A Dark Vector Cognition product

Item 1A. Risk Factors

3K characters. Original on sec.gov ·

Item 1A. Risk Factors

Our risk factors have not changed materially since they were described in our 2024 Annual Report on Form 10-K filed February 24, 2025. Investors should not interpret the disclosure of a risk to imply that the risk has not already materialized.

More recently, changes in international trade regulation or foreign trade policy, including tariffs, could lead to higher than anticipated inflation and supply chain disruption, which impacts personal and commercial insurance loss costs and premiums.

Cincinnati Financial Corporation Second-Quarter 2025 10-Q

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

We did not sell any of our shares that were not registered under the Securities Act during the first six months of 2025. Our repurchase program does not have an expiration date. On January 26, 2018, an additional 15 million shares were authorized, which expanded our current repurchase program. We have 5,314,506 shares available for purchase under our programs at June 30, 2025.

PeriodTotal number of shares purchasedAverage price paid per shareTotal number of shares purchased as part of publicly announced plans or programsMaximum number of shares that may yet be purchased under the plans or programs
April 1-30, 2025—$——5,314,506
May 1-31, 2025———5,314,506
June 1-30, 2025———5,314,506
Totals———

Cincinnati Financial Corporation Second-Quarter 2025 10-Q

Page 73

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