|  |        |                                                                                |  |  |  |  |  |  |
|--|--------|--------------------------------------------------------------------------------|--|--|--|--|--|--|
|  | þ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|  |        |                                                                                    |  |  |  |  |  |  |
|--|--------|------------------------------------------------------------------------------------|--|--|--|--|--|--|
|  |  ̈ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

----

|                                  |                                                                                                                                                                                                                                                                                                                                                        |  |  |  |  |
|----------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|
| Items 1-3.                       | The information required by Items 1-3 is not required. See Item 4 below.                                                                                                                                                                                                                                                                               |
|                             |                                                                                                                                                                                                                                                                                                                                                   |
| Item 4.                          | The Cincinnati Financial Corporation Tax-Qualified Savings Plan is subject to the requirements of ERISA. In lieu of the requirements of Items 1-3 above, the Plan Financial Statements and Schedule prepared in accordance with the Financial Reporting requirements of ERISA are attached hereto and incorporated herein by reference. |
|                             |                                                                                                                                                                                                                                                                                                                                                   |
| Financial Statements and Exhibit |
|                             |                                                                                                                                                                                                                                                                                                                                                   |
| 23.1                             | Consent of Independent Registered Public Accounting Firm                                                                                                                                                                                                                                                                                               |
|                             |                                                                                                                                                                                                                                                                                                                                                   |
|                             | Financial statements as of and for the years ended December 31, 2022 and 2021, and supplemental schedule as of December 31, 2022.                                                                                                                                                                                                                      |

|                         |        |                                                                                               |  |  |  |  |  |  |
|-------------------------|--------|-----------------------------------------------------------------------------------------------|--|--|--|--|--|--|
|                    |   | Cincinnati Financial Corporation                                                              |
|                    |   | Tax-Qualified Savings Plan                                                                    |
|                    |   | (Name of Plan)                                                                                |
|                    |   |                                                                                          |
| DATE: June 20, 2023 |   | /S/ Michael J. Sewell                                                                 |
|                    |   | Michael J. Sewell, CPA                                                                        |
|                    |   | Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Treasurer |

----

----

|                                                                 |                                                                                                                            |        |  |  |  |  |  |  |
|-----------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------|--------|--|--|--|--|--|--|
|                                                                 |                                                                                                                       | Page   |
|                                                            |                                                                                                                       |   |
| Report of Independent Registered Public Accounting Firm         | 1                                                                                                                          |
|                                                            |                                                                                                                       |
| Financial Statements and Notes to the Financial Statements: |                                                                                                                            |
|                                                            |                                                                                                                       |
|                                                            | Statements of Net Assets Available for Benefits as of December 31, 2022 and 2021                                      | 2      |
|                                                            |                                                                                                                       |   |
|                                                            | Statements of Changes in Net Assets Available for Benefits for the Years Ended      December 31, 2022 and 2021        | 3      |
|                                                            |                                                                                                                       |   |
|                                                            | Notes to Financial Statements as of and for the Years Ended December 31, 2022 and 2021                                | 4      |
|                                                            |                                                                                                                       |   |
| Supplemental Schedule:                                      | 9                                                                                                                          |
|                                                            |                                                                                                                       |
|                                                            | Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets (Held at End of Year) as of December 31, 2022 | 10     |

|           |                                                                                                                                                                                                                                                        |  |  |  |  |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|
| NOTE: | All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable. |

----

----

|                                                                               |  |                 |                   |              |                 |   |                     |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------|--|-----------------|-------------------|--------------|-----------------|---|---------------------|--|--|--|--|--|--|--|
| CINCINNATI FINANCIAL CORPORATION                                              |  |            |                   |         |
| TAX-QUALIFIED SAVINGS PLAN                                                    |  |            |                   |         |
|                                                                               |  |                 |                   |              |
| STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS |  |            |                   |         |
|                                                                          |  | December 31,    |                   | December 31, |
|                                                                               |  | 2022            |                   | 2021         |
| Assets:                                                                   |  |            |                   |         |
| Participant-directed investments (at fair value)                              |  | $               | 883,490,038  |              |                 | $ | 1,061,649,239  |  |
| Notes receivable from participants                                            |  | 8,763,533  |                   |              | 8,431,632  |   |
| Interest and dividends receivable                                             |  | 326,720    |                   |              | 292,787    |   |
|                                                                               |  |                 |                   |              |
| Net assets available for benefits                                             |  | $               | 892,580,291  |              |                 | $ | 1,070,373,658  |  |
|                                                                               |  |                 |                   |              |
| Accompanying notes are an integral part of these financial statements.        |  |            |                   |         |

