Item 16. Form 10-K Summary

This item is not applicable to the company.

Cincinnati Financial Corporation - 2025 10-K - Page 180

Schedule I

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2025
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Fixed maturities:
States, municipalities and political subdivisions:
The Cincinnati Insurance Company						$	3,532					$	3,473					$	3,473
The Cincinnati Casualty Company						215						207						207
The Cincinnati Indemnity Company						42						41						41
The Cincinnati Life Insurance Company						426						380						380
The Cincinnati Specialty Underwriters Insurance Company						804						776						776
Cincinnati Financial Corporation						46						42						42
Total						5,065						4,919						4,919
United States government:
The Cincinnati Insurance Company						138						138						138
The Cincinnati Casualty Company						13						13						13
The Cincinnati Indemnity Company						7						7						7
The Cincinnati Life Insurance Company						6						6						6
The Cincinnati Specialty Underwriters Insurance Company						9						9						9
Cincinnati Global Underwriting Ltd.						139						140						140
Total						312						313						313
Government-sponsored enterprises:
The Cincinnati Insurance Company						1,343						1,342						1,342
The Cincinnati Casualty Company						73						72						72
The Cincinnati Indemnity Company						22						22						22
The Cincinnati Life Insurance Company						532						533						533
The Cincinnati Specialty Underwriters Insurance Company						358						358						358
Cincinnati Global Underwriting Ltd.						7						7						7
Cincinnati Financial Corporation						25						25						25
Total						2,360						2,359						2,359
Foreign government:
Cincinnati Global Underwriting Ltd.						24						24						24
Total						24						24						24
All other corporate bonds:
The Cincinnati Insurance Company						6,558						6,615						6,615
The Cincinnati Casualty Company						107						101						101
The Cincinnati Indemnity Company						34						33						33
The Cincinnati Life Insurance Company						3,044						2,974						2,974
The Cincinnati Specialty Underwriters Insurance Company						547						530						530
Cincinnati Global Underwriting Ltd.						230						232						232
Cincinnati Financial Corporation						23						23						23
Total						10,543						10,508						10,508
Total fixed maturities						$	18,304					$	18,123					$	18,123

Cincinnati Financial Corporation - 2025 10-K - Page 181

Schedule I (continued)

Cincinnati Financial Corporation and Subsidiaries
Summary of Investments - Other Than Investments in Related Parties
(Dollars in millions)						At December 31, 2025
Type of investment						Cost or amortized cost						Fair value						Balance sheet
Equity securities:
Common equities:
The Cincinnati Insurance Company						$	2,075					$	6,546					$	6,546
The Cincinnati Casualty Company						53						197						197
The Cincinnati Indemnity Company						17						40						40
The Cincinnati Specialty Underwriters Insurance Company						97						434						434
CSU Producer Resources Inc.						16						33						33
Cincinnati Financial Corporation						1,534						5,123						5,123
Total						3,792						12,373						12,373
Nonredeemable preferred equities:
The Cincinnati Insurance Company						347						306						306
The Cincinnati Life Insurance Company						13						13						13
Cincinnati Financial Corporation						3						2						2
Total						363						321						321
Total equity securities						$	4,155					$	12,694					$	12,694
Short-term investments:
Cincinnati Financial Corporation						148						148						148
Total short-term investments						$	148					$	148					$	148
Other invested assets:
Policy loans:
The Cincinnati Life Insurance Company						$	38					—						$	38
Deposits at Lloyd's:
Cincinnati Global Underwriting Ltd.						16						—						16
Private equity:
The Cincinnati Insurance Company (1)						597						—						597
The Cincinnati Life Insurance Company (1)						13						—						13
Cincinnati Financial Corporation (1)						31						—						31
Real estate:
The Cincinnati Insurance Company (1)						67						—						67
The Cincinnati Life Insurance Company (1)						53						—						53
Cincinnati Financial Corporation (1)						3						—						3
Total other invested assets						$	818					—						$	818
Total investments						$	23,425					—						$	31,783

Notes to Schedule I:

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

Cincinnati Financial Corporation - 2025 10-K - Page 182

Schedule II

Cincinnati Financial Corporation (parent company only)
Condensed Balance Sheets
(Dollars in millions)						At December 31,
						2025						2024
Assets
Investments
Fixed maturities, at fair value (amortized cost: 2025—$94; 2024—$179)						$	90					$	173
Equity securities, at fair value (cost: 2025—$1,537; 2024—$1,389)						5,125						4,565
Short-term investments, at fair value (amortized cost: 2025—$148; 2024—$298)						148						298
Other invested assets						34						40
Total investments						5,397						5,076
Cash and cash equivalents						205						167
Equity in net assets of subsidiaries						11,526						10,015
Investment income receivable						5						14
Land, building and equipment, net, for company use (accumulated depreciation: 2025—$186; 2024—$174)						137						142
Income tax receivable						5						9
Other assets						236						201
Due from subsidiaries						255						53
Total assets						$	17,766					$	15,677
Liabilities
Dividends declared but unpaid						$	135					$	127
Deferred federal income tax						789						697
Long-term debt						790						790
Other liabilities						141						128
Total liabilities						1,855						1,742
Shareholders' Equity
Common stock						397						397
Paid-in capital						1,561						1,502
Retained earnings						16,719						14,869
Accumulated other comprehensive income						(34)						(309)
Treasury stock, at cost						(2,732)						(2,524)
Total shareholders' equity						15,911						13,935
Total liabilities and shareholders' equity						$	17,766					$	15,677

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 - 2025 10-K - Page 183

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Income and Comprehensive Income
(Dollars in millions)						Years ended December 31,
						2025						2024						2023
Revenues
Investment income, net of expenses						$	112					$	122					$	109
Investment gains and losses, net						478						644						644
Other revenue						15						15						15
Total revenues						605						781						768
Expenses
Interest expense						52						52						52
Other expenses						44						42						38
Total expenses						96						94						90
Income Before Income Taxes and Earnings of Subsidiaries						509						687						678
Provision for Income Taxes						103						140						134
Net Income Before Earnings of Subsidiaries						406						547						544
Increase in equity of subsidiaries						1,987						1,745						1,299
Net Income						$	2,393					$	2,292					$	1,843
Other Comprehensive Income (Loss), Net of Taxes
Change in unrealized gain on securities						2						2						4
Amortization of pension actuarial gains (losses) and prior service costs						8						36						(5)
Other Comprehensive Income (Loss), Net of Taxes Before Other Comprehensive Income (Loss) of Subsidiaries						10						38						(1)
Other comprehensive income of subsidiaries						265						88						180
Other comprehensive income						275						126						179
Comprehensive Income						$	2,668					$	2,418					$	2,022

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 - 2025 10-K - Page 184

Schedule II (continued)

Cincinnati Financial Corporation (parent company only)
Condensed Statements of Cash Flows
(Dollars in millions)						Years ended December 31,
						2025						2024						2023
Cash Flows From Operating Activities
Net income						$	2,393					$	2,292					$	1,843
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization and other						17						4						10
Investment gains and losses, net						(471)						(641)						(644)
Dividends from subsidiaries						740						300						426
Changes in:
Increase in equity of subsidiaries						(1,987)						(1,745)						(1,299)
Current federal income taxes						4						(6)						1
Deferred income tax						89						64						144
Other assets						(10)						(4)						(12)
Other liabilities						(3)						3						3
Intercompany receivable/payable						(166)						21						95
Net cash provided by operating activities						606						288						567
Cash Flows From Investing Activities
Sale, call or maturity of fixed maturities						90						124						17
Sale of equity securities						137						665						138
Purchase of fixed maturities						(9)						(124)						(119)
Purchase of equity securities						(218)						(19)						(65)
Change in short-term investments, net						156						(295)						—
Investment in buildings and equipment						(7)						(14)						(10)
Change in other invested assets, net						2						9						—
Net cash (used in) received from investing activities						151						346						(39)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders						(525)						(490)						(454)
Shares acquired - share repurchase authorization						(205)						(126)						(67)
Proceeds from stock options exercised						10						10						9
Other						1						1						1
Net cash used in financing activities						(719)						(605)						(511)
Net change in cash and cash equivalents						38						29						17
Cash and cash equivalents at beginning of year						167						138						121
Cash and cash equivalents at end of year						$	205					$	167					$	138

