The Allstate Corporation - Climate Change 2023

C0. Introduction

C0.1

(C0.1) Give a general description and introduction to your organization.

The Allstate Corp. is one of the largest publicly held personal lines insurers in the United States. Allstate was founded in 1931 and became a publicly traded company in

1993. Allstate empowers customers with protection to help them achieve their hopes and dreams. It provides affordable, simple and connected protection solutions. It creates

opportunity for its team, economic value for its shareholders and improves communities. The Allstate Corp. common stock is listed on the New York Stock Exchange under

the trading symbol “ALL.” Common stock is also listed on the Chicago Stock Exchange. Its business is conducted principally through Allstate Insurance Company and other

subsidiaries (collectively, including The Allstate Corp., "Allstate"). The Allstate brand is widely known through the "You're in good hands with Allstate®" slogan. Allstate was

listed among Fortune Magazine’s World’s Most Admired Companies (2022), and named to the World’s Most Ethical Companies® list for the eighth year in a row. Allstate has

also been a member of the CDP “A” list for Climate Change in 2020, 2016 and 2012.

C0.2

(C0.2) State the start and end date of the year for which you are reporting data and indicate whether you will be providing emissions data for past reporting

years.

Reporting year

Start date

January 1 2022

End date

December 31 2022

Indicate if you are providing emissions data for past reporting years

Yes

Select the number of past reporting years you will be providing Scope 1 emissions data for

5 years

Select the number of past reporting years you will be providing Scope 2 emissions data for

5 years

Select the number of past reporting years you will be providing Scope 3 emissions data for

5 years

C0.3

(C0.3) Select the countries/areas in which you operate.

Australia

Austria

Belgium

Canada

Denmark

Finland

Germany

India

Japan

Lithuania

Luxembourg

Netherlands

Norway

Portugal

Spain

Sweden

United Kingdom of Great Britain and Northern Ireland

United States of America

C0.4

(C0.4) Select the currency used for all financial information disclosed throughout your response.

USD

CDP Page of 731

C0.5

(C0.5) Select the option that describes the reporting boundary for which climate-related impacts on your business are being reported. Note that this option should

align with your chosen approach for consolidating your GHG inventory.

Operational control

C-FS0.7

(C-FS0.7) Which activities does your organization undertake, and which industry sectors does your organization lend to, invest in, and/or insure?

Does your organization undertake this activity? Insurance types underwritten Industry sectors your organization lends to, invests in, and/or insures

Banking (Bank) No <Not Applicable> <Not Applicable>

Investing (Asset manager) No <Not Applicable> <Not Applicable>

Investing (Asset owner) Yes <Not Applicable> Exposed to all broad market sectors

Insurance underwriting (Insurance company) Yes General (non-life) None of the above

C0.8

(C0.8) Does your organization have an ISIN code or another unique identifier (e.g., Ticker, CUSIP, etc.)?

Indicate whether you are able to provide a unique identifier for your organization Provide your unique identifier

Yes, a Ticker symbol ALL

C1. Governance

C1.1

(C1.1) Is there board-level oversight of climate-related issues within your organization?

Yes

C1.1a

(C1.1a) Identify the position(s) (do not include any names) of the individual(s) on the board with responsibility for climate-related issues.

Position of

individual

committee

Responsibilities for climate-related issues

Board-level

committee

The Nominating, Governance and Social Responsibility Committee (NG&SRC) is a Board committee that oversees, among other things, Allstate’s significant environmental, social, and governance

priorities and reporting, including Allstate’s Sustainability Report, which contains Allstate’s greenhouse gas and other climate-related risk information. The NG&SRC consists of four directors on the

Board, and the CEO and Chief Legal Officer and General Counsel participate in meetings. In 2022, the NG&SRC reviewed sustainability matters over multiple meetings, including two joint sessions

with the Board.

Board-level

committee

The Board's Risk and Return Committee (RRC) oversees the effectiveness of Allstate’s Enterprise Risk and Return Management (ERRM) framework, governance structure, and decision-making.

Material risks, including climate-related risks, are regularly assessed and reported to senior management and the Board.

The RRC assists the Board with this responsibility and reviews a quarterly risk dashboard that identifies key risks and provides an overall perspective of Allstate’s risk profile. Material risks are reviewed

at least five times annually. The RRC oversees Allstate’s aggregate risk profile. This includes the identification, measurement, and management of climate-related risks and the assessment of

extremely low frequency scenarios, including weather-related scenarios. For example, the RRC was briefed on the wildfires in California to better understand our risks and impacts.

The RRC is also briefed on other severe weather events such as hurricanes. The RRC members participate in other Board committees to ensure transparency and alignment in managing risks

throughout the organization. Example of a climate-related decision made: Each year, reinsurance coverage is purchased based on in-depth analysis of Allstate’s exposure to catastrophe risk, including

hurricanes, earthquakes and fires following earthquakes, wildfires, and other catastrophes.

Reinsurance is analyzed as a special topic as part of Allstate’s broader insurance and climate-related analysis. The Chief Risk Officer presents the analysis of reinsurance strategy and implementation

for RRC transparency and alignment.

Chief Risk

Officer

(CRO)

The RRC consists of five directors on the Board. The Chief Risk Officer (CRO), Chief Financial Officer (CFO), Chief Executive Officer (CEO), Chief Legal Officer and General Counsel, Chief

Technology Officer, Chief Information Security Officer, and Chief Audit Executive participate in meetings. The CRO attends all meetings of the RRC and has regular executive sessions with the

committee. The CRO attends these meetings because he is ultimately responsible for design and execution of Allstate’s risk management program, including management of climate-related risks.

The CRO is regularly updated on the impacts of significant climate related events, such as the wildfires in California and large-scale hurricanes. The CRO and RRC review a risk control dashboard on

a quarterly basis, which incorporates climate-related risks. The CRO also attends other Board committee meetings and reports regularly to the full Board and senior management throughout the

organization to ensure alignment on risk-related issues, including climate change. The Board regularly hears from the CRO about climate change risks and reviewed climate risk at two meetings in

2022.

C1.1b

CDP Page of 732

(C1.1b) Provide further details on the board’s oversight of climate-related issues.

Frequency with which

climate-related issues are a

scheduled agenda item

Governance mechanisms

into which climate-related

issues are integrated

Scope of board-level

oversight

Please explain

Scheduled – some meetings Overseeing acquisitions,

mergers, and divestitures

Overseeing and guiding

employee incentives

Reviewing and guiding strategy

Overseeing the setting of

corporate targets

Monitoring progress towards

corporate targets

Reviewing and guiding the risk

management process

Climate-related risks and

opportunities to our own

operations

Climate-related risks and

opportunities to our investment

activities

Climate-related risks and

opportunities to our insurance

underwriting activities

The impact of our own

operations on the climate

The impact of our insurance

underwriting activities on the

climate

The RRC oversees the effectiveness of Allstate’s ERRM framework, governance structure and decision-making. It

reviews enterprise risks at least five times annually, which includes climate-related risks on an as-needed basis.

The governance mechanisms for the RRC include:

1) Review of an ERRM Summary Report that identifies key risks and provides an overall perspective of Allstate’s

risk profile;

2) Review of Allstate’s risk and return position, capital levels, and strategic/operating plans;

3) Review of extremely low frequency scenarios (“ELFs”);

4) Review of strategic risks that are assessed in-depth as part of strategic planning processes, with climate change

and severe weather being key risks that are evaluated;

5) Review of the regulatory Own Risk and Solvency Assessment (“ORSA”) report;

6) Review of risk factors included in Form 10-K, including risks related to climate change and severe weather;

7) Inclusion of the Audit Committee Chair as an RRC member to enhance cross-committee communication;

8) Attendance of the CRO at all meetings, including regular executive sessions with committee members.

In FY22 the Board and RRC continued to oversee efforts to assess and mitigate climate-related risks. The total

impact of severe weather events, such as the California wildfires, indicated that Allstate’s catastrophe response

and risk management programs are operating effectively.

C1.1d

(C1.1d) Does your organization have at least one board member with competence on climate-related issues?

Board member(s) have

competence on climate-

related issues

Criteria used to assess competence of board member(s) on

climate-related issues

Primary reason for no

board-level competence on

climate-related issues

Explain why your organization does not have at least one board

member with competence on climate-related issues and any plans to

address board-level competence in the future

Row

Yes Experience gained and responsibilities in capacity of position at

current/most recent employer; Current/prior experience as board

member at another publicly traded company.

C1.2

(C1.2) Provide the highest management-level position(s) or committee(s) with responsibility for climate-related issues.

Position or committee

Chief Risks Officer (CRO)

Climate-related responsibilities of this position

Integrating climate-related issues into the strategy

Assessing climate-related risks and opportunities

Managing climate-related risks and opportunities

Coverage of responsibilities

Risks and opportunities related to our investing activities

Risks and opportunities related to our insurance underwriting activities

Risks and opportunities related to our own operations

Reporting line

CEO reporting line

Frequency of reporting to the board on climate-related issues via this reporting line

More frequently than quarterly

Please explain

Allstate manages climate risks using its integrated Enterprise Risk and Return Management (ERRM) Framework, which applies risk and return principles, modeling and

analytics, governance, and transparent dialogue to proactively manage the company's highest-priority risks.

The Chief Risk Officer chairs the Enterprise Risk and Return Council (ERRC), ensuring that it performs its duties, and reports to the CEO. The ERRC meets monthly and is

Allstate’s senior risk management committee below the Board level. The ERRC directs ERRM activities by establishing risk and return targets, determining economic capital

levels, and monitoring integrated strategies and actions from an enterprise risk and return perspective. The Board regularly hears from Allstate’s Chief Risk Officer about

climate change risks and reviewed climate risk at two meetings in 2022.

Position or committee

Risk committee

Climate-related responsibilities of this position

Integrating climate-related issues into the strategy

Assessing climate-related risks and opportunities

Managing climate-related risks and opportunities

CDP Page of 733

Coverage of responsibilities

Risks and opportunities related to our investing activities

Risks and opportunities related to our insurance underwriting activities

Risks and opportunities related to our own operations

Reporting line

Other, please specify (The ERRC is an internal management committee established to lead the Enterprise Risk and Return Management (ERRM) at Allstate.)

Frequency of reporting to the board on climate-related issues via this reporting line

More frequently than quarterly

Please explain

Allstate’s insurance businesses depend on effectively modeling, pricing, and managing risks, including those related to climate change. Allstate manages climate risks

using its integrated Enterprise Risk and Return Management (ERRM) Framework, which applies risk and return principles, modeling and analytics, governance, and

transparent dialogue to proactively manage the company's highest-priority risks. The Enterprise Risk and Return Council (“ERRC”) directs ERRM activities by establishing

risk and return targets, determining economic capital levels, and monitoring integrated strategies and actions from an enterprise risk and return perspective.

Position or committee

Chief Procurement Officer (CPO)

Climate-related responsibilities of this position

Managing value chain engagement on climate-related issues

Coverage of responsibilities

Reporting line

CEO reporting line

Frequency of reporting to the board on climate-related issues via this reporting line

More frequently than quarterly

Please explain

Allstate’s Chief Procurement Officer (CPO) incorporates sustainability initiatives into Allstate’s purchasing practices. The CPO implemented a sustainability program as part

of Sourcing & Procurement Solutions to assess the environmental risks and opportunities within Allstate’s supply chain and purchasing operations enterprise-wide, including

the potential to reduce greenhouse gas emissions.

Position or committee

Sustainability committee

Climate-related responsibilities of this position

Developing a climate transition plan

Integrating climate-related issues into the strategy

Monitoring progress against climate-related corporate targets

Coverage of responsibilities

Reporting line

Other, please specify (Chief Legal Officer (CLO) reporting line)

Frequency of reporting to the board on climate-related issues via this reporting line

Half-yearly

Please explain

Allstate has maintained its cross-functional ESG Steering Committee since 2007. It includes experts from Strategy, Finance, Financial Products, Enterprise Solutions,

Corporate Brand, Enterprise Risk and Return Management, Human Resources, Legal, Investments, Property-Liability, and Protection Products and Services. Allstate’s

senior vice president of corporate strategy and senior vice president of corporate law co-chair the committee, which meets monthly and updates senior executives regularly.

With 12 members, including the two committee chairs, representing 11 business functions as of Dec. 31, 2022, the committee supports Allstate’s commitment to the

environment, health and safety, corporate social responsibility, human capital management, corporate governance, sustainability and other public policy matters. The

Sustainability team participates in monthly ESG Steering Committee meetings and the Board of Directors is provided with regular updates.

C1.3

(C1.3) Do you provide incentives for the management of climate-related issues, including the attainment of targets?

Provide incentives for the management of climate-related issues Comment

Row 1 Yes For more information, see allstatesustainability.com

C1.3a

CDP Page of 734

(C1.3a) Provide further details on the incentives provided for the management of climate-related issues (do not include the names of individuals).

Entitled to incentive

Corporate executive team

Type of incentive

Monetary reward

Incentive(s)

Bonus – set figure

Performance indicator(s)

Other (please specify) (Company performance including risk and return management of all risks (including climate risk))

Incentive plan(s) this incentive is linked to

Both Short-Term and Long-Term Incentive Plan

Further details of incentive(s)

Allstate’s overall executive compensation program is designed to deliver compensation in accordance with performance and not reward excessive risk-taking. It includes

both short-term and long-term incentive components. A significant percentage of executive total direct compensation is “pay at risk” through long-term stock options and

equity grant awards linked to actual company performance. This encourages a long-term perspective on risk and return.

Explain how this incentive contributes to the implementation of your organization’s climate commitments and/or climate transition plan

Monetary incentives for achieving corporate and performance goals include risk and return management of all risks, including those affected by climate, with the impact of

weather-related losses incorporated into incentive payouts. Risk and return management includes efforts to mitigate climate-related risk through advocacy for strong

building codes, customer education, and product pricing structures to promote property upkeep and maintenance and reduce the potential impact of weather-related loss

events due to climate change. Management of risk and return also ensures that pricing is aligned with the full exposure of the risk, including weather-related perils.

Entitled to incentive

Chief Procurement Officer (CPO)

Type of incentive

Monetary reward

Incentive(s)

Bonus - % of salary

Bonus – set figure

Promotion

Salary increase

Performance indicator(s)

Increased engagement with suppliers on climate-related issues

Increased value chain visibility (traceability, mapping, transparency)

Company performance against a climate-related sustainability index (e.g., DJSI, CDP Climate Change score etc.)

Incentive plan(s) this incentive is linked to

Both Short-Term and Long-Term Incentive Plan

Further details of incentive(s)

As a member of the corporate executive team and the ESG Steering Committee, Allstate’s Chief Procurement Officer (CPO) incorporates sustainability initiatives into

Allstate’s procurement practices. The CPO implemented a sustainability program as part of Sourcing & Procurement Solutions to assess the environmental risks and

opportunities within Allstate’s supply chain and procurement operations enterprise-wide, including the potential to reduce greenhouse gas emissions. Allstate expects its

most critical suppliers to disclose carbon levels and their plans for reductions annually. The progress of the sustainability program is measured by Allstate’s increased

engagement with suppliers on climate-related issues, increased value chain visibility and company performance against a climate-related sustainability index. The

performance of this sustainability program is one component of the incentives for the CPO and program development team.

Explain how this incentive contributes to the implementation of your organization’s climate commitments and/or climate transition plan

In December 2022, Allstate announced a commitment to achieve net zero emissions for direct, indirect and value-chain greenhouse gas (GHG) emissions by 2030, ahead

of the Paris Agreement timeline. One key component of how Allstate will accomplish its 2030 net zero goal is by working to reduce emissions of its third-party suppliers.

Allstate’s progress towards the net zero goal will be reflected in a 2023 enterprise goal to include sustainability language in 100 supplier agreements, representing a range

of externally purchased goods and services categories. Climate expectations are also reflected in Allstate’s Supplier Code of Business Conduct.

C-FS1.4

(C-FS1.4) Does your organization offer its employees an employment-based retirement scheme that incorporates ESG criteria, including climate change?

Employment-based retirement scheme that

incorporates ESG criteria, including climate

change

Describe how funds within the retirement scheme are selected and

how your organization ensures that ESG criteria are incorporated

Provide reasons for not incorporating ESG criteria into your

organization’s employment-based retirement scheme and your plans for

the future

Row

No, and we do not plan to in the next two years <Not Applicable> Allstate continues to evaluate investment options that incorporate ESG criteria

if appropriate for the plan.

C2. Risks and opportunities

C2.1

CDP Page of 735

(C2.1) Does your organization have a process for identifying, assessing, and responding to climate-related risks and opportunities?

Yes

C2.1a

(C2.1a) How does your organization define short-, medium- and long-term time horizons?

From (years) To (years) Comment

Short-term 0 1 For more information, see allstatesustainability.com

Medium-term 1 7 For more information, see allstatesustainability.com

Long-term 7 30 For more information, see allstatesustainability.com

C2.1b

(C2.1b) How does your organization define substantive financial or strategic impact on your business?

Allstate considers the totality of various factors, instead of applying a one-size-fits-all definition of substantive impact.

Definition of substantive financial or strategic impact: In defining substantive financial or strategic impact to the company, Allstate considers multiple factors such as the

pace of change, likelihood, potential impact, and ability to achieve strategic goals. Allstate’s holistic risk analysis incorporates financial, customer, employee, agent,

reputation, regulatory/legal and technology impacts that are sized for the enterprise as well as individual business units.

Quantifiable Indicator: Risks that are deemed substantive, leveraging our enterprise risk scale and the following definition of an elevated risk: Increased potential for loss

due to considerable knowledge gaps, inadequate mitigation strategies, and/or elevated uncertainty about underlying risk dynamics pointing to a loss that may exceed the

respective risk tolerance. Risk requires plan for improvement and continuous monitoring. Non-quantifiable risks are also taken into account during substantive impact

evaluation.

Substantive financial or strategic impacts on Allstate’s business for the purposes of assessing climate-related risks are identified by assessing alignment with enterprise risk

and return principles. We take risk prudently and purposefully, without jeopardizing Allstate’s financial and franchise foundation. Allstate’s activities and risks are managed in a

manner that:

Maintains capital above a regulatory minimum threshold after a stress event (quantifiable indicators include deployable capital, Debt-to-Capital Ratio, fixed coverage ratio

and Risk Based Capital ratio)

Maintains liquidity that will allow the company to meet capital needs and customer obligations (quantifiable measures are applied on a monthly and quarterly basis)

Maintains an investment-grade senior debt rating (agencies include A.M Best, Standard & Poor’s and Moody’s)

Allows Allstate to meet planned dividend commitments

Enables Allstate to maintain its reputation as a top tier institution operating with the utmost integrity (Allstate uses a scorecard to measure reputational trends across

different segments such as customers, employees, consumers, and agents/financial specialists)

C2.2

•

CDP Page of 736

(C2.2) Describe your process(es) for identifying, assessing and responding to climate-related risks and opportunities.

Value chain stage(s) covered

Direct operations

Upstream

Risk management process

Integrated into multi-disciplinary company-wide risk management process

Frequency of assessment

More than once a year

Time horizon(s) covered

Short-term

Medium-term

Long-term

Description of process

Allstate manages climate change risk as part of the Enterprise Risk and Return Management (ERRM) program, which the Board oversees through its Risk and Return

Committee (RRC). Enterprise risks and opportunities are identified, prioritized, measured, managed, monitored, and reported under an integrated ERRM framework, which

incorporates the company’s risk appetite statement, risk and return principles, key risk areas, governance, modelling, analytics, and transparent management dialogue.

Risk identification and assessment: ERRM facilitates a risk identification process that identifies the top risks with a potentially substantive financial or strategic impact on the

organization. Risks and opportunities are evaluated in six key areas: insurance, investment, financial, operational, strategic execution, and culture. The process evaluates

risks by assessing the likelihood of occurrence and the potential impact in the context of the time horizon for achieving Allstate’s objectives both at the enterprise level and

within business units. This evaluation may take into consideration a variety of factors with respect to any particular risk, including its susceptibility to quantitative analysis, its

speed of emergence, and Allstate’s level of preparedness. Climate-related risks are assessed across several dimensions:

1) Strategic and Operating Plans: ERRM completes annual risk and return assessments for both the operating (annual) plan and the strategic (3-year) plans, focused on

alignment to risk and return principles. Plan assessments evaluate internal and external risk drivers, underlying assumptions, quantitative measures, and execution risk.

2) Modeling: The Catastrophe Modeling and Analytics Team and Pricing Groups monitor climate change information as part of their analysis of weather-related trends.

Models developed internally and by third-party vendors are used along with Allstate’s own historical data in assessing property insurance exposure to catastrophe losses.

Losses and changes in exposure are analyzed and reported to senior leaders biannually, with additional monitoring provided as needed. Pricing is aligned with the full

exposure of the risk, including weather-related perils.

3) Management and Board Reporting: Key risks are assessed and reported at least quarterly via ERRM’s comprehensive Summary Report, prepared for senior

management and the Board’s RRC.

Oversight and decision-making structure: The Audit Committee has responsibility for risks discussed by the Board’s RRC for consideration in its control environment. The

Board’s RRC is responsible for the evaluation of the ERRM function. In addition to the Board’s RRC, an executive management-level committee and business unit chief risk

officers (CROs) are responsible for program oversight. The Enterprise Risk & Return Council (ERRC) is the senior risk management committee that establishes risk-return

targets, determines capital levels, and directs integrated strategies and actions. The ESG Steering Committee (formerly the Sustainability Council) further promotes climate

change accountability. Committee members, consisting of senior leadership from across the organization, utilize their unique perspectives and knowledge of the company’s

operations and customers to identify key risks and opportunities related to sustainable business practices. The ESG Steering Committee meets monthly to review existing

and emerging environmental and social issues, identify opportunities and strategies to address these issues, and encourage and enable employee engagement with the

company’s sustainability strategy.

C2.2a

CDP Page of 737

(C2.2a) Which risk types are considered in your organization's climate-related risk assessments?

Relevance

inclusion

Please explain

Current

regulation

Relevant,

always

included

As an insurance company, Allstate is subject to extensive regulation and involved in various legal and regulatory actions, all of which affect specific aspects of the company’s business.

Allstate proactively monitors regulatory proposals that will have an impact on its business. Current regulations are included in Allstate’s risk assessment and risk management processes to

ensure that any risks are managed properly, including those that are climate related. Additional governance is provided through Allstate’s compliance processes and “three lines of

defense” risk model. For example, although Allstate is not currently subject to climate-related regulations for managing greenhouse gas emissions, it is possible that other types of

regulations may indirectly affect the company’s ability to manage climate-related risks to its business. In various states, Allstate is required to participate in assigned risk plans, reinsurance

facilities, and joint underwriting associations that provide insurance coverage to individuals or entities that otherwise are unable to purchase such coverage from private insurers. Over time,

Allstate consistently manages and monitors its aggregate insurance exposure to catastrophe losses in certain regions of the country that are subject to high levels of natural catastrophes.

However, the impact of these actions may be diminished by the growth in insured values and the effect of state insurance laws and regulations. Changes to current regulations, either

directly or indirectly climate-related, could result in higher operating costs and expenses for Allstate.

