ALL-H Allstate Corporation

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Plan Participants and Plan Administrator of

Allstate 401(k) Savings Plan

Northbrook, Illinois

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of the Allstate 401(k) Savings Plan (the “Plan”) as of December 31, 2020 and 2019, the related statements of changes in net assets available for benefits for the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020 and 2019, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Report on Supplemental Schedule and Supplementary Information

The supplemental schedule of assets (held at end of year) as of December 31, 2020 and the supplementary information by fund in the statements of net assets available for benefits and changes in net assets available for benefits have been subjected to audit procedures performed in conjunction with the audits of the Plan’s financial statements. The supplemental schedule and supplementary information by fund are the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental schedule and supplementary information reconcile to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule and supplementary information. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in compliance with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, such schedule and supplementary information are fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ DELOITTE & TOUCHE LLP

Chicago, Illinois

June 16, 2021

We have served as the auditor of the Plan since 1995.

						Member of Deloitte Touche Tohmatsu Limited

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ALLSTATE 401(k) SAVINGS PLAN
Statement of Net Assets Available for Benefits
As of December 31, 2020
($ in thousands)
						Supplementary Information
						Participant-Directed Funds						Allstate Stock Fund						ESOP Company Shares Unallocated						Total
Assets
Investments—at contract value:
Invesco Advisers Inc. Stable Value Fund						$	779,291					$	—					$	—					$	779,291
Investments—at fair value:
The Allstate Corporation common stock						—						656,295						—						656,295
Northern Trust collective short-term investment fund						—						2,253						—						2,253
Common collective trust funds:
SSGA U.S. Bond Index Non-Lending Series Fund – Class A						606,840						—						—						606,840
SSGA Real Return ex-Natural Resource Equities Non-Lending Series Fund – Class C						35,669						—						—						35,669
SSGA S&P 500 Index Non-Lending Series Fund – Class A						1,683,324						—						—						1,683,324
SSGA Global All Cap Equity ex U.S. Index Non-Lending Series Fund – Class A						674,914						—						—						674,914
SSGA Russell Small Cap Index Non-Lending Series Fund – Class A						449,894						—						—						449,894
SSGA S&P Mid Cap Index Non-Lending Series Fund – Class A						430,713						—						—						430,713
NTI Emerging Markets Fund						61,721						—						—						61,721
Northern Trust Focus Funds						871,954						—						—						871,954
Total investments—at fair value						4,815,029						658,548						—						5,473,577
Total investments						5,594,320						658,548						—						6,252,868
Receivables:
Dividends and interest						1						3,219						—						3,220
Employer contributions						101,686						5,242						—						106,928
Participant notes receivable						83,236						—						—						83,236
Total receivables						184,923						8,461						—						193,384
Other assets						7,634						—						—						7,634
Total assets						5,786,877						667,009						—						6,453,886
Liabilities
Payables:
Other						790						27						—						817
Total liabilities						790						27						—						817
Net assets available for benefits						$	5,786,087					$	666,982					$	—					$	6,453,069

See notes to financial statements.

