Company: CAG
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001104659-25-067959
Chunk: 45

Company: CONAGRA BRANDS INC.
Filing Date: 2025-07-15
Form: 424B5
Chunk 45
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 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 therefrom in excess of stated interest and principal to be incidental in the aggregate, and, therefore, we do not intend to treat the notes as CPDIs. Our determination that this contingency is remote and/or incidental in the aggregate will be binding on all Holders of the notes, except a Holder that discloses its differing treatment in a statement attached to its timely filed U.S. federal income tax return for the taxable year during which the relevant note was acquired. Our determination is not binding on the IRS, which may take a contrary position. You are urged to consult your own tax advisors regarding the potential application to the notes of the CPDI rules and the consequences thereof. The remainder of this discussion assumes the notes will not be treated as CPDIs.

#### Consequences to U.S. Holders
The following discussion is a summary of certain U.S. federal income tax consequences that will apply to you if you are a “U.S. Holder.” For purposes of this discussion, a “U.S. Holder” is a beneficial owner of a note that is, for U.S. federal income tax purposes:

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an individual who is a citizen or resident of the United States;

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a corporation (including any entity treated as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States, any state thereof or the District of Columbia;

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an estate the income of which is subject to U.S. federal income tax regardless of its source; or

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a trust that (x) is subject to primary supervision by