Proxy Statement 2022

Cincinnati Financial Corporation stands among the 25 largest property casualty insurers in the nation, based on net written premiums. A select group of independent agencies actively markets our business, home and auto insurance in 46 states. Within this select group, we also seek to become the life insurance carrier of choice and to help agents and their clients - our policyholders - by offering leasing and financing services.

Three competitive advantages distinguish your company, positioning us to build shareholder value and long-term success:

1. Commitment to our network of professional independent insurance agencies and to their continued success
2. Operating structure that supports local decision making, showcasing the strength of our field claims service, field underwriting and field support services
3. Financial strength to fulfill our promises and be a consistent market for our agents' business, supporting stability and confidence

Leamore about where we are today and where we are headed by reviewing our publications on cinfin.com/investors.

CINCINNATI

Independent agents who work with The Cincinnati Insurance Company appreciate the ease with which they can reach us. Finding value in direct access to associates from all areas of the company, we often hear, "I love that you answer the phone." However, we know it's more than just easily reaching a real person - it's reaching a person who can offer solutions and options. We've invested in talented associates who increase the capabilities we have

and the resources we provide to agents and their clients when they have unique or challenging insurance situations.

We answer the call for local independent insurance agents:

• offering a breadth of products that create flexibility in responding to the needs of business owners, from entrepreneurs just starting out to those operating multi-million dollar businesses, as well as both middle market and high net worth personal lines clients.
• connecting professional risk management associates to business leaders, large fleet operators, homeowners and collectors, helping them prevent loss or damage to their most important assets.
• responding with fast, fair and empathetic claims service, supporting our agents' reputations in their communities and making communities, businesses and families financially whole again.

2022 Annual Shareholder Meeting Notice

and Proxy Statement

March 24, 2022

To the Shareholders of Cincinnati Financial Corporation:

You are cordially invited to attend the Annual Meeting of Shareholders of Cincinnati Financial Corporation, which will take place at 9:30 a.m. on Saturday, May 7, 2022 at the Cincinnati Art Museum, located in Eden Park, Cincinnati, Ohio. The business to be conducted at the meeting includes:

1. Electing 13 directors for one-year terms;
2. Voting on a nonbinding proposal to approve compensation for the company's named executive officers;
3. Ratifying the selection of Deloitte & Touche LLP as the company's independent registered public accounting firm for 2022;
4. Transacting such other business as may properly come before the meeting.

Shareholders of record at the close of business on March 9, 2022, are entitled to vote at the meeting.

Whether or not you plan to attend the meeting, please cast your vote as promptly as possible. We encourage convenient online voting, which saves you and your company significant postage and processing costs. If you prefer, you may submit your vote by telephone or by mail. Detailed voting instructions can be found in the Frequently Asked Questions section on Page 72 of this proxy statement.

Thank you for your interest and participation in the affairs of the company.

/S/ Lisa A. Love

Lisa A. Love, Esq.

Senior Vice President, General Counsel and Corporate Secretary

This proxy statement, the 2021 Annual Report on Form 10-K, the 2022 Annual Letter to Shareholders and voting instructions were first made available to Cincinnati Financial Corporation shareholders on March 24, 2022.