out-of-partner spend only

Consumer Co-Branded cards4

Total SYF

Purchase volume trends

19%

21% 21% 22%

18% 19%

11%

4%

5%

7%

6%

7%

Discretionary

Non-Discretionary

Super Prime Prime Non-Prime

53% 54% 53% 53% 54%

47% 46% 47% 47% 46%

2/26 3/26 4/26 5/26 6/26

49%

51%

3/26 4/26 5/26 6/26

50%

50%

52%

48%

51% 51% 51% 52% 52%

49% 49% 49% 48% 48%

1/26 2/26 3/26 4/26 5/26 6/26

1/26 2/26

1/26 2/26 3/26 4/26 5/26 6/26

1/26

3

(1) Customer engagement metrics at or for the quarter ended June 30, 2026. (2) Unless otherwise indicated, references to Loan receivables do not include Loan receivables held for sale.

(3) Yellow shading highlights periods of elevated oil prices coinciding with the ongoing geopolitical crisis. (4) Consumer co-branded cards includes Dual Card and general purpose co-branded card programs; out-of-partner spend is purchases made outside the originating partner.

Second quarter in review

Purchase volume +8%

Co-Branded cards1: $25.8bn, +23%

$46.1bn $49.8bn

Net interest margin

15.08%

PY: 14.78%

Common Equity Tier 1 (CET1) capital ratio4,5

14.2% 13.2%

Loan receivables2 +2%

Co-Branded cards1: $35.7bn, +25%

$99.8bn $102.2bn

Average active accounts3 -%

Net charge-offs 5.43%

PY: 5.70%

Efficiency ratio 35.8%

PY: 34.1%

2Q'25 3Q'25 4Q'25 1Q'26 2Q'26

Capital returned

$0.6bn

$1.0bn

2Q'25 3Q'25 4Q'25 1Q'26 2Q'26

Book value per share

$42.30 $46.67

2Q'25 3Q'25 4Q'25 1Q'26 2Q'26

68.1mm 68.3mm

Tangible book value per share4,6

Diluted earnings per share

$2.59

PY: $2.50

Return on assets

2.9%

PY: 3.2%

$38.72 $42.01

2Q'25 3Q'25 4Q'25 1Q'26 2Q'26

(1) Represents in-and out-of-partner activity for co-branded cards which includes consumer and commercial Dual Card and consumer general purpose co-branded card programs. (2) Unless otherwise indicated, references to Loan receivables do not include Loan receivables held for sale. (3) Credit card or installment loan 4

accounts on which there has been a purchase, payment or outstanding balance in the current month. (4) Amounts prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See the financial supplement for additional information.

(5) Amounts at June 30, 2026 are preliminary and therefore subject to change. (6) This is a non-GAAP measure. See Non-GAAP reconciliation in appendix.

B / (W)

2Q'25

2Q'26

Financial results

B / (W)1

2Q'25

2Q'26

Retailer share arrangements (RSA) (1,027) (992) (4)%

Home & Auto

Purchase volume $12.1 $11.5 6% Interest and fees on loans $1.4 $1.4 -%

Digital

Loan receivables $29.0 $27.8 4%

Purchase volume $14.9 $13.6 9% Interest and fees on loans $1.6 $1.6 2%

Diversified & Value

Health & Wellness

Net earnings available to common stockholders

$864 $946 (9)%

Lifestyle

(1) Percentages calculated from amounts presented in millions in the financial supplement.

Key financial trends

Investment income

Interest & fees

Interest expense

(21)%

$258

$203

$5,328

$5,380

+1%

+8%

Highlights

• Net interest income increased 2%, or $87 million

  • Interest and fees increased 1%, or $52 million primarily driven by growth in average loan receivables

  • Lower benchmark rates primarily drove reductions in interest expense by 8% or $90 million and a reduction in investment income by 21% or

    $55 million

• Net interest margin of 15.08% increased 30bps

• Retailer share arrangements increased $35 million and were 4.1% of average loan receivables reflecting program performance and higher purchase volume

  Net interest margin

• Other Income increased 16%, or $19 million driven by a $30 million Visa B-2 Share exchange gain partially offset by higher loyalty costs

2Q'25 Net interest margin 14.78%

Interest-bearing liabilities cost +0.29 %

Mix of Interest-earning assets +0.23 %

Loan receivables yield (0.09)%

Liquidity portfolio yield (0.13)%

• Payment rate1 of 17.0% up approximately 70bps vs. 2Q'25 and up approximately 170bps vs. pre-pandemic 5-year historical average ('15-'19)2

  • Primarily reflects impacts of new portfolios seasoning, shifts in portfolio/product mix, and the impact of our previous credit actions

6

(1) Customer payments received during the period divided by beginning of period loan receivables, including Loan receivables held for sale. (2) Excludes portfolios sold in 2019 and 2022.

