Item 15. Exhibit and Financial Statement Schedules

a) Financial Statements – information contained in Part II, Item 8, of this report, Page 124 to Page 181

b) Exhibits – see Index of Exhibits, Page 199

c) Financial Statement Schedules

Schedule I – Summary of Investments – Other Than Investments in Related Parties, Page 188

Schedule II – Condensed Financial Statements of Parent Company, Page 190

Schedule III – Supplementary Insurance Information, Page 193

Schedule IV – Reinsurance, Page 195

Schedule V – Valuation and Qualifying Accounts, Page 196

Schedule VI – Supplementary Information Concerning Property Casualty Insurance Operations, Page 197

Cincinnati Financial Corporation - 2020 10-K - Page 187

Schedule I

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2020
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Fixed maturities:
States, municipalities and political subdivisions:
The Cincinnati Insurance Company						$	3,346					$	3,638					$	3,638
The Cincinnati Casualty Company						219						238						238
The Cincinnati Indemnity Company						48						52						52
The Cincinnati Life Insurance Company						357						387						387
The Cincinnati Specialty Underwriters Insurance Company						580						629						629
CSU Producer Resources Inc.						1						1						1
Cincinnati Financial Corporation						53						52						52
Total						4,604						4,997						4,997
United States government:
The Cincinnati Insurance Company						65						70						70
The Cincinnati Casualty Company						1						1						1
The Cincinnati Indemnity Company						1						1						1
Cincinnati Global Underwriting Ltd.						48						48						48
Total						115						120						120
Foreign government:
The Cincinnati Insurance Company						10						10						10
Cincinnati Global Underwriting Ltd.						19						19						19
Total						29						29						29
Government-sponsored enterprises:
Cincinnati Global Underwriting Ltd.						1						1						1
Cincinnati Financial Corporation						11						11						11
Total						12						12						12
All other corporate bonds:
The Cincinnati Insurance Company						2,964						3,211						3,211
The Cincinnati Casualty Company						103						110						110
The Cincinnati Indemnity Company						30						33						33
The Cincinnati Life Insurance Company						3,192						3,540						3,540
The Cincinnati Specialty Underwriters Insurance Company						189						211						211
CSU Producer Resources Inc.						1						1						1
Cincinnati Global Underwriting Ltd.						68						69						69
Cincinnati Financial Corporation						5						5						5
Total						6,552						7,180						7,180
Total fixed maturities						$	11,312					$	12,338					$	12,338

Cincinnati Financial Corporation - 2020 10-K - Page 188

Schedule I (continued)

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2020
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Equity securities:
Common equities:
The Cincinnati Insurance Company						$	1,846					$	4,423					$	4,423
The Cincinnati Casualty Company						56						146						146
The Cincinnati Indemnity Company						17						36						36
The Cincinnati Specialty Underwriters Insurance Company						96						217						217
CSU Producer Resources Inc.						19						33						33
Cincinnati Financial Corporation						1,606						3,686						3,686
Total						3,640						8,541						8,541
Nonredeemable preferred equities:
The Cincinnati Insurance Company						274						299						299
The Cincinnati Life Insurance Company						12						15						15
Cincinnati Financial Corporation						1						1						1
Total						287						315						315
Total equity securities						$	3,927					$	8,856					$	8,856
Other invested assets:
Policy loans:
The Cincinnati Life Insurance Company						$	33					—						$	33
Deposits at Lloyd's:
Cincinnati Global Underwriting Ltd.						53						—						53
Cincinnati Financial Corporation						109						—						109
Private equity:
The Cincinnati Insurance Company (1)						94						—						94
The Cincinnati Life Insurance Company (1)						3						—						3
Cincinnati Financial Corporation (1)						31						—						31
Real estate:
The Cincinnati Insurance Company (1)						11						—						11
The Cincinnati Life Insurance Company (1)						9						—						9
Cincinnati Financial Corporation (1)						5						—						5
Total other invested assets						$	348					—						$	348
Total investments						$	15,587					—						$	21,542

Notes to Schedule I:

(1) These other invested assets are accounted for under the equity method.

