Cincinnati Financial (CINF) investor relations material

Executive summary

• Achieved record-high book value per share of $102.35 at year-end 2025, up 15% from 2024, and consolidated property casualty net written premiums surpassed $10 billion for the first time.

• Returned $730 million to shareholders in 2025 through share repurchases and $3.42 per share in dividends, with a value creation ratio of 18.8%, exceeding the 10%-13% target.

• Maintained 14 consecutive years of underwriting profit, with a five-year average combined ratio of 93.9%, outperforming the industry average.

• Expanded product offerings and agency network, appointing 420 new agencies in 2025 and launching new solutions in small business, management liability, and excess lines.

• Recognized by Forbes as one of America's Best Insurance Companies and won a gold award for crisis response in 2025.

Voting matters and shareholder proposals

• Shareholders will vote on the election of 14 directors, approval of amended and restated articles of incorporation, a nonbinding shareholder proposal, a nonbinding say-on-pay proposal, and ratification of Deloitte & Touche LLP as auditor for 2026.

• Board recommends voting FOR all director nominees, FOR proposals 2, 4, and 5, and AGAINST proposal 3.

Board of directors and corporate governance

• Board nominees include 14 individuals, with leadership continuity highlighted by Steven J. Johnston as Chairman and Stephen M. Spray as President and CEO.

• Emphasis on agency-focused strategy and continuous improvement culture.