----

|                                                                        |  |                          |                   |        |                   |   |                     |  |  |  |  |  |  |  |
|------------------------------------------------------------------------|--|--------------------------|-------------------|--------|-------------------|---|---------------------|--|--|--|--|--|--|--|
| CINCINNATI FINANCIAL CORPORATION                                       |  |                     |                   |   |
| TAX-QUALIFIED SAVINGS PLAN                                             |  |                     |                   |   |
|                                                                        |  |                          |                   |        |
| STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS             |  |                     |
|                                                                        |  | Years ended December 31, |
|                                                                   |  | 2022                     |                   | 2021   |
| Additions:                                                         |  |                     |                   |   |
| Participant contributions (including rollovers of $7,081,564           |  |                     |                   |   |
| and $5,600,942 in 2022 and 2021, respectively)                         |  | $                        | 53,108,676   |        |                   | $ | 47,454,964     |  |
| Employer contributions                                                 |  | 24,194,871          |                   |        | 21,827,933   |   |
| Total contributions                                                    |  | 77,303,547          |                   |        | 69,282,897   |   |
|                                                                        |  |                          |                   |        |
| Net appreciation (depreciation) in fair value of investments           |  | (229,823,693)            |                   |        | 95,032,537   |   |
| Interest and dividend income                                           |  | 27,839,990          |                   |        | 55,909,618   |   |
| Total investment income                                                |  | (201,983,703)            |                   |        | 150,942,155  |   |
| Interest income on notes receivable from participants                  |  | 396,658             |                   |        | 411,582      |   |
| Total additions (subtractions)                                         |  | (124,283,498)            |                   |        | 220,636,634  |   |
|                                                                        |  |                          |                   |        |
| Deductions:                                                        |  |                          |                   |        |
|      Benefits paid to participants and other  |  | 52,984,229          |                   |        | 48,792,941   |   |
| Administrative expenses                                                |  | 525,640             |                   |        | 298,403      |   |
| Total deductions                                                       |  | 53,509,869          |                   |        | 49,091,344   |   |
|                                                                        |  |                          |                   |        |
|  Increase (decrease) in net assets                                |  | (177,793,367)            |                   |        | 171,545,290  |   |
| Net assets available for benefits:                                 |  |                     |                   |   |
| Beginning of year                                                      |  | 1,070,373,658       |                   |        | 898,828,368  |   |
| End of year                                                            |  | $                        | 892,580,291  |        |                   | $ | 1,070,373,658  |  |
|                                                                        |  |                          |                   |        |
| Accompanying notes are an integral part of these financial statements. |  |                     |                   |   |

----

|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| NOTES TO FINANCIAL STATEMENTS AS OF AND FOR THE |
| YEARS ENDED DECEMBER 31, 2022 AND 2021     |