Cincinnati Financial Corporation - 2020 10-K - Page 189

Schedule II

Cincinnati Financial Corporation (parent company only)
Condensed Balance Sheets
(Dollars in millions)						At December 31,
						2020						2019
Assets
Investments
Fixed maturities, at fair value (amortized cost: 2020—$69; 2019—$49)						$	68					$	49
Equity securities, at fair value (cost: 2020—$1,607; 2019—$1,427)						3,687						3,069
Other invested assets						145						103
Total investments						3,900						3,221
Cash and cash equivalents						16						197
Equity in net assets of subsidiaries						7,982						7,424
Investment income receivable						8						7
Land, building and equipment, net, for company use (accumulated depreciation: 2020—$138; 2019—$129)						143						141
Income tax receivable						5						2
Other assets						53						61
Due from subsidiaries						110						107
Total assets						$	12,217					$	11,160
Liabilities
Dividends declared but unpaid						$	97					$	91
Deferred federal income tax						429						345
Long-term debt						788						788
Other liabilities						114						72
Total liabilities						1,428						1,296
Shareholders' Equity
Common stock						397						397
Paid-in capital						1,328						1,306
Retained earnings						10,085						9,257
Accumulated other comprehensive income						769						448
Treasury stock, at cost						(1,790)						(1,544)
Total shareholders' equity						10,789						9,864
Total liabilities and shareholders' equity						$	12,217					$	11,160

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Cincinnati Financial Corporation - 2020 10-K - Page 190

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Income and Comprehensive Income
(Dollars in millions)						Years ended December 31,
						2020						2019						2018
Revenues
Investment income, net of expenses						$	81					$	75					$	65
Investment gains and losses, net						556						728						(108)
Other revenue						15						15						15
Total revenues						652						818						(28)
Expenses
Interest expense						54						52						52
Other expenses						34						37						31
Total expenses						88						89						83
Income (Loss) Before Income Taxes and Earnings of Subsidiaries						564						729						(111)
Provision (Benefit) for Income Taxes						111						146						(31)
Net Income (Loss) Before Earnings of Subsidiaries						453						583						(80)
Increase in equity of subsidiaries						763						1,414						367
Net Income						$	1,216					$	1,997					$	287
Other Comprehensive Income (Loss), Net of Taxes
Change in unrealized gain (loss) on securities						—						—						(2)
Amortization of pension actuarial gains (losses) and prior service costs						(25)						5						(3)
Other Comprehensive Income (Loss), Net of Taxes Before Other Comprehensive Income of Subsidiaries						(25)						5						(5)
Other comprehensive income (loss) of subsidiaries						346						421						(258)
Other comprehensive income (loss)						321						426						(263)
Comprehensive Income						$	1,537					$	2,423					$	24

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Cincinnati Financial Corporation - 2020 10-K - Page 191

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Cash Flows
(Dollars in millions)						Years ended December 31,
						2020						2019						2018
Cash Flows From Operating Activities
Net income						$	1,216					$	1,997					$	287
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization						12						10						7
Investment gains and losses, net						(552)						(720)						114
Dividends from subsidiaries						550						625						500
Changes in:
Increase in equity of subsidiaries						(763)						(1,414)						(367)
Investment income receivable						(1)						(1)						2
Current federal income taxes						(3)						(1)						14
Deferred income tax						91						146						(35)
Other assets						—						4						(17)
Other liabilities						1						4						3
Intercompany receivable for operations						34						20						19
Net cash provided by operating activities						585						670						527
Cash Flows From Investing Activities
Sale of fixed maturities						—						3						1
Call or maturity of fixed maturities						1						21						19
Sale of equity securities						307						122						131
Purchase of fixed maturities						(23)						(39)						(17)
Purchase of equity securities						(372)						(237)						(177)
Investment in buildings and equipment						(11)						(13)						(12)
Cash paid for acquisition						—						(63)						—
Change in other invested assets, net						(42)						(67)						(11)
Net cash used in investing activities						(140)						(273)						(66)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders						(375)						(355)						(336)
Shares acquired - share repurchase authorization						(261)						(67)						(125)
Proceeds from stock options exercised						7						11						9
Other						3						2						1
Net cash used in financing activities						(626)						(409)						(451)
Net change in cash and cash equivalents						(181)						(12)						10
Cash and cash equivalents at beginning of year						197						209						199
Cash and cash equivalents at end of year						$	16					$	197					$	209