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 - 2025 10-K - Page 185

Schedule III

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2025						2024						2023
Deferred policy acquisition costs:
Commercial lines insurance						$	459					$	431					$	387
Personal lines insurance						320						276						210
Excess and surplus lines insurance						56						50						43
Other						139						129						109
Total property casualty insurance						974						886						749
Life insurance						370						356						344
Total						$	1,344					$	1,242					$	1,093
Gross future policy benefits, losses, claims and expense losses:
Commercial lines insurance						$	6,992					$	6,303					$	5,887
Personal lines insurance						1,685						1,209						990
Excess and surplus lines insurance						1,299						1,109						932
Other						1,474						1,316						1,166
Total property casualty insurance						11,450						9,937						8,975
Life insurance						3,014						2,983						3,094
Total (1)						$	14,464					$	12,920					$	12,069
Gross unearned premiums:
Commercial lines insurance						$	2,441					$	2,311					$	2,111
Personal lines insurance						1,864						1,633						1,253
Excess and surplus lines insurance						362						321						273
Other						586						547						481
Total property casualty insurance						5,253						4,812						4,118
Life insurance						1						1						1
Total (1)						$	5,254					$	4,813					$	4,119
Other policy claims and benefits payable:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance						—						—						—
Life insurance						35						43						49
Total (1)						$	35					$	43					$	49
Earned premiums:
Commercial lines insurance						$	4,863					$	4,486					$	4,264
Personal lines insurance						3,199						2,623						2,044
Excess and surplus lines insurance						698						615						542
Other						893						844						795
Total property casualty insurance						9,653						8,568						7,645
Life insurance						330						321						313
Total						$	9,983					$	8,889					$	7,958

Cincinnati Financial Corporation - 2025 10-K - Page 186

Schedule III (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Insurance Information
(Dollars in millions)						Years ended December 31,
						2025						2024						2023
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total property casualty insurance (2)						854						715						602
Life insurance						202						190						184
Total						$	1,056					$	905					$	786
Benefits, claims losses and settlement expenses:
Commercial lines insurance						$	2,970					$	2,795					$	2,787
Personal lines insurance						2,419						1,795						1,442
Excess and surplus lines insurance						425						411						350
Other						521						435						379
Total property casualty insurance						6,335						5,436						4,958
Life insurance						305						301						316
Total						$	6,640					$	5,737					$	5,274
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	937					$	853					$	808
Personal lines insurance						572						457						367
Excess and surplus lines insurance						115						102						89
Other						196						199						157
Total property casualty insurance						1,820						1,611						1,421
Life insurance						31						30						29
Total (3)						$	1,851					$	1,641					$	1,450
Underwriting, acquisition and insurance expenses:
Commercial lines insurance						$	522					$	531					$	505
Personal lines insurance						324						305						243
Excess and surplus lines insurance						77						65						52
Other						88						52						76
Total property casualty insurance						1,011						953						876
Life insurance						62						63						58
Total (3)						$	1,073					$	1,016					$	934
Net written premiums:
Commercial lines insurance						$	4,998					$	4,690					$	4,336
Personal lines insurance						3,430						2,999						2,302
Excess and surplus lines insurance						729						654						570
Other						925						900						838
Total property casualty insurance						10,082						9,243						8,046
Accident and health insurance						2						2						2
Total						$	10,084					$	9,245					$	8,048

