Company: CAG
Filing Date: 2025-07-16
Form Type: 424B5
Source: 0001104659-25-068390
Chunk: 21

Company: CONAGRA BRANDS INC.
Filing Date: 2025-07-16
Form: 424B5
Chunk 21
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 ​ |
| Cash and cash equivalents                             | ​ | ​ | ​                    | $ |     68.0 | ​ | ​ |
| Senior long-term debt, excluding current installments | ​ | ​ | ​                    | $ |  6,234.1 | ​ | ​ |
| Current installments of long-term debt(1)             | ​ | ​ | ​                    | ​ |  1,028.8 | ​ | ​ |
| Subordinated debt                                     | ​ | ​ | ​                    | ​ |        — | ​ | ​ |
| Notes payable(2)                                      | ​ | ​ | ​                    | ​ |    804.7 | ​ | ​ |
| Total debt                                            | ​ | ​ | ​                    | ​ |  8,067.6 | ​ | ​ |
| Total stockholders’ equity                            | ​ | ​ | ​                    | ​ |  8,932.7 | ​ | ​ |
| Total capitalization                                  | ​ | ​ | ​                    | $ | 17,000.3 | ​ | ​ |

(1) Includes $1.0 billion aggregate principal amount of the 2025 Senior Notes. We intend to use the net proceeds from this offering for general corporate purposes, including the repayment of a portion of our outstanding 2025 Senior Notes. See “Use of Proceeds.” (2) Includes $259.0 million of borrowings outstanding under our commercial paper program as of May 25, 2025.

S-10

TABLE OF CONTENTS

### DESCRIPTION OF NOTES
You can find the definitions of certain terms used in this description under the subheadings “Optional Redemption” and “Certain Covenants — Certain Definitions Relating to Certain Covenants.” In this “Description of Notes,” the terms “we,” “us,” “our,” “Conagra,” the “Company” or other similar terms means Conagra Brands, Inc. and not any of its subsidiaries, unless we state otherwise or the context indicates otherwise.

#### General
Each of the 2030 Notes and the 2035 Notes will be issued under an indenture, dated as of August 12, 2021, between us and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as previously supplemented and as supplemented by a supplemental indenture to be entered into between us and the Trustee in connection with this offering (the indenture as so supplemented, the “indenture”). The terms