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

Cincinnati Financial Corporation - 2020 10-K - Page 192

Schedule III

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2020						2019						2018
Deferred policy acquisition costs:
Commercial lines insurance						$	317					$	311					$	291
Personal lines insurance						136						130						126
Excess and surplus lines insurance						28						25						21
Other						61						46						26
Total property casualty insurance						542						512						464
Life insurance						263						262						274
Total						$	805					$	774					$	738
Gross future policy benefits, losses, claims and expense losses:
Commercial lines insurance						$	4,881					$	4,569					$	4,466
Personal lines insurance						739						687						679
Excess and surplus lines insurance						446						351						298
Other						611						481						203
Total property casualty insurance						6,677						6,088						5,646
Life insurance						2,938						2,859						2,802
Total (1)						$	9,615					$	8,947					$	8,448
Gross unearned premiums:
Commercial lines insurance						$	1,714					$	1,665					$	1,576
Personal lines insurance						797						757						725
Excess and surplus lines insurance						175						152						123
Other						273						213						91
Total property casualty insurance						2,959						2,787						2,515
Life insurance						1						1						1
Total (1)						$	2,960					$	2,788					$	2,516
Other policy claims and benefits payable:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance						—						—						—
Life insurance						46						35						38
Total (1)						$	46					$	35					$	38
Earned premiums:
Commercial lines insurance						$	3,476					$	3,319					$	3,218
Personal lines insurance						1,463						1,404						1,336
Excess and surplus lines insurance						325						278						234
Other						427						333						132
Total property casualty insurance						5,691						5,334						4,920
Life insurance						289						270						250
Total						$	5,980					$	5,604					$	5,170

Cincinnati Financial Corporation - 2020 10-K - Page 193

Schedule III (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2020						2019						2018
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance (2)						431						419						401
Life insurance						158						152						153
Total						$	589					$	571					$	554
Benefits, claims losses and settlement expenses:
Commercial lines insurance						$	2,336					$	2,030					$	2,049
Personal lines insurance						977						985						972
Excess and surplus lines insurance						199						142						104
Other						325						195						98
Total property casualty insurance						3,837						3,352						3,223
Life insurance						297						286						267
Total						$	4,134					$	3,638					$	3,490
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	664					$	631					$	608
Personal lines insurance						256						251						242
Excess and surplus lines insurance						51						47						39
Other						86						57						18
Total property casualty insurance						1,057						986						907
Life insurance						49						48						39
Total (3)						$	1,106					$	1,034					$	946
Underwriting, acquisition and insurance expenses:
Commercial lines insurance						$	415					$	422					$	415
Personal lines insurance						187						164						147
Excess and surplus lines insurance						43						38						29
Other						42						42						24
Total property casualty insurance						687						666						615
Life insurance						36						38						36
Total (3)						$	723					$	704					$	651
Net written premiums:
Commercial lines insurance						$	3,534					$	3,410					$	3,245
Personal lines insurance						1,503						1,435						1,378
Excess and surplus lines insurance						348						303						249
Other						479						368						158
Total property casualty insurance						5,864						5,516						5,030
Accident and health insurance						2						2						3
Total						$	5,866					$	5,518					$	5,033

Notes to Schedule III:

(1) The sum of gross future policy benefits, losses, claims and expense losses, gross unearned premiums and other policy claims and benefits payable is equal to the sum of Loss and loss expense reserves, Life policy reserves and investment contract reserves and Unearned premiums reported in the company’s consolidated balance sheets.

(2) This segment information is not regularly allocated to segments and reviewed by company management in making decisions about resources to be allocated to the segments or to assess their performance.

(3) The sum of amortization of deferred policy acquisition costs and other underwriting and insurance expenses is equal to Underwriting, acquisition and insurance expenses in the consolidated statements of income.

