Cincinnati Financial

Investment and Balance Sheet Highlights 14% or $37 million increase in third-quarter 2025 pretax investment income, including a 21% increase in bond interest income and a 1% increase in stock portfolio dividends.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

Our value creation ratio, which considers the dividends we pay as well as our growth in book value, was 13.8% for the first nine months exceeding our 10% to 13% average annual target for this measure.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

$7.30 third-quarter 2025 increase in book value per share, including an addition of $2.88 of net income before investment gains and $5.51 from investment portfolio net investment gains or changes in unrealized gains for fixed-maturity securities that were partially offset by $0.22 for other items and $0.87 from dividends declared to shareholders.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

CINF 3Q25 Release 16 Cincinnati Financial Corporation Other Measures Value creation ratio This is a measure of shareholder value creation that management believes captures the contribution of the company s insurance operations, the success of its investment strategy and the importance placed on paying cash dividends to shareholders.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

The value creation ratio measure is made up of two primary components (1) rate of growth in book value per share plus (2) the ratio of dividends declared per share to beginning book value per share.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

Best Company Fitch Ratings Moody's Investor Service S P Global Ratings Cincinnati Financial Corporation Corporate Debt a A A3 BBB+ The Cincinnati Insurance Companies Insurer Financial Strength Property Casualty Group Standard Market Subsidiaries A+ AA- A1 A+ The Cincinnati Insurance Company A+ AA- A1 A+ The Cincinnati Indemnity Company A+ AA- A1 A+ The Cincinnati Casualty Company A+ AA- A1 A+ Surplus Lines Subsidiary The Cincinnati Specialty Underwriters Insurance Company A+ The Cincinnati Life Insurance Company A+ AA- A+ Ratings are as of October 24, 2025, under continuous review and subject to change and or affirmation.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

9% growth in third-quarter net written premiums, including price increases, premium growth initiatives and a higher level of insured exposures.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

More importantly, our results reflect the diligent execution of our deliberate strategies for profitable growth.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

We re supporting the advantages of our local independent agencies through additional risk management solutions and product expansion, such as adding to the capabilities available to our agents through our small business platform powered by Cinergy SM .

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

Change Current accident year before catastrophe losses 55.4 % 57.0 % (1.6) 57.4 % 58.6 % (1.2) Current accident year catastrophe losses 4.4 13.8 (9.4) 14.2 11.2 3.0 Prior accident years before catastrophe losses (0.2) (2.4) 2.2 (1.6) (2.2) 0.6 Prior accident years catastrophe losses (0.7) (0.8) 0.1 (0.9) (1.1) 0.2 Loss and loss expense ratio 58.9 % 67.6 % (8.7) 69.1 % 66.5 % 2.6 Current accident year combined ratio before catastrophe losses 84.7 % 86.8 % (2.1) 86.7 % 88.6 % (1.9) $200 million or 9% growth of third-quarter 2025 property casualty net written premiums, and nine-month growth of 10%, reflecting premium growth initiatives, price increases and a higher level of insured exposures.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

Management uses these measures when analyzing both GAAP and non-GAAP results to improve its understanding of trends in the underlying business and to help avoid incorrect or misleading assumptions and conclusions about the success or failure of company strategies.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

Any forward-looking statements contained herein, are based upon our current estimates, assumptions and plans that are subject to uncertainty.

SEC original ↗Cincinnati Financial — Earnings release (8-K exhibit)EX-99Oct 27, 2025

Legal Proceedings 71 Item 1A.

SEC original ↗Cincinnati Financial — 10-Q Quarterly report10-QOct 26, 2026

This uncertainty, together with the size of our reserves, makes the loss and loss expense reserves our most significant estimate.

SEC original ↗Cincinnati Financial — 10-Q Quarterly report10-QOct 26, 2026

Within commercial lines, we recognized favorable reserve development of $ 22 million for the commercial property line and $ 17 million for the workers' compensation line due to reduced uncertainty of prior accident year loss and loss adjustment expense for these lines.

SEC original ↗Cincinnati Financial — 10-Q Quarterly report10-QOct 26, 2026

Within commercial lines, we recognized favorable reserve development of $ 72 million for the commercial property line and $ 40 million for the workers' compensation line due to reduced uncertainty of prior accident year loss and loss adjustment expense for these lines.

SEC original ↗Cincinnati Financial — 10-Q Quarterly report10-QOct 26, 2026

Within commercial lines, we recognized favorable reserve development of $ 38 million for the commercial property line and $ 17 million for the workers' compensation line due to reduced uncertainty of prior accident year loss and loss adjustment expense for these lines.

SEC original ↗Cincinnati Financial — 10-Q Quarterly report10-QOct 26, 2026