Allstate 401(k) Savings Plan

1 ALLSTATE1 JANUARY 2022 Allstate 401(k) Savings PlanThis Summary Plan Description (SPD) describes the principal provisions ofthe Allstate 401(k) Savings Plan (the Plan ), effective as of January 1, 2022,unless otherwise document dated January 1, 2022, constitutes part of a prospectus covering securities that have been registered under theSecurities Act of 401(K) Savings PLANALLSTATE2 JANUARY 2022 The Plan covers Regular Full-Time and Part-Time Employees of Allstate Insurance Company and other ParticipatingEmployers in The Allstate Corporation controlled group of companies. The terms Company or Allstate as used inthis document mean The Allstate Corporation. Employer or Participating Employer means Allstate InsuranceCompany and any related employers that have adopted the Plan for their employees.

2 As of January 1, 2022, theParticipating Employers are Allstate Insurance Company, Answer financial Inc., National General Management Corp.,Velapoint LLC, Direct General Insurance Company and Syndeste Plan consists of a profit sharing and stock bonus plan containing a cash or deferred arrangement intended to meet therequirements of sections 401(a) and 401(k) of the Internal Revenue Code of 1986, as amended (the Code ). EffectiveJanuary 1, 2022, the Plan is intended to satisfy the nondiscrimination requirements applicable under Section 401(k) ofthe Code by implementing a qualified automatic contribution arrangement described in Section 401(k)(13) of the stock bonus portion includes an employee stock ownership plan ( ESOP ) as defined in the Code and EmployeeRetirement Income Security Act of 1974, as amended ( ERISA ).

3 The stock bonus and ESOP portion of the Plan isdesigned to invest primarily in Company shares which constitute qualifying employer securities under ERISA and Plan is administered by an Administrative Committee appointed by, and serving at the pleasure of, the 401(k) Committee of the Plan. The members of the Administrative Committee are employees of Allstate Insurance Secretary of the Administrative Committee is the Plan Administrator as defined in ERISA. The AdministrativeCommittee has the discretion to establish and carry out all rules necessary to operate the Plan and to make decisionsregarding the interpretation or application of Plan provisions, including the discretion to make factual determinations andremedy any possible ambiguities, inconsistencies or omissions. Any decision made by the Administrative Committee isfinal and binding on all parties.

4 The Administrative Committee has comprehensive authority, including: adoption of rules and retention of assistance for Plan administration; maintenance of participants Accounts; conditions for Plan enrollment, investment elections, and beneficiary designations; and decisions on claims for of the Plan are held by The Northern Trust Company, as Trustee under the Allstate 401(k) Savings Plan Trust (the Trust ).This Summary Plan Description is designed to summarize the Plan in non-technical terms. Should there be anyinconsistency between this Summary Plan Description and the Plan s official plan document, the terms of the plandocument will govern. The Plan reserves the right to correct any errors or mistakes of fact, and make adjustments inbenefit amounts paid, unpaid, or estimated in order to remain in compliance with plan documents.

5 You may examine thecomplete plan document on which this Summary Plan Description is based for a more detailed description of the Plan sprovisions and Allstate expects to continue the Allstate 401(k) Savings Plan, The Allstate Corporation as Plan Sponsor reservesthe right to change or amend the Plan at any time for any reason, and the Board of Directors of Allstate may terminate thePlan at any time and for any reason. Participation in the Plan does not constitute a contract or guarantee of 401(K) Savings PLANALLSTATE3 JANUARY 2022 Table of ContentsSee PageHighlights .. 5An Easy Way to Save .. 5 Eligibility and Participation .. 5 Vesting .. 6 Vesting Service .. 7 Breaks in Service .. 7 Transfer of Employment to a Non-Participating Employer .. 7 Forfeiture of Company Contribution Account.