Cincinnati Financial Corporation - 2020 10-K - Page 194

Schedule IV

Cincinnati Financial Corporation and Subsidiaries
Reinsurance
(Dollars in millions)						Years ended December 31,
						2020						2019						2018
Gross amounts:
Life insurance in force						$	111,756					$	108,130					$	104,726
Earned premiums
Commercial lines insurance						$	3,578					$	3,421					$	3,314
Personal lines insurance						1,503						1,446						1,372
Excess and surplus lines insurance						341						292						245
Other						201						181						—
Total property casualty insurance						5,623						5,340						4,931
Life insurance						362						341						320
Total						$	5,985					$	5,681					$	5,251
Ceded amounts to other companies:
Life insurance in force						$	38,281					$	38,146					$	38,584
Earned premiums
Commercial lines insurance						$	109					$	109					$	104
Personal lines insurance						41						43						37
Excess and surplus lines insurance						16						14						11
Other						51						39						8
Total property casualty insurance						217						205						160
Life insurance						73						71						70
Total						$	290					$	276					$	230
Assumed amounts from other companies:
Life insurance in force						$	—					$	—					$	—
Earned premiums
Commercial lines insurance						$	7					$	7					$	8
Personal lines insurance						1						1						1
Excess and surplus lines insurance						—						—						—
Other						277						191						140
Total property casualty insurance						285						199						149
Life insurance						—						—						—
Total						$	285					$	199					$	149
Net amounts:
Life insurance in force						$	73,475					$	69,984					$	66,142
Earned premiums
Commercial lines insurance						$	3,476					$	3,319					$	3,218
Personal lines insurance						1,463						1,404						1,336
Excess and surplus lines insurance						325						278						234
Other						427						333						132
Total property casualty insurance						5,691						5,334						4,920
Life insurance						289						270						250
Total						$	5,980					$	5,604					$	5,170
Percentage of amounts assumed to net:
Life insurance in force						—		%				—		%				—		%
Earned premiums
Commercial lines insurance						0.2		%				0.2		%				0.3		%
Personal lines insurance						0.1						0.1						0.1
Excess and surplus lines insurance						—						—						—
Other						64.9						57.4						106.1
Total property casualty insurance						5.0						3.7						3.0
Life insurance						—						—						—
Total						4.8						3.6						2.9

Cincinnati Financial Corporation - 2020 10-K - Page 195

Schedule V

Cincinnati Financial Corporation and Subsidiaries
Valuation and Qualifying Accounts
(Dollars in millions)						At December 31,
						2020						2019						2018
Allowance for credit losses (1):
Beginning balance, January 1						$	8					$	6					$	6
Cumulative effect of change in accounting for credit losses as of January 1, 2020, pretax						3						—						—
Additions charged to costs and expenses						19						8						6
Deductions						(8)						(6)						(6)
Ending balance, December 31						$	22					$	8					$	6
Deferred tax valuation allowance:
Beginning balance, January 1						$	41					$	—					$	—
Additions charged to costs and expenses						15						55						—
Deductions						—						(14)						—
Ending balance, December 31						56						41						—
Total valuation and qualifying accounts						$	78					$	49					$	6

Notes to Schedule V:

(1) Includes allowances for credit losses related to premiums receivable, reinsurance recoverable and finance receivables.

Cincinnati Financial Corporation - 2020 10-K - Page 196

Schedule VI

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2020						2019						2018
Deferred policy acquisition costs:
Commercial lines insurance						$	317					$	311					$	291
Personal lines insurance						136						130						126
Excess and surplus lines insurance						28						25						21
Other						61						46						26
Total						$	542					$	512					$	464
Reserves for unpaid claims and claim adjustment expenses:
Commercial lines insurance						$	4,881					$	4,569					$	4,466
Personal lines insurance						739						687						679
Excess and surplus lines insurance						446						351						298
Other						611						481						203
Total						$	6,677					$	6,088					$	5,646
Reserve discount deducted						$	—					$	—					$	—
Gross unearned premiums:
Commercial lines insurance						$	1,714					$	1,665					$	1,576
Personal lines insurance						797						757						725
Excess and surplus lines insurance						175						152						123
Other						273						213						91
Total						$	2,959					$	2,787					$	2,515
Earned premiums:
Commercial lines insurance						$	3,476					$	3,319					$	3,218
Personal lines insurance						1,463						1,404						1,336
Excess and surplus lines insurance						325						278						234
Other						427						333						132
Total						$	5,691					$	5,334					$	4,920
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total (1)						$	431					$	419					$	401

Note to Schedule VI:

(1) This segment information is not regularly allocated to segments and not reviewed by company management in making decisions about resources to be allocated to the segments or to assess their performance.

