2nd Quarter 2024 Earnings Presentation

Review of

Second Quarter 2024

August 7, 2024

2024 Second Quarter Consolidated Results

Dollars in millions, except per share data

Three Months Ended

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2024 Second Quarter Consolidated Results (continued)

Dollars in millions, except per share data

1 Included in this amount is $2 million ($0.02 per share loss) in after-tax net losses to adjust equity securities that the Company continued to own at June 30, 2024, to fair value.

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Investments

• Total carrying value of AFG's investment portfolio at June 30, 2024 = $15.3 billion
• P&C net investment income down 1% YOY; up 15% excluding alternative investments
• • second quarter 2024 annualized retuof 5.1% on $2.6 billion of alternative investments
• Second quarter after-tax net realized losses on securities of $2 million
• • includes $2 million in after-tax net realized losses to adjust equity securities that the company continued to own at June 30, 2024, to fair value through earnings

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1. The ratio is calculated by dividing the principal amount of AFG's long-term debt by its total capital, which includes long-term debt and shareholders' equity, excluding AOCI.
2. Excludes AOCI, goodwill and intangibles.

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1 Calculated as a percentage change for dollars and an arithmetic difference for percentages.

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Specialty P&C Group

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