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ALLSTATE 401(k) SAVINGS PLAN
Statement of Net Assets Available for Benefits
As of December 31, 2019
($ in thousands)
						Supplementary Information
						Participant- Directed Funds						Allstate Stock Fund						ESOP Company Shares Unallocated						Total
Assets
Investments—at contract value:
Invesco Advisers Inc. Stable Value Fund						$	699,788					$	—					$	—					$	699,788
Investments—at fair value:
The Allstate Corporation common stock						—						688,308						43,876						732,184
Northern Trust collective short-term investment fund						28,092						2,115						1						30,208
Common collective trust funds:
SSGA U.S. Bond Index Non-Lending Series Fund – Class A						502,736						—						—						502,736
SSGA Real Return ex-Natural Resource Equities Non-Lending Series Fund – Class C						23,419						—						—						23,419
SSGA S&P 500 Index Non-Lending Series Fund – Class A						1,497,817						—						—						1,497,817
SSGA Global All Cap Equity ex U.S. Index Non-Lending Series Fund – Class A						607,482						—						—						607,482
SSGA Russell Small Cap Index Non-Lending Series Fund – Class A						422,161						—						—						422,161
SSGA S&P Mid Cap Index Non-Lending Series Fund – Class A						389,000						—						—						389,000
NTI Emerging Markets Fund						57,763						—						—						57,763
Northern Trust Focus Funds						763,630						—						—						763,630
Total investments—at fair value						4,292,100						690,423						43,877						5,026,400
Total investments						4,991,888						690,423						43,877						5,726,188
Receivables:
Dividends and interest						47						3,050						196						3,293
Employer contributions						—						50,370						—						50,370
Participant notes receivable						87,822						—						—						87,822
Other						—						2,122						—						2,122
Interfund						—						47,225						—						47,225
Total receivables						87,869						102,767						196						190,832
Other assets
Total assets						8,495						—						—						8,495
						5,088,252						793,190						44,073						5,925,515
Liabilities
Payables:
Interfund						3,154						—						44,071						47,225
Other						671						25						—						696
Total liabilities						3,825						25						44,071						47,921
Net assets available for benefits						$	5,084,427					$	793,165					$	2					$	5,877,594

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ALLSTATE 401(k) SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2020
($ in thousands)
						Supplementary Information
						Participant-Directed Funds						Allstate Stock Funds						ESOP Company Shares Unallocated						Total
Additions
Net investment income (loss):
Net appreciation (depreciation) in fair value of investments						$	607,095					$	(23,347)					$	—					$	583,748
Interest						17,966						21						—						17,987
Dividends						—						13,835						—						13,835
Net investment income						625,061						(9,491)						—						615,570
Interest income on participant notes receivable						5,396						—						—						5,396
Contributions:
Participants						244,718						13,275						—						257,993
Employer - cash matched on participant contributions						100,323						3,584						(2)						103,905
Total contributions						345,041						16,859						(2)						361,898
Total additions						975,498						7,368						(2)						982,864
Deductions
Benefits paid to participants						544,982						48,195						—						593,177
Interest expense						—						—						—						—
Administrative expense						6,391						354						—						6,745
Total deductions						551,373						48,549						—						599,922
Net increase (decrease)						424,125						(41,181)						(2)						382,942
Interfund transfers						85,002						(85,002)						—						—
Transfer of assets due to merger of Esurance Insurance Services, Inc. 401(k) Plan (Note 1)						192,533						—						—						192,533
Net assets available for benefits
Beginning of year						5,084,427						793,165						2						5,877,594
End of year						$	5,786,087					$	666,982					$	—					$	6,453,069

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ALLSTATE 401(k) SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2019
($ in thousands)
						Supplementary Information
						Participant-Directed Funds						Allstate Stock Fund						ESOP Company Shares Unallocated						Total
Additions
Net investment income (loss):
Net appreciation in fair value of investments						$	822,318					$	211,593					$	11,635					$	1,045,546
Interest						19,100						76						11						19,187
Dividends						(2)						13,769						782						14,549
Net investment Income						841,416						225,438						12,428						1,079,282
Interest income on participant notes receivable						4,623						—						—						4,623
Contributions:
Participants						201,368						13,512						—						214,880
Employer–cash matched on participant contributions						2,312						48,058						1,190						51,560
Total contributions						203,680						61,570						1,190						266,440
Allocation of company shares - shares matched on participant deposits at fair value						—						43,876						(43,876)						—
Total additions						1,049,719						330,884						(30,258)						1,350,345
Deductions
Benefits paid to participants						390,973						59,589						—						450,562
Interest expense						—						—						146						146
Administrative expense						6,280						411						1						6,692
Total deductions						397,253						60,000						147						457,400
Net increase (decrease)						652,466						270,884						(30,405)						892,945
Interfund transfers						136,572						(136,377)						(195)						—
Transfer of assets due to merger of Answer Financial 401(k) Plan (Note 1)						28,092						—						—						28,092
Net assets available for benefits
Beginning of year						4,267,297						658,658						30,602						4,956,557
End of year						$	5,084,427					$	793,165					$	2					$	5,877,594