Cincinnati Financial Corporation - 2020 10-K - Page 197

Schedule VI (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2020						2019						2018
Loss and loss expenses incurred related to current accident year:
Commercial lines insurance						$	2,431					$	2,222					$	2,206
Personal lines insurance						995						1,012						960
Excess and surplus lines insurance						192						153						128
Other						350						213						96
Total						$	3,968					$	3,600					$	3,390
Loss and loss expenses incurred related to prior accident years:
Commercial lines insurance						$	(95)					$	(192)					$	(157)
Personal lines insurance						(18)						(27)						13
Excess and surplus lines insurance						7						(11)						(24)
Other						(25)						(18)						1
Total						$	(131)					$	(248)					$	(167)
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	664					$	631					$	608
Personal lines insurance						256						251						242
Excess and surplus lines insurance						51						47						39
Other						86						57						18
Total						$	1,057					$	986					$	907
Paid loss and loss expenses:
Commercial lines insurance						$	1,969					$	2,023					$	1,816
Personal lines insurance						921						966						913
Excess and surplus lines insurance						112						90						74
Other						181						181						44
Total						$	3,183					$	3,260					$	2,847
Net written premiums:
Commercial lines insurance						$	3,534					$	3,410					$	3,245
Personal lines insurance						1,503						1,435						1,378
Excess and surplus lines insurance						348						303						249
Other						479						368						158
Total						$	5,864					$	5,516					$	5,030

Cincinnati Financial Corporation - 2020 10-K - Page 198

Index of Exhibits

Exhibit No.			Exhibit Description
3.1			Amended and Restated Articles of Incorporation of Cincinnati Financial Corporation (incorporated by reference to the company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, Exhibit 3.1)
3.2			Amended and Restated Code of Regulations of Cincinnati Financial Corporation, as of May 5, 2018 (incorporated by reference to the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, Exhibit 3.2)
4.1			Indenture with The Bank of New York Trust Company (incorporated by reference to the company’s Current Report on Form 8-K dated November 2, 2004, filed with respect to the issuance of the company’s 6.125% Senior Notes due November 1, 2034)
4.2			Supplemental Indenture with The Bank of New York Trust Company (incorporated by reference to the company’s Current Report on Form 8-K dated November 2, 2004, filed with respect to the issuance of the company’s 6.125% Senior Notes due November 1, 2034)
4.3			Second Supplemental Indenture with The Bank of New York Trust Company (incorporated by reference to the company’s Current Report on Form 8-K dated May 9, 2005, filed with respect to the completion of the company’s exchange offer and rescission offer for its 6.90% senior debentures due 2028)
4.4			Form of 6.125% Exchange Note Due 2034 (included in Exhibit 4.2)
4.5			Form of 6.92% Debentures Due 2028 (included in Exhibit 4.3)
4.6			Indenture with the First National Bank of Chicago (subsequently assigned to The Bank of New York Trust Company) (incorporated by reference to the company’s registration statement on Form S-3 filed on May 20, 1998 (File No. 333-51677))
4.7			Form of 6.90% Debentures Due 2028 (included in Exhibit 4.6)
4.8			Description of Registered Securities
10.1			Cincinnati Financial Corporation Nonemployee Director Stock Plan of 2018 (incorporated by reference to the company’s definitive Proxy Statement dated March 21, 2018)
10.2			First Amendment to Cincinnati Financial Corporation Nonemployee Director Stock Plan of 2018
10.3			Cincinnati Financial Corporation Nonemployee Director Deferred Compensation Plan
10.4			Cincinnati Financial Corporation Stock Option Plan No. VII (incorporated by reference to the company’s definitive Proxy Statement dated March 8, 2002) (File No. 000-04604)
10.5			Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, as amended January 31, 2014 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated February 3, 2014)
10.6			Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, Amended and Restated on January 29, 2021
10.7			Cincinnati Financial Corporation 2006 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 30, 2006)
10.8			Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 16, 2012)
10.9			Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to the company’s Definitive Proxy Statement dated March 16, 2016, Appendix B)
10.10			First Amendment of Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 99.1 filed with the Company’s current report on Form 8-K dated April 11, 2016)
10.11			Amended and Restated Cincinnati Financial Corporation Supplemental Retirement Plan dated January 1, 2009 (incorporated by reference to Exhibit 10.7 filed with the company’s Annual Report on Form 10-K dated February 27, 2013)
10.12			Form of Incentive Stock Option Agreement for Stock Option Plan VII (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated October 20, 2006)
10.13			Form of Nonqualified Stock Option Agreement for Stock Option Plan VII (incorporated by reference to Exhibit 10.2 filed with the company’s Current Report on Form 8-K dated October 20, 2006)
10.14			Form of Incentive Stock Option Agreement for the 2006 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the company’s Current Report on Form 8-K dated October 20, 2006)