Emerging

regulation

Relevant,

always

included

Allstate is subject to extensive regulation and involved in various legal and regulatory actions, all of which affect specific aspects of the company’s business. Allstate proactively monitors

regulatory proposals that will have an impact on its business. Emerging regulations are included in Allstate’s risk assessment and risk management process to ensure that any risks are

managed properly, including anything climate-related. Additional governance is provided through Allstate’s compliance processes and independent oversight. For example, emerging

regulations may affect the company’s ability to manage climate-related risks to its business. In various states, Allstate is required to participate in assigned risk plans, reinsurance facilities

and joint underwriting associations that provide insurance coverage to individuals or entities that otherwise are unable to purchase such coverage from private insurers. Over time, Allstate

consistently monitors and manages its aggregate insurance exposure to catastrophe losses in certain regions of the country that are subject to high levels of natural catastrophes. However,

the impact of these actions may be diminished by the growth in insured values and the effect of state insurance laws and regulations. Emerging regulations, either directly or indirectly

climate-related, could result in higher operating costs and expenses for Allstate. Regulations focused on energy efficiency or carbon reduction could require changes to Allstate’s

operations and infrastructure.

Technology Relevant,

always

included

Technological innovations that improve energy efficiency in buildings are of great value to Allstate’s operations and are considered in its risk assessment process when evaluating these

types of capital expenditures. Return on investment is examined, and depending on the total costs involved, projects are reviewed at the appropriate level of approval within Allstate’s

organizational structure. Another example of a climate-related technological risk to Allstate is the processing of claims during hurricanes or severe weather events. In order to handle claims

on-site, Allstate needs reliable, secure, and effective technology for all communications and data processing. Vulnerabilities such as connectivity issues, security breaches, and insufficient

access to electricity must be mitigated, and these risks are included in Allstate’s risk assessment processes to ensure proper business continuity.

Legal Relevant,

always

included

Legal risks are included in the six categories of risks regularly assessed by Allstate. Losses from legal and regulatory actions may be material to Allstate’s operational results, cash flows,

and financial condition. Allstate is involved in various legal actions, including class-action litigation challenging a range of company practices and coverage provided by its insurance

products, some of which involve claims for substantial or indeterminate amounts. Allstate is also involved in various regulatory actions and inquiries, including market conduct exams by

state insurance regulatory agencies. In the event of an unfavorable outcome in any of these matters, the ultimate liability may be in excess of amounts currently accrued, if any, and may

be material to Allstate’s operational results, cash flows, and financial condition. One example of a climate-related legal risk to Allstate involves new notification of policy coverage in the

state of California for losses due to flood, mudslides, and earth movement related to recent wildfires. The California Department of Insurance has determined that while flood, mudslides,

and earth movement are excluded causes of loss in standard policy language, they must be covered if the proximate cause of loss was triggered by a wildfire. To eliminate disputes

regarding what is/isn’t covered, Allstate may choose to pay claims that have not been considered in the pricing and underwriting strategies for these property policies to avoid potential

legal action.

Market Relevant,

always

included

Allstate considers market risk (the risk of loss from adverse changes in the value of the investment portfolio) in its assessment of climate risks. Investment portfolio management factors in

climate risk when considering specific investments, and from a portfolio perspective, Allstate aggregates and measures its sector exposures to more carbon-intensive industries,

considering their market risk profile and contributions to the portfolio. To further enhance Allstate’s identification and measurement of climate risks in the investment portfolio, the company

is working with a consultant to establish a financed emissions inventory and is evaluating evolving methodologies and approaches to explicitly measure the potential impact of climate

change on the market value of its investments. Allstate wants to help the world transition to a lower-carbon emissions footprint by considering investments in companies that will provide

capital for their transition. These investments also provide opportunities for value creation within the investment portfolio and improve returns to shareholders.

Reputation Relevant,

always

included

Allstate’s Strategic Risk Management process addresses loss associated with inadequate or flawed business planning or strategy setting. This includes reputational risk, which is the

potential for negative publicity regarding Allstate’s conduct or business practices to adversely impact profitability, operations, or the consumer base, or to require costly litigation and other

defensive measures. Climate-related reputational risks are incorporated in this process. Allstate proactively monitors its sustainability efforts through collaborative efforts across the

organization. The Sustainability Report is published annually, providing evidence of Allstate’s efforts and commitments. Further, ongoing support is provided by senior management through

various governance processes, including the Enterprise Risk and Return Council. Additionally, Allstate manages climate-related reputational risk through Allstate Board and senior

management strategy reviews that include a risk and return assessment of the company's strategic plans and ongoing monitoring of its strategic actions and the external competitive

environment. As a property-casualty insurance company, Allstate’s ability to pay claims in a timely fashion following outbreaks of severe weather and catastrophes is critical in managing

climate-related reputational risk. Allstate seeks to maintain an understanding of climate risks that directly affect both its liability insurance products and its assets, and the company acts to

modify those products and protect those assets accordingly to protect its shareholders, customers, and reputation. In doing so, Allstate enhances its reputation and wins support from

consumers, which can lead to increased willingness to buy a policy and recommend Allstate to other potential customers.

Acute

physical

Relevant,

always

included

The increased impacts of weather events and natural catastrophes affect the cost and number of claims submitted by Allstate’s customers. Associated rate increases can also impact the

Allstate customer experience and the company’s reputation. Allstate’s success depends, in part, on its ability to properly model, price, and manage climate-related risks, as well as to

develop products and services that address climate concerns. For example, there is generally an increase in the frequency and severity of auto and property claims when severe weather

conditions occur. Areas of heightened potential catastrophe losses due to hurricanes include major metropolitan centers in counties along the Eastern and Gulf coasts of the United States.

Additionally, wildfires and severe weather pose significant catastrophe risks to the company. Financial risks related to hurricanes, wildfires, and severe weather are included in Allstate’s

climate risk assessments. In addition, catastrophe teams model hurricanes and tropical storms, wildfires, and severe weather such as tornadoes and hail. Allstate monitors experience

closely to ensure trends are reflected in its pricing, thus mitigating its exposure and aligning pricing with exposure. On the Investments side, Allstate also models and measures potential

impacts on real estate and natural capital investments, as well as limits concentrations in catastrophe-prone areas.

Chronic

physical

Relevant,

always

included

In addition to exacerbating the impacts of natural catastrophes, climate change will likely also drive chronic impacts such as sea level rise. Chronic climate-related physical impacts are

regularly included in Allstate’s risk assessment process, to ensure the company is properly mitigating the potential risks. The increased risks in coastal regions due to sea level rise affect

the cost and number of claims submitted by Allstate customers. Associated rate increases can also impact the Allstate customer experience and the company’s reputation. Allstate’s

success depends, in part, on its ability to properly model, price and manage climate-related risks, as well as develop products and services to address the chronic physical impacts of

climate change. For example, in order to mitigate potential losses in areas subject to sea level rise, Allstate has been selective with personal homeowners' insurance new business

underwriting in certain coastal areas and utilizes deductibles or exclusions where appropriate. Allstate monitors experience closely to ensure trends are reflected in its pricing, thus

mitigating its exposure and aligning pricing with risk.

C-FS2.2b

(C-FS2.2b) Do you assess your portfolio’s exposure to climate-related risks and opportunities?

We assess the portfolio's exposure Explain why your portfolio's exposure is not assessed and your plans to address this in the future

Banking (Bank) <Not Applicable> <Not Applicable>

Investing (Asset manager) <Not Applicable> <Not Applicable>

Investing (Asset owner) Yes <Not Applicable>

Insurance underwriting (Insurance company) Yes <Not Applicable>

C-FS2.2c

CDP Page of 738

(C-FS2.2c) Describe how you assess your portfolio’s exposure to climate-related risks and opportunities.

Type of risk

management

process

Proportion

of portfolio

covered by

risk

management

process

Type of

assessment

Time

horizon(s)

covered

Tools and

methods

used

Provide the rationale for implementing this process to assess your portfolio's exposure to climate-related risks and

opportunities

Banking

(Bank)

<Not

Applicable>

<Not

Applicable>

<Not

Applicable>

<Not

Applicable

<Not

Applicable>

Investing

(Asset

manager)

<Not

Applicable>

<Not

Applicable>

<Not

Applicable>

<Not

Applicable

<Not

Applicable>

Investing

(Asset

owner)

Integrated into

multi-

disciplinary

company-wide

risk

management

process

100 Qualitative

and

quantitative

Short-term

Medium-

term

Long-term

Risk models

Internal

tools/methods

External

consultants

Investment portfolio management factors in climate risk when considering specific investments, and from a portfolio

perspective, Allstate aggregates and measures its sector exposures to more carbon-intensive industries, considering their

market, liquidity, and credit risk profiles and contributions to the portfolio. To further enhance Allstate’s identification and

measurement of climate risks in the investment portfolio, the company:

1) has expanded its external data sources,

2) worked with an external consultant and is continuing to establish a scope 3 financed emissions inventory, and

3) is evaluating evolving methodologies and approaches (including third party models) to explicitly measure the potential

impact of climate change on the market value of its investments.

To measure physical risks, Allstate performs catastrophe risk modeling using third party risk models on its owned commercial

real estate portfolio on at least an annual basis.

Insurance

underwriting

(Insurance

company)

Integrated into

multi-

disciplinary

company-wide

risk

management

process

100 Qualitative

and

quantitative

Short-term

Medium-

term

Long-term

Risk models

Scenario

analysis

Internal

tools/methods

Allstate works to understand climate risks that affect its insurance products and assets. Allstate’s Catastrophe Modeling and

Analytics Team and pricing groups monitor climate change information and update leadership regularly. Allstate manages

climate-related risks and opportunities within its Enterprise Risk and Return Management (ERRM) framework, which applies

risk-return principles, governance, modeling, and analytics, while maintaining the company’s strong foundation of financial

strength, building strategic value, and optimizing return. Climate-related risks are identified, measured, managed, monitored

and reported while focusing on insurability, underwriting and investments.

Allstate has been able to adapt to increased catastrophe risk through actions that include:

1) Purchasing multi-year reinsurance protection as well as aggregate coverage, giving Allstate protection in years with extreme

losses across multiple risk types;

2) Limiting new business for Allstate’s personal lines auto and property insurance in areas most exposed to hurricanes,

including coastal areas in Southern and Eastern states;

3) Implementing Tropical Cyclone and/or Wind/Hail deductibles or exclusions where appropriate;

4) Partnering with federal and state governments for over 25 years to create programs to help provide protection for insureds

most exposed to climate change through the establishment of entities like Florida Citizens, the Florida Hurricane Catastrophe

Fund, the Texas Windstorm Insurance Association, the California Earthquake Authority, as well as leading industry initiatives

through the founding of ProtectingAmerica.org;

5) Limiting coverage exposure for existing and new risks as hurricanes/tropical storms imminently approach landfall.

In this context ‘portfolio coverage’ is based on the total value of investments for which short- and long-term potential

exposures to environmental and climate-related risks are monitored.

C-FS2.2d

(C-FS2.2d) Does your organization consider climate-related information about your clients/investees as part of your due diligence and/or risk assessment

process?

We consider climate-related information Explain why you do not consider climate-related information and your plans to address this in the future

Banking (Bank) <Not Applicable> <Not Applicable>

Investing (Asset manager) <Not Applicable> <Not Applicable>

Investing (Asset owner) Yes <Not Applicable>

Insurance underwriting (Insurance company) Yes <Not Applicable>

C-FS2.2e

CDP Page of 739

(C-FS2.2e) Indicate the climate-related information your organization considers about clients/investees as part of your due diligence and/or risk assessment

process, and how this influences decision-making.

Portfolio

Investing (Asset owner)

Type of climate-related information considered

Emissions data

Emissions reduction targets

Climate transition plans

Process through which information is obtained

Directly from the client/investee

Data provider

Industry sector(s) covered by due diligence and/or risk assessment process

Energy

Materials

Capital Goods

Commercial & Professional Services

Transportation

Automobiles & Components

Consumer Durables & Apparel

Consumer Services

Retailing

Food & Staples Retailing

Food, Beverage & Tobacco

Household & Personal Products

Health Care Equipment & Services

Pharmaceuticals, Biotechnology & Life Sciences

Software & Services

Technology Hardware & Equipment

Semiconductors & Semiconductor Equipment

Telecommunication Services

Media & Entertainment

Utilities

Real Estate

State how this climate-related information influences your decision-making

Allstate classifies sectors based on exposure to environmental risks, including climate change, and analyzes environmental risks. The sizing and maturity profile of Allstate’s

positions is considered through its risk management process. Sectors with higher potential exposure are primarily invested in public markets, providing flexibility to adjust

exposures. Allstate classifies commercial real estate investments based on their modeled exposure to catastrophe risks and incorporates these risks in its underwriting and

insurance practices. Allstate continues to evolve its risk management processes regarding climate risk. The company incorporates tools for ESG and climate-related data

into certain processes and trains the Investments team on their use.

Examples of climate-related decisions: In 2021, Allstate began using ESG data feeds and analysis from expert research firms to assess its assets, exposures and ESG

risks. In 2022, the company finalized a commitment to set a goal for its financed emissions by the end of 2025. Allstate has been disclosing Scope 1 and 2 emissions for its

CDP submission since 2010. The company performs a Scope 3 review of financed emissions covering the investment portfolio subject to data availability and is enhancing

its baseline inventory while working towards setting a target year. Allstate plans to expand the Task Force on Climate-Related Financial Disclosures (TCFD) report to reflect

the work done on measuring both operational emissions and financed emissions. Allstate is developing a financed emissions inventory that helps identify the impact of its

investment portfolio on climate change and facilitate emissions reductions. Allstate reports its largest emitters (where data is available) by company and sector to

committees and asset managers on a periodic basis. For the highest emitters, Allstate also tracks the companies' future net zero targets. Allstate continues to make

commitments to private companies that are committed to energy transition and sustainable investing.

Portfolio

Insurance underwriting (Insurance company)

Type of climate-related information considered

Other, please specify (Individual risk characteristics including, but not limited to, location, wildfire risk score, and catastrophe modeling.)

Process through which information is obtained

Directly from the client/investee

From an intermediary or business partner

Data provider

Public data sources

Industry sector(s) covered by due diligence and/or risk assessment process

Consumer Services

State how this climate-related information influences your decision-making

Individual risks are assessed during the new business underwriting process.

C2.3

(C2.3) Have you identified any inherent climate-related risks with the potential to have a substantive financial or strategic impact on your business?

Yes

C2.3a

CDP Page of 7310

(C2.3a) Provide details of risks identified with the potential to have a substantive financial or strategic impact on your business.

Identifier

Risk 1

Where in the value chain does the risk driver occur?

Insurance underwriting portfolio

Risk type & Primary climate-related risk driver

Current regulation Regulation and supervision of climate-related risk in the financial sector

Primary potential financial impact

Increased indirect (operating) costs

Climate risk type mapped to traditional financial services industry risk classification

Insurance risk

Company-specific description

Allstate is subject to extensive regulation and is involved in various legal and regulatory actions, all of which have an effect on specific aspects of its business. Over time,

Allstate consistently monitors and manages its aggregate insurance exposure to catastrophe losses in certain regions of the country that are subject to high levels of natural

catastrophes. However, the impact of these actions may be diminished by the growth in insured values and the effect of state insurance laws and regulations. In addition, in

various states Allstate is required to participate in assigned risk plans, reinsurance facilities, and joint underwriting associations that provide insurance coverage to

individuals or entities that otherwise are unable to purchase such coverage from private insurers. Because of Allstate’s participation in these, and other state facilities such

as wind pools, it may be exposed to both losses that surpass the capitalization of these facilities and assessments from these facilities.

Most notably, the residual markets of the Texas Windstorm Insurance Association (TWIA), North Carolina Joint Underwriting Association (NCJUA), and North Carolina

Insurance Underwriting Association (NCIUA) have the potential for significant member assessments to Allstate. The financial implications related to regulatory risks can

vary. Regulatory constraints often inform those areas where Allstate cannot earn appropriate returns or chooses to exclude wind on policies written. In such instances,

Allstate typically participates in residual market mechanisms.

It is estimated that Allstate has a 1% probability of exceeding $130M of loss on an annual aggregate basis, after the application of any applicable reinsurance from residual

market assessments. The risk of these assessments is mitigated by including them as defined subject loss within Allstate’s Nationwide Excess Catastrophe Reinsurance

Program. Additionally, potential regulatory changes could result in higher operating and underwriting expenses for Allstate.

Time horizon

Medium-term

Likelihood

Unlikely

Magnitude of impact

Low

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

130000000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

The financial implications related to regulatory risks can vary. Regulatory constraints often inform those areas where Allstate cannot earn appropriate returns or chooses to

exclude wind on policies written. In such instances, Allstate typically participates in residual market mechanisms.

Breakdown of figure: The $130M loss figure was calculated based on an analysis of potential loss assessments from residual market mechanisms at a 1% probability of

exceedance on an annual aggregate basis, after the application of any applicable reinsurance. It was derived by considering member assessments for any given year,

leveraging output from the Verisk (formerly AIR Worldwide) hurricane model and sorting those years from largest to smallest. The 99th percentile loss year was then

selected. The assessments underlying these calculations occur when the residual market's capital and risk transfer program is not sufficient to cover member losses, or

when particular layers of the program are identified as member assessment layers. The $130M figure is largely driven by Allstate's participation in the Texas Windstorm

Insurance Association (TWIA), and the North Carolina Joint Underwriting Association (NCJUA) and Insurance Underwriting Association (NCIUA). Although Allstate is also

involved in other residual markets, the anticipated assessments for most of these mechanisms are recoupable.

Cost of response to risk

1347857

Description of response and explanation of cost calculation

Situation: Regulatory constraints often inform those areas where Allstate is unable to earn appropriate returns or chooses to exclude wind on policies written. In such

instances, Allstate participates in residual market mechanisms.

Task: Understand the potential impact of residual market assessments.

Action: Allstate is at risk of at least a $130M residual market assessment/loss at a 1% likelihood for any given year.

Result: To mitigate the risk of potential non-recoupable assessments, Allstate includes non-recoupable assessments as covered subject loss within its Nationwide Excess

Catastrophe Reinsurance Program. The program is placed on an annual cadence, effective on June 1 of each year. Allstate continues to monitor the potential for future

residual market assessments based on both internal analysis and support from its reinsurance intermediary, Aon. The cost of Allstate's reinsurance programs was $788M in

2022, but it covers far more than just the potential for residual market assessments. Allstate monitors all significant enterprise risks, on a regular basis, using fluid risk

identification processes to reflect a continuously shifting external and internal risk environment. Property catastrophe exposure management includes purchasing

reinsurance to provide coverage for known exposure to hurricanes, earthquakes, wildfires, and other catastrophes. Allstate also promotes measures to prevent and mitigate

CDP Page of 7311

losses and make homes and communities more resilient, including enactment of stronger building codes and effective enforcement of those codes, adoption of sensible land

use policies, and development of effective and affordable methods of improving the resilience of existing structures. For example, Allstate is a member of the Insurance

Institute for Business & Home Safety (IBHS), an organization that conducts objective, scientific research to identify and promote effective actions that strengthen homes,

businesses, and communities against natural disasters and other causes of loss. The relationship with IBHS is considered ongoing and Allstate intends to continue its

support as a contributing member via annual dues. This is an ongoing engagement to evaluate climate change as it relates to the company’s future risk exposure.

Breakdown of figure: Over the past five years, on an annual basis, Allstate spent an average of $1.35 million to support the efforts of IBHS through annual dues.

Comment

For more information, see allstatesustainability.com

Identifier

Risk 2

Where in the value chain does the risk driver occur?

Insurance underwriting portfolio

Risk type & Primary climate-related risk driver

Acute physical Storm (including blizzards, dust, and sandstorms)

Primary potential financial impact

Increased indirect (operating) costs

Climate risk type mapped to traditional financial services industry risk classification

Capital adequacy and risk-weighted assets

Company-specific description

Climate change, to the extent it produces changes in weather patterns, could affect the frequency or severity of weather events and wildfires as well as the demand, price,

and availability of homeowners insurance and the results for Allstate. As a property and casualty insurer, Allstate may face significant losses from catastrophes. The

increased frequency and severity of weather events and natural catastrophes affect the cost and number of claims submitted by Allstate customers.

Associated rate increases can also impact Allstate’s customers and reputation. Allstate’s success depends, in part, on its ability to properly model, price and manage

climate and weather-related risks, as well as develop products and services to address climate change. Areas of heightened potential catastrophe losses due to hurricanes

include major metropolitan centers in counties along the eastern and gulf coasts of the United States, such as the Northeast and Texas, where Allstate has a larger share of

the insurance market when compared to other states, thereby causing a concentration of risk in certain metro areas. Any growth in hurricane-exposed states are closely

monitored to ensure appropriate returns are earned on any new business written. Annual projection scenarios are conducted to assess future loss potential based on

anticipated changes in the underlying book of business and future risk transfer purchase. For Wildfire, California is the state of largest concern; however, Allstate does not

currently write new property business for owners and condo lines within that state as of November 2022.

Allstate's risk transfer program is placed each year to help support its stated corporate risk tolerance of having less than a 1% likelihood of exceeding annual aggregate

catastrophe losses of $2.5 billion net of reinsurance from hurricanes, wildfires, and earthquakes. Allstate therefore takes into consideration the concentrations of risk in

states such as Texas and New York. As of June 1, 2022, Allstate was covered on a first event Nationwide (ex-FL) basis for losses in excess of $6.6 billion after any

applicable retentions and co-participation. This tower is in addition to stand-alone towers for Florida, the National General Reciprocal companies, and National General

Lender Services. Allstate is also working to promote measures to prevent and mitigate losses and make homes and communities more resilient.

Time horizon

Short-term

Likelihood

Likely

Magnitude of impact

Medium

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

3338000000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

As of Dec. 31, 2022, Allstate has less than a 1% likelihood of exceeding annual aggregate catastrophe losses of $2.5 billion net of reinsurance from hurricanes, wildfires,

and earthquakes based on modelled assumptions and applications currently available. The use of different assumptions and updates to industry models, and updates to

Allstate’s risk transfer program, could materially change the projected loss. Allstate’s growth strategies include areas where it believes it can enhance diversification and

earn an appropriate return for the risk. In addition, Allstate has exposure to other severe weather events.

Breakdown of figure: Average calendar year losses, including claims adjustments expenses over the past 3 years (2022, 2021 and 2020), are $921 million

[($399M+$742M+$1,001M)/3]+[($52M+$269M+$300M)/3] for hurricane and wildfire, respectively. In addition, Allstate has exposure to other severe weather events. Allstate

defines severe weather losses from events including rain, wind/hail, and tornadoes as chronic catastrophe loss. These are not caused by, but could be made worse by,

climate change. The average calendar year losses, including claims adjustment expenses, of severe weather catastrophe losses (such as rain, wind/hail and tornadoes) of

the past 3 years (2022, 2021 and 2020) are $2.4 billion [($192M+$107M+$43M)/3+($1,936M+$1,878M+$1,940M)/3+($515M+$611M+$30M)/3] for tornado, wind/hail, and

freeze/other events, respectively. These losses are differentiated from severe weather events resulting from hurricane, wildfire and earthquake (Acute risk). In total, the

$921M + $2.4B = $3.34B, which is listed as the potential financial impact. Note that these figures exclude prior year reserve re-estimates and aggregate reinsurance

recoveries.

Cost of response to risk

788000000

CDP Page of 7312

Description of response and explanation of cost calculation

Situation: Allstate uses models developed by third-party vendors and its own historical data in assessing its property insurance exposure to catastrophe losses. These

models assume various conditions and probability scenarios. Allstate has addressed its risk of hurricane loss by, among other actions, purchasing reinsurance. Insurance

underwriting principles and reinsurance purchase are also guided by Allstate’s corporate risk tolerance.

Task: Monitor total risk relative to the corporate risk tolerance.

Action: In areas most exposed to hurricanes, Allstate is limiting personal homeowners, landlord package, and manufactured home new business policies, implementing

tropical cyclone deductibles where appropriate, and not offering continuing coverage on certain policies. Allstate continues to seek appropriate returns for the risks it writes.