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Notes to Financial Statements

1.Description of Plan

The following description of the Allstate 401(k) Savings Plan (the “Plan”), sponsored by The Allstate Corporation (the “Company”), provides only general information. Participants should refer to the plan document for a more complete description of the Plan’s provisions.

General — Regular full-time and regular part-time employees of subsidiaries of the Company, with the exception of those employed by the Company’s international subsidiaries, InfoArmor, Inc., and SquareTrade Inc., are eligible to participate in the Plan. There is no waiting period to enroll in the Plan, provided employees are at least 18 years old.

The Plan is a defined contribution plan consisting of a profit sharing and stock bonus plan containing a cash or deferred arrangement which is intended to meet the requirements of Sections 401(a) and 401(k) of the Internal Revenue Code of 1986 (the “Code”). The stock bonus portion of the Plan includes a nonleveraged employee stock ownership plan (“ESOP”) which is intended to meet the requirements of Section 409 and Section 4975(e)(7) of the Code. The stock bonus portion of the Plan previously included a leveraged ESOP comprised of Allstate stock. The ESOP loan balance was repaid on December 31, 2019. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”).

On December 31, 2019, the Answer Financial 401(k) Plan, a defined contribution plan sponsored by Answer Financial, Inc., a subsidiary of the Company, was merged with and into the Plan. As a result, all participants in the Answer Financial 401(k) Plan became participants in the Plan. In conjunction with the merger, net assets in the amount of $28,092,134 from the Answer Financial 401(k) Plan were transferred into the Plan.

On July 10, 2020, the Esurance Insurance Services, Inc. ("Esurance") 401(k) Plan, a defined contribution plan sponsored by Esurance, a subsidiary of the Company, was merged with and into the Plan. As a result, all participants in the Esurance 401(k) Plan became participants in the Plan. In conjunction with the merger, net assets in the amount of $192,532,732 from the Esurance 401(k) Plan were transferred into the Plan.

On December 17, 2020, the Plan's 401(k) Committee approved a resolution to permit National General Holdings Corp. (together with its affiliates and subsidiaries) to adopt the Plan, effective on January 4, 2021.

Administration — The Plan is administered by the Administrative Committee. Investment transactions are authorized by the Plan’s Investment Committee. Members of the Administrative and Investment Committees are appointed by the 401(k) Committee. The 401(k) Committee is comprised of various Allstate Insurance Company officers as described in the Plan.

Trustee of the Plan — The Northern Trust Company holds Plan assets as trustee under the Allstate 401(k) Savings Plan Trust.

Contributions — Each year, employees may contribute up to 50% of eligible annual compensation through a combination of pre-tax, Roth 401(k), and after-tax contributions, subject to Internal Revenue Code limitations. All eligible employees hired or rehired are automatically enrolled in the Plan at a 5% pre-tax contribution rate, unless the participant declines enrollment or changes the contribution rate within the first 45 days of eligibility. Participants age 50 or older have the option to make additional pre-tax or Roth 401(k) contributions (“Catch-Up” contributions). Employees may also roll over pre-tax or Roth 401(k) amounts representing distributions from other qualified defined benefit or defined contribution plans. The Company match for a plan year is 80 cents for every pre-tax and/or Roth 401(k) dollar that a participant contributes to the Plan during the plan year, up to 5% of eligible compensation. Beginning with the 2020 plan year, employer contributions are now invested in accordance with participant elections. Prior to the 2020 plan year, all employer contributions were invested in the Allstate Stock Fund.