Cincinnati Financial Corporation - 2020 10-K - Page 199

Exhibit No.			Exhibit Description
10.15			Form of Nonqualified Stock Option Agreement for the 2006 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the company’s Current Report on Form 8-K dated October 20, 2006)
10.16			Form of Incentive Stock Option Agreement for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated February 21, 2013)
10.17			Form of Nonqualified Stock Option Agreement for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.2 filed with the company’s Current Report on Form 8-K dated February 21, 2013)
10.18			Form of Restricted Stock Unit Agreement (service based) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the company’s Current Report on Form 8-K dated February 21, 2013)
10.19			Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated February 13, 2015)
10.20			Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the company’s Current Report on Form 8-K dated February 21, 2013)
10.21			Form of Incentive Compensation Agreement for the Cincinnati Financial Corporation Incentive Compensation Plan of 2009 (as amended January 31, 2014) (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.22			Form of Incentive Stock Option Agreement for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.2 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.23			Form of Nonqualified Stock Option Agreement for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.24			Form of Restricted Stock Unit Agreement (service based/cliff) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.25			Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.5 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.26			Form of Restricted Stock Unit Agreement (performance-based) for the Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to Exhibit 10.6 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.27			Form of Incentive Stock Option Agreement for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.7 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.28			Form of Nonqualified Stock Option Agreement for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.8 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.29			Form of Restricted Stock Unit Agreement (service based/cliff) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.9 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.30			Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.10 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.31			Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to Exhibit 10.11 filed with the company’s Current Report on Form 8-K dated January 30, 2017)
10.32			Amended and Restated Cincinnati Financial Corporation Top Hat Savings Plan dated January 1, 2018 (incorporated by reference to Exhibit 10.31 filed with the company's Form 10-K dated February 23, 2018)
10.33			Cincinnati Financial Corporation Executive Deferred Compensation Agreement by and between the Cincinnati Financial Corporation and Michael J. Sewell, dated as of October 25, 2011 (incorporated by reference to Exhibit 10.2 filed with the company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2011)

Cincinnati Financial Corporation - 2020 10-K - Page 200

Exhibit No.			Exhibit Description
10.34			Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A. as Administrative Agent, PNC Capital Markets LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A., as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A., as Documentation Agents, dated May 13, 2014 (incorporated by reference to the company’s Current Report on Form 8-K dated May 13, 2014, Exhibit 10.1)
10.35			First Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A. as Administrative Agent, PNC Capital Markets LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A., as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A., as Documentation Agents, dated February 8, 2016 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated February 8, 2016)
10.36			Second Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., as Administrative Agent, PNC Capital Markets, LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A. as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A. as Documentation Agents, dated March 31, 2016 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated April 4, 2016)
10.37			Third Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., as Administrative Agent, PNC Capital Markets, LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A. as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A. as Documentation Agents, dated February 4, 2019 (incorporated by reference to Exhibit 10.1 filed with the company's Current Report on Form 8-K dated February 6, 2019)
10.38			Fourth Amendment of the Amended and Restated Credit Agreement by and among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., as Administrative Agent, PNC Capital Markets, LLC, as Sole Bookrunner and Joint Lead Arranger, Fifth Third Bank, N.A. as Joint Lead Arranger and Syndication Agent, The Huntington National Bank and U.S. Bank, N.A. as Documentation Agents, dated February 26, 2019 (incorporated by reference to Exhibit 10.6 filed with the company’s Current Report on Form 8-K dated February 28, 2019)
10.39			Limited Consent to Credit Agreement, dated December 6, 2019, among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., Fifth Third Bank, N.A., The Huntington National Bank, U.S. Bank, N.A., and Branch Banking and Trust Company (incorporated by reference to Exhibit 10.6 filed with the company’s Current Report on Form 8-K, dated December 6, 2019)
10.40			Limited Consent to Credit Agreement, dated December 11, 2020, among Cincinnati Financial Corporation, CFC Investment Company, PNC Bank, N.A., Fifth Third Bank, N.A., The Huntington National Bank, U.S. Bank, N.A., and Branch Banking and Trust Company (incorporated by reference to Exhibit 10.7 filed with the company’s Current Report on Form 8-K, dated December 11, 2020)
10.41			Reimbursement Agreement for Letters of Credit by and between Bank of Nova Scotia and The Cincinnati Insurance Company, dated October 15, 2018 (incorporated by reference to Exhibit 10.1 filed with the company's Current Report on Form 8-K dated October 17, 2018)
10.42			Letter of Credit Facility Agreement by and between Cincinnati Financial Corporation, as Borrower, and The Bank of Nova Scotia, as Bank, dated February 25, 2019 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K dated February 28, 2019)
10.43			Amendment Letter No. 1 to the Letter of Credit Facility Agreement, dated November 4, 2019 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K, dated November 5, 2019)
10.44			Amendment Letter No. 2 to the Letter of Credit Facility Agreement, dated October 30, 2020 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K, dated November 2, 2020)
11			Statement re: Computation of per share earnings for the years ended December 31, 2020, 2019, and 2018, contained in Part II, Item 8, Note 12, to the Consolidated Financial Statements
14			Cincinnati Financial Corporation Code of Ethics for Senior Financial Officers (incorporated by reference to the company’s definitive Proxy Statement dated March 18, 2004 (File No. 000-04604))
21			Cincinnati Financial Corporation subsidiaries contained in Part I, Item 1, of this report
23			Consent of Independent Registered Public Accounting Firm
31A			Certification pursuant to Section 302 of the Sarbanes Oxley Act of 2002 – Chief Executive Officer
31B			Certification pursuant to Section 302 of the Sarbanes Oxley Act of 2002 – Chief Financial Officer
32			Certification pursuant to Section 906 of the Sarbanes Oxley Act of 2002

