AMERICAN FINANCIAL GROUP INC

Not applicable.

Part II

AFG Common Stock is listed and traded on the New York Stock Exchange under the symbol AFG. There were approximately 4,400 shareholders of record of AFG Common Stock at February 1, 2024.

Issuer Purchases of Equity Securities

AFG repurchased shares of its Common Stock during 2023 as follows:

(a)AFG declared special dividends totaling $5.50 per share of its Common Stock in 2023. Adjusted for the special dividends, the average price paid per share was $111.56 for 2023. In addition, at December 31, 2023, AFG has a $2 million payable related to the excise tax on share repurchases that was enacted January 1, 2023.

(b)Represents the remaining shares that may be repurchased until December 31, 2025 under the Plans authorized by AFG’s Board of Directors in October 2020 and May 2021.

AFG acquired 56,629 shares of its Common Stock (at an average of $131.98 per share) in the first nine months of 2023, 7,363 shares (at an average of $112.70 per share) in October 2023 and 68 shares (at $109.84 per share) in November 2023 in connection with its stock incentive plans.

Stock Performance Graph

The following graph compares the performance of AFG Common Stock during the five year period from December 31, 2018 through December 31, 2023 with the performance of (i) the S&P 500 Composite Stock Index (“S&P 500 Index”) and (ii) the S&P 500 Property & Casualty Insurance Index. The graph assumes that an initial investment of $100 was made on December 31, 2018 and all dividends were reinvested. The stock price performance presented below is not intended to be indicative of future price performance.

(a)Cumulative total shareholder return measures the performance of a company’s stock (or an index) over time and is calculated as the change in the stock price plus cumulative dividends (assuming dividends are reinvested) over a specific period of time divided by the stock price at the beginning of the time period.

(b)The S&P 500 Property & Casualty Insurance Index included the following companies at December 31, 2023 (weighted by market capitalization): The Allstate Corporation, Arch Capital Group Ltd., Chubb Limited, Cincinnati Financial Corporation, The Hartford Financial Services Group, Inc., Loews Corporation, The Progressive Corporation, The Travelers Companies, Inc. and W.R. Berkley Corporation.