Q1 2022 Earnings Call Presentation

The Allstate Corporation

This presentation contains forward-looking statements and information. This presentation also contains non-GAAP measures that are denoted with an asterisk. You can find the reconciliation of those measures to GAAPmeasures within our most recent earnings release andinvestor supplement.

Additional information on factors that could cause results to differ materially from this presentation is available in the 2021 Form 10-K, Form 10-Q for March 31, 2022, our most recent earnings release, and at the end of these slides.These materials are available on our website,www.allstateinvestors.com, under the "Financials" link.

First quarter 2022 highlights

Allstate's Execution and Adaptability Create Shareholder Value

Total revenues

Property-Liability insurance premiums

Accident and health insurance premiums and contract charges Net investment income

594 708 (16.1%)

Net gains (losses) on investments and derivatives

(267) 426 (162.7%)

Income applicable to common shareholders:

Net income (loss)Adjusted net income* Per diluted common share

Net income (loss)

Adjusted net income*

2.24 2.58

Retuon Allstate common shareholders' equity (trailing twelve months)Net income applicable to common shareholders

Adjusted net income*

Cash returned to common shareholders

15.4% 12.8%1,024

NM = Not meaningful

($ in millions, except per share data and ratios)

Strength in Homeowners Insurance and Investments Mitigates Inflationary Impact on Auto Insurance

catastrophe losses

• (1)Excludes the amortization of purchased intangibles and reflects after-tax underwriting income assuming an effective tax rate of 21%

• (2)Other includes other personal lines, commercial lines, other business lines, Answer Financial and Run-Off Property-Liability

• (3)Assumes effective tax rate of 21%

• (4)Corporate and Other includes adjusted net income from the corporate and other segment, non-controlling interest income (loss) and P-L tax adjustments

Contribution to first quarter 2022 adjusted net income*