American Mutual Share Insurance Corporation

“The company has only one class of membership, that of a "participating credit union" as defined under both the company's code of regulations and its governing statute (ohio revised code section 1761.01(j)). A participating credit union remains in good standing (including its voting rights described below) as long as the participating credit union has paid in full its capital contribution or any applicable premiums, fees or assessments (orc section 1761.07(f)). Each participating credit union has one vote (orc section 1761.07(g)) and each participating credit union has the same privileges, benefits and obligation of participation as all other participating credit unions of the company (orc section 1761.07(e)). Under the company's code of regulations, an annual meeting of participating credit unions is held within 120 days of year end at which meeting each participating credit union may cast one vote in person or by proxy ballot, voting on directors of the company. Directors are elected for three-year terms and the terms are staggered so that approximately one-third of the board seats are up for election each year. The number of directors shall be set at no less than five (5) and not more than eleven (11) under the code of regulations. Participating credit unions may also have rights towards any net assets of the company in the event of a dissolution of the company, but only after settling any recorded, contingent and contractual liabilities, and all costs of dissolution (orc section 1761.10(i).”

“See form 990, part vi, section a, line 6 description in schedule o above.”

“The form 990 was provided to the company's board of directors as part of their advance management package for the board meeting that occurred on november 10, 2021 prior to filing the form and was reviewed in the presence of the ceo and cfo.”

“As part of its board policy and personnel policy, the company annually requires each board member, member of management and all other company employees to complete and sign its "annual acknowledgement of business conduct and ethics and disclosure of potential conflicts of interest" form. The completed forms are retained by the company and a summary of all the responses is submitted to the company's board for their review and consideration, which was last done on september 3, 2021. The policies referred to above and the form itself also require that the board member, management member, and/or employee inform the company promptly in writing of any change in the statement made in the signed forms. All new directors, management members and employees are required to also compete and sign the form upon their start date. Board members must abstain from discussion and voting on any matters in which they have reported a potential conflict of interest.”

“The compensation of the ceo is set by the executive compensation committee of the board ("compensation committee or "committee"), which meets as a committee of the whole board (excluding the ceo). The compensation committee reviews the ceo's performance annually and prepares a formal written review of their findings. The committee/board also periodically (generally every two years) obtains an independent salary study, last prepared as of july 31, 2020, by pay governance, which provides salary data for all officer positions and most other company positions. Once performed and available, the committee reviews the salary study and accepts it as part of its deliberations, which are documented, along with the committee's conclusions, in the compensation committee minutes. The salary study also provides data on bonuses for different positions, which is used by the compensation committee to arrive at the ceo's annual bonus award, if any. The ceo is given authority by the board, under the company's board policy, to set all other officer and employee salaries and bonus awards, and is subject to guidance provided within the independent salary study that is provided to the board. During periods in which the independent salary study is not obtained (such as for 2017 and 2019, the "off" cycle years), the company purchases specific salary information for its various positions. The review of the ceo's salary, bonus and other compensation matters was last performed by the compensation committee as of august 19, 2021 (for establishment of 2020 salary and 2019 bonus awards), prior to that, an annual review was performed by the committee on november 12, 2020 (for establishment of 2019 salary and 2018 bonus awards). The ceo performed an annual performance review for all officers and annual salary and bonus determinations in early 2020/december 2019 and early 2019/december 2018.”

“Quarterly financial statements and annual audited financial statements are made available to the company's members/insured policyholders at its website under the "policyholders" section. Any documents open for public inspection are also available upon request.”

“Net change in participating credit unions' capital contributions 34,504,498.”