Company: AFGC
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001140361-25-035246
Chunk: 22

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-09-17
Form: 424B5
Chunk 22
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 prospectus, the following changes cannot be made without your approval:

| • | change the place of payment; |

| • | change in the redemption price; |

| • | change in the date prior to which no redemption may be made; or |

| • | making the principal of, or premium, if any, or interest on the senior notes payable in anything other than United States dollars. |

About the Trustee U.S. Bank Trust Company, National Association is acting as trustee under the indenture. U.S. Bank Trust Company, National Association sometimes acts as trustee in connection with obligations issued by us and our subsidiaries and is currently acting as a trustee in connection with certain debt obligations that AFG previously

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issued. U.S. Bank Trust Company, National Association and its affiliates have, from time to time, performed and in the future may perform various commercial and investment banking services for AFG or its subsidiaries in the ordinary course of business, for which they received or will receive customary fees. U.S. Bank Trust Company, National Association is a lender under our revolving credit facility and its affiliate is acting as one of the underwriters in connection with this offering of senior notes.

Subject to the provisions of the Trust Indenture Act of 1939, as amended, the trustee is under no obligation to exercise any of its powers vested in it by the indenture at the request of any holder of the senior notes unless the holder offers the trustee reasonable indemnity satisfactory to it against the costs, expenses and liabilities which might result. The trustee is not required to expend or risk its own funds or otherwise incur any financial liability in performing its duties if the trustee reasonably believes that it is not reasonably assured of repayment or adequate indemnity.

#### Applicable Law
The indenture and senior notes offered for sale by this prospectus supplement will be governed by, and construed in accordance with, the laws of the State of New York, without regard to the conflicts of laws rules of such state.

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TABLE OF CONTENTS

MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS The following discussion summarizes the material U.S. federal tax consequences of the ownership and disposition of the senior notes. This summary:

| • | is based on the Internal Revenue Code of 1986, as amended (the “Code”), U.S. Treasury regulations issued under the Code, judicial decisions and administrative pronouncements, all as in effect on the date