----

----

----

|                                       |  |                                                               |                     |                                            |               |                                          |               |               |  |   |                   |  |  |   |                     |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------|--|---------------------------------------------------------------|---------------------|--------------------------------------------|---------------|------------------------------------------|---------------|---------------|--|---|-------------------|--|--|---|---------------------|--|--|--|--|--|--|--|--|--|--|--|
| At December 31, 2022                  |  | Quoted prices in active markets for identical assets(Level 1) |                     | Significantother observableinputs(Level 2) |               | Significant unobservable inputs(Level 3) |               | Total    |
| Registered investment companies:  |  |                                                          |                     |                                       |               |                                     |               |          |
| Large cap funds                       |  | $                                                             | 233,578,298    |                                            |               | $                                        | —  |               |  | $ | —      |  |  | $ | 233,578,298    |  |
| Mid cap funds                         |  | 132,042,222                                              |                     |                                            | —  |                                          |               | —  |  |   | 132,042,222  |  |
| Small cap funds                       |  | 35,062,626                                               |                     |                                            | —  |                                          |               | —  |  |   | 35,062,626   |  |
| Balanced funds                        |  | 267,146,565                                              |                     |                                            | —  |                                          |               | —  |  |   | 267,146,565  |  |
| Bond funds                            |  | 56,420,015                                               |                     |                                            | —  |                                          |               | —  |  |   | 56,420,015   |  |
| International funds                   |  | 54,843,449                                               |                     |                                            | —  |                                          |               | —  |  |   | 54,843,449   |  |
| Total registered investment companies |  | 779,093,175                                              |                     |                                            | —  |                                          |               | —  |  |   | 779,093,175  |  |
| Cincinnati Financial Stock Fund       |  | 48,487,401                                               |                     |                                            | —  |                                          |               | —  |  |   | 48,487,401   |  |
| Vanguard Federal Money Market Fund    |  | 30,593,654                                               |                     |                                            | —  |                                          |               | —  |  |   | 30,593,654   |  |
| Self-directed brokerage accounts      |  | 25,315,808                                               |                     |                                            | —  |                                          |               | —  |  |   | 25,315,808   |  |
| Total                                 |  | $                                                             | 883,490,038    |                                            |               | $                                        | —  |               |  | $ | —      |  |  | $ | 883,490,038    |  |
|                                       |  |                                                               |                     |                                            |               |                                          |               |               |
| At December 31, 2021                  |  |                                                               |                     |                                            |               |                                          |               |               |
| Registered investment companies:  |  |                                                          |                     |                                       |               |                                     |               |          |
| Large cap funds                       |  | $                                                             | 309,729,777    |                                            |               | $                                        | —  |               |  | $ | —      |  |  | $ | 309,729,777    |  |
| Mid cap funds                         |  | 168,510,148                                              |                     |                                            | —  |                                          |               | —  |  |   | 168,510,148  |  |
| Small cap funds                       |  | 39,542,941                                               |                     |                                            | —  |                                          |               | —  |  |   | 39,542,941   |  |
| Balanced funds                        |  | 303,037,735                                              |                     |                                            | —  |                                          |               | —  |  |   | 303,037,735  |  |
| Bond funds                            |  | 61,860,993                                               |                     |                                            | —  |                                          |               | —  |  |   | 61,860,993   |  |
| International funds                   |  | 71,074,278                                               |                     |                                            | —  |                                          |               | —  |  |   | 71,074,278   |  |
| Total registered investment companies |  | 953,755,872                                              |                     |                                            | —  |                                          |               | —  |  |   | 953,755,872  |  |
| Cincinnati Financial Stock Fund       |  | 52,952,875                                               |                     |                                            | —  |                                          |               | —  |  |   | 52,952,875   |  |
| Vanguard Federal Money Market Fund    |  | 27,046,270                                               |                     |                                            | —  |                                          |               | —  |  |   | 27,046,270   |  |
| Self-directed brokerage accounts      |  | 27,894,222                                               |                     |                                            | —  |                                          |               | —  |  |   | 27,894,222   |  |
| Total                                 |  | $                                                             | 1,061,649,239  |                                            |               | $                                        | —  |               |  | $ | —      |  |  | $ | 1,061,649,239  |  |
|                                       |  |                                                               |                     |                                            |               |                                          |               |               |

