As long-term Walgreens Boots Alliance shareholders, we support transparency and accountability in corporate electoral spending. Unless a company knows which candidates and political causes its funds ultimately support, it cannot assure shareholders, employees, or other stakeholders that its spending aligns with core values, business objectives, and policy positions. Misaligned or non-transparent funding creates reputational risk that can harm shareholder value. It can also place a company in legal jeopardy. Without the information requested by this resolution, none of the board, senior management, or shareowners can assess the risks associated with political spending. Walgreens Boots Alliance's reputation, value, and bottom line can be adversely impacted by spending that is conducted blindly. The risk is especially serious when giving to trade associations, Super PACs, 527 committees, and social welfare organizations – groups that routinely pass money to or spend on behalf of candidates and political causes that a company might not otherwise wish to support. The Conference Board’s 2021 Under a Microscope1 report details these risks, discusses how to effectively manage them, and recommends the process suggested in this proposal. Media coverage has amplified the risk a company’s blind spending can pose. Company spending has been tied to attacks on voting rights and efforts to deny climate change – associations many companies wish to avoid. Contributions to third-party groups can also embroil companies in scandal. For instance, FirstEnergy Corp was tainted when it contributed to a political advocacy organization that later pled guilty to Ohio’s largest bribery scheme. FirstEnergy’s stock price dropped and the scandal led to the resignation of several top officers. Walgreens Boots Alliance has not disclosed a policy on payments to 501(c)(4) social welfare organizations. It is unknown whether Walgreens Boots Alliance has contributed to such organizations, and if so, whether its board received sufficient information from these groups to assess (a) the potential risks for the Company and stockholders, and (b) whether the groups’ expenditures aligned with Walgreens Boots Alliances core values, business objectives, and policy positions. Mandating reports from third-party groups receiving Company political money would demonstrate Walgreens Boots Alliance’s commitment to robust risk management and responsible civic engagement. We urge a vote FOR the commonsense risk management measures contained in Proposal [4*].