Participant Accounts — Individual accounts are maintained for each Plan participant. Each participant’s account is credited with the participant’s contribution, allocations of the Company’s contribution and investment earnings and losses, and is charged with an allocation of administrative expenses. Accounts may increase by rollovers and decrease by rollovers and withdrawals. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

Vesting — Participants hired prior to March 1, 2009 were immediately vested in their contributions and the Company’s contributions plus earnings thereon. Employees hired on or after March 1, 2009 are immediately vested in their contributions and will fully vest in the Company’s contributions after three years of vesting service.

Investment Options — Upon enrollment in the Plan, a participant may direct employee contributions to any or all of the Plan's investment options. If a participant does not make an investment election, employee contributions will be invested in the Target

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Retirement Date Fund that corresponds with the participant’s birth date and assumes a retirement date and account distribution at age 65. Participants may change their investment elections at any time, with limited trading restrictions, but without redemption restrictions. The funds transact at net asset value on a daily basis.

Participant Notes Receivable — Participants may borrow from their employee contribution and rollover contribution accounts. The loan amount must be at least $1,000 up to a maximum equal to the lesser of: (i) 50% of their vested account balance, or (ii) $50,000, and will be taken from the participant’s accounts in the following order: pre-tax, Roth 401(k), rollover, and after-tax. Loan transactions are treated as a proportional transfer from/to the investment funds and to/from the loan fund. Loan terms range from 6 to 48 months for a general-purpose loan and 49 to 180 months for a primary residence loan. Loans are secured by the participant’s account balance and bear interest at the prime rate, plus one percent, as published in the Wall Street Journal in effect on the 15th day of the month prior to the first day of the quarter in which the loan is requested. Generally, principal and interest are paid by participants ratably through payroll deductions.

Employee Stock Ownership Plan (ESOP) — The Company had a leveraged ESOP. As the Plan made each payment of principal and interest, a proportional percentage of unallocated shares were allocated to eligible participants’ accounts in accordance with applicable regulations under the Code. The remaining loan balance of $1,835,096 matured and was repaid by the Plan on December 31, 2019.

Payment of Benefits — Upon termination of service, a participant is entitled to a complete withdrawal of his or her vested account balance, net of any outstanding loans. Partial withdrawals are also permitted under the Plan subject to restrictions.  Participants may leave their account balance in the plan after termination, if the balance is greater than $1,000; however, after the age of seventy and a half, required minimum distributions must be withdrawn. If the value of a vested account balance on or after a participant’s termination date does not exceed $1,000, the participant will receive an automatic lump sum distribution of their vested account balance.

Forfeited Accounts — As of December 31, 2020 and 2019, forfeited nonvested accounts totaled $3,099,484 and $3,153,761 respectively, and are reported in other assets. These accounts will be used to reduce future employer contributions. During the years ended December 31, 2020 and 2019, employer contributions were reduced by $3,153,761 and $2,722,775, respectively, due to forfeited nonvested accounts.

2.Summary of Accounting Policies

Basis of Accounting — The Plan’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Subsequent events were evaluated through June 16, 2021, the date the financial statements were issued.

Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Risks and Uncertainties — The Plan utilizes various types of investments, including institutional index funds, a stable value fund and common stock. These investments are subject to market risk, the risk that losses will be incurred due to adverse changes in creditworthiness, equity prices and interest rates. It is reasonably possible that changes in the values of investments will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.

The Novel Coronavirus Pandemic or COVID-19 (“Coronavirus”) has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which have included the implementation of travel restrictions, government-imposed shelter-in-place orders, quarantine periods, social distancing, and restrictions on large gatherings, have caused material disruption to businesses globally, resulting in increased unemployment, a recession and increased economic uncertainty. These measures have moderated in 2021 as vaccines have become more widely available in the United States and Canada. The impact of the Coronavirus on the Plan’s operations is highly uncertain and cannot be predicted at this time. If the financial markets or the overall economy are impacted for an extended period, the future investment results of the Plan may be materially adversely affected.

