|  |        |                                                                                |  |  |  |  |  |  |
|--|--------|--------------------------------------------------------------------------------|--|--|--|--|--|--|
|  | 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, 2023 and 2022, and supplemental schedule as of December 31, 2023.                                                                                                                                                                                                                      |

|                         |        |                                                                                               |  |  |  |  |  |  |
|-------------------------|--------|-----------------------------------------------------------------------------------------------|--|--|--|--|--|--|
|                    |   | Cincinnati Financial Corporation                                                              |
|                    |   | Tax-Qualified Savings Plan                                                                    |
|                    |   | (Name of Plan)                                                                                |
|                    |   |                                                                                          |
| DATE: June 18, 2024 |   | /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, 2023 and 2022                                      | 2      |
|                                                            |                                                                                                                       |   |
|                                                            | Statements of Changes in Net Assets Available for Benefits for the Years Ended      December 31, 2023 and 2022        | 3      |
|                                                            |                                                                                                                       |   |
|                                                            | Notes to Financial Statements as of and for the Years Ended December 31, 2023 and 2022                                | 4      |
|                                                            |                                                                                                                       |   |
| Supplemental Schedule:                                      | 9                                                                                                                          |
|                                                            |                                                                                                                       |
|                                                            | Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets (Held at End of Year) as of December 31, 2023 | 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, |
|                                                                               |  | 2023            |                     | 2022         |
| Assets:                                                                   |  |            |                     |         |
| Participant-directed investments (at fair value)                              |  | $               | 1,082,605,346  |              |                 | $ | 883,490,038  |  |
| Notes receivable from participants                                            |  | 9,524,973  |                     |              | 8,763,533  |   |
| Interest and dividends receivable                                             |  | 362,989    |                     |              | 326,720    |   |
|                                                                               |  |                 |                     |              |
| Net assets available for benefits                                             |  | $               | 1,092,493,308  |              |                 | $ | 892,580,291  |  |
|                                                                               |  |                 |                     |              |
| 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, |
|                                                                   |  | 2023                     |                     | 2022   |
| Additions:                                                         |  |                     |                     |   |
| Participant contributions (including rollovers of $7,855,796           |  |                     |                     |   |
| and $7,081,564 in 2023 and 2022, respectively)                         |  | $                        | 56,915,047     |        |                     | $ | 53,108,676   |  |
| Employer contributions                                                 |  | 26,334,611          |                     |        | 24,194,871     |   |
| Total contributions                                                    |  | 83,249,658          |                     |        | 77,303,547     |   |
|                                                                        |  |                          |                     |        |
| Net appreciation (depreciation) in fair value of investments           |  | 141,662,778         |                     |        | (229,823,693)       |   |
| Interest and dividend income                                           |  | 27,249,890          |                     |        | 27,839,990     |   |
| Total investment income (loss)                                         |  | 168,912,668         |                     |        | (201,983,703)       |   |
| Interest income on notes receivable from participants                  |  | 523,264             |                     |        | 396,658        |   |
| Total additions (subtractions)                                         |  | 252,685,590         |                     |        | (124,283,498)       |   |
|                                                                        |  |                          |                     |        |
| Deductions:                                                        |  |                          |                     |        |
|      Benefits paid to participants and other  |  | 52,084,827          |                     |        | 52,984,229     |   |
| Administrative expenses                                                |  | 687,746             |                     |        | 525,640        |   |
| Total deductions                                                       |  | 52,772,573          |                     |        | 53,509,869     |   |
|                                                                        |  |                          |                     |        |
|  Increase (decrease) in net assets                                |  | 199,913,017         |                     |        | (177,793,367)       |   |
| Net assets available for benefits:                                 |  |                     |                     |   |
| Beginning of year                                                      |  | 892,580,291         |                     |        | 1,070,373,658  |   |
| End of year                                                            |  | $                        | 1,092,493,308  |        |                     | $ | 892,580,291  |  |
|                                                                        |  |                          |                     |        |
| Accompanying notes are an integral part of these financial statements. |  |                     |                     |   |

----

|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| NOTES TO FINANCIAL STATEMENTS AS OF AND FOR THE |
| YEARS ENDED DECEMBER 31, 2023 AND 2022     |