Other expense

$210

$158

$509

$516

(33)%

Other

Information processing

Marketing and business dev

Professional fees

Employee costs

(1)%

2Q'25 3Q'25 4Q'25 1Q'26 2Q'26 7

(1) Other expense divided by sum of Net interest income, plus Other income, less Retailer share arrangements.

Credit

30+ days past due

$mm, % of period-end loan receivables

Net charge-offs

$mm, annualized as % of average loan receivables, including held for sale

4.47%

4.52%

4.18%

4.54%

4.16%

$4,574

$4,505

$4,173

$4,543

$4,249

6.42%

6.38% 5.70%

5.42% 5.43%

$1,621

$1,588

$1,411

$1,346 $1,364

2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26

90+ days past due

$mm, % of period-end loan receivables

Allowance for credit losses2

$mm, % of period-end loan receivables

10.74% 10.87% 10.59% 10.42% 10.09%

$10,982

$10,312

$10,428

$10,564

$10,828

2.19%

2.29% 2.06%

2.28% 2.01%

$2,050

$2,059

$2,284

$2,285

$2,244

2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26

8

(1) Unless otherwise indicated, references to Loan receivables do not include Loan receivables held for sale. (2) Excludes reserves for credit exposures primarily related to purchase commitments for loan portfolio acquisitions.

Funding, capital and liquidity

CET1 capital ratio Tier 1 capital ratio

14.2% 13.2% 15.4% 14.9%

9

(1) Amounts at June 30, 2026 are preliminary and therefore subject to change. (2) Amounts prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See the financial supplement for additional information.

(3) Sum of "Tier 1 Capital" and "Allowance for Credit Losses," divided by "Total Risk-Weighted Assets." This ratio is a non-GAAP measure. See Non-GAAP reconciliation in appendix.

Updated 2026 Outlook

Ending loan receivables growth

Net charge-off rate

Earnings per diluted share

• No regulatory or legislative changes

• Stable macroeconomic environment

• No significant change in inflation rates

• No additional modifications to PPPCs1

• No additional broad-based credit refinements

Ending loan receivables growth

FY'26 EPS

• Strong purchase volume growth expected to continue throughout 2026

• Payment rate expected to remain elevated

• Receivables growth expected to accelerate through second half of 2026

• Net interest income growth, reflecting building impact of PPPCs on I&F and lower funding liabilities costs, partially offset by lower late fee incidence and new account acceleration

• Continued strength in delinquency and net charge-off performance; continue to expect relative stability and should follow normal seasonality patterns

• RSA / Average loan receivables increasing, reflecting program performance; expected to stay within target 4.0% - 4.5% range

• Other expense dollars in second half of 2026 expected to remain relatively consistent to first half

(comments and trends in comparison to 2025, except where noted)

(1) Product, Pricing, and Policy Changes (or "PPPCs"). 10

Transaction related activity and other notable items - 2Q

The following table sets forth transaction related activity and other notable items incurred during 2Q'26 and 2Q'25.

$ in millions

Quarter Ended June 30

12

Non-GAAP reconciliation1

The following table sets forth a reconciliation between GAAP results and non-GAAP adjusted results.

$ in millions, except per share data

13

(1) Amounts prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See the financial supplement for additional information.

Non-GAAP reconciliation (continued)1

The following table sets forth the components of our Tier 1 Capital + Reserves ratio for the periods indicated below.

$ in millions

At June 30

14

(1) Amounts prior to June 30, 2026 have been recast to reflect the change in presentation of internal-use capitalized software on our Statements of Financial Position. See the financial supplement for additional information. (2) Amounts at June 30, 2026 are preliminary and therefore subject to change.