Cincinnati Financial Corporation - 2020 10-K - Page 201

Exhibit No.			Exhibit Description
101.INS			The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document.
101.SCH			XBRL Taxonomy Extension Schema Document
101.CAL			XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF			XBRL Taxonomy Extension Definition Linkbase Document
101.LAB			XBRL Taxonomy Extension Label Linkbase Document
101.PRE			XBRL Taxonomy Extension Presentation Linkbase Document
104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

Cincinnati Financial Corporation - 2020 10-K - Page 202

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Cincinnati Financial Corporation

/S/ Michael J. Sewell

By: Michael J. Sewell, CPA

Title: Chief Financial Officer, Senior Vice President and Treasurer

(Principal Accounting Officer)

Date: February 25, 2021

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been duly signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature			Title			Date
/S/ Steven J. Johnston			Chairman, President, Chief Executive Officer and Director			February 25, 2021
Steven J. Johnston
/S/ Michael J. Sewell			Chief Financial Officer, Senior Vice President and Treasurer			February 25, 2021
Michael J. Sewell
/S/ Thomas J. Aaron			Director			February 25, 2021
Thomas J. Aaron
/S/ William F. Bahl			Director			February 25, 2021
William F. Bahl
/S/ Nancy C. Benacci			Director			February 25, 2021
Nancy C. Benacci
/S/ Dirk J. Debbink			Director			February 25, 2021
Dirk J. Debbink
/S/ Linda W. Clement-Holmes			Director			February 25, 2021
Linda W. Clement-Holmes
/S/ Kenneth C. Lichtendahl			Director			February 25, 2021
Kenneth C. Lichtendahl
/S/ David P. Osborn			Director			February 25, 2021
David P. Osborn
/S/ Jill P. Meyer Pratt			Director			February 25, 2021
Jill P. Meyer Pratt
/S/ Gretchen W. Schar			Director			February 25, 2021
Gretchen W. Schar
/S/ Charles O. Schiff			Director			February 25, 2021
Charles O. Schiff
/S/ Thomas R. Schiff			Director			February 25, 2021
Thomas R. Schiff
/S/ Douglas S. Skidmore			Director			February 25, 2021
Douglas S. Skidmore
/S/ John F. Steele, Jr.			Director			February 25, 2021
John F. Steele, Jr.
/S/ Larry R. Webb			Director			February 25, 2021
Larry R. Webb

Cincinnati Financial Corporation - 2020 10-K - Page 203