As of Dec. 31, 2022, Allstate has less than a 1% likelihood of exceeding annual aggregate catastrophe losses of $2.5 billion net of reinsurance from hurricanes, wildfires,

and earthquakes based on modeled assumptions and applications currently available, which is within its corporate risk tolerance.

Result: Continued monitoring and active management of Allstate’s risks may highlight further necessary actions, in geographies where it is not achieving appropriate risk-

adjusted returns. For example, Allstate stopped offering new business policies for Owners and Condo risks in California in November 2022. However, Allstate may maintain

or opportunistically increase its presence in areas where it achieves adequate returns and does not materially increase its catastrophe risk. Property catastrophe exposure

management includes purchasing reinsurance to provide coverage for known exposure to catastrophes. As of June 1, 2022, Allstate was covered on a first event

Nationwide (ex-FL) basis for losses in excess of $6.6 billion after any applicable retentions (historically $500M for this program) and co-participation. This tower is in

addition to stand-alone towers for Florida, the National General Reciprocal companies, and National General Lender Services. Allstate is also working to promote measures

to prevent and mitigate losses and make homes and communities more resilient.

Breakdown of figure: The total cost of Allstate’s catastrophe reinsurance program during 2022 was $788 million, which represents the total premium across all traditionally

placed and cat bond contracts in 2022.

Comment

For more information, see allstatesustainability.com

Identifier

Risk 3

Where in the value chain does the risk driver occur?

Direct operations

Risk type & Primary climate-related risk driver

Chronic physical Changing precipitation patterns and types (rain, hail, snow/ice)

Primary potential financial impact

Increased indirect (operating) costs

Climate risk type mapped to traditional financial services industry risk classification

Operational risk

Company-specific description

In addition to extreme weather events, Allstate is also subject to claims arising from weather events such as winter storms, rain, hail, and high winds. Climate change could

produce changes in weather patterns and increase the frequency of severe weather. There is generally an increase in the frequency and severity of auto and property

claims when severe weather conditions occur. Severe weather trends can increase operational risks, disrupting customer policy service and claims handling.

Allstate ensures business continuity following a catastrophe through a multifaceted readiness and response strategy. The Allstate Foundation partners with agents and

nonprofits to prepare communities for disasters. At the state level, Allstate has successfully advocated for changes that address climate change by strengthening building

codes, expanding emergency response capabilities, and creating catastrophe insurance pools. Following a catastrophe, the Allstate Disaster Help Center and Mobile Claims

Centers allow claims to be serviced rapidly, online and on the ground. Claims contractors provide additional support during periods of claims staffing shortages, including

during natural disasters. Such provisions support disaster-readiness for customers, communities, and business operations. A climate-related technological risk to Allstate

lies in the processing of claims during severe weather events. To handle claims on-site, Allstate needs reliable, secure, and effective technology. Vulnerabilities such as

connectivity issues, security breaches, or access to electricity must be mitigated, so these are included in Allstate’s risk assessment process to ensure proper business

continuity. The impact of prior severe weather events, such as Hurricane Ian in 2022, validated the effectiveness of Allstate’s catastrophe response and risk management

programs. Nevertheless, an increase in any year’s weather-related catastrophes could exert operational pressure on Allstate’s climate response team, which could lead to a

declining customer experience and associated loss from resulting client retention decreases. Likewise, Allstate operates offices throughout the United States, and a

weather-related event could cause an office to temporarily shut down, which could lead to operational loss. This is mitigated by the plans Allstate’s Business Continuity

team has in place in the event that a given office needs to temporarily shut down due to a geographically focused weather-related event.

Time horizon

Short-term

Likelihood

Unlikely

Magnitude of impact

Low

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

166900000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

Breakdown of figure: The average loss of the past three years (2020, 2021 and 2022) for catastrophes is $3.34 billion. Increased operational risk in servicing claims may

result in a delay of payments and higher claims payments. The financial impact of $167 million was calculated by assuming that catastrophe losses increase by 5% due to

CDP Page of 7313

operational challenges. $3.34 billion * 5% = $167 million.

Cost of response to risk

437000000

Description of response and explanation of cost calculation

Allstate ensures business continuity following a catastrophe through a multifaceted readiness and response strategy. Following a catastrophe, the Allstate Disaster Help

Center and Mobile Claims Centers allow claims to be serviced rapidly, online and on the ground. Claims contractors provide additional support during periods of claims

staffing shortages, including during natural disasters. Such provisions support disaster-readiness for Allstate’s customers, communities, and business operations. A climate-

related technological risk to Allstate lies in the processing of claims during severe weather events. To handle claims on-site, Allstate needs reliable, secure, and effective

technology. Vulnerabilities such as connectivity issues, security breaches, or access to electricity must be mitigated, so these risks are included in Allstate’s risk

assessment process to ensure proper business continuity. The Business Continuity Team is in place to ensure that Allstate can continue to operate in the case that a given

office location, for example, has to temporarily shut down and/or if employees in a given location are required to temporarily relocate due to a weather-related event. The

Business Continuity Team develops plans which are implemented as the need arises. These plans are regularly tested during various business continuity exercises. Allstate

deploys significant claims resources preparing for and responding to catastrophes to ensure appropriate claims handling and execution.

Breakdown of figure: The $437M figure represents Allstate’s approximate planned unallocated loss adjustment expenses tied to catastrophe losses for 2022.

Comment

For more information, see allstatesustainability.com

Identifier

Risk 4

Where in the value chain does the risk driver occur?

Direct operations

Risk type & Primary climate-related risk driver

Reputation Shifts in consumer preferences

Primary potential financial impact

Decreased revenues due to reduced demand for products and services

Climate risk type mapped to traditional financial services industry risk classification

Reputational risk

Company-specific description

Increased scientific and policy research has in turn increased customer awareness of both climate change issues and the capacity of organizations to mitigate climate

change-related risks and impacts. This affects Allstate’s reputation regarding sustainable operations and products. As a property-casualty insurance company, Allstate

seeks to maintain an understanding of climate risks that directly affect both its liability insurance products and its assets, and the company acts to modify those products

and protect those assets accordingly to protect its shareholders, customers, and reputation. In doing so, Allstate enhances its reputation and earns support from

consumers, which can lead to increased willingness to buy a policy and recommend Allstate to other potential customers.

Time horizon

Medium-term

Likelihood

Very unlikely

Magnitude of impact

Medium-low

Are you able to provide a potential financial impact figure?

Yes, a single figure estimate

Potential financial impact figure (currency)

514120000

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

Reputational damage is a significant risk to Allstate. If customers perceive that Allstate is not responding appropriately to climate change risk and they lose confidence in

Allstate’s management approach, demand for Allstate’s products and services could decrease. As a company’s reputation decreases, so may corresponding support for the

company, including for behaviors with a clear financial impact, such as willingness to buy a policy and recommend Allstate to other potential customers. As a result, there

could be a negative impact on revenue in the short and long term. A decrease in the company's reputation may also lead to a decrease in valuation of the company's stock.

Breakdown of figure: Allstate does not have a reliable method for accurately estimating the financial impacts of this risk, but expects that it would affect less than 1% of

revenues, which is reflected by the figure in “Potential financial impact.” (1% of 2022 revenues of $51,412,000,000)

Cost of response to risk

4000000

Description of response and explanation of cost calculation

Allstate manages reputational risk via multiple channels. These channels include measuring and reporting the company’s energy use and greenhouse gas emissions

annually and allocating resources to Allstate’s reputation management department. For example, Allstate continually seeks stakeholder input to ensure it is focusing on

what matters regarding sustainability and corporate responsibility. In 2020, Allstate completed a materiality assessment to identify and prioritize key issues and determined

that climate change is a critical topic for both Allstate and its stakeholders. Allstate’s ESG Steering Committee meets monthly to review existing and emerging environmental

and social issues, identify opportunities and strategies to address these issues, and encourage and enable employee engagement with the company’s sustainability

strategy. By properly managing the risks our stakeholders care most about, Allstate aims to mitigate potential reputational impacts that may arise.

Breakdown of figure: Allstate's management of reputational risk includes costs devoted to its reporting and disclosure practices, internal resources dedicated to Allstate's

CDP Page of 7314

reputation management, and costs incurred by the use of external consultants that help the company to analyze gaps in its climate-related assessments. Allstate estimates

this cost to be approximately $4M annually for management of ESG activities which includes ESG consulting, advocacy professionals who work with the company on

multiple issues at federal and state level, and other professional services.

Comment

For more information, see allstatesustainability.com

Identifier

Risk 5

Where in the value chain does the risk driver occur?

Investing (Asset owner) portfolio

Risk type & Primary climate-related risk driver

Chronic physical Changing temperature (air, freshwater, marine water)

Primary potential financial impact

Reduced profitability of investment portfolios

Climate risk type mapped to traditional financial services industry risk classification

Market risk

Company-specific description

Climate change presents physical risks to real estate and infrastructure investments, as well as transition risks that impact holdings in certain industries, requiring

consideration within investment underwriting and portfolio management activities.

During 2022, Allstate Investments’ risk management team led an effort to provide initial insights about the carbon footprint of its investment portfolio (“how we affect the

planet”) and on the physical and transition risks associated with global warming (“how the planet affects us”). The intent of the exercise was to provide a roadmap for future

analysis, to broadly quantify risks where possible, and to combine rudimentary carbon footprint information across broad portfolio categories including capital structure,

liquidity, credit quality, and maturities.

The carbon footprint analysis provided input to evaluate issues and tradeoffs as Allstate considered various paths toward net zero. Allstate also identified data gaps and will

implement enhanced measurement and evaluation tools during 2023.

For transition risk (framed as “the risk that comes with addressing climate change”), the initial analysis indicated that though coverage is limited, transition risk is unlikely

greater than other market “tail risk” estimates. Physical risk (framed as “the risk that comes from not addressing climate change”) is likely to be real estate-centric for

Allstate’s investment portfolio.

Time horizon

Medium-term

Likelihood

Likely

Magnitude of impact

High

Are you able to provide a potential financial impact figure?

No, we do not have this figure

Potential financial impact figure (currency)

Potential financial impact figure – minimum (currency)

Potential financial impact figure – maximum (currency)

Explanation of financial impact figure

The impact has not been quantified financially. Allstate continues to enhance tools to better measure and quantify transition risk of its investment portfolio.

Cost of response to risk

350000

Description of response and explanation of cost calculation

Allstate’s investment risk management framework helps manage both physical and transition risks. Physical risks for direct real estate are managed through modeling,

underwriting and insurance. Investment portfolio exposure to industries with high carbon emissions and transition risks are managed through credit research process,

investment limits to ensure diversification, and sufficient liquidity to adjust holdings through time.

Breakdown of figure: The cost of response to risk is calculated based on Allstate Investments’ total annual spend on external providers to provide data and analytics to

assist with measuring climate risk in our portfolio and enhancing data on its private investments.

Comment

For more information, see allstatesustainability.com

C2.4

(C2.4) Have you identified any climate-related opportunities with the potential to have a substantive financial or strategic impact on your business?

Yes

CDP Page of 7315

C2.4a

(C2.4a) Provide details of opportunities identified with the potential to have a substantive financial or strategic impact on your business.

Identifier

Opp1

Where in the value chain does the opportunity occur?

Insurance underwriting portfolio

Opportunity type

Products and services

Primary climate-related opportunity driver

Shift in consumer preferences

Primary potential financial impact

Increased revenues through access to new and emerging markets

Company-specific description

Projected electric vehicle (EV) adoption is accelerating with each year. Auto manufacturers are currently planning to transition more of their fleet to attract additional

consumers with choices in model and price, creating many new price entry points with familiar brands. Now that a substantial number of EVs are deployed on the road,

Allstate is engaged with the Insurance Institute for Highway Data Losses and CCC Information Systems to understand EV claims and claims expenses. Allstate is updating

risk analytics to ensure that electric vehicle premiums are calculated using the projected frequency and severity associated with each electric vehicle (inclusive of the safety

features available on each vehicle), bringing the pricing sophistication typical of Allstate to EV policyholders as well.

In addition, Allstate is leveraging its broad portfolio of companies, including Allstate Roadside Services and Allstate Protection Services (Allstate’s device protection

company) to meet the full needs of EV owners.

The impact Allstate hopes to have is to more accurately rate EV owners with their risk and meet their unique, evolving needs.

Time horizon

Medium-term

Likelihood

Very likely

Magnitude of impact

Medium-high

Are you able to provide a potential financial impact figure?

Yes, an estimated range

Potential financial impact figure (currency)

Potential financial impact figure – minimum (currency)

32000000

Potential financial impact figure – maximum (currency)

38000000

Explanation of financial impact figure

Breakdown of figure: The US Department of Energy - Alternative Fuels Data Center (as of 2021), the Edison Electric Institute "Electric Vehicle Sales and the Charging

Infrastructure Required Through 2030" (June 2022), and internal Allstate data/methods (as of Dec. 2022) were used to project the number of registered EVs by the year

2030. The projections in the states where Allstate anticipates growing electric vehicle customers were multiplied by a range of potential changes to Allstate’s market share

of the EV insurance market to calculate the number of additional EVs projected to be insured by Allstate in 2030 due to more accurately rating EV owners with their

associated risk as well as leveraging the broad portfolio of Allstate companies to meet the full needs of EV owners. Finally, the additional number of EVs was multiplied by

Allstate’s average yearly profit per vehicle.

Formula: Projected Registered EVs by 2030 * Range of Potential Changes to Allstate’s Market Share of the EV Insurance Market * Average Yearly Profit Per Vehicle =

Potential Financial Impact

Please note: The financial impact figures calculate additional revenue from capturing a great share of EV insurance customers. They do not consider any declining revenue

due to reduced gas-powered vehicles over time.

Cost to realize opportunity

500000

Strategy to realize opportunity and explanation of cost calculation

Our strategy is to understand the full range of concerns that consumers face when considering transitioning to EVs and position Allstate to help consumers through as many

of these concerns as Allstate can reasonably address.

Situation: Projected electric vehicle adoption is accelerating with each year. Auto manufacturers are currently planning to transition more of their fleet to attract additional

consumers with choices in model and price, creating many new price entry points with familiar brands.

Task: Consumers will face a full range of concerns when considering transitioning to EVs. Allstate’s breadth of products and services can help consumers through many of

these concerns.

Assessment: Allstate conducted consumer research to build an understanding of these concerns (and how the feelings of early adopters compare to the larger base of

consumers that are now considering EV adoption). These concerns include overall cost to insure, range anxiety, battery degradation anxiety, and uncertainty on how to

equip their residence with battery charging devices.

Result: Starting in 2022, Allstate began the process of developing a portfolio of products and services that address the most relevant anxieties, thereby helping consumers

transition to EV usage.

CDP Page of 7316

Breakdown of figure: The cost to realize the opportunity was based on estimated resource capacity needed to design, develop and deliver the portfolio of products and

services that address the most relevant EV owner concerns. Employee resources are involved from Product/Service Innovation and Development, Property/Liability Product

Management, and Protection Products and Services, dedicating more than 1,000 hours to this work so far. Additionally, resources will be spent on technology changes and

effectively bringing any new solutions to market.

Comment

For more information, see allstatesustainability.com

Identifier

Opp2

Where in the value chain does the opportunity occur?

Investing (Asset owner) portfolio

Opportunity type

Markets

Primary climate-related opportunity driver

Enhanced financial performance of investee companies as a result of being able to access new markets and develop new products to meet green consumer demand

Primary potential financial impact

Returns on investment in low-emission technology

Company-specific description

Investing in areas that both generate returns and provide social and environmental impact is not new to Allstate; the company has been doing so for decades. Allstate is a

founding member of Impact Community Capital, which will celebrate its 25th anniversary in 2023. More recently, Allstate added investments in climate such as TPG Rise

Climate and Little Leaf Farms. As of Dec. 31, 2022, Allstate managed a $61.8 billion investment portfolio, with $7.5 billion in responsible investment categories such as

education, sustainability, affordable housing, health care, green bonds, diverse sponsors, natural capital and renewable investments. Allstate integrates ESG

considerations within its investment analysis and decision-making processes and has established climate change and Inclusive Diversity and Equity as two pillars important

to its investing approach while continuing to meet stockholder needs by having a positive financial impact. Allstate announced a goal in 2021 to expand climate-related

investment capabilities and relationships. Allstate achieved this goal, and by year-end 2022, had committed $469 million in climate-related opportunities. The impact Allstate

hopes to have is to generate attractive risk-adjusted returns while funding the transition to a lower carbon economy by investing in opportunities that fit two areas: climate

mitigation and climate adaptation.

Time horizon

Medium-term

Likelihood

Very likely

Magnitude of impact

Medium

Are you able to provide a potential financial impact figure?

Yes, an estimated range

Potential financial impact figure (currency)

Potential financial impact figure – minimum (currency)

300000000

Potential financial impact figure – maximum (currency)

450000000

Explanation of financial impact figure

Breakdown of figure: Allstate estimates a reasonable return of 4-6% on $7.5B of responsible investments (4% x $7.5B = $300M and 6% x $7.5B = $450M). The return is a

reasonable expectation for a diversified portfolio; however, the size of the portfolio may vary over time.

Cost to realize opportunity

350000

Strategy to realize opportunity and explanation of cost calculation

As responsible investors, Allstate considers ESG an essential component of comprehensive investment risk assessment and has developed teams, policies, training and

goals to guide its investment decisions accordingly. Allstate continues to increase the percentage of its portfolio allocated to responsible investments, actively evaluate how

ESG issues influence investment performance, and pursue strategies that capture additional risk-adjusted return from the transition to a lower-carbon economy.

Situation: Allstate identified that investing in sustainability has the potential to generate attractive risk-adjusted returns given the transition to a lower carbon economy,

regulatory support, consumer preferences, capital need and total addressable market. The company has seen an increase in the number of opportunities for sustainable

investment through its sourcing channels.

Task: Allstate set a goal to commit $375M in climate-related investments over the course of 2021 and 2022.

Action: Allstate created a climate investment strategy and identified direct investments with attractive return characteristics, alongside strong impact attributes. Allstate

focused on partnering with existing managers in its portfolio and identified new strategic partners with the ability to deliver on its dual objective of returns and impact.

Result: Allstate achieved this goal on capital commitment, and by year-end 2022, had committed $469 million in climate-related opportunities and will track the impact that

these dollars have. Allstate identified several strategic partners to invest alongside to achieve the current goal. The company’s climate strategy identifies two key areas:

climate mitigation and climate adaptation. Allstate’s strategy will be dynamic and evolve over time incorporating current risk-return, market, and regulatory characteristics.

Breakdown of figure: While much of the cost and expertise to realize the opportunity exists within Allstate’s current investment team and structure, as the company looks to

expand upon its strategy it may allocate additional resources to supplement its existing team. The current cost to realize opportunity is calculated based on Allstate

Investments’ total annual spend on external providers to provide data and analytics to assist with measuring climate risk in its portfolio and enhancing data on its private

investments.

Comment

For more information, see allstatesustainability.com

CDP Page of 7317

Identifier

Opp3

Where in the value chain does the opportunity occur?

Direct operations

Opportunity type

Energy source

Primary climate-related opportunity driver

Use of lower-emission sources of energy

Primary potential financial impact

Other, please specify (Reputation impact)

Company-specific description

Allstate's business is affected by the worsening impacts of climate change. Like all businesses, Allstate also contributes to climate change. To mitigate this, Allstate focuses

on its operational footprint. The company measures and aims to minimize greenhouse gas (GHG) emissions from the buildings and vehicles it owns or leases, including a

number of initiatives such as reduction of office square footage, fleet modifications to Hybrid vehicles, opportunities for buildings to become more energy efficient (indoor

lighting retrofits, outdoor lighting retrofits and Uninterruptible Power Supply (UPS) replacements, purchasing of Renewable Energy Credits (REC’s) at its Hudson office and

other offices where feasible, the use of Sustainable Aviation Fuel, solar panel installation (Pune, India), K-Cup recycling program and Leadership in Energy and

Environmental Design (LEED) certification of office space(s).

In 2022, Allstate announced its commitment to achieve net zero emissions for direct, indirect and value-chain greenhouse gas emissions by 2030.and the company is

developing a net zero roadmap in 2023. This implementation roadmap will include setting in 2023 yearly intermediate emissions targets toward achieving net zero by 2030.

Time horizon

Medium-term

Likelihood

Likely

Magnitude of impact

Medium

Are you able to provide a potential financial impact figure?

Yes, an estimated range

Potential financial impact figure (currency)

Potential financial impact figure – minimum (currency)

1000000

Potential financial impact figure – maximum (currency)

5000000

Explanation of financial impact figure

Allstate’s goal is to achieve net zero emissions. Allstate is pursuing numerous alternates to achieve this goal.

Cost to realize opportunity

1000000

Strategy to realize opportunity and explanation of cost calculation

In 2022, Allstate reduced its real estate footprint of owned and leased Allstate and National General facilities from over 9 million square feet to under 7 million square feet.

This downsizing of real estate reduces Allstate’s operational energy and water usage, GHG emissions and waste production. Of the office space the company still leases or

owns, more than 694,000 square feet was LEED-certified by 2022. Allstate reduced its energy consumption further by recapturing heat energy as a byproduct of its data

center operations and using energy-efficient equipment and systems. In 2022, lighting updates in some of Allstate’s remaining facilities saved an additional 211,167 KWH of

electricity. In October 2022, the company sold its 232-acre campus in Northbrook, Illinois, which accounted for 2 million square feet of real estate footprint reduction.

Several years ago, the company started to use more hybrid vehicles to improve fuel economy and reduce GHG emissions. Allstate has also reduced the size of its fleet as

it relies more on aerial surveys for claims data. Allstate’s goal is to have 100% hybrid vehicles by 2025 and to incorporate electric vehicles thereafter. At the end of 2022,

Allstate's legacy fleet was 85% hybrid, and the company's total fleet, which includes Avail and National General vehicles, was 52% hybrid.

Allstate installed solar panels with 40kW of capacity in Pune, India, feeding power to the emergency lighting and critical air conditioning units which are all 24x7 loads.

Reduction is estimated at 65,000 KWH/year.

The company’s real estate reductions, reuse and recycling partnerships, and sustainable procurement decisions work together with continued focus on limiting emissions

where possible. Until the electrical grids in Allstate’s operating locations fully decarbonize, however, providing power to its facilities will continue to produce GHG emissions.

To compensate, Allstate purchased renewable energy credits (RECs). In 2021, Allstate purchased RECs to cover 100% of the 44,319 MWh of electricity use from its Illinois

and Texas facilities. This represents 26% of Allstate’s total U.S. electricity use from owned and leased facilities in that year and is equivalent to 20,579 metric tonnes of

CO2e emissions.

Other initiatives include reviewing the feasibility of utilizing Sustainable Aviation Fuel, a K-cup recycling program in various locations, and upgrades for efficiency gains.

Comment

For more information, see allstatesustainability.com

C3. Business Strategy

C3.1

CDP Page of 7318

(C3.1) Does your organization’s strategy include a climate transition plan that aligns with a 1.5°C world?

Row 1

Climate transition plan

No, but our strategy has been influenced by climate-related risks and opportunities, and we are developing a climate transition plan within two years

Publicly available climate transition plan

Mechanism by which feedback is collected from shareholders on your climate transition plan

Description of feedback mechanism

Frequency of feedback collection

Attach any relevant documents which detail your climate transition plan (optional)

Explain why your organization does not have a climate transition plan that aligns with a 1.5°C world and any plans to develop one in the future

Managing climate risk is foundational to Allstate’s financial and operational success. In December 2022, Allstate announced its commitment to achieve net zero emissions

for its direct, indirect and value-chain greenhouse gas emissions by 2030, other than its investment portfolio and underwriting emissions. By the end of 2025, Allstate will

establish a goal for financed emissions. Allstate will continue to evaluate emerging methodologies for emissions associated with underwriting activities that align with

Allstate’s business practices and strategy.

