Company: CAG
Filing Date: 2025-07-16
Form Type: 424B5
Source: 0001104659-25-068390
Chunk: 44

Company: CONAGRA BRANDS INC.
Filing Date: 2025-07-16
Form: 424B5
Chunk 44
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;

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persons deemed to sell the notes under the constructive sale provisions of the Code;

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entities that are tax-exempt for U.S. federal income tax purposes; and

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entities treated as partnerships for U.S. federal income tax purposes, other pass-through entities, and holders of interests therein.

**If an entity or arrangement treated as a partnership for U.S. federal income tax purposes holds the notes, the U.S. federal income tax treatment of a partner in such partnership generally will depend upon the status of the partner and the activities of the partnership. If you are a partnership or a partner in a partnership that will hold the notes, you are urged to consult your own tax advisor regarding the tax consequences to you of purchasing, owning and disposing of such notes.

This summary of certain U.S. federal income tax considerations is for general information only and is not tax advice. You are urged to consult your tax advisor with respect to the application of U.S. federal income tax**

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**TABLE OF CONTENTS

laws to your particular situation as well as any tax considerations arising under other U.S. federal tax laws (such as the estate or gift tax laws) or under the laws of any state, local, non-U.S. or other taxing jurisdiction or under any applicable tax treaty.**

#### Effect of Certain Contingencies
In certain circumstances, we may become obligated to make payments on the notes in excess of stated interest and principal. For example, as described above under “Description of Notes — Change of Control Offer,” in the event a Change of Control Triggering Event occurs, unless we have exercised our option to redeem the notes, we will be required to offer to repurchase each series of notes prior to their maturity date for an amount equal to 101% of the principal amount of any note, plus accrued and unpaid interest to, but not including the date of repurchase. The obligation to make these payments may implicate Treasury Regulations relating to “contingent payment debt instruments” (“CPDIs”) which, if applicable, could cause the timing, amount and character of a Holder’s income, gain or loss with respect to its notes to be different from the consequences discussed below. However, for purposes of determining whether a debt instrument is a CPDI, contingencies that are “remote” or incidental (determined as of the date of issuance) are ignored. We believe the possibility of a Change of Control Triggering Event to be remote and/or the payments that would result there