Company: CAG
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001104659-25-067959
Chunk: 2

Company: CONAGRA BRANDS INC.
Filing Date: 2025-07-15
Form: 424B5
Chunk 2
---
 The underwriters expect to deliver the notes to purchasers through the book-entry delivery system of The Depository Trust Company (“DTC”) for the benefit of its participants, including Euroclear Bank SA/NV (“Euroclear”) and Clearstream Banking S.A. (“Clearstream”) on or about July , 2025, which is the business day following the date of this prospectus supplement. Purchasers of the notes should note that trading of the notes may be affected by this settlement date. See “Underwriting (Conflicts of Interest)” beginning on page S-31of this prospectus supplement. Joint Book-Running Managers

| ​ | BofA Securities | ​ | ​ | Goldman Sachs & Co. LLC | ​ | ​ | Mizuho | ​ |

The date of this prospectus supplement is July , 2025.

TABLE OF CONTENTS

TABLE OF CONTENTS Prospectus Supplement

| ​                                                             | ​ | ​ | Page |   |       |   | ​ |
| About This Prospectus Supplement                              | ​ | ​ | ​    | ​ | S-ii  | ​ | ​ |
| Where You Can Find More Information                           | ​ | ​ | ​    | ​ | S-ii  | ​ | ​ |
| Information We Incorporate by Reference                       | ​ | ​ | ​    | ​ | S-ii  | ​ | ​ |
| Notice to Prospective Investors in the European Economic Area | ​ | ​ | ​    | ​ | S-iii | ​ | ​ |
| Notice to Prospective Investors in the United Kingdom         | ​ | ​ | ​    | ​ | S-iii | ​ | ​ |
| Disclosure Regarding Forward-Looking Statements               | ​ | ​ | ​    | ​ | S-v   | ​ | ​ |
| Summary                                                       | ​ | ​ | ​    | ​ | S-1   | ​ | ​ |
| Conagra Brands Summary Consolidated Financial Data            | ​ | ​ | ​    | ​ | S-5   | ​ | ​ |
| Risk Factors                                                  | ​ | ​ | ​    | ​ | S-6   | ​ | ​ |
| Use of Proceeds                                               | ​ | ​ | ​    | ​ | S-9   | ​ | ​ |
| Capitalization                                                | ​ | ​ | ​    | ​ | S-10  | ​ | ​ |
| Description of Notes                                          | ​ | ​ | ​    | ​ | S-11  | ​ | ​ |
|