----

----

----

|                                                                                                                    |  |                                                               |                     |                                            |               |                                          |               |               |  |   |                   |  |  |   |                     |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------------------------------------------------|--|---------------------------------------------------------------|---------------------|--------------------------------------------|---------------|------------------------------------------|---------------|---------------|--|---|-------------------|--|--|---|---------------------|--|--|--|--|--|--|--|--|--|--|--|
| At December 31, 2023                                                                                               |  | 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                                                                                                    |  | $                                                             | 307,543,846    |                                            |               | $                                        | —  |               |  | $ | —      |  |  | $ | 307,543,846    |  |
| Mid cap funds                                                                                                      |  | 146,223,961                                              |                     |                                            | —  |                                          |               | —  |  |   | 146,223,961  |  |
| Small cap funds                                                                                                    |  | 43,778,494                                               |                     |                                            | —  |                                          |               | —  |  |   | 43,778,494   |  |
| Balanced funds                                                                                                     |  | 332,414,452                                              |                     |                                            | —  |                                          |               | —  |  |   | 332,414,452  |  |
| International funds                                                                                                |  | 69,041,910                                               |                     |                                            | —  |                                          |               | —  |  |   | 69,041,910   |  |
| Bond funds                                                                                                         |  | 67,147,799                                               |                     |                                            | —  |                                          |               | —  |  |   | 67,147,799   |  |
| Total registered investment companies                                                                              |  | 966,150,462                                              |                     |                                            | —  |                                          |               | —  |  |   | 966,150,462  |  |
| Cincinnati Financial Stock Fund:                                                                               |  |                                                               |                     |                                            |               |                                          |               |               |
|   Cincinnati Financial Corporation Common Stock                                                          |  | 50,073,072                                               |                     |                                            | —  |                                          |               | —  |  |   | 50,073,072   |  |
|   Stock Purchase Account - Fidelity Government                    Cash Reserves Fund |  | 6,689                                                    |                     |                                            | —  |                                          |               | —  |  |   | 6,689        |  |
|        Total Cincinnati Financial Stock Fund                                    |  | 50,079,761                                               |                     |                                            | —  |                                          |               | —  |  |   | 50,079,761   |  |
| Vanguard Federal Money Market Fund                                                                                 |  | 37,145,685                                               |                     |                                            | —  |                                          |               | —  |  |   | 37,145,685   |  |
| Self-directed brokerage accounts                                                                                   |  | 29,229,438                                               |                     |                                            | —  |                                          |               | —  |  |   | 29,229,438   |  |
| Total                                                                                                              |  | $                                                             | 1,082,605,346  |                                            |               | $                                        | —  |               |  | $ | —      |  |  | $ | 1,082,605,346  |  |
|                                                                                                                    |  |                                                               |                     |                                            |               |                                          |               |               |
| At December 31, 2022                                                                                               |  |                                                               |                     |                                            |               |                                          |               |               |
| 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  |  |
| International funds                                                                                                |  | 54,843,449                                               |                     |                                            | —  |                                          |               | —  |  |   | 54,843,449   |  |
| Bond funds                                                                                                         |  | 56,420,015                                               |                     |                                            | —  |                                          |               | —  |  |   | 56,420,015   |  |
| 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    |  |
|                                                                                                                    |  |                                                               |                     |                                            |               |                                          |               |               |