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 - 2025 10-K - Page 187

Schedule IV

Cincinnati Financial Corporation and Subsidiaries
Reinsurance
(Dollars in millions)						Years ended December 31,
						2025						2024						2023
Gross amounts:
Life insurance in force						$	127,448					$	124,145					$	122,053
Earned premiums
Commercial lines insurance						$	4,992					$	4,638					$	4,399
Personal lines insurance						3,378						2,724						2,117
Excess and surplus lines insurance						741						652						572
Other						363						324						319
Total property casualty insurance						9,474						8,338						7,407
Life insurance						412						404						394
Total						$	9,886					$	8,742					$	7,801
Ceded amounts to other companies:
Life insurance in force						$	40,137					$	39,900					$	39,692
Earned premiums
Commercial lines insurance						$	141					$	162					$	147
Personal lines insurance						180						102						74
Excess and surplus lines insurance						43						37						30
Other						130						111						80
Total property casualty insurance						494						412						331
Life insurance						82						83						81
Total						$	576					$	495					$	412
Assumed amounts from other companies:
Life insurance in force						$	—					$	—					$	—
Earned premiums
Commercial lines insurance						$	12					$	10					$	12
Personal lines insurance						1						1						1
Excess and surplus lines insurance						—						—						—
Other						660						631						556
Total property casualty insurance						673						642						569
Life insurance						—						—						—
Total						$	673					$	642					$	569
Net amounts:
Life insurance in force						$	87,311					$	84,245					$	82,361
Earned premiums
Commercial lines insurance						$	4,863					$	4,486					$	4,264
Personal lines insurance						3,199						2,623						2,044
Excess and surplus lines insurance						698						615						542
Other						893						844						795
Total property casualty insurance						9,653						8,568						7,645
Life insurance						330						321						313
Total						$	9,983					$	8,889					$	7,958
Percentage of amounts assumed to net:
Life insurance in force						—		%				—		%				—		%
Earned premiums
Commercial lines insurance						0.2		%				0.2		%				0.3		%
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						73.9						74.8						69.9
Total property casualty insurance						7.0						7.5						7.4
Life insurance						—						—						—
Total						6.7						7.2						7.2

Cincinnati Financial Corporation - 2025 10-K - Page 188

Schedule V

Cincinnati Financial Corporation and Subsidiaries
Valuation and Qualifying Accounts
(Dollars in millions)						At December 31,
						2025						2024						2023
Allowance for credit losses (1):
Beginning balance, January 1						$	53					$	36					$	17
Additions charged to costs and expenses						49						43						33
Deductions						(26)						(26)						(14)
Ending balance, December 31						$	76					$	53					$	36
Deferred tax valuation allowance:
Beginning balance, January 1						$	—					$	—					$	31
Additions charged to costs and expenses						—						—						—
Deductions						—						—						(31)
Ending balance, December 31						—						—						—
Total valuation and qualifying accounts						$	76					$	53					$	36

Notes to Schedule V:

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

Cincinnati Financial Corporation - 2025 10-K - Page 189

Schedule VI

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2025						2024						2023
Deferred policy acquisition costs:
Commercial lines insurance						$	459					$	431					$	387
Personal lines insurance						320						276						210
Excess and surplus lines insurance						56						50						43
Other						139						129						109
Total						$	974					$	886					$	749
Reserves for unpaid claims and claim adjustment expenses:
Commercial lines insurance						$	6,992					$	6,303					$	5,887
Personal lines insurance						1,685						1,209						990
Excess and surplus lines insurance						1,299						1,109						932
Other						1,474						1,316						1,166
Total						$	11,450					$	9,937					$	8,975
Reserve discount deducted						$	—					$	—					$	—
Gross unearned premiums:
Commercial lines insurance						$	2,441					$	2,311					$	2,111
Personal lines insurance						1,864						1,633						1,253
Excess and surplus lines insurance						362						321						273
Other						586						547						481
Total						$	5,253					$	4,812					$	4,118
Earned premiums:
Commercial lines insurance						$	4,863					$	4,486					$	4,264
Personal lines insurance						3,199						2,623						2,044
Excess and surplus lines insurance						698						615						542
Other						893						844						795
Total						$	9,653					$	8,568					$	7,645
Investment income, net of expenses:
Commercial lines insurance						$	—					$	—					$	—
Personal lines insurance						—						—						—
Excess and surplus lines insurance						—						—						—
Other						—						—						—
Total (1)						$	854					$	715					$	602

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 - 2025 10-K - Page 190

Schedule VI (continued)

