Company: AFGC
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001140361-25-035246
Chunk: 24

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-09-17
Form: 424B5
Chunk 24
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 notes, the tax treatment of a partner in the partnership generally will depend on the status of the partner and the activities of the partnership. If you are a partnership or a partner in a partnership holding senior notes, you should consult your tax advisor regarding the tax consequences of the ownership and disposition of the senior notes. Prospective investors should consult their own tax advisors with regard to the tax consequences to them in light of their particular situation and the application of any other U.S. federal as well as state, local, or non-U.S. tax laws, including gift and estate tax laws, and tax treaties. Material U.S. Federal Income Tax Consequences to U.S. Holders The following is a summary of the material U.S. federal income tax consequences of the ownership and disposition of the senior notes by a “U.S. Holder.” For purposes of this summary, “U.S. Holder” means a beneficial owner of a senior note that is for U.S. federal income tax purposes:

| • | an individual citizen or resident of the United States, including an alien individual who is a lawful permanent resident of the United States or who meets the “substantial presence” test under Section 7701(b) of the Code; |

| • | a corporation (or other entity taxable 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; |

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

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| • | a trust if (i) a court within the United States is able to exercise primary supervision over its administration and one or more U.S. persons (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all of its substantial decisions of such trust, or (ii) the trust has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person for U.S. federal income tax purposes. |

Treatment of Stated Interest It is expected (and this disclosure assumes) that the senior notes will be treated as issued at par for U.S. federal income tax purposes. Accordingly, stated interest on a senior note generally will be taxable to a U.S. Holder as ordinary interest income at the time such amounts are accrued or received, in accordance with the U.S. Holder’s method of accounting for U.S.