Travelers joins trade associations and similar organizations to further Travelers’ commercial interests, educate its
employees or enhance its ability to serve customers. Travelers’ membership in a particular trade association does
not suggest that it agrees with such association’s position on every issue, nor does it suggest that Travelers
joined such association primarily due to its lobbying activities. Importantly, trade associations operate on an
independent basis. Disclosure of Travelers’ membership in, or other support of, trade associations may not – and
often does not – represent Travelers’ lobbying activity or policy positions.