Explain why climate-related risks and opportunities have not influenced your strategy

C3.2

(C3.2) Does your organization use climate-related scenario analysis to inform its strategy?

Use of climate-related scenario

analysis to inform strategy

Primary reason why your organization does not use climate-related

scenario analysis to inform its strategy

Explain why your organization does not use climate-related scenario analysis to

inform its strategy and any plans to use it in the future

Row

Yes, qualitative and quantitative <Not Applicable> <Not Applicable>

C3.2a

CDP Page of 7319

(C3.2a) Provide details of your organization’s use of climate-related scenario analysis.

Climate-related

scenario

Scenario

analysis

coverage

Temperature

alignment of

scenario

Parameters, assumptions, analytical choices

Transition

scenarios

NGFS

scenarios

framework

Portfolio <Not

Applicable>

Allstate is leveraging the NGFS Scenario Framework to inform its Climate scenario analysis efforts. Allstate is initially focused on three of the scenarios: Current

Policy, Net Zero 2050 and Delayed. Allstate is using these scenarios because they will provide a range of outcomes for the company to evaluate, analyze and

incorporate into its holistic strategy. Allstate’s Catastrophe Modeling and Analytics Team (CMAT) and Pricing Groups monitor climate change information as part of

their analysis of weather-related trends. Allstate captures a distribution of potential scenarios using assumptions calibrated to varying climate change scenarios.

Models developed internally and by third-party vendors are used along with Allstate’s own historical data in assessing property insurance exposure to catastrophe

losses. Internal modeling of external climate scenarios is targeted for 2022/23 and will be coordinated by Enterprise Risk and Return Management (ERRM) across the

Allstate organization. Losses and changes in exposure, as well as business continuity, resiliency, and solvency, are projected and analyzed and reported to senior

leaders biannually, with additional monitoring provided as needed. Quantitative scenario analysis, using timeframes up to 30 years, explores the impacts of stress

events which may include elevated weather catastrophes. This is done, at a minimum, annually during the strategic planning process, which is shared with the Board,

and often done more frequently.

The CMAT also partners with Allstate’s Investment group to model mortgage and real estate portfolios under consideration. Allstate classifies its commercial real

estate investments based on their modeled exposure to certain catastrophe risks and incorporates these risks in its underwriting and insurance practices. The

portfolio is geographically diversified with modest exposure to coastal properties and areas of California most prone to wildfires due to deliberate underwriting around

wildfire, flood and hurricane exposure. Case Study: For the past several years, Allstate has steadily increased agricultural and timber holdings in the investment

portfolio, taking both a short- and long-term view when considering the risks inherent in this portfolio, including climate-related risks.

Physical

climate

scenarios

Bespoke

physical

scenario

Company-

wide

Unknown Allstate’s Business Continuity Management team has business continuity plans for most critical processes at Allstate. Those plans address a variety of scenarios,

including loss of facility due to weather-related occurrences. Allstate’s business continuity lifecycle involves identifying the most critical processes, developing

Business Continuity Plans (BCPs) for them, and then performing exercises for each plan. The lifecycle is performed annually. Dependencies such as vendors, key

technology, and other processes are addressed in the plans. The exercise scenarios vary by BCPs and business areas and departments based on their specific

greatest risks. Scenarios may include loss of location, personnel, systems/data, and key third parties. Allstate has conducted exercises in the past related to severe

weather (hurricane, typhoon, etc.). Each exercise includes an after-action review, and any gaps are documented in Allstate’s Archer Issues Management system for

remediation in addition to BCPs being updated based on new learnings.

Physical

climate

scenarios

RCP

4.5

Company-

wide

<Not

Applicable>

Allstate’s Catastrophe Modeling and Analytics Team (CMAT) and Pricing Groups monitor climate change information as part of their analysis of weather-related

trends. We capture a distribution of potential scenarios using assumptions calibrated to varying climate change scenarios. Models developed internally and by third-

party vendors are used along with our own historical data in assessing property insurance exposure to catastrophe losses.

Quantitative scenario analysis, using timeframes up to 30 years, explores the impacts of stress events which may include elevated weather catastrophes.

Physical

climate

scenarios

RCP

7.0

Company-

wide

<Not

Applicable>

Allstate’s Catastrophe Modeling and Analytics Team (CMAT) and Pricing Groups monitor climate change information as part of their analysis of weather-related

trends. We capture a distribution of potential scenarios using assumptions calibrated to varying climate change scenarios. Models developed internally and by third-

party vendors are used along with our own historical data in assessing property insurance exposure to catastrophe losses.

Quantitative scenario analysis, using timeframes up to 30 years, explores the impacts of stress events which may include elevated weather catastrophes.

C3.2b

(C3.2b) Provide details of the focal questions your organization seeks to address by using climate-related scenario analysis, and summarize the results with

respect to these questions.

Row 1

Focal questions

How large are the incremental losses that climate change could potentially drive within Allstate’s property insurance lines of business? How to best reflect the near-current

climate for ratemaking and capital analysis?

Results of the climate-related scenario analysis with respect to the focal questions

How the results have informed decisions and actions:

Allstate’s bespoke scenario and catastrophe models that reflect the current and near-current climate are utilized to develop premiums for hurricane, wildfire, and earthquake

risk in Allstate’s insurance products, where regulatorily allowed. For hurricanes, where regulatorily allowed, premiums reflect a view of loss potential based on warm sea

surface temperatures. These catastrophe models, including the warm sea surface view of hurricane risk, are also used for development of product strategies like in what

markets Allstate actively sells policies and what coverage terms are offered. Allstate has a geographically dispersed book of business within the United States, which is

subject to, for example, the increased prevalence of wildfire occurrence. These catastrophe models are also used for capital analysis. As described earlier, Allstate uses

quantitative scenarios to explore the impacts of stress events which may include elevated weather catastrophes to determine if the company is adequately capitalized. This

analysis explores scenario impacts on metrics including, but not limited to, Return on Economic Capital, Net Income, Investment Total Return, Deployable Capital, and

Debt-to-Capital ratio. Allstate reviews its capital position and key performance metrics to evaluate what management actions it may implement before, during, and after

such events to mitigate financial risk.

Description of the results:

Allstate continues to maintain strong capital and liquidity positions, and assessment of alternative scenarios shows its projected resilience. Allstate’s capital foundation

enables it to withstand extreme and sequential macro and catastrophe-driven shocks. As capital is deployed and environments change, sufficiency will be proactively

monitored.

C3.3

CDP Page of 7320

(C3.3) Describe where and how climate-related risks and opportunities have influenced your strategy.

Have climate-

related risks

and

opportunities

influenced

your strategy

in this area?

Description of influence

Products

and

services

Yes Allstate seeks to understand climate risks that directly affect both its insurance products and its assets. Allstate modifies those products and protects those assets accordingly, to

protect its shareholders, customers and reputation. For example, the company provides the Homeowners Policy Green Improvement Reimbursement Endorsement, which allows a

customer to replace covered, damaged, or destroyed equipment with more energy-efficient items. This endorsement includes a provision under which customers are reimbursed the

additional cost incurred to replace such appliances. In addition, Allstate offers Milewise, a “pay-per-mile” personal auto insurance product which invites drivers to “Drive Less. Save

More,” and may decrease total miles driven and result in lower total emissions. Management of the Commercial Real Estate portfolio reflects potential impacts of climate change to

commercial real estate investments.

Supply

chain

and/or

value

chain

Yes At Allstate, environmental and social leadership in purchasing decisions helps the company demonstrate Our Shared Purpose. Under the Chief Procurement Officer, the Sustainability

Sourcing Lead is dedicated to overseeing Allstate’s sustainable procurement strategy that evaluates, tracks, and mitigates ESG risk exposure, increasing visibility and transparency in

the supply chain. By understanding how suppliers are managing factors such as GHG emissions, waste, regulatory compliance, and cybersecurity, Allstate can better articulate its

expectations. By actively managing these risks, Allstate enhances our reputation and aligns procurement decisions with environmental and social responsibility, which increases the

confidence of stakeholders who depend on Allstate’s performance.

Investment

in R&D

Yes Allstate’s long-term strategy includes investments in technology, data, and analytics to further drive efficiencies in its operations and the products it offers to customers. The

transformation of the personal transportation system – brought about by trends in vehicle connectivity, electrification, shared mobility and autonomous driving technologies – will result in

tremendous efficiencies and benefits, including environmental. Allstate is pursuing several initiatives to support the transformation of the personal transportation system. Two personal

auto insurance products developed by Allstate, Drivewise and Milewise, are changing the landscape of auto insurance and offering customers greater transparency and pricing

sophistication, thanks to significant developments in technology, telematics, and data analytics. Allstate has launched Avail, a peer-to-peer car sharing platform that connects drivers

and car owners, providing a protected car sharing experience conveniently located where people live, work and travel. Allstate is also supporting the adoption of different transportation

modes by providing insurance solutions to ride-hailing providers such as Uber. There have also been investments in data and analytics with the intent of enhanced pricing sophistication.

Most recently, this has included a partnership with ZestyAI for the evaluation of wildfire risk.

Operations Yes Allstate seeks to maintain an understanding of climate risks that directly affect its insurance products, assets and investment portfolio, and to adjust its strategy and risk profile

accordingly to protect shareholders, customers, and our reputation. Specifically, weather and natural catastrophe loss volatility and other climate impacts are factored into the Enterprise

Risk and Return Council (ERRC)‘s approved risk limits and growth strategies, which are reviewed with the Board. Allstate’s business objectives and strategy are then informed by

identified risks, as applicable. Allstate has also built out its operational risk and return framework to ensure preparedness for operational responses and losses related to climate change

impacts. Additionally, Allstate is conscious of the environmental footprint of its operations and continuously strives to decrease its impact. Efforts include reducing companywide paper

use and helping customers do the same, as well as promoting recycling and energy reduction efforts at Allstate facilities.

C3.4

(C3.4) Describe where and how climate-related risks and opportunities have influenced your financial planning.

Financial

planning

elements

that have

been

influenced

Description of influence

Row

Revenues

Direct costs

Indirect costs

Capital

expenditures

Capital

allocation

Acquisitions

and

divestments

Access to

capital

Assets

Liabilities

Provisions or

general

reserves

Claims

reserves

Climate-related risks and opportunities factor into Allstate’s financial planning process for the elements listed.

Revenues: The insurance industry is exposed to climate-related risks, such as catastrophes and severe weather events, which may subject Allstate’s P&C business to significant losses. These

risks could impact Allstate’s revenues in a variety of ways. For example, homeowners premium growth rates and retention could be adversely impacted by adjustments to Allstate’s business

structure, size and underwriting practices in markets with significant severe weather and catastrophe risk exposure. Allstate expects the overall magnitude of this impact to be medium. The time

horizon for climate-related revenue risks is long-term (7-30 years, as defined in 2.1a of this CDP report).

Liabilities: Increases in frequency or severity of natural catastrophes have a direct impact on Allstate’s insurance liabilities. For example, there may be increased frequency or intensity of

storms, tornadoes, and hurricanes, as well as wildfires and flooding in various geographic areas. Additionally, there may be impacts on the demand, price and availability of automobile and

homeowners insurance, reinsurance coverages, as well as the value of Allstate’s investment portfolio. Due to significant variability associated with future changing climate conditions, the

company is unable to predict the impact climate change will have on its business. The time horizon for climate-related liability risks is long-term (7-30 years, as defined in 2.1a of this CDP

report).

Case Study: Impacts of rising sea levels, increased flooding, and hurricane exposure on Florida real estate, and potential impacts factored into planning

A. Expected impacts of increasing temperatures by 2050:

1) Hurricanes – Lower frequency but increasing severity. Average loss is similar with increased volatility.

2) Flooding – increased precipitation and sea levels, more storm surges with hurricane events, more localized ’100-year’ floods.

B. Evaluation of potential risks within the social/economic system:

1) Allstate has direct exposure to hurricanes through our products.

2) Some risk is mitigated by passing it to reinsurers. The Florida Hurricane Cat Fund (FHCF) and other state-specific wind pools expose us to some credit risk and assessment exposures.

3) Flood exposure is covered by the National Flood Insurance Program (NFIP), for which we administer claims.

4) Poor customer experience with NFIP can expose us to reputational risk.

5) Increasing costs of direct damage coverage suppress existing property values.

6) May lead to secondary exposure in certain assets, such as State/Municipal debt.

The time horizon for these climate-related revenue risks is long-term (7-30 years, as defined in 2.1a of this CDP report).

C3.5

(C3.5) In your organization’s financial accounting, do you identify spending/revenue that is aligned with your organization’s climate transition?

Identification of spending/revenue that is aligned with your organization’s climate

transition

Indicate the level at which you identify the alignment of your spending/revenue with a sustainable finance

taxonomy

Row

No, but we plan to in the next two years <Not Applicable>

CDP Page of 7321

C-FS3.6

(C-FS3.6) Does the policy framework for your portfolio activities include climate-related requirements for clients/investees, and/or exclusion policies?

Policy framework for portfolio activities that include climate-related requirements for

clients/investees, and/or exclusion policies

Explain why the policy framework for your portfolio activities do not include climate-related

requirements for clients/investees, and/or exclusion policies

Row

Yes, our framework includes both policies with climate-related client/investee requirements

and climate-related exclusion policies

C-FS3.6a

(C-FS3.6a) Provide details of the policies which include climate-related requirements that clients/investees need to meet.

Portfolio

Insurance underwriting (Insurance company)

Type of policy

Risk policy

Insurance underwriting policy

Portfolio coverage of policy

100

Policy availability

Not publicly available

Attach documents relevant to your policy

https://www.allstateinvestors.com/static-files/e16e5a33-abc6-4544-b486-df19cbaf3db4

Allstate Reinsurance Update - Fourth Quarter 2022.pdf

Criteria required of clients/investees

Other, please specify (Proof of mitigation in wildfire areas)

Value chain stages of client/investee covered by criteria

Direct operations only

Timeframe for compliance with policy criteria

No timeframe

Industry sectors covered by the policy

Commercial & Professional Services

Exceptions to policy based on

Explain how criteria required, criteria coverage and/or exceptions have been determined

Allstate works to understand climate risks that affect its insurance products and assets. Allstate’s Catastrophe Modeling and Analytics Team and pricing groups monitor

climate change information and update leadership regularly. Allstate manages climate-related risks and opportunities within its Enterprise Risk and Return Management

(ERRM) framework, which applies risk-return principles, governance, modeling and analytics, while maintaining Allstate’s strong foundation of financial strength, building

strategic value, and optimizing return per unit of risk. Climate-related risks are identified, measured, managed, monitored and reported while focusing on insurability,

underwriting and investments. Allstate has been able to adapt to increased catastrophe risk through actions that include:

1) Purchasing multi-year reinsurance protection as well as aggregate coverage, giving Allstate protection in years with extreme losses across multiple risk types;

2) Limiting new business for our personal lines auto and property insurance in areas most exposed to hurricanes, including coastal areas in Southern and Eastern states;

3) Implementing Tropical Cyclone and/or Wind/Hail deductibles or exclusions where appropriate.

Please see our 10K and Reinsurance Update (attached) for more details.

C-FS3.6b

CDP Page of 7322

(C-FS3.6b) Provide details of your exclusion policies related to industries and/or activities exposed or contributing to climate-related risks.

Portfolio

Investing (Asset owner)

Type of exclusion policy

Coal mining

Year of exclusion implementation

2015

Timeframe for complete phase-out

Already phased out

Application

New business/investment for new projects

Country/Area/Region the exclusion policy applies to

Other, please specify (The described exclusion (majority coal) does not remove any countries from the exclusion policy – all countries are subject to it.) All countries are

subject to the policy)

Description

Allstate Investments maintains investment guidelines that define prohibited types of investments, which are typically entities whose activities are fundamentally inconsistent

with Allstate’s values or are likely to result in reputational or other significant risks. These prohibitions include investments in companies that predominantly conduct

business in the civilian firearms industry, or majority ownership interest or control of a company that operates a coal or other mine (either directly or through a subsidiary) or

provides services to those mines.

C-FS3.7

(C-FS3.7) Does your organization include climate-related requirements in your selection process and engagement with external asset managers?

Climate-related requirements included in selection

process and engagement with external asset

managers

Primary reason for not including climate-related requirements

in selection process and engagement with external asset

managers

Explain why climate-related requirements are not included in selection

process and engagement with external asset managers and your plans for

the future

Row

Yes <Not Applicable> <Not Applicable>

C-FS3.7a

(C-FS3.7a) Provide details of the climate-related requirements included in your selection process and engagement with external asset managers.

Coverage

Minority of assets managed externally

Mechanisms used to include climate-related requirements in external asset manager selection

Include climate-related requirements in investment mandates

Preference for investment managers with an offering of funds resilient to climate change

Review investment manager’s climate-related policies

Use of external data on investment managers regarding climate risk management

Describe how you monitor and engage with asset managers to ensure investment activities are consistent with your climate strategy

Allstate has created a dedicated impact portfolio to invest alongside two key pillars: inclusive diversity and equity and climate change. For those investments in the climate

change area, Allstate is working with external managers to understand emissions of portfolio companies, beginning with Scope 1 & 2 emissions, to establish an appropriate

baseline, after which the company can determine how to monitor and measure changes over time. Understanding their existing measurement process is a focus of due

diligence. Allstate will also evaluate other relevant key performance indicators (KPIs) that will help it measure the impact its investments will have. In Allstate’s broader

portfolio, Allstate asks external managers, especially in higher emitting sectors, about climate and consider their response as part of investment diligence. However, there is

no specific requirement at this time.

C4. Targets and performance

C4.1

(C4.1) Did you have an emissions target that was active in the reporting year?

No target

C4.1c

CDP Page of 7323

(C4.1c) Explain why you did not have an emissions target, and forecast how your emissions will change over the next five years.

Primary

reason

Five-year forecast Please explain

Row

We are

planning

introduce

a target

in the

next two

years

Allstate plans to increase data quality and comprehensiveness to re-establish a more

accurate and representative baseline while simultaneously setting absolute and/or intensity

emissions-reduction targets that will allow the company to meet its 2030 Net Zero Goal that

was established at the end of 2022. Actual scope 1 and 2 emissions are projected to

decline by an estimated 10-15% of base year emissions per year as Allstate accelerates its

emission reduction programs. Actual scope 3 emissions are expected to decline at a slightly

slower rate (6-10%) due to return to post-pandemic working conditions and the service-

based nature of Allstate's business model.

Allstate did not have an emissions target in 2022 as we focused on developing a foundational climate

policy aligned with a new Net Zero goal that will have intermediate emissions targets in the future.

Allstate announced a Net Zero by 2030 goal at the end of 2022 and has already begun developing a

Net Zero roadmap in 2023, that will set near-term targets and help Allstate prioritize emissions

reduction initiatives. This implementation roadmap will include setting annual intermediate emissions

targets toward achieving Net Zero by 2030. Allstate will begin reporting these yearly emissions targets

in next year's CDP response. Refer to Allstate’s Net Zero announcement for additional context about

its decarbonization plans and ambition.

C4.2

(C4.2) Did you have any other climate-related targets that were active in the reporting year?

Net-zero target(s)

C4.2c

(C4.2c) Provide details of your net-zero target(s).

Target reference number

NZ1

Target coverage

Company-wide

Absolute/intensity emission target(s) linked to this net-zero target

Not applicable

Target year for achieving net zero

2030

Is this a science-based target?

Yes, we consider this a science-based target, but we have not committed to seek validation of this target by the Science Based Targets initiative within the next two years

Please explain target coverage and identify any exclusions

Reduce direct, indirect and value-chain greenhouse gas emissions by reducing office square footage, purchasing renewable energy where possible, working to reduce

emissions of suppliers and removing the impact of remaining real estate through the limited purchase of credible carbon offsets where available.

Do you intend to neutralize any unabated emissions with permanent carbon removals at the target year?

Yes

Planned milestones and/or near-term investments for neutralization at target year

Allstate is already closing offices and pursuing green building improvements where available. Allstate’s responsible investing strategy already includes a dedicated impact

portfolio that supports climate change mitigation and adaptation, targeting at least $375 million in climate-related commitments between 2021 and 2022.

Planned actions to mitigate emissions beyond your value chain (optional)

Yes, Allstate has begun investigating additional actions and initiatives it can take to further reduce negative impacts, such as impacts and influences on biodiversity, data

quality improvements and processes.

C4.3

(C4.3) Did you have emissions reduction initiatives that were active within the reporting year? Note that this can include those in the planning and/or

implementation phases.

Yes

C4.3a

(C4.3a) Identify the total number of initiatives at each stage of development, and for those in the implementation stages, the estimated CO2e savings.

Number of initiatives Total estimated annual CO2e savings in metric tonnes CO2e (only for rows marked *)

Under investigation 2 170

To be implemented* 3 7464

Implementation commenced* 0 0

Implemented* 4 159

Not to be implemented 0 0

C4.3b

CDP Page of 7324

(C4.3b) Provide details on the initiatives implemented in the reporting year in the table below.

Initiative category & Initiative type

Energy efficiency in buildings Lighting

Estimated annual CO2e savings (metric tonnes CO2e)

Scope(s) or Scope 3 category(ies) where emissions savings occur

Scope 2 (location-based)

Scope 2 (market-based)

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

10000

Investment required (unit currency – as specified in C0.4)

700000

Payback period

No payback

Estimated lifetime of the initiative

6-10 years

Comment

Hudson Site Lighting – Retrofitted HID lighting with LED lighting.

Initiative category & Initiative type

Energy efficiency in buildings Lighting

Estimated annual CO2e savings (metric tonnes CO2e)

Scope(s) or Scope 3 category(ies) where emissions savings occur

Scope 2 (location-based)

Scope 2 (market-based)

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

69000

Investment required (unit currency – as specified in C0.4)

400000

Payback period

4-10 years

Estimated lifetime of the initiative

6-10 years

Comment

West Plaza Lighting – Replaced fluorescent lighting with LED lighting.

Initiative category & Initiative type

Energy efficiency in buildings Lighting

Estimated annual CO2e savings (metric tonnes CO2e)

Scope(s) or Scope 3 category(ies) where emissions savings occur

Scope 2 (location-based)

Scope 2 (market-based)

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

500

Investment required (unit currency – as specified in C0.4)

12000

Payback period

21-25 years

Estimated lifetime of the initiative

6-10 years

CDP Page of 7325

Comment

Garden City Legal Office - Retrofitted existing fluorescent lighting with LED lighting

Initiative category & Initiative type

Low-carbon energy generation Solar PV

Estimated annual CO2e savings (metric tonnes CO2e)

Scope(s) or Scope 3 category(ies) where emissions savings occur

Scope 2 (location-based)

Scope 2 (market-based)

Voluntary/Mandatory

Voluntary

Annual monetary savings (unit currency – as specified in C0.4)

20000

Investment required (unit currency – as specified in C0.4)

250000

Payback period

11-15 years

Estimated lifetime of the initiative

11-15 years

Comment

Installed solar panels at Pune, India office. Feeds power to the emergency lighting and critical air conditioning units which are all 24x7 loads.

C4.3c

(C4.3c) What methods do you use to drive investment in emissions reduction activities?