On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act provided temporary relief for retirement plan sponsors and their participants with respect to employer contributions, distributions and participant loans. The provisions of the CARES Act are effective and operationalized immediately, prior to amending the plan document. The 401(k) Committee has approved the implementation of certain relief provisions included in the CARES Act, including suspending required loan repayments due between March 27, 2020 and December 31, 2020 by twelve months, allowing Coronavirus-related distributions up to $100,000 to be taken without an early-withdrawal penalty, and waiving required minimum distributions in 2020. The future effects of these provisions on the Plan’s net assets available for

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benefits and changes in net assets available for benefits are uncertain.  The Plan will formally be amended by the end of the 2022 plan year.

Investment Valuation and Income Recognition — Plan investments are stated at fair value except for fully benefit-responsive investment contracts ("FBRIC"), which are reported at contract value. Shares of institutional index funds are valued at prices that represent the net asset value of shares held by the Plan at year-end and the fair value of the underlying investments. Common stock held in the Allstate Stock Fund is valued using market price. The Stable Value Fund is a FBRIC and stated at contract value, which is the amount Plan participants would receive if they were to initiate permitted transactions under the terms of the Plan.

Purchases and sales of securities are recorded on a trade-date plus one basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

Administrative Expenses — Investment management fees, recordkeeping fees, and trustee fees along with other administrative expenses charged to the Plan for investments in each of the Plan’s investment options are deducted from income earned on a daily basis and are not separately reflected. Consequently, fees and expenses are reflected as a reduction of investment return for such investments.

Benefits Paid to Participants and Participant Notes Receivable — Benefits paid to participants and participant notes receivable are recorded upon distribution. Amounts allocated to accounts of persons who have elected to withdraw from the Plan, but have not yet been paid as of year end are included in other assets on the Statements of Net Assets Available for Benefits. Participant notes receivable are measured at their unpaid principal balance plus any accrued but unpaid interest.

3.ESOP Loan

Prior to 2020, the Plan had a leveraged ESOP to fund a portion of the anticipated contribution. The remaining loan balance matured and was repaid on December 31, 2019. All shares held by the ESOP have been released.

The following table presents additional information, as of December 31, 2019, for the Plan’s investment in The Allstate Corporation common stock held in the Allstate Stock Fund and the ESOP Company Shares.

($ in thousands)									2019
												Allstate Stock Fund						ESOP Company Shares
Number of shares												6,121,016						390,181
Cost												$	238,374					$	2,780
Fair value												$	688,308					$	43,876

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($ in thousands)						Level 1						Level 2						Total
Assets
The Allstate Corporation Common Stock						$	656,295					$	—					$	656,295
Collective short-term investment fund						—						2,253						2,253
Total assets in the fair value hierarchy						$	656,295					$	2,253					658,548
Assets measured at net asset value (1)																		4,815,029
Total assets at fair value																		$	5,473,577

($ in thousands)						Level 1						Level 2						Total
Assets
The Allstate Corporation Common Stock						$	732,184					$	—					$	732,184
Collective short-term investment fund						—						30,208						30,208
Total assets in the fair value hierarchy						$	732,184					$	30,208					762,392
Assets measured at net asset value (1)																		4,264,008
Total assets at fair value																		$	5,026,400

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($ in thousands)			2020						2019
Total net investment income per the financial statements			$	615,486					$	1,079,280
Interest income on participant notes receivable			5,396						4,623
Total net investment income per the Form 5500			$	620,882					$	1,083,903

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SUPPLEMENTAL SCHEDULE

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ALLSTATE 401(k) SAVINGS PLAN

36-3871531 Plan: 001

FORM 5500 — SCHEDULE H, PART IV, LINE 4i —

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

As of December 31, 2020

(a)

(b) Identity of issue, borrower, lessor, or similar party

(c) Description of investment, including maturity date, rate of interest, collateral, par, or maturity value

(d) Cost

(e) Current Value

Invesco Advisers Stable Value Fund:

*

The Northern Trust Collective Short Term

25,507,514 shares

**

$

25,507,514

Investment Fund No. 22-19589

Transamerica:

Transamerica No. MDA-00714TR

IGT Invesco A+ Int Common Collective Trust

1,739,176 shares

**

3,981,513

IGT Jennison A+ Int Common Collective Trust

2,934,126 shares

**

5,978,159

IGT Loomis A+ Core Common Collective Trust

7,197,492 shares

**

14,560,361

IGT Loomis A+ Intermediate Common Collective Trust

534,762 shares

**

995,183

IGT Dodge & Cox A+ Core Common Collective Trust

7,822,537 shares

**

14,591,808

IGT Invesco A+ Core Common Collective Trust

5,321,638 shares

**

11,266,839

IGT Invesco HQ STBF Common Collective Trust

61,942,290 shares

**

68,932,416

IGT PIMCO A+ Core Common Collective Trust

5,289,062 shares

**

11,273,599

IGT PIMCO A+ Intermediate Common Collective Trust

337,712 shares

**

995,897

Adjustment from fair value to contract value for interest in fully benefit-responsive contracts

(6,372,497)

Pacific Life Insurance:

Pacific Life Insurance No. G-26930.01.0001

IGT Invesco HQ STBF Common Collective Trust

69,489,341 shares

**

77,331,143

IGT Dodge & Cox A+ Core Common Collective Trust

5,833,801 shares

**

10,882,111

IGT Loomis A+ Core Common Collective Trust

5,367,660 shares

**

10,858,652

IGT PIMCO A+ Core Common Collective Trust

5,104,540 shares

**

10,880,291

IGT Invesco A+ Core Common Collective Trust

5,135,977 shares

**

10,873,761

Adjustment from fair value to contract value for interest in fully benefit-responsive contracts

(4,957,739)

Prudential Insurance Company:

Prudential Insurance Company No. GA-62294

IGT Invesco A+ Core Common Collective Trust

3,128,837 shares

**

6,624,296

IGT Invesco HQ STBF Common Collective Trust

75,480,742 shares

**

83,998,668

IGT Jennison A+ Int G/C Common Collective Trust

13,649,065 shares

**

27,809,397

IGT PIMCO A+ Core Common Collective Trust

3,109,690 shares

**

6,628,283

Adjustment from fair value to contract value for interest in fully benefit-responsive contracts

(5,015,338)

(Continued)

ALLSTATE 401(k) SAVINGS PLAN

36-3871531 Plan: 001

FORM 5500 — SCHEDULE H, PART IV, LINE 4i —

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

As of December 31, 2020

(a)

(b) Identity of issue, borrower, lessor, or similar party

(c) Description of investment, including maturity date, rate of interest, collateral, par, or maturity value

(d) Cost

(e) Current Value

Invesco Advisers Stable Value Fund continued:

State Street Bank:

State Street Bank No. 105027

IGT Loomis A+ Int G/C Common Collective Trust

19,465,970 shares

**

$

36,225,878

IGT Invesco A+ Int G/C Common Collective Trust

15,827,035 shares

**

36,232,990

IGT PIMCO A+ Int G/C Common Collective Trust

12,293,157 shares

**

36,251,917

IGT Invesco HQ STBF Common Collective Trust

10,840,263 shares

**

12,063,576

Adjustment from fair value to contract value for interest in fully benefit-responsive contracts

(6,172,402)

Voya Retirement & Annuity:

Voya Retirement & Annuity No. 60256

IGT Invesco HQ STBF Common Collective Trust

57,286,471 shares

**

63,751,192

IGT Loomis A+ Int Common Collective Trust

2,198,075 shares

**

4,090,585

IGT Jennison A+ Int Common Collective Trust

24,120,828 shares

**

49,145,173

IGT PIMCO A+ Int Common Collective Trust

1,388,130 shares

**

4,093,527

IGT Invesco A+ Int Common Collective Trust

18,586,578 shares

**

42,550,439

Adjustment from fair value to contract value for interest in fully benefit-responsive contracts