----

----

----

|                                                |                                                                 |                                    |                  |                  |                   |                  |  |  |  |  |  |  |  |  |
|------------------------------------------------|-----------------------------------------------------------------|------------------------------------|------------------|------------------|-------------------|------------------|--|--|--|--|--|--|--|--|
| 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, 2023                              |                                                                 |                                    |             |
|                                           | Identity of Issuer                                              | Description of Investment          | Shares           | Current Value*** |
|                                                | Vanguard Federal Money Market Fund                              | Interest bearing money market fund | 37,145,685  |                  | $                 | 37,145,685  |  |
|                                                |                                                                 |                                    |                  |                  |
| *                                              | Cincinnati Financial Corporation                                | Common stock                       | 483,985     |                  | $                 | 50,073,072  |  |
| *                                              | Stock Purchase Account - Fidelity Government Cash Reserves Fund |                                    |                  | 6,689       |                   |
|                                                | Total Cincinnati Financial Stock Fund                           |                                    |                  | $                | 50,079,761   |                  |
|                                                |                                                                 |                                    |                  |                  |
| *                                              | Fidelity 500 Index Fund                                         | Registered investment company      | 522,288     |                  | $                 | 86,433,500  |  |
|                                                | Dodge & Cox Stock Fund                                      | Registered investment company      | 305,141     |                  | 74,320,045   |                  |
|                                                | T. Rowe Price Growth Stock                                      | Registered investment company      | 833,219     |                  | 72,365,084   |                  |
| *                                              | Fidelity Contrafund                                             | Registered investment company      | 2,698,893   |                  | 62,209,481   |                  |
|                                                | Janus Henderson Enterprise                                      | Registered investment company      | 430,987     |                  | 57,299,702   |                  |
| *                                              | Fidelity International Cap                                      | Registered investment company      | 2,841,968   |                  | 43,482,117   |                  |
|                                                | T. Rowe Price New Horizons                                      | Registered investment company      | 673,229     |                  | 38,064,376   |                  |
|                                                | Vanguard Total Bond Market Index Fund                           | Registered investment company      | 3,558,980   |                  | 34,557,695   |                  |
|                                                | Vanguard Mid Cap Index Fund                                     | Registered investment company      | 493,468     |                  | 31,404,311   |                  |
| *                                              | Fidelity Total Bond Fund                                        | Registered investment company      | 3,065,550   |                  | 27,314,047   |                  |
|                                                | Artisan International Fund                                      | Registered investment company      | 949,120     |                  | 25,559,793   |                  |
|                                                | Vanguard Small Cap Index Fund                                   | Registered investment company      | 247,544     |                  | 25,296,482   |                  |
|                                                | Allspring Special Mid Cap                                       | Registered investment company      | 422,855     |                  | 19,455,572   |                  |
|                                                | Allspring Special Small Cap                                     | Registered investment company      | 447,723     |                  | 18,482,012   |                  |
|                                                | T. Rowe Price Equity Income Fund                                | Registered investment company      | 363,131     |                  | 12,215,736   |                  |
|                                                | PIMCO Low Duration Fund                                         | Registered investment company      | 573,484     |                  | 5,276,057    |                  |
|                                                |                                                                 |                                    |                  |                  |
| *                                              | Fidelity Freedom Index 2005 Fund                                | Registered investment company      | 50,327      |                  | 633,616      |                  |
| *                                              | Fidelity Freedom Index 2010 Fund                                | Registered investment company      | 18,213      |                  | 232,029      |                  |
| *                                              | Fidelity Freedom Index 2015 Fund                                | Registered investment company      | 230,101     |                  | 3,232,926    |                  |
| *                                              | Fidelity Freedom Index 2020 Fund                                | Registered investment company      | 591,773     |                  | 9,178,399    |                  |
| *                                              | Fidelity Freedom Index 2025 Fund                                | Registered investment company      | 1,982,691   |                  | 35,093,638   |                  |
| *                                              | Fidelity Freedom Index 2030 Fund                                | Registered investment company      | 2,550,791   |                  | 48,235,457   |                  |
| *                                              | Fidelity Freedom Index 2035 Fund                                | Registered investment company      | 2,767,573   |                  | 59,502,829   |                  |
| *                                              | Fidelity Freedom Index 2040 Fund                                | Registered investment company      | 2,267,936   |                  | 50,348,187   |                  |
| *                                              | Fidelity Freedom Index 2045 Fund                                | Registered investment company      | 2,163,688   |                  | 50,111,026   |                  |
| *                                              | Fidelity Freedom Index 2050 Fund                                | Registered investment company      | 1,489,333   |                  | 34,552,517   |                  |
| *                                              | Fidelity Freedom Index 2055 Fund                                | Registered investment company      | 1,220,700   |                  | 23,303,167   |                  |
| *                                              | Fidelity Freedom Index 2060 Fund                                | Registered investment company      | 933,364     |                  | 15,092,500   |                  |
| *                                              | Fidelity Freedom Index 2065 Fund                                | Registered investment company      | 182,172     |                  | 2,380,989    |                  |
| *                                              | Fidelity Freedom Index Income Fund                              | Registered investment company      | 44,971      |                  | 517,172      |                  |
|                                           | Total registered investment company                             |                                    |                  | $                | 966,150,462  |                  |
|                                           |                                                            |                               |                  |                  |

----

|                                                |                                                                                                        |                           |        |                  |                     |  |  |  |  |  |  |  |  |  |
|------------------------------------------------|--------------------------------------------------------------------------------------------------------|---------------------------|--------|------------------|---------------------|--|--|--|--|--|--|--|--|--|
| 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, 2023                              |                                                                                                        |                           |   |
|                                           | Identity of Issuer                                                                                     | Description of Investment | Shares | Current Value*** |
|                                           | Self-directed brokerage accounts                                                                       | Various                   |        | $                | 29,229,438     |  |
|                                           | Total participant-directed investments                                                                 |                           |        | $                | 1,082,605,346  |  |
|                                                |                                                                                                        |                           |        |                  |
| *                                              | Participant loans**                                                                                    |                      |        | $                | 9,524,973      |  |
|                                           |                                                                                                   |                      |        |             |
| *                                              | Party-in-interest                                                                                      |                      |        |             |
| **                                             | The interest rates on these loans range from 4.25% to 9.50%, with maturity dates through August 2038.  |
| ***                                            | Cost information is not required for participant-directed investments and, therefore, is not included. |
|                                                |                                                                                                        |                           |        |                  |
|                                                | See Accompanying Report of Independent Registered Public Accounting Firm.                              |                           |