Company: AFGC
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012231
Chunk: 53

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 53
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1)     |     | Annual ROE    |     | Award as      
 Percentage of 
 Target(1)     |     | ​Relative Annual 
            GBVPS |     | Award as      
 Percentage of 
 Target(1)     |
| Less than $8.80 |     | 0%            |     | Less than 12% |     | 0%            |     |               -3 |     | 0%            |
| $8.80           |     | 20%           |     | 12%           |     | 20%           |     |               -3 |     | 20%           |
| $11.00          |     | 100%          |     | 16%           |     | 100%          |     |               -3 |     | 100%          |
| $12.10 or more  |     | Maximum(2)    |     | 20% or more   |     | Maximum(2)    |     |               -3 |     | Maximum(2)    |

| (1) | Where results for any metric fell within performance ranges, the award for the component was to be determined by straight-line interpolation rounded up to the nearest dollar. |

| (2) | 150% for the Co-CEOs, 140% for Mr. Berding, and 125% for Mr. Hertzman and Mr. Weiss. |

| (3) | The Company’s annual GBVPS must be in the top third of the Compensation Peer Group to earn a target award. A maximum award is earned only in the event that the Company is first among all Compensation Peer Group companies in annual GBVPS. |

For Mr. Hertzman and Mr. Weiss, 40% of the annual cash target award was determined under the discretionary component by the Co-CEOs based on the Co-CEOs’ evaluation of the NEOs relative to overall performance for 2024. The determination for Mr. Hertzman

| 2025 Proxy Statement | American Financial Group51 |

TABLE OF CONTENTS Compensation Discussion and Analysis

and Mr. Weiss included a consideration of all factors deemed relevant, including, but not limited to, operational, qualitative measurements relating to the development and implementation of strategic initiatives and annual objectives; responses to unexpected developments; the development of management personnel; and the impact of any extraordinary transactions involving or affecting the Company and its subsidiaries. Annual Bonus Plan – 2024 Component Results