Method Comment

Dedicated

budget for

other

emissions

reduction

activities

Allstate's priority in terms of GHG emissions is to prevent them from happening. Allstate’s real estate reductions, reuse and recycling partnerships, and sustainable procurement decisions work

together with continued focus on limiting its emissions where possible. Until the electrical grids in Allstate operating locations fully decarbonize, however, providing power to its facilities will continue to

produce GHG emissions. To compensate, the company purchases renewable energy credits (RECs). In 2021, Allstate purchased RECs to cover 100% of the 44,319 MWh of electricity use from its

Illinois and Texas facilities. This represents 26% of Allstate’s total U.S. electricity use from owned and leased facilities in that year and is equivalent to 20,579 metric tonnes of CO2e emissions. In

2023 Allstate is expanding this to cover 100% of electricity in its Hudson, OH facilities.

Other

(Customer

engagement)

Allstate encourages electronic customer communications to help cut costs and reduce the company’s footprint and theirs. Allstate has invested $12.5 million in improving customers’ digital, paperless

experience since 2015. The company’s eDelivery and Document Management teams offer three paperless initiatives: eSignature, ePolicy and eBill. Customers are prompted to use Allstate’s online

self-service hub to sign up for these free services, and these programs were highly utilized in 2022.

C-FS4.5

(C-FS4.5) Do any of your existing products and services enable clients to mitigate and/or adapt to the effects of climate change?

Yes

C-FS4.5a

(C-FS4.5a) Provide details of your existing products and services that enable clients to mitigate and/or adapt to climate change, including any taxonomy used to

classify the products(s).

Product type/Asset class/Line of business

Insurance Property & Casualty

Taxonomy or methodology used to classify product

Internally classified

Description of product

Allstate offers policyholders the Homeowners Policy Green Improvement Reimbursement Endorsement. If purchased, it allows a customer to replace damaged or

destroyed appliances and equipment with more energy-efficient items and be reimbursed by Allstate for the additional cost. The reimbursement applies to certain categories

of Energy Star®-rated products such as: washers and refrigerators, computers and other electronics, heating and cooling equipment, and certain plumbing and building

equipment. These products are designed to save electricity or water, reducing a home’s environmental impact while lowering homeowners’ utility bills. The Homeowners

Policy Green Improvement Reimbursement Endorsement is available in most states.

Product enables clients to mitigate and/or adapt to climate change

Mitigation

CDP Page of 7326

Portfolio value (unit currency – as specified in C0.4)

% of total portfolio value

Type of activity financed/insured or provided

Green buildings and equipment

Product type/Asset class/Line of business

Insurance Property & Casualty

Taxonomy or methodology used to classify product

Internally classified

Description of product

National General, an Allstate company, offers Green Upgrade options such as the Restore with Sustainable Materials benefit. Restore with Sustainable Materials allows

customers to get up to $50,000 coverage to rebuild with environmentally-friendly material. This benefit incentivizes customers to choose sustainable materials that may help

them adapt to, and mitigate, climate change while also supporting the transition to a low carbon economy.

Product enables clients to mitigate and/or adapt to climate change

Mitigation

Adaptation

Portfolio value (unit currency – as specified in C0.4)

% of total portfolio value

Type of activity financed/insured or provided

Green buildings and equipment

Renewable energy

Fortified buildings

Product type/Asset class/Line of business

Insurance Motor

Taxonomy or methodology used to classify product

Internally classified

Description of product

Pay-per-mile coverage is auto insurance based primarily on the miles a customer drives. Consumers want personalized products and services that give them more control

over cost and usage, and Allstate is staying on top of this trend. Milewise incentivizes customers to drive less (and subsequently emit less CO2) by providing real-time

savings to those customers. The less you drive, the less you pay because customers of this product pay only for the miles they drive. Milewise, Allstate’s pay-per-mile auto

insurance, is available in 22 states and gives customers the same great coverage and claim service from Allstate. The number of vehicles that are written under our

Milewise product increased by about 30% in 2022. Allstate ended 2022 with around 350,000 vehicles enrolled in the Milewise product.

Please note: the portfolio percentage is based on the number of vehicles with the Milewise Product and the total standard auto Allstate vehicles countrywide.

Product enables clients to mitigate and/or adapt to climate change

Mitigation

Portfolio value (unit currency – as specified in C0.4)

% of total portfolio value

Type of activity financed/insured or provided

Low-emission transport

Product type/Asset class/Line of business

Insurance Motor

Taxonomy or methodology used to classify product

Internally classified

Description of product

Using telematics, the science of collecting data through sensors in a vehicle, Allstate has redefined insurance. Allstate’s Drivewise product personalizes the auto experience

and provides customers insights into their behavior to promote and reward safe driving. Drivewise is available in 50 states and the District of Columbia. Allstate was the first

major U.S. insurer to bring to market a mobile app to collect data for a telematics-based insurance program. As of Dec. 31, 2022, Allstate had over 1.79 million Drivewise

connections. Drivewise incentivizes customers to drive more safely (and subsequently more slowly, emitting less CO2) by providing real-time savings to those customers.

The more safely you drive, the less you pay, and the lower the carbon impacts due to greater mileage efficiency.

Product enables clients to mitigate and/or adapt to climate change

Mitigation

Portfolio value (unit currency – as specified in C0.4)

% of total portfolio value

Type of activity financed/insured or provided

Low-emission transport

CDP Page of 7327

C5. Emissions methodology

C5.1

(C5.1) Is this your first year of reporting emissions data to CDP?

C5.1a

(C5.1a) Has your organization undergone any structural changes in the reporting year, or are any previous structural changes being accounted for in this

disclosure of emissions data?

Row 1

Has there been a structural change?

Yes, an acquisition

Name of organization(s) acquired, divested from, or merged with

National General, Safe Auto

Details of structural change(s), including completion dates

Allstate completed the acquisition of National General on January 4, 2021. On October 1, 2021, Allstate completed the acquisition of Safe Auto Insurance Group, Inc., a

non-standard auto insurance carrier that has since been integrated into National General.

C5.1b

(C5.1b) Has your emissions accounting methodology, boundary, and/or reporting year definition changed in the reporting year?

Change(s) in methodology, boundary, and/or reporting year

definition?

Details of methodology, boundary, and/or reporting year definition change(s)

Row

Yes, a change in methodology New data availability from the reporting year prompted the development of improved methodologies for the calculation of this year's

emissions.

C5.1c

(C5.1c) Have your organization’s base year emissions and past years’ emissions been recalculated as a result of any changes or errors reported in C5.1a and/or

C5.1b?

Base year

recalculation

Scope(s)

recalculated

Base year emissions recalculation policy, including significance threshold Past years’

recalculation

Row

No, because the

impact does not meet

our significance

threshold

<Not

Applicable>

Allstate has changed its base year to 2022 this reporting cycle because new data availability and improved methodologies make this the most accurate

and relevant inventory from which to set targets in the future. The base year inventory will be adjusted in response to any structural or methodology

changes, if the resulting adjustment is more than 1% of base year values. Adjustments less than this threshold are considered insignificant and will be

decided case by case.

C5.2

(C5.2) Provide your base year and base year emissions.

Scope 1

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

38610

Comment

For more information, see allstatesustainability.com

CDP Page of 7328

Scope 2 (location-based)

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

70674

Comment

For more information, see allstatesustainability.com

Scope 2 (market-based)

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

54911

Comment

For more information, see allstatesustainability.com

Scope 3 category 1: Purchased goods and services

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

444869

Comment

For more information, see allstatesustainability.com

Scope 3 category 2: Capital goods

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

24780

Comment

For more information, see allstatesustainability.com

Scope 3 category 3: Fuel-and-energy-related activities (not included in Scope 1 or 2)

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

30465

Comment

For more information, see allstatesustainability.com

Scope 3 category 4: Upstream transportation and distribution

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

13869

Comment

For more information, see allstatesustainability.com

CDP Page of 7329

Scope 3 category 5: Waste generated in operations

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

1625

Comment

For more information, see allstatesustainability.com

Scope 3 category 6: Business travel

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

9119

Comment

For more information, see allstatesustainability.com

Scope 3 category 7: Employee commuting

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

13198

Comment

For more information, see allstatesustainability.com

Scope 3 category 8: Upstream leased assets

Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment

Scope 3 category 9: Downstream transportation and distribution

Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment

Scope 3 category 10: Processing of sold products

Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment

Scope 3 category 11: Use of sold products

Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment

Scope 3 category 12: End of life treatment of sold products

Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment

CDP Page of 7330

Scope 3 category 13: Downstream leased assets

Base year start

January 1 2022

Base year end

December 31 2022

Base year emissions (metric tons CO2e)

4544

Comment

For more information, see allstatesustainability.com

Scope 3 category 14: Franchises

Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment

Scope 3: Other (upstream)

Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment

Scope 3: Other (downstream)

Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment

C5.3

(C5.3) Select the name of the standard, protocol, or methodology you have used to collect activity data and calculate emissions.

ISO 14064-1

The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition)

The Greenhouse Gas Protocol: Scope 2 Guidance

The Greenhouse Gas Protocol: Corporate Value Chain (Scope 3) Standard

C6. Emissions data

C6.1

CDP Page of 7331

(C6.1) What were your organization’s gross global Scope 1 emissions in metric tons CO2e?

Reporting year

Gross global Scope 1 emissions (metric tons CO2e)

38610

Start date

January 1 2022

End date

December 31 2022

Comment

For more information, see allstatesustainability.com

Past year 1

Gross global Scope 1 emissions (metric tons CO2e)

20932

Start date

January 1 2021

End date

December 31 2021

Comment

For more information, see allstatesustainability.com

Past year 2

Gross global Scope 1 emissions (metric tons CO2e)

20849

Start date

January 1 2020

End date

December 31 2020

Comment

For more information, see allstatesustainability.com

Past year 3

Gross global Scope 1 emissions (metric tons CO2e)

39230

Start date

January 1 2019

End date

December 31 2019

Comment

For more information, see allstatesustainability.com

Past year 4

Gross global Scope 1 emissions (metric tons CO2e)

45966

Start date

January 1 2018

End date

December 31 2018

Comment

For more information, see allstatesustainability.com

Past year 5

Gross global Scope 1 emissions (metric tons CO2e)

53818

Start date

January 1 2017

End date

December 31 2017

Comment

For more information, see allstatesustainability.com

C6.2

CDP Page of 7332

(C6.2) Describe your organization’s approach to reporting Scope 2 emissions.

Row 1

Scope 2, location-based

We are reporting a Scope 2, location-based figure

Scope 2, market-based

We are reporting a Scope 2, market-based figure

Comment

For more information, see allstatesustainability.com

C6.3

(C6.3) What were your organization’s gross global Scope 2 emissions in metric tons CO2e?

Reporting year

Scope 2, location-based

70674

Scope 2, market-based (if applicable)

54911

Start date

January 1 2022

End date

December 31 2022

Comment

For more information, see allstatesustainability.com

Past year 1

Scope 2, location-based

69332

Scope 2, market-based (if applicable)

54543

Start date

January 1 2021

End date

December 31 2021

Comment

For more information, see allstatesustainability.com

Past year 2

Scope 2, location-based

77818

Scope 2, market-based (if applicable)

59274

Start date

January 1 2020

End date

December 31 2020

Comment

For more information, see allstatesustainability.com

Past year 3

Scope 2, location-based

86863

Scope 2, market-based (if applicable)

74230

Start date

January 1 2019

End date

December 31 2019

Comment

For more information, see allstatesustainability.com

CDP Page of 7333

Past year 4

Scope 2, location-based

82887

Scope 2, market-based (if applicable)

76636

Start date

January 1 2018

End date

December 31 2018

Comment

For more information, see allstatesustainability.com

Past year 5

Scope 2, location-based

91209

Scope 2, market-based (if applicable)

96214

Start date

January 1 2017

End date

December 31 2017

Comment

For more information, see allstatesustainability.com

C6.4

(C6.4) Are there any sources (e.g. facilities, specific GHGs, activities, geographies, etc.) of Scope 1, Scope 2 or Scope 3 emissions that are within your selected

reporting boundary which are not included in your disclosure?

Yes

C6.4a

CDP Page of 7334

(C6.4a) Provide details of the sources of Scope 1, Scope 2, or Scope 3 emissions that are within your selected reporting boundary which are not included in your

disclosure.

Source of excluded emissions

SquareTrade Europe

Scope(s) or Scope 3 category(ies)

Scope 1

Scope 2 (location-based)

Scope 2 (market-based)

Scope 3: Purchased goods and services

Scope 3: Capital goods

Scope 3: Fuel and energy-related activities (not included in Scopes 1 or 2)

Scope 3: Upstream transportation and distribution

Scope 3: Waste generated in operations

Scope 3: Business travel

Scope 3: Employee commuting

Scope 3: Downstream leased assets

Relevance of Scope 1 emissions from this source

Emissions excluded due to a recent acquisition or merger

Relevance of location-based Scope 2 emissions from this source

Emissions excluded due to a recent acquisition or merger

Relevance of market-based Scope 2 emissions from this source

Emissions excluded due to a recent acquisition or merger

Relevance of Scope 3 emissions from this source

Emissions excluded due to a recent acquisition or merger

Date of completion of acquisition or merger

January 4 2017

Estimated percentage of total Scope 1+2 emissions this excluded source represents

Estimated percentage of total Scope 3 emissions this excluded source represents

Explain why this source is excluded

The SquareTrade branch based in the United Kingdom is not fully integrated into Allstate Corporation. SquareTrade is beginning their sustainability journey this year (2023)

and plans to integrate with Allstate Corporation in future reporting years.

Explain how you estimated the percentage of emissions this excluded source represents

Source of excluded emissions

Scope 3 Category 8

Scope(s) or Scope 3 category(ies)

Scope 3: Upstream leased assets

Relevance of Scope 1 emissions from this source

Relevance of location-based Scope 2 emissions from this source

Relevance of market-based Scope 2 emissions from this source

Relevance of Scope 3 emissions from this source

Emissions are relevant but not yet calculated

Date of completion of acquisition or merger

Estimated percentage of total Scope 1+2 emissions this excluded source represents

Estimated percentage of total Scope 3 emissions this excluded source represents

Explain why this source is excluded

This category is excluded due to lack of data available.

Explain how you estimated the percentage of emissions this excluded source represents

Due to the nature of Allstate Corporation operations, upstream leased assets are anticipated to be minimal and most likely currently included in scope 1 and 2.

C6.5

(C6.5) Account for your organization’s gross global Scope 3 emissions, disclosing and explaining any exclusions.

CDP Page of 7335

Purchased goods and services

Evaluation status

Relevant, calculated

Emissions in reporting year (metric tons CO2e)

444869

Emissions calculation methodology

Spend-based method

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Emissions from purchased goods and services are estimated using EEIO commodity category emission factors in spend-based calculations.

Capital goods

Evaluation status

Relevant, calculated

Emissions in reporting year (metric tons CO2e)

24780

Emissions calculation methodology

Spend-based method

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Emissions from capital goods are estimated using EEIO commodity category emission factors in spend-based calculations.

Fuel-and-energy-related activities (not included in Scope 1 or 2)

Evaluation status

Relevant, calculated

Emissions in reporting year (metric tons CO2e)

30465

Emissions calculation methodology

Average product method

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Emissions were calculated for upstream fuel-and-energy-related activities not included in Scope 1 or 2, using US EPA emission factors for upstream well-to-tank and

transmission and distribution losses.

Upstream transportation and distribution

Evaluation status

Relevant, calculated

Emissions in reporting year (metric tons CO2e)

13869

Emissions calculation methodology

Spend-based method

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Emissions were calculated for upstream fuel-and-energy-related activities not included in Scope 1 or 2, using US EPA emission factors for upstream well-to-tank and

transmission and distribution losses.

Waste generated in operations

Evaluation status

Relevant, calculated

Emissions in reporting year (metric tons CO2e)

1625

Emissions calculation methodology

Average data method

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Emissions from waste are estimated based on days employees are in office. Office days are estimated as part of category 7 and used to estimate office waste

consumption.

CDP Page of 7336

Business travel

Evaluation status

Relevant, calculated

Emissions in reporting year (metric tons CO2e)

9119

Emissions calculation methodology

Distance-based method

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Commercial air travel fuel and mileage, hotel stays, and rental car fuel and mileage are provided by respective suppliers and used to calculate emissions where emissions

are not provided by the supplier. Expensed travel in personal vehicles is provided from an internal database and added to business travel calculations.

Employee commuting

Evaluation status

Relevant, calculated

Emissions in reporting year (metric tons CO2e)

13198

Emissions calculation methodology

Hybrid method

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Emissions from commuting are estimated based on total employees recorded in different countries and regions, assumed commute rates, average % commutes by mode,

number of trips, estimated commute distance and total commute days per year. Work from home emissions are also included and estimated based on average energy

consumption per household member per year.

Upstream leased assets

Evaluation status

Relevant, not yet calculated

Emissions in reporting year (metric tons CO2e)

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Presently, all known leased assets are included as part of reported scope 1 and 2 emissions. Allstate will re-evaluate this category next year.

Downstream transportation and distribution

Evaluation status

Not relevant, explanation provided

Emissions in reporting year (metric tons CO2e)

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

This category is not relevant to Allstate since the company does not sell, and therefore does not transport or distribute, any physical products.

Processing of sold products

Evaluation status

Not relevant, explanation provided

Emissions in reporting year (metric tons CO2e)

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

This category is not relevant to Allstate since the company does not sell any physical products.

CDP Page of 7337

Use of sold products

Evaluation status

Not relevant, explanation provided

Emissions in reporting year (metric tons CO2e)

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

This category is not relevant to Allstate since the company does not sell any physical products.

End of life treatment of sold products

Evaluation status

Not relevant, explanation provided

Emissions in reporting year (metric tons CO2e)

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

This category is not relevant to Allstate since the company does not sell any physical products.

Downstream leased assets

Evaluation status

Relevant, calculated

Emissions in reporting year (metric tons CO2e)

4544

Emissions calculation methodology

Site-specific method

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

This category includes emissions from the operation of assets that are owned by the reporting company (acting as lessor) and (sub)leased to other entities in the reporting

year that are not already included in scope 1 or scope 2.

Franchises

Evaluation status

Not relevant, explanation provided

Emissions in reporting year (metric tons CO2e)

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

Allstate does not operate any franchises.

Other (upstream)

Evaluation status

Please select

Emissions in reporting year (metric tons CO2e)

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

CDP Page of 7338

Other (downstream)

Evaluation status

Emissions in reporting year (metric tons CO2e)

Emissions calculation methodology

Percentage of emissions calculated using data obtained from suppliers or value chain partners

Please explain

C6.5a

(C6.5a) Disclose or restate your Scope 3 emissions data for previous years.

Past year 1

Start date

January 1 2021

End date

December 31 2021

Scope 3: Purchased goods and services (metric tons CO2e)

405075

Scope 3: Capital goods (metric tons CO2e)

10103

Scope 3: Fuel and energy-related activities (not included in Scopes 1 or 2) (metric tons CO2e)

16573

Scope 3: Upstream transportation and distribution (metric tons CO2e)

29947

Scope 3: Waste generated in operations (metric tons CO2e)

Scope 3: Business travel (metric tons CO2e)

6990

Scope 3: Employee commuting (metric tons CO2e)

54566

Scope 3: Upstream leased assets (metric tons CO2e)

Scope 3: Downstream transportation and distribution (metric tons CO2e)

Scope 3: Processing of sold products (metric tons CO2e)

Scope 3: Use of sold products (metric tons CO2e)

Scope 3: End of life treatment of sold products (metric tons CO2e)

Scope 3: Downstream leased assets (metric tons CO2e)

Scope 3: Franchises (metric tons CO2e)

Scope 3: Investments (metric tons CO2e)

Scope 3: Other (upstream) (metric tons CO2e)

Scope 3: Other (downstream) (metric tons CO2e)

Comment

See Allstate's 2022 CDP Response question 6.5

CDP Page of 7339

Past year 2

Start date

January 1 2020

End date

December 31 2020

Scope 3: Purchased goods and services (metric tons CO2e)

348769

Scope 3: Capital goods (metric tons CO2e)

21736

Scope 3: Fuel and energy-related activities (not included in Scopes 1 or 2) (metric tons CO2e)

21058

Scope 3: Upstream transportation and distribution (metric tons CO2e)

12351

Scope 3: Waste generated in operations (metric tons CO2e)

3.77

Scope 3: Business travel (metric tons CO2e)

7823

Scope 3: Employee commuting (metric tons CO2e)

82932

Scope 3: Upstream leased assets (metric tons CO2e)

Scope 3: Downstream transportation and distribution (metric tons CO2e)

Scope 3: Processing of sold products (metric tons CO2e)

Scope 3: Use of sold products (metric tons CO2e)

Scope 3: End of life treatment of sold products (metric tons CO2e)

Scope 3: Downstream leased assets (metric tons CO2e)

Scope 3: Franchises (metric tons CO2e)

Scope 3: Investments (metric tons CO2e)

Scope 3: Other (upstream) (metric tons CO2e)

Scope 3: Other (downstream) (metric tons CO2e)

Comment

See Allstate's 2021 CDP Response question 6.5

CDP Page of 7340

Past year 3

Start date

January 1 2019

End date

December 31 2019

Scope 3: Purchased goods and services (metric tons CO2e)

10528

Scope 3: Capital goods (metric tons CO2e)

Scope 3: Fuel and energy-related activities (not included in Scopes 1 or 2) (metric tons CO2e)

4343

Scope 3: Upstream transportation and distribution (metric tons CO2e)

Scope 3: Waste generated in operations (metric tons CO2e)

446

Scope 3: Business travel (metric tons CO2e)

8857

Scope 3: Employee commuting (metric tons CO2e)

17860

Scope 3: Upstream leased assets (metric tons CO2e)

Scope 3: Downstream transportation and distribution (metric tons CO2e)

Scope 3: Processing of sold products (metric tons CO2e)

Scope 3: Use of sold products (metric tons CO2e)

Scope 3: End of life treatment of sold products (metric tons CO2e)

Scope 3: Downstream leased assets (metric tons CO2e)

Scope 3: Franchises (metric tons CO2e)

Scope 3: Investments (metric tons CO2e)

Scope 3: Other (upstream) (metric tons CO2e)

Scope 3: Other (downstream) (metric tons CO2e)

Comment

See Allstate's 2020 CDP Response question 6.5

CDP Page of 7341

Past year 4

Start date

January 1 2018

End date

December 31 2018

Scope 3: Purchased goods and services (metric tons CO2e)

10675

Scope 3: Capital goods (metric tons CO2e)

Scope 3: Fuel and energy-related activities (not included in Scopes 1 or 2) (metric tons CO2e)

4144

Scope 3: Upstream transportation and distribution (metric tons CO2e)

Scope 3: Waste generated in operations (metric tons CO2e)

336

Scope 3: Business travel (metric tons CO2e)

13264

Scope 3: Employee commuting (metric tons CO2e)

17860

Scope 3: Upstream leased assets (metric tons CO2e)

Scope 3: Downstream transportation and distribution (metric tons CO2e)

Scope 3: Processing of sold products (metric tons CO2e)

Scope 3: Use of sold products (metric tons CO2e)

Scope 3: End of life treatment of sold products (metric tons CO2e)

Scope 3: Downstream leased assets (metric tons CO2e)

Scope 3: Franchises (metric tons CO2e)

Scope 3: Investments (metric tons CO2e)

Scope 3: Other (upstream) (metric tons CO2e)

Scope 3: Other (downstream) (metric tons CO2e)

Comment

See Allstate's 2019 CDP Response question 6.5

CDP Page of 7342

Past year 5

Start date

January 1 2017

End date

December 31 2017

Scope 3: Purchased goods and services (metric tons CO2e)

1854

Scope 3: Capital goods (metric tons CO2e)

4279

Scope 3: Fuel and energy-related activities (not included in Scopes 1 or 2) (metric tons CO2e)

4506

Scope 3: Upstream transportation and distribution (metric tons CO2e)

Scope 3: Waste generated in operations (metric tons CO2e)

528

Scope 3: Business travel (metric tons CO2e)

20119

Scope 3: Employee commuting (metric tons CO2e)

16969

Scope 3: Upstream leased assets (metric tons CO2e)

Scope 3: Downstream transportation and distribution (metric tons CO2e)

Scope 3: Processing of sold products (metric tons CO2e)

Scope 3: Use of sold products (metric tons CO2e)

Scope 3: End of life treatment of sold products (metric tons CO2e)

Scope 3: Downstream leased assets (metric tons CO2e)

Scope 3: Franchises (metric tons CO2e)

Scope 3: Investments (metric tons CO2e)

Scope 3: Other (upstream) (metric tons CO2e)

Scope 3: Other (downstream) (metric tons CO2e)

Comment

See Allstate's 2018 CDP Response question 6.5

C6.10

(C6.10) Describe your gross global combined Scope 1 and 2 emissions for the reporting year in metric tons CO2e per unit currency total revenue and provide any

additional intensity metrics that are appropriate to your business operations.