6 7 Reemployment .. 7 Leaves of Absence .. 8 Special Military Duty and Military Leave of Absence .. 8 Maternity or Paternity Leave .. 9 How to Enroll .. 9 Automatic Enrollment .. 9 Participant Deposits .. 10 Pre-Tax Deposits 401(k) .. 10 Roth 401(k) Deposits .. 10 Catch-Up Deposits .. 11 Income Taxes on Pre-Tax and Catch-Up Deposits .. 11 After-Tax Deposits .. 11 Limits on Deposits and Contributions .. 12 Participant Deposit Comparisons .. 13 How Taxes Impact Your Savings .. 13 Annual Increase Option .. 14 Starting, Changing or Stopping Your Deposits .. 14 Rollover Deposits to the Plan .. 14In-Plan Roth Conversions .. 15 Eligible Compensation .. 15 Your Plan Accounts .. 16 Company Contributions .. 17 Company Contributions Transfer .. 17 Investment of Your Accounts .. 18 Your Investment Responsibilities.

7 18 Investment Options .. 19 Voting and Tendering of Allstate Shares .. 20 How Your Allstate Stock Fund Dividends Are Distributed to You .. 20 Investment Fund Performance and Expense Information .. 21 Investment Fund Performance .. 21 Expenses of Administering the Plan .. 21 Investment Fund Elections / Move Money Between 22 Investment Elections Future Deposits .. 22 Trading Restrictions .. 22 Automatic Rebalancing .. 23 Create a New Investment Mix .. 23 Move Money Between Funds .. 23 Impact of Reallocations and Transfers on Cost Basis in the Allstate Stock Fund .. 23 The Importance of Diversifying Your Retirement Savings .. 24 Restrictions on Transactions in Allstate Stock .. 24 Availability of Your Account Balances .. 24 While You Are Employed .. 24 Loans .. 25In-Service Withdrawals .. 27 After Employment Ends.

8 29 Allstate 401(K) Savings PLANALLSTATE4 JANUARY 2022 Distribution of Your Vested Accounts .. 30 Mandatory Distributions .. 30 COVID-19 financial Relief .. 31 Eligibility - COVID-19 financial Relief .. 31 Distribution for Coronavirus-Related Reasons .. 31 Loan Repayment Extension .. 32 Choosing Your Beneficiaries .. 32 Distributions to Your Beneficiaries .. 34 Taxation of Contributions and Benefits .. 35 Assignment of Benefits and Qualified Domestic Relations Orders .. 36 Plan Amendment and 36 The Claim Review Procedure .. 37 Your ERISA Rights .. 38 Receive Information About Your Plan and Benefits .. 38 Prudent Actions by Plan 38 Enforce Your Rights .. 38 Assistance with Your Questions .. 39 Other Information .. 39 Plan Document and Trust Agreement .. 39 Your Contact Information .. 39 Sharing of Participant Data.

9 39 Top-Heavy Rules .. 39 ERISA .. 39 Legal 40 Identifying Information .. 40 Allstate 401(K) Savings PLANALLSTATE5 JANUARY 2022 HIGHLIGHTSThe Plan provides a means to accumulate wealth through regular Savings and is a source of retirement income. Togetherwith your pension benefit, Social Security and personal Savings , the Plan is a part of your total retirement Easy Way to SaveThe Plan makes it easier to meet your personal Savings goals by giving you: The opportunity to save part of your pay before income taxes are calculated and for those investments to grow tax-deferred; The ability to make Roth deposits (which grow potentially tax-free) and convert existing Pre-Tax or After-Taxbalances to a Roth Account via an In-Plan Conversion; The ability to choose when and how much you save; A range of investment options; Company Contributions; Convenient payroll deductions; The ability to transfer your Plan balances, including Company Contributions, among the Plan s investment options.

10 And Access to an independent investment advisory service provided by Alight financial Advisors, LLC (AFA).ELIGIBILITY AND PARTICIPATIONIf you are an employee of a Participating Employer, you are eligible to become a participant in the Plan if you are at least18 years old and you are a: Regular Full-Time Employee who is scheduled to work a full work week; or Part-Time Employee who regularly is scheduled to work less than a full work week and who is classified on thehuman resources system as a part-time employee or regular part-time employee ; and you are not an ineligible individual described employee who is eligible to participate in the Plan is referred to as an Eligible Individuals. The following individuals are not eligible to participate in the Plan: Independent contractors, regardless of whether such individuals are classified as common law or statutoryemployees of an Employer for tax or any other purposes.