Q2 2023 Earnings Call Presentation

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 GAAP measures within our most recent earnings release, investor supplement or on our website, www.allstateinvestors.com, under the "Financials" link.

Additional information on factors that could cause results to differ materially from this presentation is available in the 2022 Form 10-K, Form 10-Q for June 30, 2023, 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.

Increase Personal

Property-Liability Market Share

Leveraging Allstate brand,

customer base and capabilities

Expand Protection

Services

Second quarter 2023 highlights

• Successfully implementing comprehensive plan to improve auto insurance profitability by:

1. Raising rates

• 1. Reducing expenses
  1. Limiting growth
  1. Enhancing claims processes
• Severe weather resulted in a net loss of $1.4 billion
• 1. Property-Liabilitygenerated an underwriting loss of $2.1 billion reflecting $2.7 billion of catastrophe losses

1. Investment income of $610 million reflecting higher bond yields

• 1. Protection Services and Health and Benefits profit of $98 million
• Advancing Transformative Growth plan
• Expanding Allstate Protection Plans
• Suspended share repurchases given net loss

Property-Liability statistics

($ in millions)

Premiums Earned

Policies in Force (in thousands) Catastrophe Losses Underwriting Income (Loss)

(% to premiums earned) Loss Ratio

Expense Ratio

Combined Ratio

Catastrophe Loss Ratio

Underlying Combined Ratio*

Property-Liability combined ratio components

Underlying combined ratio improvement versus 2022 reflects

higher average premium and lower expenses