Alleghany 2021 Full Year Performance Highlights

Investment Return Components (Pre-Tax) ($ in millions) $1,002 $1,719 $485 $1,306 $129 $731 $710 $682 $507 $307 $70 $307 $636 $25 $176 $465 $10 $211 $28 $80 $90 $18 $460 $439 $439 $451 $501 $550 ($5) ($20) ($185) ($229) ($158) ($257) 2014 2015 2016 $491 $540 ($5) ($26) ($111) ($386) 2017 2018 2019 2020 2021 ■Change in unrealized gains (losses) - fixed income ■Change in the fair value of equity securities ■Net realized gains (losses), net of change in allowance for credit losses on available for sale securities ■Net investment income 33 33

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