Intensity figure

0.000002126

Metric numerator (Gross global combined Scope 1 and 2 emissions, metric tons CO2e)

109284

Metric denominator

unit total revenue

Metric denominator: Unit total

51412000000

Scope 2 figure used

Location-based

% change from previous year

Direction of change

Increased

Reason(s) for change

Acquisitions

Change in methodology

Please explain

Scope 1 and 2 location-based emissions per unit total revenue increased by 42% from 0.0000014920 in 2021. This increase is likely due to a disproportionately large

increase in data quality compared to increase in revenue.

CDP Page of 7343

C7. Emissions breakdowns

C7.7

(C7.7) Is your organization able to break down your emissions data for any of the subsidiaries included in your CDP response?

Yes

C7.7a

(C7.7a) Break down your gross Scope 1 and Scope 2 emissions by subsidiary.

Subsidiary name

National General

Primary activity

Insurance

Select the unique identifier(s) you are able to provide for this subsidiary

Please select

ISIN code – bond

ISIN code – equity

CUSIP number

Ticker symbol

SEDOL code

LEI number

Other unique identifier

Scope 1 emissions (metric tons CO2e)

2095

Scope 2, location-based emissions (metric tons CO2e)

15491

Scope 2, market-based emissions (metric tons CO2e)

15491

Comment

For more information, see allstatesustainability.com

C7.9

(C7.9) How do your gross global emissions (Scope 1 and 2 combined) for the reporting year compare to those of the previous reporting year?

Increased

C7.9a

CDP Page of 7344

(C7.9a) Identify the reasons for any change in your gross global emissions (Scope 1 and 2 combined), and for each of them specify how your emissions compare

to the previous year.

Change in

emissions

(metric tons

CO2e)

Direction of

change in

emissions

Emissions

value

(percentage)

Please explain calculation

Change in

renewable

energy

consumption

<Not

Applicable>

Other emissions

reduction

activities

<Not

Applicable>

Divestment <Not

Applicable>

Acquisitions 17586 Increased 19 Total scope 1 and scope 2 location-based emissions in 2022 for recently acquired subsidiary National General, which was included for the first

time in the 2022 GHG inventory:

2,095 mt CO2e + 15,491 mt CO2e = 17,586 mt CO2e.

This was divided by total scope 1 and scope 2 location-based emissions for Allstate in 2021:

17,586 mt CO2e / (20,932 mt CO2e + 69,332 mt CO2e) = 19%.

Mergers <Not

Applicable>

Change in

output

<Not

Applicable>

Change in

methodology

19020 Increased 18 Updated methodology due to improved data for more precise emissions calculations. The residual increase in scope 1 and scope 2 location-

based emissions between 2021 and 2022, after changes due to renewable energy consumption, acquisition, and physical operating conditions

were accounted for, was attributed to methodology changes.

Total change in scope 1 + scope 2 location-based emissions from 2021 to 2022:

(38,610 mt CO2e + 70,674 mt CO2e) - (40,027 mt CO2e + 66,373 mt CO2e) = 19,020 mt CO2e.

That total change in scope 1 + scope 2 location-based emissions from 2021 to 2022, less the increase from acquisition and the decrease from

changes to physical operating conditions:

19,020 mt CO2e – 17,586 mt CO2e – -20,761 mt CO2e = 19,327 mt CO2e.

Percent change: 19,327 mt CO2e / (38,610 mt CO2e + 70,674 mt CO2e) = 18% increase.

Change in

boundary

<Not

Applicable>

Change in

physical

operating

conditions

25135 Decreased 23 Allstate closed 23% of square footage in 2022. This percentage was applied to the total scope 1 and scope 2 location-based emissions

calculated in 2021:

23% * (38,610 mt CO2e +70,674 mt CO2e) = 25,135 mt CO2e.

Unidentified <Not

Applicable>

Other <Not

Applicable>

C7.9b

(C7.9b) Are your emissions performance calculations in C7.9 and C7.9a based on a location-based Scope 2 emissions figure or a market-based Scope 2

emissions figure?

Location-based

C8. Energy

C8.1

(C8.1) What percentage of your total operational spend in the reporting year was on energy?

More than 0% but less than or equal to 5%

C8.2

(C8.2) Select which energy-related activities your organization has undertaken.

Indicate whether your organization undertook this energy-related activity in the reporting year

Consumption of fuel (excluding feedstocks) Yes

Consumption of purchased or acquired electricity Yes

Consumption of purchased or acquired heat No

Consumption of purchased or acquired steam Yes

Consumption of purchased or acquired cooling No

Generation of electricity, heat, steam, or cooling No

CDP Page of 7345

C8.2a

(C8.2a) Report your organization’s energy consumption totals (excluding feedstocks) in MWh.

Heating value MWh from renewable sources MWh from non-renewable sources Total (renewable and non-renewable) MWh

Consumption of fuel (excluding feedstock) HHV (higher heating value) 0 83613 83613

Consumption of purchased or acquired electricity <Not Applicable> 35629 120910.99 156539.99

Consumption of purchased or acquired heat <Not Applicable> <Not Applicable> <Not Applicable> <Not Applicable>

Consumption of purchased or acquired steam <Not Applicable> 0 20869.76 20869.76

Consumption of purchased or acquired cooling <Not Applicable> <Not Applicable> <Not Applicable> <Not Applicable>

Consumption of self-generated non-fuel renewable energy <Not Applicable> <Not Applicable> <Not Applicable> <Not Applicable>

Total energy consumption <Not Applicable> 35629 310844.76 346473.76

C8.2g

(C8.2g) Provide a breakdown by country/area of your non-fuel energy consumption in the reporting year.

Country/area

United States of America

Consumption of purchased electricity (MWh)

139828

Consumption of self-generated electricity (MWh)

Is this electricity consumption excluded from your RE100 commitment?

Consumption of purchased heat, steam, and cooling (MWh)

20870

Consumption of self-generated heat, steam, and cooling (MWh)

Total non-fuel energy consumption (MWh) [Auto-calculated]

Country/area

Mexico

Consumption of purchased electricity (MWh)

2602

Consumption of self-generated electricity (MWh)

Is this electricity consumption excluded from your RE100 commitment?

Consumption of purchased heat, steam, and cooling (MWh)

Consumption of self-generated heat, steam, and cooling (MWh)

Total non-fuel energy consumption (MWh) [Auto-calculated]

Country/area

India

Consumption of purchased electricity (MWh)

5795

Consumption of self-generated electricity (MWh)

Is this electricity consumption excluded from your RE100 commitment?

Consumption of purchased heat, steam, and cooling (MWh)

Consumption of self-generated heat, steam, and cooling (MWh)

Total non-fuel energy consumption (MWh) [Auto-calculated]

Country/area

United Kingdom of Great Britain and Northern Ireland

Consumption of purchased electricity (MWh)

CDP Page of 7346

2039

Consumption of self-generated electricity (MWh)

Is this electricity consumption excluded from your RE100 commitment?

Consumption of purchased heat, steam, and cooling (MWh)

Consumption of self-generated heat, steam, and cooling (MWh)

Total non-fuel energy consumption (MWh) [Auto-calculated]

Country/area

Canada

Consumption of purchased electricity (MWh)

5852

Consumption of self-generated electricity (MWh)

Is this electricity consumption excluded from your RE100 commitment?

Consumption of purchased heat, steam, and cooling (MWh)

Consumption of self-generated heat, steam, and cooling (MWh)

Total non-fuel energy consumption (MWh) [Auto-calculated]

Country/area

Bermuda

Consumption of purchased electricity (MWh)

Consumption of self-generated electricity (MWh)

Is this electricity consumption excluded from your RE100 commitment?

Consumption of purchased heat, steam, and cooling (MWh)

Consumption of self-generated heat, steam, and cooling (MWh)

Total non-fuel energy consumption (MWh) [Auto-calculated]

Country/area

Japan

Consumption of purchased electricity (MWh)

399

Consumption of self-generated electricity (MWh)

Is this electricity consumption excluded from your RE100 commitment?

Consumption of purchased heat, steam, and cooling (MWh)

Consumption of self-generated heat, steam, and cooling (MWh)

Total non-fuel energy consumption (MWh) [Auto-calculated]

C9. Additional metrics

C9.1

CDP Page of 7347

(C9.1) Provide any additional climate-related metrics relevant to your business.

Description

Other, please specify (0)

Metric value

Metric numerator

Metric denominator (intensity metric only)

% change from previous year

Direction of change

No change

Please explain

For more information, see allstatesustainability.com

C10. Verification

C10.1

(C10.1) Indicate the verification/assurance status that applies to your reported emissions.

Verification/assurance status

Scope 1 Third-party verification or assurance process in place

Scope 2 (location-based or market-based) Third-party verification or assurance process in place

Scope 3 Third-party verification or assurance process in place

C10.1a

(C10.1a) Provide further details of the verification/assurance undertaken for your Scope 1 emissions, and attach the relevant statements.

Verification or assurance cycle in place

Annual process

Status in the current reporting year

Complete

Type of verification or assurance

Limited assurance

Attach the statement

CDP Verification Statement 2022 Allstate-Final.pdf

Page/ section reference

1-2

Relevant standard

ISO14064-3

Proportion of reported emissions verified (%)

100

C10.1b

CDP Page of 7348

(C10.1b) Provide further details of the verification/assurance undertaken for your Scope 2 emissions and attach the relevant statements.

Scope 2 approach

Scope 2 location-based

Verification or assurance cycle in place

Annual process

Status in the current reporting year

Complete

Type of verification or assurance

Limited assurance

Attach the statement

CDP Verification Statement 2022 Allstate-Final.pdf

Page/ section reference

1-2

Relevant standard

ISO14064-3

Proportion of reported emissions verified (%)

100

Scope 2 approach

Scope 2 market-based

Verification or assurance cycle in place

Annual process

Status in the current reporting year

Complete

Type of verification or assurance

Limited assurance

Attach the statement

CDP Verification Statement 2022 Allstate-Final.pdf

Page/ section reference

1-2

Relevant standard

ISO14064-3

Proportion of reported emissions verified (%)

100

C10.1c

(C10.1c) Provide further details of the verification/assurance undertaken for your Scope 3 emissions and attach the relevant statements.

Scope 3 category

Scope 3: Business travel

Verification or assurance cycle in place

Annual process

Status in the current reporting year

Complete

Type of verification or assurance

Limited assurance

Attach the statement

CDP Verification Statement 2022 Allstate-Final.pdf

Page/section reference

1-2

Relevant standard

ISO14064-3

Proportion of reported emissions verified (%)

100

C10.2

(C10.2) Do you verify any climate-related information reported in your CDP disclosure other than the emissions figures reported in C6.1, C6.3, and C6.5?

Yes

CDP Page of 7349

C10.2a

(C10.2a) Which data points within your CDP disclosure have been verified, and which verification standards were used?

Disclosure

module

verification

relates to

Data verified Verification

standard

Please explain

C5.

Emissions

performance

Year on year

change in

emissions

(Scope 1)

ISO 14064-

Allstate has elected to also have our Scope 1 year on year change in emissions verified so that the company can make comparisons used for identifying increases or

decreases in emissions, and progress towards its goals. It is also used for verification purposes. These additional data points are verified on an annual basis, and for

Scope 1 includes 100% of our operations. The Scope 1 emissions are reported in question C6.1 and included in the year on year change in Scope 1 and 2 combined

in question C7.9a.

C5.

Emissions

performance

Year on year

change in

emissions

(Scope 2)

ISO 14064-

We have elected to also have our Scope 2 year on year change in emissions verified so that we can make comparisons used for identifying increases or decreases in

emissions, and progress towards our goals. It is also used for verification purposes. These additional data points are verified on an annual basis, and for Scope 2

includes 100% of our operations.

C5.

Emissions

performance

Year on year

change in

emissions

(Scope 1 and 2)

ISO 14064-

Allstate has elected to also have its Scope 1 and 2 year on year change in emissions verified so that the company can make comparisons used for identifying

increases or decreases in emissions, and progress towards its goals. It is also used for verification purposes. The Scope 1 and 2 emissions are reported in questions

C6.1 and Scope 1 and 2 includes 100% of our operations. The assurance statement referencing these data points is attached.

C5.

Emissions

performance

Year on year

change in

emissions

(Scope 3)

ISO 14064-

Allstate has elected to also have its Scope 3 year on year change in emissions verified so that the company can make comparisons used for identifying increases or

decreases in emissions, and progress towards our goals. It is also used for verification purposes. These additional data points are verified on an annual basis, and for

Scope 3 includes only Business Travel. The Scope 3 emissions are reported in questions C6.5. The assurance statement referencing these data points is attached.

C8. Energy Energy

consumption

ISO 14064-

We have elected to have our scope 1 and 2 emissions verified.

C11. Carbon pricing

C11.2

(C11.2) Has your organization canceled any project-based carbon credits within the reporting year?

C11.3

(C11.3) Does your organization use an internal price on carbon?

No, and we do not currently anticipate doing so in the next two years

C12. Engagement

C12.1

(C12.1) Do you engage with your value chain on climate-related issues?

Yes, our suppliers

Yes, our customers/clients

Yes, our investees

C12.1a

(C12.1a) Provide details of your climate-related supplier engagement strategy.

Type of engagement

Engagement & incentivization (changing supplier behavior)

Details of engagement

Other, please specify (Include sustainability and climate-related questions during the RFP process)

% of suppliers by number

100

% total procurement spend (direct and indirect)

% of supplier-related Scope 3 emissions as reported in C6.5

CDP Page of 7350

Rationale for the coverage of your engagement

Environmental and social leadership in Allstate’s strategic sourcing and purchasing decisions helps the company demonstrate Our Shared Purpose. In 2018 the Chief

Procurement Officer established a full-time position dedicated to overseeing Allstate’s sustainable procurement process. In this role, the Sustainable Procurement Lead

facilitates Allstate’s sustainable procurement strategy that evaluates, tracks, and mitigates ESG risk exposure, increasing visibility and transparency in the supply chain. In

2020, Allstate appointed its first-ever Chief Sustainability Officer.

The company screens suppliers for ethical and sustainable practices and helps them adopt similar behaviors by asking all suppliers sustainability-related questions during

the supplier Request for Proposal (RFP) process. This includes disclosing their environmental performance via the CDP Climate questionnaire. 100% of the 135 RFx events

conducted by Allstate in 2022 included these questions, impacting 100% of all procurement spend for those events. Figures are reported for this question as Allstate

believes they best reflect its efforts to engage with all suppliers on sustainability issues. Allstate is evolving its category/ sourcing and supplier management processes by

integrating ESG criteria into its end-to-end procurement processes and systems, including Request for Proposals, Request for Information, Request for Quotes (also known

as RFx) events, supplier agreements, supplier performance assessment scorecards, as well as developing and leveraging sustainability KPIs and metrics. In 2022 the RFx

transactions managed by Sourcing & Procurement Solutions engaged 1256 suppliers (20% of our total supply chain) which represented 20% of Allstate’s 2022 procurement

spend. By understanding how suppliers are managing climate-related risks, Allstate can better articulate its expectations. By managing these risks, Allstate aligns

procurement decisions with environmental and social responsibility, increasing stakeholder confidence.

Impact of engagement, including measures of success

Allstate relies on more than 6411 third-party suppliers (excluding claims remediation related suppliers) to provide goods and services, illustrating the role that the Sourcing &

Procurement Solutions organization can have in driving higher degrees of sustainability within Allstate. Allstate’s 2022 sustainable procurement activities included:

1) Offering employees’ rental cars from a leading car rental company whose leadership has its own set of core values that align with Allstate’s. The car rental company

provides hybrid vehicles for companies that want to encourage and, in some cases, require the traveling employee to rent a hybrid because of the lower impact that it has

on our environment.

2) Partnering with Safelite, a windshield repair company that provides customers with windshield glass replacement and recycling services. The recycling process reduces

the impact of GHG emissions due to avoided emissions in the manufacturing of new glass. It is estimated that over 90% of windshield materials can be recycled, and since

its inception in 2012, the recycling program has recycled 15 million windshields. 1 ton of CO2 emissions are prevented for every 6 tons of glass recycled, and through its

partnership with Safelite, Allstate recycled 3,604 tons of glass during 2022. The long-term benefits of this partnership include the reduction of waste to landfill, energy

conservation, and the creation of 8 jobs for every 1,000 tons of glass recycled.

3) E-waste is the world's fastest growing waste stream. One of the tools Allstate uses to measure responsible procurement performance is the Electronics Environmental

Benefits Calculator provided by its partner HOBI International Inc., which services all Allstate facilities nationwide with IT and mobile asset disposition. In 2022, Allstate's

partnership with HOBI extended the life of 39,249 devices through reuse and recycled 7,101 more. Energy savings captured in 2022 was equivalent to powering almost

6195 US households with electricity for one year and air emissions were reduced by 302,848 metric tons.

Comment

For more information, see allstatesustainability.com

Type of engagement

Information collection (understanding supplier behavior)

Details of engagement

Collect GHG emissions data at least annually from suppliers 

% of suppliers by number

% total procurement spend (direct and indirect)

100

% of supplier-related Scope 3 emissions as reported in C6.5

Rationale for the coverage of your engagement

In 2020, Allstate joined CDP Supply Chain to enable the company to measure and manage supplier emissions impact, increasing visibility and transparency in its supply

chain. In 2022, 169 suppliers were invited to participate in the CDP Climate questionnaire. Allstate achieved a 93% response rate from this subset of suppliers (vs a 64%

response among all other CDP members), Allstate’s supplier selection process incorporates the following criteria: 1) Annual spend, 2) Segmentation classification, 3)

Carbon intensity, 4) Small businesses or first-time responders, 5) Invitation history. Data collected informs areas of supplier progress and improvement, identifies

collaborative opportunities that generate mutual business value, and influences Allstate’s emissions reduction progress that is reported to its investors and customers. The

169 invited suppliers represent 101% of Allstate’s total addressable spend. Of the 169 suppliers, 136 are among Allstate’s top 300 critical suppliers which represent 107% of

Allstate’s addressable spend. Addressable spend represents the portion of a company’s spending that can be influenced/optimized through strategic sourcing and

procurement activities. The percentage is higher than 100% as these suppliers include third parties outside the scope of addressable spend.

Impact of engagement, including measures of success

The impact of engagement with Allstate’s suppliers resulted in $10B in annual monetary savings and 46MMT in estimated annual CO2 reduction. Allstate measures its

success of engagement by its annual supplier response rate which increased from 90% in 2021 to 93% in 2022. CDP performance is a component of Allstate’s Supplier

Performance Assessment scorecard. Suppliers are rated annually on their CDP participation and tracked in Allstate's enterprise governance risk management and

compliance platform.

Comment

For more information, see allstatesustainability.com

Type of engagement

Engagement & incentivization (changing supplier behavior)

Details of engagement

Run an engagement campaign to educate suppliers about climate change

% of suppliers by number

% total procurement spend (direct and indirect)

% of supplier-related Scope 3 emissions as reported in C6.5

Rationale for the coverage of your engagement

In 2020, Allstate focused on measuring the percentage of suppliers responding to the CDP Climate questionnaire. In 2021, Allstate’s response rate increased to 90% and in

2022, the response rate was 93%, compared to the average response rate of 64% among all CDP member companies. In 2022, Allstate focused on the 12 suppliers (7%)

CDP Page of 7351

who did not respond to the CDP Climate questionnaire. The rationale for not responding was provided by five suppliers. Allstate’s Chief Procurement Officer reached out to

the remaining seven suppliers to understand why they did not disclose their environmental data. Suppliers were also informed that their company's CDP disclosure status

may be considered as a component of its supplier performance review. Allstate’s intent was to identify any challenges suppliers might have experienced during 2022

disclosure and to provide guidance and coaching for improving their performance in 2023.

Impact of engagement, including measures of success

Allstate’s intent is to educate suppliers across various industries, in particular those who are participating in CDP for the first time. Many of Allstate’s suppliers are service

providers who are not familiar with the emissions generated by their business operations. Setting expectations drives awareness of climate change risks and opportunities,

improvement of sustainability capabilities, as well as enabling suppliers to establish a baseline for reducing their emissions and improving their performance year over year.

During the reporting year, suppliers were encouraged to take the first step by identifying emissions reduction activities in their operations which will influence their goal

setting. Suppliers were provided individual consultation via one-on-one coaching sessions, industry specific guidance to help them understand the impact of GHG emissions

on their operations, and personalized communications identifying target areas within their business. This supplier engagement strategy helps suppliers assess the risks and

opportunities associated with the emissions in their operations and helps them improve their climate change strategies.

The threshold at which Allstate consider its impact to be successful in engaging with the 12 non-responding suppliers is 100%. Allstate achieved an 83% success rate due

to the two non-responding suppliers who did not disclose to CDP in 2021 or 2022.

Comment

For more information, see allstatesustainability.com

Type of engagement

Engagement & incentivization (changing supplier behavior)

Details of engagement

Run an engagement campaign to educate suppliers about climate change

% of suppliers by number

100

% total procurement spend (direct and indirect)

100

% of supplier-related Scope 3 emissions as reported in C6.5

Rationale for the coverage of your engagement

As part of the procurement process, all suppliers, existing and new, doing business with Allstate must adhere to the requirements of Allstate’s Supplier Code of Business

Conduct regarding human rights, environmental stewardship, diversity, equity & inclusion and more.

In 2022, Allstate began updating the Environmental Stewardship section of its Supplier Code of Business Conduct to include reducing greenhouse gas emissions,

increasing energy efficiency, reducing water and natural resource consumption, and increasing waste diversion from landfills. The final document will be published in Q1

2023.

Further formalizing the expectations in its Code, in 2021, Allstate updated its contractual language to include ESG expectations of suppliers. In 2022, Allstate created a

Sustainability Rider which contains the same contractual sustainability language reflected in supplier agreement templates. The Sustainability Rider is a stand-alone

document which is used for inclusion in re-negotiated contracts and contracts with Evergreen clauses. It allows Allstate to re-engage on climate-related topics and

expectations with existing suppliers as robustly as Allstate does with new suppliers, ensuring that engagement covers 100% of suppliers. Speaking points were also

developed to help sourcing managers and business stakeholders understand the importance and value of the sustainability language to Allstate.