Cincinnati Financial Corporation and Subsidiaries
Supplementary Information Concerning Property Casualty Insurance Operations
(Dollars in millions)						Years ended December 31,
						2025						2024						2023
Loss and loss expenses incurred related to current accident year:
Commercial lines insurance						$	3,100					$	2,933					$	2,910
Personal lines insurance						2,423						1,821						1,506
Excess and surplus lines insurance						444						403						361
Other						564						515						396
Total						$	6,531					$	5,672					$	5,173
Loss and loss expenses incurred related to prior accident years:
Commercial lines insurance						$	(130)					$	(138)					$	(123)
Personal lines insurance						(4)						(26)						(64)
Excess and surplus lines insurance						(19)						8						(11)
Other						(43)						(80)						(17)
Total						$	(196)					$	(236)					$	(215)
Amortization of deferred policy acquisition costs:
Commercial lines insurance						$	937					$	853					$	808
Personal lines insurance						572						457						367
Excess and surplus lines insurance						115						102						89
Other						196						199						157
Total						$	1,820					$	1,611					$	1,421
Paid loss and loss expenses:
Commercial lines insurance						$	2,302					$	2,335					$	2,480
Personal lines insurance						2,061						1,565						1,353
Excess and surplus lines insurance						235						229						183
Other						393						252						260
Total						$	4,991					$	4,381					$	4,276
Net written premiums:
Commercial lines insurance						$	4,998					$	4,690					$	4,336
Personal lines insurance						3,430						2,999						2,302
Excess and surplus lines insurance						729						654						570
Other						925						900						838
Total						$	10,082					$	9,243					$	8,046

Cincinnati Financial Corporation - 2025 10-K - Page 191

Index of Exhibits

Exhibit No.			Exhibit Description
3.1			Amended and Restated Articles of Incorporation of Cincinnati Financial Corporation as of May 29, 2025, (incorporated by reference to Exhibit 3.1 filed with the company’s Quarterly Report on Form 10-Q filed on July 28, 2025)
3.2			Amended and Restated Code of Regulations of Cincinnati Financial Corporation, as of May 6, 2023 (incorporated by reference to Exhibit 3.1 filed with the company’s Current Report on Form 8-K filed on May 9, 2023)
4.1			Indenture with The Bank of New York Trust Company (incorporated by reference to Exhibit 4.1 filed with the company’s Current Report on Form 8-K filed on 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 Exhibit 4.2 filed with the company’s Current Report on Form 8-K filed on 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 Exhibit 4.2 filed with the company’s Current Report on Form 8-K filed on 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 (incorporated by reference to Exhibit 4.8 filed with the company's Annual Report on Form 10-K filed on February 26, 2024)
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, Appendix C)
10.2			First Amendment to the Cincinnati Financial Corporation Nonemployee Director Stock Plan of 2018 (incorporated by reference to Exhibit 10.2 filed with the company’s Annual Report on Form 10-K filed on February 25, 2021)
10.3			Cincinnati Financial Corporation Nonemployee Director Deferred Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the company’s Annual Report on Form 10-K filed on February 25, 2021)
10.4			Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, Amended and Restated on January 28, 2022 (incorporated by reference to the company’s Exhibit 10.6 filed with the company’s Annual Report on Form 10-K filed on February 24, 2022)
10.5			Cincinnati Financial Corporation 2006 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 30, 2006, Appendix B)
10.6			Cincinnati Financial Corporation 2012 Stock Compensation Plan (incorporated by reference to the company’s definitive Proxy Statement dated March 16, 2012, Appendix A)
10.7			Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by reference to the company’s Definitive Proxy Statement dated March 16, 2016, Appendix B)
10.8			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 filed on April 11, 2016)
10.9			Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to the company's definitive Proxy Statement dated March 20, 2024, Appendix B)
10.10			Amended and Restated Cincinnati Financial Corporation Supplemental Retirement Plan dated October 1, 2025.
10.11			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 filed on October 26, 2006)
10.12			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 filed on October 26, 2006)