(7,447,074)

Metropolitan Tower Life Insurance:

Metropolitan Tower Life No. 38024

IGT Invesco HQ STBF Common Collective Trust

62,534,867 shares

**

69,591,864

IGT Invesco A+ Core Common Collective Trust

5,975,892 shares

**

12,652,009

IGT Loomis A+ Core Common Collective Trust

7,806,833 shares

**

15,793,043

IGT PIMCO A+ Core Common Collective Trust

5,939,310 shares

**

12,659,599

IGT Dodge & Cox A+ Core Common Collective Trust

8,484,786 shares

**

15,827,138

Adjustment from fair value to contract value for interest in fully benefit-responsive contracts

(5,642,966)

Total Invesco Advisers Stable Value Fund

779,290,805

*

The Allstate Corporation common stock

5,970,121 shares

656,295,402

(Continued)

- 12 -

---

ALLSTATE 401(k) SAVINGS PLAN

36-3871531 Plan: 001

FORM 5500 — SCHEDULE H, PART IV, LINE 4i —

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

As of December 31, 2020

(a)

(b) Identity of issue, borrower, lessor, or similar party

(c) Description of investment, including maturity date, rate of interest, collateral, par, or maturity value

(d) Cost

(e) Current Value

State Street Global Advisors (SSGA):

SSgA U.S. Bond Index Non-Lending Series Fund - Class A

37,204,326 shares

**

$

606,839,756

SSgA Real Return ex-Natural Resource Equities Non-Lending Fund – Class C

2,682,729 shares

**

35,669,564

SSgA S&P 500 Index Non-Lending Series Fund - Class A

21,658,263 shares

**

1,683,323,503

SSgA Global All Cap Equity ex U.S. Index Non-Lending Series Fund - Class A

38,765,900 shares

**

674,914,318

SSgA Russell Small Cap Index Non-Lending Series Fund - Class A

6,601,140 shares

**

449,894,084

SSgA S&P Mid-Cap Index Non-Lending Series Fund - Class A

4,290,184 shares

**

430,713,052

Total State Street Global Advisors

3,881,354,277

*

Northern Trust Investments (NTI):

The Northern Trust Collective Short Term

2,252,870 shares

**

2,252,870

Investment Fund No. 22-44460, No. 22-41639, and No. 22-18490

NTI Emerging Markets Fund

267,608 shares

**

61,721,167

Northern Trust Focus Income Fund

79,083 shares

**

13,849,064

Northern Trust Focus 2010 Fund

33,057 shares

**

5,923,755

Northern Trust Focus 2015 Fund

136,629 shares

**

24,978,565

Northern Trust Focus 2020 Fund

481,786 shares

**

90,166,196

Northern Trust Focus 2025 Fund

850,050 shares

**

165,649,214

Northern Trust Focus 2030 Fund

671,936 shares

**

138,855,674

Northern Trust Focus 2035 Fund

525,787 shares

**

114,747,746

Northern Trust Focus 2040 Fund

443,322 shares

**

98,475,085

Northern Trust Focus 2045 Fund

345,263 shares

**

76,624,258

Northern Trust Focus 2050 Fund

275,203 shares

**

60,899,634

Northern Trust Focus 2055 Fund

284,718 shares

**

62,925,565

Northern Trust Focus 2060 Fund

122,405 shares

**

18,858,863

Total Northern Trust Investments

935,927,656

Rates of interest from 3.25% to

*

Participant loans

8.25% maturing through 2049

**

83,236,177

**

Total

$

6,336,104,317

*

Permitted party in interest.

**

Cost information not provided as investments are participant-directed.

(Concluded)

- 13 -

---

SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

			ALLSTATE 401(k) SAVINGS PLAN
			By
						Livia W. Paylo
						Plan Administrator
June 16, 2021

                                

- 14 -

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