Allstate requests that suppliers use commercially reasonable efforts to provide environmentally and socially responsible products and services and improve their business

processes to reflect current industry practices and improvements in environmental and social responsibility. Allstate expects suppliers to have their own written Codes of

Conduct that ensure compliance with all applicable environmental laws and regulations. Allstate is also committed to mitigating climate risk through supply chain emissions

reduction. Allstate expects suppliers will disclose their relevant data via the CDP Climate Change questionnaire. These expectations are reflected in Supplier Agreements

and the Supplier Code of Business Conduct.

Allstate engaged with Allstate India to align sustainable procurement opportunities, including emissions reduction in the supply chains, and the alignment of sustainable

procurement practices in the United States. An action plan will be identified in 2023.

Impact of engagement, including measures of success

The threshold at which Allstate consider engagement to be successful: Allstate expects 100% of its suppliers to comply with the Supplier Code of Business Conduct, as

stated in Supplier Agreements. To assist suppliers in meeting their contractual obligation, Allstate provides resources and guidance to those suppliers who might not have

their own documented company Codes.

Further formalizing the expectations in Supplier Agreements, a procurement process for Diversity and Sustainability Contract Language Governance was rolled out in 2022.

Impact of engagement: Diversity and sustainability contract language must be included in 100% of the agreements signed with third party suppliers. If a supplier requests

that this language be removed from a contract, the removal must be approved by the senior vice president or vice president in the Sourcing & Procurement Solutions

department. Allstate’s Supplier Agreements and Supplier Code of Business Conduct include the expectations that suppliers submit to CDP. Impact of engagement:

Suppliers are rated on their CDP participation via the Supplier Performance Assessment scorecard. Allstate uses an enterprise governance risk management and

compliance platform to track participation of 100% of the suppliers invited to participate in the CDP Climate questionnaire.

Aligning emissions expectations to supplier agreements is the initial step in engaging suppliers on climate related issues and the associated risks and opportunities.

Allstate’s updated Supplier Code of Business Conduct and supplier agreements drive awareness to Allstate’s annual CDP Supply Chain reporting expectations, which

drives action among suppliers to establish their own emissions reduction initiatives. This is an opportunity to educate suppliers on the importance of CDP disclosure, and the

impact of their emissions on Allstate’s net zero commitment. Examples: Suppliers who are beginning their sustainability journey have a better understanding of their carbon

footprint and emissions reduction opportunities and are provided guidance for improving their environmental performance. As part of Allstate’s goal to educate suppliers and

advocacy group partners on emissions reduction, during its 2022 Business Diversity Summit, Allstate provided resources to encourage companies to establish their own

ESG initiatives and to develop a company code of conduct.

Comment

For more information, see allstatesustainability.com

C-FS12.1b

CDP Page of 7352

(C-FS12.1b) Give details of your climate-related engagement strategy with your clients.

Type of clients

Customers/clients of Insurers

Type of engagement

Engagement & incentivization (changing client behavior)

Details of engagement

Offer financial incentives for clients who reduce your downstream emissions (Scope 3) and/or exposure to carbon-related assets

% client-related Scope 3 emissions as reported in C-FS14.1a

Portfolio coverage (total or outstanding)

Rationale for the coverage of your engagement

Non-targeted engagement

Impact of engagement, including measures of success

Allstate provides financial incentives to customers for driving less, which results in reduced carbon emissions. Milewise, Allstate’s pay-per-mile auto insurance, is available

in 22 states (~50% of the market) and gives customers the same great coverage and claim service from Allstate.

Impact of engagement: The number of vehicles that are written under the Milewise product increased by about 30% in 2022. Allstate ended 2022 with around 350,000

vehicles enrolled in the Milewise product. This is approximately 2% of the standard auto Allstate vehicles countrywide.

Measure and threshold of success: In 2023, Allstate is targeting consistent month-over-month growth of Milewise policies even considering the rise of miles driven.

Examples: Customers with the Milewise product have told Allstate that the product encourages them to walk or ride their bike more often, drives them to become more

efficient with errands, and leads them to plan their trips with the shortest route possible; all of which can reduce carbon emissions. Please note: the portfolio coverage

percentage is based on the total standard auto Allstate vehicles countrywide.

C-FS12.1c

(C-FS12.1c) Give details of your climate-related engagement strategy with your investees.

Type of engagement

Information collection (Understanding investee behavior)

Details of engagement

Climate-related criteria is integrated into investee evaluation processes

Collect climate-related and carbon emissions information at least annually from long-term investees

% scope 3 emissions as reported in C-FS14.1a/C-FS14.1b

100

Investing (Asset managers) portfolio coverage

Investing (Asset owners) portfolio coverage

Rationale for the coverage of your engagement

Other, please specify (Allstate collects MSCI data for all investees with MSCI ESG Ratings. Allstate’s coverage is dependent upon the availability of MSCI’s ESG Ratings

reports, which is typically limited to public companies.)

Impact of engagement, including measures of success

Allstate uses MSCI data on public companies to help inform key issues related to private companies who do not have public ratings. This data is included in Allstate’s

assessment of potential exposures to environmental risks, including climate change. The data can also be used by analysts to engage with management teams on certain

issues that may not align with Allstate’s values or may present future risks to those investments.

Measure of success: The success of this engagement is measured by the proportion of higher-rated companies within the portfolio, as Allstate aims to consider ESG issues

that may influence investment performance and align with company values.

Allstate’s data quality has increased since it started gathering information. Over time, Allstate would expect higher availability of information disclosed by its investees.

C-FS12.2

(C-FS12.2) Does your organization exercise voting rights as a shareholder on climate-related issues?

Exercise voting rights as a shareholder on climate-

related issues

Primary reason for not exercising voting rights as a shareholder on

climate-related issues

Explain why you do not exercise voting rights on climate-

related issues

Row

Yes <Not Applicable> <Not Applicable>

C-FS12.2a

CDP Page of 7353

(C-FS12.2a) Provide details of your shareholder voting record on climate-related issues.

Method used to exercise your voting rights as a shareholder

Exercise voting rights through an external service provider

How do you ensure your shareholder voting rights are exercised in line with your overall strategy or transition plan?

Review external service provider’s climate-related policies

Percentage of voting disclosed across portfolio

Climate-related issues supported in shareholder resolutions

Do you publicly disclose the rationale behind your voting on climate-related issues?

C12.3

(C12.3) Does your organization engage in activities that could either directly or indirectly influence policy, law, or regulation that may impact the climate?

Row 1

External engagement activities that could directly or indirectly influence policy, law, or regulation that may impact the climate

Yes, we engage directly with policy makers

Yes, we fund organizations or individuals whose activities could influence policy, law, or regulation that may impact the climate

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?

No, and we do not plan to have one in the next two years

Attach commitment or position statement(s)

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or

climate transition plan

Since 2018, Allstate’s chief risk officer has conducted an annual risk and return assessment of Allstate’s political activities to ensure appropriate oversight and management

of Allstate’s political activities. In the annual review for 2022, he concluded that Allstate’s control framework appropriately manages the risks in Allstate’s political activities

and that sufficient governance and oversight processes exist to ensure activities are aligned with Allstate’s risk and return principles. Also, Allstate has had an ESG Steering

Committee (formerly, the Sustainability Council) since 2007. This cross-functional management committee supports Allstate’s ongoing commitment to environmental, health

and safety, corporate social responsibility, human capital management, corporate governance, sustainability, and other public policy matters. The committee is comprised of

individuals from Strategy, Finance, Financial Products, Enterprise Solutions, Corporate Brand, Enterprise Risk and Return Management, Human Resources, Legal,

Investments, Property-Liability, and Protection Products and Services. Allstate’s senior vice president of corporate strategy and senior vice president of corporate law co-

chair the committee, which meets monthly, and updates senior executives.

Primary reason for not engaging in activities that could directly or indirectly influence policy, law, or regulation that may impact the climate

Explain why your organization does not engage in activities that could directly or indirectly influence policy, law, or regulation that may impact the climate

C12.3a

CDP Page of 7354

(C12.3a) On what policy, law, or regulation that may impact the climate has your organization been engaging directly with policy makers in the reporting year?

Specify the policy, law, or regulation on which your organization is engaging with policy makers

Allstate supports legislation to improve catastrophe mitigation, including the Resilient AMERICA Act.

Category of policy, law, or regulation that may impact the climate

Climate change mitigation

Focus area of policy, law, or regulation that may impact the climate

Other, please specify  (Natural disaster mitigation)

Policy, law, or regulation geographic coverage

National

Country/area/region the policy, law, or regulation applies to

United States of America

Your organization’s position on the policy, law, or regulation

Support with no exceptions

Description of engagement with policy makers

Allstate actively engages federal and state governments on catastrophe management issues and building code and land use planning reform. This engagement began prior

to 2017 and is expected to continue through 2023 and beyond. The purpose of this engagement is to help protect consumers from fraud and mitigate catastrophes losses.

Details of exceptions (if applicable) and your organization’s proposed alternative approach to the policy, law or regulation

Have you evaluated whether your organization’s engagement on this policy, law, or regulation is aligned with the goals of the Paris Agreement?

No, we have not evaluated

Please explain whether this policy, law or regulation is central to the achievement of your climate transition plan and, if so, how?

C12.3c

(C12.3c) Provide details of the funding you provided to other organizations or individuals in the reporting year whose activities could influence policy, law, or

regulation that may impact the climate.

Type of organization or individual

Research organization

State the organization or individual to which you provided funding

Insurance Institute for Business & Home Safety (IBHS)

Funding figure your organization provided to this organization or individual in the reporting year (currency as selected in C0.4)

Describe the aim of this funding and how it could influence policy, law or regulation that may impact the climate

Allstate is an active member and financial supporter of IBHS. The IBHS mission is to conduct objective scientific research to identify and promote effective actions that

strengthen homes, businesses and communities against natural catastrophes and other causes of loss. Allstate partners with IBHS to promote more durable homes and

commercial buildings through better building practices and stronger codes. By working to increase resiliency, Allstate helps save lives and reduces the cost of severe

weather and natural disasters.

Have you evaluated whether this funding is aligned with the goals of the Paris Agreement?

No, we have not evaluated

Type of organization or individual

Non-Governmental Organization (NGO) or charitable organization

State the organization or individual to which you provided funding

The Allstate Foundation

Funding figure your organization provided to this organization or individual in the reporting year (currency as selected in C0.4)

Describe the aim of this funding and how it could influence policy, law or regulation that may impact the climate

The Allstate Foundation supports efforts by agency owners and their local non-profits to prepare communities for disasters by providing emergency kits and other tools.

These efforts increase awareness of weather-related risks and help people better protect themselves and loved ones.

Have you evaluated whether this funding is aligned with the goals of the Paris Agreement?

No, we have not evaluated

C12.4

CDP Page of 7355

(C12.4) Have you published information about your organization’s response to climate change and GHG emissions performance for this reporting year in places

other than in your CDP response? If so, please attach the publication(s).

Publication

In voluntary sustainability report

Status

Complete

Attach the document

Allstate_Website_Screenshots_072023_reduced_v2.pdf

Page/Section reference

"Climate Strategy and Disaster Resiliency" section (pages 3-8 in the attached document) and "Operational Footprint" section (pages 21-28 in the attached document), both

under "Environmental" on allstatesustainability.com

Content elements

Governance

Strategy

Risks & opportunities

Emissions figures

Emission targets

Other metrics

Comment

For more information, see allstatesustainability.com

Publication

In mainstream reports

Status

Complete

Attach the document

Allstate Proxy 2022.pdf

Page/Section reference

p.12-13 Sustainability Highlights

Content elements

Governance

Strategy

Risks & opportunities

Emission targets

Comment

For more information, see allstatesustainability.com

Publication

In voluntary communications

Status

Complete

Attach the document

Allstate 2022 Sustainability Report Executive Summary.pdf

Page/Section reference

All

Content elements

Governance

Strategy

Risks & opportunities

Emissions figures

Emission targets

Other metrics

Comment

For more information, see allstatesustainability.com

C12.5

(C12.5) Indicate the collaborative frameworks, initiatives and/or commitments related to environmental issues for which you are a signatory/member.

Environmental collaborative

framework, initiative and/or

commitment

Describe your organization’s role within each framework, initiative and/or commitment

Row

Task Force on Climate-related

Financial Disclosures (TCFD)

Allstate is transparent and shares information about its strategies to address climate risk and participates in opportunities arising from the transition to a lower carbon-based

economy. Allstate has published an annual Task Force on Climate-Related Financial Disclosures (TCFD) report since 2020. Allstate intends to further align its disclosures with

the recommendations of the TCFD in the future.

CDP Page of 7356

C14. Portfolio Impact

C-FS14.0

(C-FS14.0) For each portfolio activity, state the value of your financing and insurance of carbon-related assets in the reporting year.

Investing all carbon-related assets (Asset owner)

Are you able to report a value for the carbon-related assets?

No, but we plan to assess our portfolio’s exposure in the next two years

Value of the carbon-related assets in your portfolio (unit currency – as specified in C0.4)

New loans advanced in reporting year (unit currency – as specified in C0.4)

Total premium written in reporting year (unit currency – as specified in C0.4)

Percentage of portfolio value comprised of carbon-related assets in reporting year

Primary reason for not providing a value for the financing and/or insurance to carbon-related assets

Other, please specify (Sector hierarchy from CDP does not fit well with our internal sector hierarchy. We expect to reconcile these for future reporting. )

Please explain why you are not providing a value for the financing and/or insurance to carbon-related assets and your plans for the future

Sector hierarchy from CDP does not fit well with our internal sector hierarchy. We expect to reconcile these for future reporting.

Details of calculation

Investing in coal (Asset owner)

Are you able to report a value for the carbon-related assets?

No, and we do not plan to assess our portfolio’s exposure in the next two years

Value of the carbon-related assets in your portfolio (unit currency – as specified in C0.4)

New loans advanced in reporting year (unit currency – as specified in C0.4)

Total premium written in reporting year (unit currency – as specified in C0.4)

Percentage of portfolio value comprised of carbon-related assets in reporting year

Primary reason for not providing a value for the financing and/or insurance to carbon-related assets

Other, please specify (Coal mining is not broken out as a distinct sector in our reporting. However, our exposure is de minimis.)

Please explain why you are not providing a value for the financing and/or insurance to carbon-related assets and your plans for the future

Coal mining is not broken out as a distinct sector in our reporting. However, our exposure is de minimis.

Details of calculation

Investing in oil and gas (Asset owner)

Are you able to report a value for the carbon-related assets?

Yes

Value of the carbon-related assets in your portfolio (unit currency – as specified in C0.4)

2900000000

New loans advanced in reporting year (unit currency – as specified in C0.4)

Total premium written in reporting year (unit currency – as specified in C0.4)

Percentage of portfolio value comprised of carbon-related assets in reporting year

Primary reason for not providing a value for the financing and/or insurance to carbon-related assets

Please explain why you are not providing a value for the financing and/or insurance to carbon-related assets and your plans for the future

Details of calculation

Oil & gas upstream, midstream, refining, storage

CDP Page of 7357

Insuring all carbon-related assets

Are you able to report a value for the carbon-related assets?

Yes

Value of the carbon-related assets in your portfolio (unit currency – as specified in C0.4)

New loans advanced in reporting year (unit currency – as specified in C0.4)

Total premium written in reporting year (unit currency – as specified in C0.4)

194962422

Percentage of portfolio value comprised of carbon-related assets in reporting year

Primary reason for not providing a value for the financing and/or insurance to carbon-related assets

Please explain why you are not providing a value for the financing and/or insurance to carbon-related assets and your plans for the future

Details of calculation

Written premium for the categories listed below:

• Energy

• Material & Building

• Oil & Gas

• Transportation

Overall % of Allstate portfolio rounds down to 0%.

Insuring coal

Are you able to report a value for the carbon-related assets?

Yes

Value of the carbon-related assets in your portfolio (unit currency – as specified in C0.4)

New loans advanced in reporting year (unit currency – as specified in C0.4)

Total premium written in reporting year (unit currency – as specified in C0.4)

Percentage of portfolio value comprised of carbon-related assets in reporting year

Primary reason for not providing a value for the financing and/or insurance to carbon-related assets

Please explain why you are not providing a value for the financing and/or insurance to carbon-related assets and your plans for the future

Details of calculation

Coal industry – No Coal related premium identified.

Insuring oil and gas

Are you able to report a value for the carbon-related assets?

Yes

Value of the carbon-related assets in your portfolio (unit currency – as specified in C0.4)

New loans advanced in reporting year (unit currency – as specified in C0.4)

Total premium written in reporting year (unit currency – as specified in C0.4)

660929

Percentage of portfolio value comprised of carbon-related assets in reporting year

Primary reason for not providing a value for the financing and/or insurance to carbon-related assets

Please explain why you are not providing a value for the financing and/or insurance to carbon-related assets and your plans for the future

Details of calculation

Written premium: oil and gas; Overall % of Allstate portfolio rounds down to 0%.

C-FS14.1

CDP Page of 7358

(C-FS14.1) Does your organization measure its portfolio impact on the climate?

conduct

analysis

on our

portfolio's

impact on

the climate

Disclosure

metric

Please explain why you do not measure the impact of your portfolio on the climate

Banking

(Bank)

<Not

Applicable>

<Not

Applicable

Investing

(Asset

manager)

<Not

Applicable>

<Not

Applicable

Investing

(Asset

owner)

Yes Portfolio

emissions

Insurance

underwriting

(Insurance

company)

No, but we

plan to do

so in the

next two

years

<Not

Applicable

Allstate has been disclosing Scope 1 and 2 emissions for its CDP submission since 2007. Allstate has also performed an initial Scope 3 review of financed emissions

covering the investment portfolio and is enhancing its baseline inventory while working towards science-aligned targets. Allstate plans to expand its Task Force on Climate-

Related Financial Disclosures (TCFD) report to reflect the work done on measuring both operational emissions and financed emissions. Allstate is developing a financed

emissions inventory and heat map which helps identify the impact of its portfolio on climate change and facilitate emissions reductions. Allstate also realizes attractive risk

adjusted returns through investments that finance solutions to climate change. Allstate will continue to evaluate emerging methodologies for emissions associated with

underwriting activities that align with Allstate’s business practices and strategy.

C-FS14.1a

(C-FS14.1a) Provide details of your organization’s portfolio emissions in the reporting year.

Investing (Asset owner)

Portfolio emissions (metric unit tons CO2e) in the reporting year

3000000

Portfolio coverage

Percentage calculated using data obtained from clients/investees

Emissions calculation methodology

The Global GHG Accounting and Reporting Standard for the Financial Industry

Please explain the details and assumptions used in your calculation

Includes asset classes where data is available, which is primarily public equity and public corporate credit. Our calculation measures our share of our investees' Scope 1

and 2 emissions based on our investment as a proportion of investee firm value. We use MSCI for actual disclosed emissions and MSCI estimations for the balance. 47%

of the Allstate portfolio is covered as of year end 2022. 36% of the portfolio is reported and 11% is estimated. Therefore, 76% (36/47) is calculated using data reported. The

emissions intensity for the portion of the portfolio covered is 569 metric tons per $ millions of sales.

C-FS14.1c

CDP Page of 7359

(C-FS14.1c) Disclose or restate your portfolio emissions for previous years.

Past year 1 for Investing (Asset owner)

Start date

End date

Portfolio emissions (metric unit tons CO2e) in the reporting year

Portfolio coverage

Percentage calculated using data obtained from clients/investees

Emissions calculation methodology

Please explain the details and assumptions used in your calculation

Allstate calculated portfolio emissions for the first time for calendar year 2022. Allstate does not have calculated portfolio emissions to report for years prior to that.

Past year 2 for Investing (Asset owner)

Start date

End date

Portfolio emissions (metric unit tons CO2e) in the reporting year

Portfolio coverage

Percentage calculated using data obtained from clients/investees

Emissions calculation methodology

Please explain the details and assumptions used in your calculation

Allstate calculated portfolio emissions for the first time for calendar year 2022. Allstate does not have calculated portfolio emissions to report for years prior to that.

Past year 3 for Investing (Asset owner)

Start date

End date

Portfolio emissions (metric unit tons CO2e) in the reporting year

Portfolio coverage

Percentage calculated using data obtained from clients/investees

Emissions calculation methodology

Please explain the details and assumptions used in your calculation

Allstate calculated portfolio emissions for the first time for calendar year 2022. Allstate does not have calculated portfolio emissions to report for years prior to that.

Past year 4 for Investing (Asset owner)

Start date

End date

Portfolio emissions (metric unit tons CO2e) in the reporting year

Portfolio coverage

Percentage calculated using data obtained from clients/investees

Emissions calculation methodology

Please explain the details and assumptions used in your calculation

Allstate calculated portfolio emissions for the first time for calendar year 2022. Allstate does not have calculated portfolio emissions to report for years prior to that.

Past year 5 for Investing (Asset owner)

Start date

End date

Portfolio emissions (metric unit tons CO2e) in the reporting year

Portfolio coverage

Percentage calculated using data obtained from clients/investees

Emissions calculation methodology

Please explain the details and assumptions used in your calculation

Allstate calculated portfolio emissions for the first time for calendar year 2022. Allstate does not have calculated portfolio emissions to report for years prior to that.

C-FS14.2

CDP Page of 7360

(C-FS14.2) Are you able to provide a breakdown of your organization’s portfolio impact?

Portfolio breakdown Please explain why you do not provide a breakdown of your portfolio impact

Row

None of the above, but we

plan to do this in the next two

years

As described in C-FS14.1a, a significant portion of quantified portfolio impact is derived from investee sources. In cases where an investee source is unavailable, an estimate is

determined. We are actively expanding our portfolio coverage and intend to disclose financed emissions by asset class, industry or region as we reduce reliance on estimates in

the future.

C-FS14.3

(C-FS14.3) Did your organization take any actions in the reporting year to align your portfolio with a 1.5°C world?

Actions

taken to align

our portfolio

with a 1.5°C

world

Briefly explain the

actions you have

taken to align your

portfolio with a 1.5-

degree world

Please explain why you have not taken any action to align your portfolio with a 1.5°C world

Banking

(Bank)

<Not

Applicable>

Investing

(Asset

manager)

<Not

Applicable>

Investing

(Asset

owner)

No, but we

plan to in the

next two years

<Not Applicable> As the challenges associated with climate change grow, the world needs to transition to a low-carbon economy. Allstate’s role is to reduce emissions by

setting realistic and meaningful decarbonization goals. Allstate performs a Scope 3 review of financed emissions covering the investment portfolio, subject to

data availability, and the company is enhancing its baseline inventory. Allstate expects its efforts to be aided by the pending installation of Aladdin Climate

and by private firm data provided by Insight. By the end of 2025, Allstate will set a net zero goal for its financed emissions.

Insurance

underwriting

(Insurance

company)

No, but we

plan to in the

next two years

<Not Applicable> In December 2022, Allstate announced its commitment to achieve net zero emissions for its direct, indirect, and value-chain greenhouse gas emissions by

2030, other than its investment portfolio and underwriting emissions. Allstate will set a goal for financed emissions by the end of 2025. Allstate will continue to

evaluate emerging methodologies for emissions associated with underwriting activities that align with Allstate’s business practices and strategy.

C15. Biodiversity

C15.1

(C15.1) Is there board-level oversight and/or executive management-level responsibility for biodiversity-related issues within your organization?

Board-level oversight and/or executive management-level responsibility for biodiversity-related

issues

Description of oversight and objectives relating to

biodiversity

Scope of board-level

oversight

Row

No, and we do not plan to have both within the next two years <Not Applicable> <Not Applicable>

C15.2

(C15.2) Has your organization made a public commitment and/or endorsed any initiatives related to biodiversity?