Cincinnati Financial Corporation - 2025 10-K - Page 192

Exhibit No.			Exhibit Description
10.13			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 filed on February 21, 2013)
10.14			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 filed on February 21, 2013)
10.15			Form of Incentive Compensation Agreement for the 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 filed on January 30, 2017)
10.16			Form of Incentive Compensation Agreement for the Cincinnati Financial Corporation Annual Incentive Compensation Plan of 2009, Amended and Restated on January 29, 2022 (incorporated by reference to Exhibit 10.1 filed with the company’s Current Report on Form 8-K filed on January 29, 2024)
10.17			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 filed on January 30, 2017)
10.18			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 filed on January 30, 2017)
10.19			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 filed on January 30, 2017)
10.20			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 filed on January 30, 2017)
10.21			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 filed on January 30, 2017)
10.22			Form of Restricted Stock Unit Agreement (service based/cliff) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.2 filed with the company’s Current Report on Form 8-K filed on January 29, 2024)
10.23			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 filed on January 30, 2017)
10.24			Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.3 filed with the company’s Current Report on Form 8-K filed on January 29, 2024)
10.25			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 filed on January 30, 2017)
10.26			Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2016 Stock Compensation Plan (incorporated by referenced to Exhibit 10.4 filed with the company’s Current Report on Form 8-K filed on January 29, 2024)
10.27			Form of Incentive Stock Option Agreement for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.1 filed with the company's Current Report on Form 8-K filed on January 31, 2025)
10.28			Form of Nonqualified Stock Option Agreement for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.2 filed with the company's Current Report on Form 8-K filed on January 31, 2025)
10.29			Form of Restricted Stock Unit Agreement (service based/cliff) for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.3 filed with the company's Current Report on Form 8-K filed on January 31, 2025)
10.30			Form of Restricted Stock Unit Agreement (service based/ratable) for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.4 filed with the company's Current Report on Form 8-K filed on January 31, 2025)
10.31			Form of Restricted Stock Unit Agreement (performance based) for the Cincinnati Financial Corporation 2024 Stock Compensation Plan (incorporated by reference to Exhibit 10.5 filed with the company's Current Report on Form 8-K filed on January 31, 2025)

Cincinnati Financial Corporation - 2025 10-K - Page 193

Exhibit No.			Exhibit Description
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 Annual Report on Form 10-K filed on February 23, 2018)
10.33			First Amendment to the Amended and Restated Cincinnati Financial Corporation Top Hat Savings Plan dated January 1, 2018 (incorporated by reference to Exhibit 10.1 filed with the company's Quarterly Report on Form 10-Q filed on July 25, 2024)
10.34			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 filed on October 27, 2011)
10.35			Credit Agreement dated October 10, 2025, by and among Cincinnati Financial Corporation and CFC Investment Company as borrowers, Fifth Third Bank, N.A. as administrative agent, and the other Lenders party thereto (incorporated by reference to Exhibit 10.1 filed with the company's Current Report on Form 8-K filed on October 10, 2025)
11			Statement re: Computation of per share earnings for the years ended December 31, 2025, 2024, and 2023, 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))
19			Cincinnati Financial Corporation Securities Trading Policy and Addendum to Securities Trading Policy for Pre-Clearance and Blackout Procedures (incorporated by reference to Exhibit 19 filed with the company's Annual Report on Form 10-K filed on February 26, 2024)
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
97			Cincinnati Financial Corporation Policy for The Recovery of Erroneously Awarded Compensation (incorporated by reference to Exhibit 97 filed with the company's Annual Report on Form 10-K filed on February 26, 2024)
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 - 2025 10-K - Page 194

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, Executive Vice President and Treasurer

(Principal Accounting Officer)

Date: February 23, 2026

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 of the Board			February 23, 2026
Steven J. Johnston
/S/ Stephen M. Spray			President, Chief Executive Officer and Director			February 23, 2026
Stephen M. Spray
/S/ Michael J. Sewell			Chief Financial Officer, Executive Vice President and Treasurer			February 23, 2026
Michael J. Sewell
/S/ Nancy C. Benacci			Director			February 23, 2026
Nancy C. Benacci
/S/ Linda W. Clement-Holmes			Director			February 23, 2026
Linda W. Clement-Holmes
/S/ Dirk J. Debbink			Director			February 23, 2026
Dirk J. Debbink
/S/ Jill P. Meyer			Director			February 23, 2026
Jill P. Meyer
/S/ David P. Osborn			Director			February 23, 2026
David P. Osborn
/S/ Gretchen W. Schar			Director			February 23, 2026
Gretchen W. Schar
/S/ Charles O. Schiff			Director			February 23, 2026
Charles O. Schiff
/S/ Douglas S. Skidmore			Director			February 23, 2026
Douglas S. Skidmore
/S/ John F. Steele, Jr.			Director			February 23, 2026
John F. Steele, Jr.
/S/ Larry R. Webb			Director			February 23, 2026
Larry R. Webb
/S/ Edward S. Wilkins			Director			February 23, 2026
Edward S. Wilkins
/S/ Chengsheng Peter Wu			Director			February 23, 2026
Chengsheng Peter Wu

Cincinnati Financial Corporation - 2025 10-K - Page 195