----

----

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|                                                |                                       |                                    |                  |                  |                   |                  |  |  |  |  |  |  |  |  |
|------------------------------------------------|---------------------------------------|------------------------------------|------------------|------------------|-------------------|------------------|--|--|--|--|--|--|--|--|
| CINCINNATI FINANCIAL CORPORATION               |                                       |                               |
| TAX-QUALIFIED SAVINGS PLAN                     |                                       |                                    |             |
|                                           |                                  |                                    |                  |             |
| FORM 5500, SCHEDULE H, PART IV, LINE 4i— |                                       |                               |
| SCHEDULE OF ASSETS (HELD AT END OF YEAR)       |                                       |                               |
| December 31, 2022                              |                                       |                                    |             |
|                                           | Identity of Issuer                    | Description of Investment          | Shares           | Current Value*** |
|                                                | Vanguard Federal Money Market Fund    | Interest bearing money market fund | 30,593,654  |                  | $                 | 30,593,654  |  |
|                                                |                                       |                                    |                  |                  |
| *                                              | Cincinnati Financial Corporation      | Common stock                       | 473,507     |                  | $                 | 48,482,340  |  |
|                                                | Stock Purchase Account                |                                    |                  | 5,061       |                   |
|                                                | Total Cincinnati Financial Stock Fund |                                    |                  | $                | 48,487,401   |                  |
|                                                |                                       |                                    |                  |                  |
| *                                              | Fidelity 500 Index Fund               | Registered investment company      | 585,340     |                  | $                 | 77,920,443  |  |
|                                                | Dodge & Cox Stock Fund            | Registered investment company      | 282,394     |                  | 60,915,222   |                  |
|                                                | T. Rowe Price Growth Stock            | Registered investment company      | 906,202     |                  | 55,930,769   |                  |
|                                                | Janus Henderson Enterprise            | Registered investment company      | 409,491     |                  | 49,716,308   |                  |
|                                                | T. Rowe Price New Horizons            | Registered investment company      | 733,888     |                  | 34,155,153   |                  |
| *                                              | Fidelity International Cap            | Registered investment company      | 2,367,571   |                  | 28,529,232   |                  |
| *                                              | Fidelity Contrafund                   | Registered investment company      | 1,648,021   |                  | 27,736,198   |                  |
|                                                | Vanguard Mid Cap Index Fund           | Registered investment company      | 483,819     |                  | 26,982,596   |                  |
|                                                | Artisan International Fund            | Registered investment company      | 1,095,057   |                  | 26,314,217   |                  |
|                                                | Vanguard Total Bond Market Index Fund | Registered investment company      | 2,744,954   |                  | 26,022,161   |                  |
| *                                              | Fidelity Total Bond Fund              | Registered investment company      | 2,970,623   |                  | 25,814,712   |                  |
|                                                | Vanguard Small Cap Index Fund         | Registered investment company      | 264,468     |                  | 23,254,635   |                  |
|                                                | Allspring Special Mid Cap             | Registered investment company      | 477,103     |                  | 21,188,165   |                  |
|                                                | Allspring Special Small Cap           | Registered investment company      | 332,339     |                  | 11,807,991   |                  |
|                                                | T. Rowe Price Equity Income Fund      | Registered investment company      | 339,120     |                  | 11,075,666   |                  |
|                                                | PIMCO Low Duration Fund               | Registered investment company      | 503,642     |                  | 4,583,142    |                  |
|                                                |                                       |                                    |                  |                  |
| *                                              | Fidelity Freedom Index 2005 Fund      | Registered investment company      | 47,097      |                  | 562,335      |                  |
| *                                              | Fidelity Freedom Index 2010 Fund      | Registered investment company      | 20,130      |                  | 241,155      |                  |
| *                                              | Fidelity Freedom Index 2015 Fund      | Registered investment company      | 245,498     |                  | 3,179,194    |                  |
| *                                              | Fidelity Freedom Index 2020 Fund      | Registered investment company      | 782,068     |                  | 11,027,161   |                  |
| *                                              | Fidelity Freedom Index 2025 Fund      | Registered investment company      | 2,081,123   |                  | 33,110,661   |                  |
| *                                              | Fidelity Freedom Index 2030 Fund      | Registered investment company      | 2,450,999   |                  | 41,176,790   |                  |
| *                                              | Fidelity Freedom Index 2035 Fund      | Registered investment company      | 2,569,027   |                  | 48,092,183   |                  |
| *                                              | Fidelity Freedom Index 2040 Fund      | Registered investment company      | 1,994,261   |                  | 37,811,184   |                  |
| *                                              | Fidelity Freedom Index 2045 Fund      | Registered investment company      | 1,939,667   |                  | 38,192,040   |                  |
| *                                              | Fidelity Freedom Index 2050 Fund      | Registered investment company      | 1,335,889   |                  | 26,343,732   |                  |
| *                                              | Fidelity Freedom Index 2055 Fund      | Registered investment company      | 979,094     |                  | 15,890,697   |                  |
| *                                              | Fidelity Freedom Index 2060 Fund      | Registered investment company      | 734,638     |                  | 10,093,929   |                  |
| *                                              | Fidelity Freedom Index 2065 Fund      | Registered investment company      | 91,464      |                  | 1,016,163    |                  |
| *                                              | Fidelity Freedom Index Income Fund    | Registered investment company      | 37,451      |                  | 409,341      |                  |
|                                           | Total registered investment company   |                                    |                  | $                | 779,093,175  |                  |
|                                           |                                  |                               |                  |                  |
|                                           | Self-directed brokerage accounts      | Various                            |                  | $                | 25,315,808   |                  |

----

|                                                |                                                                                                        |                           |        |                  |                   |  |  |  |  |  |  |  |  |  |
|------------------------------------------------|--------------------------------------------------------------------------------------------------------|---------------------------|--------|------------------|-------------------|--|--|--|--|--|--|--|--|--|
| CINCINNATI FINANCIAL CORPORATION               |                                                                                                        |                      |
| TAX-QUALIFIED SAVINGS PLAN                     |                                                                                                        |                           |   |
|                                           |                                                                                                   |                           |        |             |
| FORM 5500, SCHEDULE H, PART IV, LINE 4i— |                                                                                                        |                      |
| SCHEDULE OF ASSETS (HELD AT END OF YEAR)       |                                                                                                        |                      |
| December 31, 2022                              |                                                                                                        |                           |   |
|                                           | Identity of Issuer                                                                                     | Description of Investment | Shares | Current Value*** |
|                                           | Total participant-directed investments                                                                 |                           |        | $                | 883,490,038  |  |
|                                                |                                                                                                        |                           |        |                  |
| *                                              | Participant loans**                                                                                    |                      |        | $                | 8,763,533    |  |
|                                           |                                                                                                   |                      |        |             |
| *                                              | Party-in-interest                                                                                      |                      |        |             |
| **                                             | The interest rates on these loans range from 4.25% to 7.25%, with maturity dates through October 2037. |
| ***                                            | Cost information is not required for participant-directed investments and, therefore, is not included. |
|                                                |                                                                                                        |                           |        |                  |
|                                                | See Accompanying Report of Independent Registered Public Accounting Firm.                              |                           |