Indicate whether your organization made a public commitment or endorsed any initiatives related to biodiversity Biodiversity-related public commitments Initiatives endorsed

Row 1 No, and we do not plan to do so within the next 2 years <Not Applicable> <Not Applicable>

C15.3

CDP Page of 7361

(C15.3) Does your organization assess the impacts and dependencies of its value chain on biodiversity?

Impacts on biodiversity

Indicate whether your organization undertakes this type of assessment

No and we don’t plan to within the next two years

Value chain stage(s) covered

Portfolio activity

Tools and methods to assess impacts and/or dependencies on biodiversity

Please explain how the tools and methods are implemented and provide an indication of the associated outcome(s)

Dependencies on biodiversity

Indicate whether your organization undertakes this type of assessment

No and we don’t plan to within the next two years

Value chain stage(s) covered

Portfolio activity

Tools and methods to assess impacts and/or dependencies on biodiversity

Please explain how the tools and methods are implemented and provide an indication of the associated outcome(s)

C15.4

(C15.4) Does your organization have activities located in or near to biodiversity- sensitive areas in the reporting year?

Not assessed

C15.5

(C15.5) What actions has your organization taken in the reporting year to progress your biodiversity-related commitments?

Have you taken any actions in the reporting period to progress your biodiversity-related commitments? Type of action taken to progress biodiversity- related commitments

Row 1 No, we are not taking any actions to progress our biodiversity-related commitments, but we plan to within the next two years <Not Applicable>

C15.6

(C15.6) Does your organization use biodiversity indicators to monitor performance across its activities?

Does your organization use indicators to monitor biodiversity performance? Indicators used to monitor biodiversity performance

Row 1 No Please select

C15.7

(C15.7) Have you published information about your organization’s response to biodiversity-related issues for this reporting year in places other than in your CDP

response? If so, please attach the publication(s).

Report type Content

elements

Attach the document and indicate where in the document the relevant biodiversity information is located

In voluntary sustainability report or other

voluntary communications

Impacts on

biodiversity

Fortune article published in 2022 on how Allstate’s investment in a sustainable farm promotes biodiversity: https://brand-studio.fortune.com/allstate/why-

allstates-sustainable-investing-strategy-centers-around-a-california-farm/?prx_t=pwcIAAAAAAfCERA

C16. Signoff

C-FI

CDP Page of 7362

(C-FI) Use this field to provide any additional information or context that you feel is relevant to your organization's response. Please note that this field is optional

and is not scored.

C16.1

(C16.1) Provide details for the person that has signed off (approved) your CDP climate change response.

Job title Corresponding job category

Row 1 Senior Vice President & Deputy General Counsel, Corporate Law (also Co-chair, ESG Steering Committee) Chief Sustainability Officer (CSO)

SC. Supply chain module

SC0.0

(SC0.0) If you would like to do so, please provide a separate introduction to this module.

The Allstate Corp. is one of the largest publicly held personal lines insurers in the United States. Allstate was founded in 1931 and became a publicly traded company in

1993. Allstate empowers customers with protection to help them achieve their hopes and dreams. It provides affordable, simple and connected protection solutions. It creates

opportunity for its team, economic value for its shareholders and improves communities. The Allstate Corp. common stock is listed on the New York Stock Exchange under

the trading symbol “ALL.” Common stock is also listed on the Chicago Stock Exchange. Its business is conducted principally through Allstate Insurance Company and other

subsidiaries (collectively, including The Allstate Corp., "Allstate"). The Allstate brand is widely known through the "You're in good hands with Allstate®" slogan. Allstate was

listed among Fortune Magazine’s World’s Most Admired Companies (2022), and named to the World’s Most Ethical Companies® list for the eighth year in a row. Allstate has

also been a member of the CDP “A” list for Climate Change in 2020, 2016 and 2012.

SC0.1

(SC0.1) What is your company’s annual revenue for the stated reporting period?

Annual Revenue

Row 1 51412000000

SC1.1

(SC1.1) Allocate your emissions to your customers listed below according to the goods or services you have sold them in this reporting period.

SC1.2

(SC1.2) Where published information has been used in completing SC1.1, please provide a reference(s).

SC1.3

(SC1.3) What are the challenges in allocating emissions to different customers, and what would help you to overcome these challenges?

Allocation challenges Please explain what would help you overcome these challenges

SC1.4

(SC1.4) Do you plan to develop your capabilities to allocate emissions to your customers in the future?

SC2.1

(SC2.1) Please propose any mutually beneficial climate-related projects you could collaborate on with specific CDP Supply Chain members.

SC2.2

CDP Page of 7363

(SC2.2) Have requests or initiatives by CDP Supply Chain members prompted your organization to take organizational-level emissions reduction initiatives?

SC4.1

(SC4.1) Are you providing product level data for your organization’s goods or services?

FW-FS Forests and Water Security (FS only)

FW-FS1.1

(FW-FS1.1) Is there board-level oversight of forests- and/or water-related issues within your organization?

Board-level oversight of this issue area Explain why your organization does not have board-level oversight of this issue area and any plans to address this in the future

Forests No, and we do not plan to in the next two years

Water No, and we do not plan to in the next two years

FW-FS1.1c

(FW-FS1.1c) Does your organization have at least one board member with competence on forests- and/or water-related issues?

Forests

Board member(s) have competence on this issue area

Criteria used to assess competence of board member(s) on this issue area

Primary reason for no board-level competence on this issue area

Explain why your organization does not have at least one board member with competence on this issue area and any plans to address this in the future

Water

Board member(s) have competence on this issue area

Criteria used to assess competence of board member(s) on this issue area

Primary reason for no board-level competence on this issue area

Explain why your organization does not have at least one board member with competence on this issue area and any plans to address this in the future

FW-FS1.2

(FW-FS1.2) Provide the highest management-level position(s) or committee(s) with responsibility for forests- and/or water-related issues.

Position or committee

Other, please specify (Impact Investment Team)

Issue area(s)

Forests

Water

Forests- and/or water-related responsibilities of this position

Assessing forests- and/or water-related risks and opportunities

Managing forests- and/or water-related risks and opportunities

Coverage of responsibilities

Risks and opportunities related to our investing (asset ownership) activities

Reporting line

Investment – CIO reporting line

Frequency of reporting to the board on forests- and/or water-related issues via this reporting line

Not reported to the board

Please explain

The Impact Investment Team oversees the existing impact portfolio and new potential investment acquisitions and divestitures within their delegated authority from the

Investments Deal Committee (the formal governance group). This includes natural capital investments which includes agriculture and timberland. As part of diligence and

ongoing portfolio monitoring forest and water-related risks and opportunities are assessed and discussed.

CDP Page of 7364

FW-FS2.1

(FW-FS2.1) Do you assess your portfolio's exposure to forests- and/or water-related risks and opportunities?

We assess our portfolio’s exposure to this issue

area

Explain why your portfolio's exposure is not assessed for this issue area and any plans to address this in

the future

Banking – Forests exposure <Not Applicable> <Not Applicable>

Banking – Water exposure <Not Applicable> <Not Applicable>

Investing (Asset manager) – Forests

exposure

Investing (Asset manager) – Water

exposure

Investing (Asset owner) – Forests

exposure

Yes <Not Applicable>

Investing (Asset owner) – Water exposure Yes <Not Applicable>

Insurance underwriting – Forests

exposure

Insurance underwriting – Water exposure <Not Applicable> <Not Applicable>

FW-FS2.1a

(FW-FS2.1a) Describe how you assess your portfolio's exposure to forests- and/or water-related risks and opportunities.

Investing (Asset owner) – Forests exposure

Type of risk management process

A specific ESG-related risk management process

Proportion of portfolio covered by risk management process

Type of assessment

Qualitative and quantitative

Time horizon(s) covered

Short-term

Medium-term

Long-term

Tools and methods used

External consultants

Internal tools/methods

Stress tests

% of clients/investees (by number) exposed to substantive risk

% of clients/investees (by portfolio exposure) exposed to substantive risk

Provide the rationale for implementing this process to assess your portfolio’s exposure to forests- and/or water-related risks and opportunities

Manage forestlands to be sustainably and certified to best-in-class sustainability standards. Manage fire risk and monitor insect damage for forestlands.

Investing (Asset owner) – Water exposure

Type of risk management process

A specific ESG-related risk management process

Proportion of portfolio covered by risk management process

Type of assessment

Qualitative and quantitative

Time horizon(s) covered

Short-term

Medium-term

Long-term

Tools and methods used

External consultants

Internal tools/methods

Stress tests

% of clients/investees (by number) exposed to substantive risk

% of clients/investees (by portfolio exposure) exposed to substantive risk

Provide the rationale for implementing this process to assess your portfolio’s exposure to forests- and/or water-related risks and opportunities

Manage water assets to meet high quality standards and for highest and best use principally in agriculture.

CDP Page of 7365

FW-FS2.2

(FW-FS2.2) Does your organization consider forests- and/or water-related information about clients/investees as part of its due diligence and/or risk assessment

process?

We consider forests- and/or water-

related information

Explain why information related to this issue area is not considered and any plans to address this in the future

Banking – Forests-related information <Not Applicable> <Not Applicable>

Banking – Water-related information <Not Applicable> <Not Applicable>

Investing (Asset manager) – Forests-

related information

Investing (Asset manager) – Water-

related information

Investing (Asset owner) – Forests-

related information

No, and we do not plan to in the next

two years

Although we have no current plans for this evaluation, as more information becomes available from third-party providers and

investees we will consider incorporating this into our process.

Investing (Asset owner) – Water-

related information

No, and we do not plan to in the next

two years

Although we have no current plans for this evaluation, as more information becomes available from third-party providers and

investees we will consider incorporating this into our process.

Insurance underwriting – Forests-

related information

Insurance underwriting – Water-related

information

FW-FS2.3

(FW-FS2.3) Have you identified any inherent forests- and/or water-related risks in your portfolio with the potential to have a substantive financial or strategic

impact on your business?

Risks identified for

this issue area

Primary reason why your organization has not identified

any substantive risks for this issue area

Explain why your organization has not identified any substantive risks for this issue area

Forests No Not yet evaluated Although Allstate has no current plans for this evaluation, as more information becomes available from third-party

providers and investees Allstate will consider incorporating this into its process.

Water No Not yet evaluated Although Allstate has no current plans for this evaluation, as more information becomes available from third-party

providers and investees Allstate will consider incorporating this into its process.

FW-FS2.4

(FW-FS2.4) Have you identified any inherent forests- and/or water-related opportunities in your portfolio with the potential to have a substantive financial or

strategic impact on your business?

Opportunities identified for

this issue area

Primary reason why your organization has not identified any substantive

opportunities for this issue area

Explain why your organization has not identified any substantive opportunities for

this issue area

Forests No Opportunities exist, but none with the potential to have a substantive financial or

strategic impact on business

Current size of these investments would not provide a substantial financial or strategic

impact on Allstate’s business.

Water No Opportunities exist, but none with the potential to have a substantive financial or

strategic impact on business

Current size of these investments portfolio would not provide a substantial financial or

strategic impact on Allstate’s business.

FW-FS3.1

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(FW-FS3.1) Do you take forests- and/or water-related risks and opportunities into consideration in your organization’s strategy and/or financial planning?

Forests

Risks and opportunities related to this issue area taken into consideration in strategy and/or financial planning

Yes, we take these risks and opportunities into consideration in the organization’s strategy

Description of influence on organization’s strategy including own commitments

Forest and water assets are being viewed as part of Natural Capital and a core component of Allstate’s Climate Investment Strategy.

Financial planning elements that have been influenced

Description of influence on financial planning

Explain why forests- and/or water-related risks and opportunities have not influenced your strategy and/or financial planning

Allstate has been investing in timberland and agriculture for the past decade but only recently has begun discussion of including these assets as part of its climate

investment initiative.

Water

Risks and opportunities related to this issue area taken into consideration in strategy and/or financial planning

Yes, we take these risks and opportunities into consideration in the organization’s strategy

Description of influence on organization’s strategy including own commitments

Forest and water assets are being viewed as part of Natural Capital and a core component of Allstate’s Climate Investment Strategy.

Financial planning elements that have been influenced

Description of influence on financial planning

Explain why forests- and/or water-related risks and opportunities have not influenced your strategy and/or financial planning

Allstate has been investing in timberland and agriculture for the past decade but only recently has begun discussion of including these assets as part of its climate

investment initiative.

FW-FS3.2

(FW-FS3.2) Has your organization conducted any scenario analysis to identify forests- and/or water-related outcomes?

Forests

Scenario analysis conducted to identify outcomes for this issue area

No, we have not conducted any scenario analysis to identify outcomes for this issue area, and we don’t plan to in the next two years

Type of scenario analysis used

Parameters, assumptions, analytical choices

Description of outcomes for this issue area

Explain how the outcomes identified using scenario analysis have influenced your strategy

Explain why your organization has not conducted scenario analysis for this issue area and any plans to address this in the future

These investments constitute a very small portion of Allstate’s investment portfolio

Water

Scenario analysis conducted to identify outcomes for this issue area

No, we have not conducted any scenario analysis to identify outcomes for this issue area, and we don’t plan to in the next two years

Type of scenario analysis used

Parameters, assumptions, analytical choices

Description of outcomes for this issue area

Explain how the outcomes identified using scenario analysis have influenced your strategy

Explain why your organization has not conducted scenario analysis for this issue area and any plans to address this in the future

These investments constitute a very small portion of Allstate’s investment portfolio

FW-FS3.3

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(FW-FS3.3) Has your organization set targets for deforestation free and/or water secure lending, investing and/or insuring?

Targets set Explain why your organization has not set targets for deforestation free and/or water secure lending, investing and/or insuring and any plans to

address this in the future

Forests No, and we do not plan to set targets in

the next two years

While forestland is a core part of Natural Capital, market returns in forestland have been lower than our hurdle rate; as a result, Allstate only considers investing

in forestland when the return opportunities exceed our investment hurdle rate.

Water

Security

Yes <Not Applicable>

FW-FS3.3a

(FW-FS3.3a) Provide details of your targets for deforestation free and/or water secure lending, investing and/or insuring.

Portfolio

Investing (Asset owner)

Issue area(s) the target covers

Water Security

Targets set

Targets for deforestation free/water secure investments

Sectors covered by the target

Food, beverage and tobacco

Real estate

Target metric

Total value (unit currency – as specified in C0.4)

Target value (as %)

Target value

50000000

Target year

2023

% of target achieved

Provide details of the target

Targeted $50M of water for which we completed our target in 1Q2023.

FW-FS3.4

(FW-FS3.4) Do any of your existing products and services enable clients to mitigate deforestation and/or water insecurity?

Existing products and services that enable clients to mitigate

deforestation and/or water insecurity

Explain why your organization does not offer products and services which enable clients to mitigate deforestation and/or

water insecurity and any plans to address this in the future

Forests Please select <Not Applicable>

Water Please select <Not Applicable>

FW-FS3.5

(FW-FS3.5) Does the policy framework for the portfolio activities of your organization include forests- and/or water-related requirements that clients/investees

need to meet?

Policy framework includes this issue area Explain why your organization does not include this issue area in the policy framework and any plans to address this in the future

Forests No, but we plan to include this issue area within the next

two years

Allstate is in the process of engaging with consultants to help measure certain KPIs for GHG emissions, carbon sequestration, and biodiversity for

our Natural Capital portfolio.

Water No, but we plan to include this issue area within the next

two years

Allstate is in the process of engaging with consultants to help measure certain KPIs for GHG emissions, carbon sequestration, and biodiversity for

our Natural Capital portfolio.

FW-FS4.1

CDP Page of 7368

(FW-FS4.1) Do you engage with your clients/investees on forests- and/or water-related issues?

We engage with clients/investees on this issue area Explain why you do not engage with your clients/investees on the issue area and any plans to address this in the future

Clients – Forests <Not Applicable> <Not Applicable>

Clients – Water <Not Applicable> <Not Applicable>

Investees – Forests Yes <Not Applicable>

Investees – Water Yes <Not Applicable>

FW-FS4.1b

(FW-FS4.1b) Give details of your forests- and/or water-related engagement strategy with your investees.

Issue area this engagement relates to

Forests

Type of engagement

Collaboration & innovation

Details of engagement

Collaborate with investees to develop their certification/traceability targets

Investing (asset manager) portfolio coverage of engagement

Investing (asset owner) portfolio coverage of engagement

Rationale for the coverage of your engagement

Engagement targeted at investees with increased forests-related opportunities

Impact of engagement, including measures of success

Issue area this engagement relates to

Water

Type of engagement

Collaboration & innovation

Details of engagement

Collaborate with investees to develop their water consumption/withdrawal/pollution reduction targets

Investing (asset manager) portfolio coverage of engagement

Investing (asset owner) portfolio coverage of engagement

Rationale for the coverage of your engagement

Engagement targeted at investees with increased water-related opportunities

Impact of engagement, including measures of success

Issue area this engagement relates to

Water

Type of engagement

Engagement & incentivization (changing investee behavior)

Details of engagement

Offer financial incentives for investees managing water-related issues

Encourage investees to engage in landscape/jurisdictional approaches to progress shared sustainability goals

Encourage investees to obtain third-party certifications to verify positive impacts on water security

Investing (asset manager) portfolio coverage of engagement

Investing (asset owner) portfolio coverage of engagement

Rationale for the coverage of your engagement

Engagement targeted at investees with increased water-related opportunities

Impact of engagement, including measures of success

FW-FS4.2

CDP Page of 7369

(FW-FS4.2) Does your organization exercise its voting rights as a shareholder on forests- and/or water-related issues?

We exercise voting rights

as a shareholder on this

issue area

Issues supported

in shareholder

resolutions

Give details of the impact your voting has had on this issue area Explain why your organization does not exercise

voting rights on this issue area and any plans to

address this in the future

Forests Yes Halting deforestation Allstate manages our forestland in a sustainable manner. Allstate has received third party

certification and post-harvest will replant within a 2-year timeframe.

Water Yes Improve water

efficiency

Elimination of

hazardous

substances

Allstate utilizes water in a sustainable way in its agriculture properties and ensure that

Allstate has employed the latest water saving technologies such as drip irrigation which

increases fertilizer efficiency.

FW-FS4.4

(FW-FS4.4) Does your organization engage in activities that could directly or indirectly influence policy, law, or regulation that may impact forests and/or water

security?

External engagement activities that could directly or

indirectly influence policy, law, or regulation that may

impact this issue area

Primary reason for not engaging in activities that could directly

or indirectly influence policy, law, or regulation that may impact

this issue area

Explain why you do not engage in activities that could directly

or indirectly influence policy, law, or regulation that may

impact this issue area

Forests Yes, we engage directly with policy makers <Not Applicable> <Not Applicable>

Water No, we have assessed our activities, and none could either

directly or indirectly influence policy, law, or regulation that may

impact this issue area

Other, please specify (We are focused on increasing homes' and

communities' resilience from floods and other natural disasters.)

We are focused on increasing homes' and communities' resilience

from floods and other natural disasters.

FW-FS4.4a

(FW-FS4.4a) On what policy, law, or regulation that may impact forests and/or water security have you been engaging directly with policy makers in the reporting

year?

Issue area(s)

Forests

Focus of policy, law or regulation that may impact this issue area

Forests stewardship practices and standards

Specify the policy, law or regulation on which your organization is engaging with policymaker

Warned of risks of fire over-suppression.

Policy, law or regulation coverage

National

Country/area/region the policy, law or regulation applies to

United States of America

Your organization’s position on the policy, law or regulation

Support with no exceptions

Description of engagement with policymakers

Allstate directly engaged with Congress.

Details of exceptions (if applicable) and your organization’s proposed alternative approach to the policy, law or regulation

Have you evaluated whether your engagement on this policy, law, or regulation is aligned with the Sustainable Development Goals?

No, we have not evaluated

FW-FS5.1

CDP Page of 7370

(FW-FS5.1) Does your organization measure its portfolio impact on forests and/or water security?

We measure our

portfolio impact on

this issue area

Explain how your organization measures its portfolio

impact on this issue area, including any metrics used

to quantify impact

Primary reason for not

measuring portfolio impact

on this issue area

Explain why your organization does not measure its portfolio impact

on this issue area and any plans to change this in the future

Banking – Impact

on Forests

Banking – Impact

on Water

Investing (Asset

manager) – Impact

on Forests

Investing (Asset

manager) – Impact

on Water

Investing (Asset

owner) – Impact on

Forests

Yes Our manager measures the amount of GHG emissions

and carbon sequestration related to the ownership of our

timberlands.

Investing (Asset

owner) – Impact on

Water

No, but we plan to in

the next two years

<Not Applicable> Important but not an immediate

priority

Allstate engages with a consultant to measure its GHG emissions, carbon

sequestration, and biodiversity at its wholly owned or controlled farmland

and water investments.

Insurance

underwriting –

Impact on Forests

Insurance

underwriting –

Impact on Water

FW-FS5.2

CDP Page of 7371

(FW-FS5.2) Does your organization provide finance or insurance to companies operating in any stages of the following forest risk commodity supply chains, and

are you able to report on the amount of finance/insurance provided?

Finance or insurance provided to companies

operating in the supply chain for this commodity

Amount of finance/insurance

provided will be reported

Explain why your organization is unable to report on the amount

of finance/insurance provided for this commodity

Lending to companies operating in the timber

products supply chain

Lending to companies operating in the palm oil

products supply chain

Lending to companies operating in the cattle

products supply chain

Lending to companies operating in the soy

supply chain

Lending to companies operating in the rubber

supply chain

Lending to companies operating in the cocoa

supply chain

Lending to companies operating in the coffee

supply chain

Investing (asset manager) to companies

operating in the timber products supply chain

Investing (asset manager) to companies

operating in the palm oil products supply chain

Investing (asset manager) to companies

operating in the cattle products supply chain

Investing (asset manager) to companies

operating in the soy supply chain

Investing (asset manager) to companies

operating in the rubber supply chain

Investing (asset manager) to companies

operating in the cocoa supply chain

Investing (asset manager) to companies

operating in the coffee supply chain

Investing (asset owner) to companies operating

in the timber products supply chain

No <Not Applicable> <Not Applicable>

Investing (asset owner) to companies operating

in the palm oil products supply chain

No <Not Applicable> <Not Applicable>

Investing (asset owner) to companies operating

in the cattle products supply chain

No <Not Applicable> <Not Applicable>

Investing (asset owner) to companies operating

in the soy supply chain

No <Not Applicable> <Not Applicable>

Investing (asset owner) to companies operating

in the rubber supply chain

No <Not Applicable> <Not Applicable>

Investing (asset owner) to companies operating

in the cocoa supply chain

No <Not Applicable> <Not Applicable>

Investing (asset owner) to companies operating

in the coffee supply chain

No <Not Applicable> <Not Applicable>

Insuring companies operating in the timber

products supply chain

Insuring companies operating in the palm oil

products supply chain

Insuring companies operating in the cattle

products supply chain

Insuring companies operating in the soy supply

chain

Insuring companies operating in the rubber

supply chain

Insuring companies operating in the cocoa

supply chain

Insuring companies operating in the coffee

supply chain

FW-FS6.1

(FW-FS6.1) Have you published information about your organization’s response to forests- and/or water-related issues for this reporting year in places other than

in your CDP response? If so, please attach the publication(s).

Submit your response

In which language are you submitting your response?

English

Please confirm how your response should be handled by CDP

I understand that my response will be shared with all requesting stakeholders Response permission

Please select your submission options Yes Public

CDP Page of 7372

Please confirm below

I have read and accept the applicable Terms

CDP Page of 7373