Exhibit 99.2 American Financial Group, Inc. Investor Supplement - First Quarter 2024 May 1, 2024 American Financial Group, Inc. Corporate Headquarters Great American Insurance Group Tower 301 E Fourth Street Cincinnati, OH 45202 513 579 6739

American Financial Group, Inc. Table of Contents - Investor Supplement - First Quarter 2024 1 Section Page Table of Contents - Investor Supplement - First Quarter 2024....................................................................................................................... 2 Financial Highlights......................................................................................................................................................................................... 3 Summary of Earnings...................................................................................................................................................................................... 4 Earnings Per Share Summary......................................................................................................................................................................... 5 Property and Casualty Insurance Segment Property and Casualty Insurance - Summary Underwriting Results (GAAP).................................................................................................. 6 Specialty - Underwriting Results (GAAP)........................................................................................................................................................ 7 Property and Transportation - Underwriting Results (GAAP).......................................................................................................................... 8 Specialty Casualty - Underwriting Results (GAAP)......................................................................................................................................... 9 Specialty Financial - Underwriting Results (GAAP)......................................................................................................................................... 10 Other Specialty - Underwriting Results (GAAP).............................................................................................................................................. 11 Consolidated Balance Sheet / Book Value / Debt Consolidated Balance Sheet........................................................................................................................................................................... 12 Book Value Per Share and Price / Book Summary......................................................................................................................................... 13 Capitalization................................................................................................................................................................................................... 14 Additional Supplemental Information............................................................................................................................................................... 15 Consolidated Investment Supplement Total Cash and Investments............................................................................................................................................................................ 16 Net Investment Income................................................................................................................................................................................... 17 Alternative Investments................................................................................................................................................................................... 18 Fixed Maturities - By Security Type - AFG Consolidated................................................................................................................................ 19 Appendix A. Fixed Maturities by Credit Rating & NAIC Designation by Type 3/31/2024............................................................................................... 20 B. Fixed Maturities by Credit Rating & NAIC Designation by Type 12/31/2023............................................................................................. 21 C. Corporate Securities by Credit Rating & NAIC Designation by Industry 3/31/2024................................................................................... 22 D. Corporate Securities by Credit Rating & NAIC Designation by Industry 12/31/2023................................................................................. 23 E. Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 3/31/2024................................................................. 24 F. Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 12/31/2023............................................................... 25 G. Real Estate-Related Investments 3/31/2024............................................................................................................................................. 26 H. Real Estate-Related Investments 12/31/2023........................................................................................................................................... 27 Page 2

American Financial Group, Inc. Financial Highlights (in millions, except per share information) Three Months Ended Twelve Months Ended 3/31/2024 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Highlights Net earnings $ 242 $ 263 $ 177 $ 200 $ 212 $ 852 $ 898 Core net operating earnings 231 238 208 202 247 895 993 Total assets 30,001 29,787 30,825 29,048 28,481 29,787 28,831 Shareholders' equity, excluding AOCI (a) 4,555 4,577 4,551 4,504 4,392 4,577 4,595 Property and Casualty net written premiums 1,634 1,445 2,061 1,667 1,519 6,692 6,206 Per share data Diluted earnings per share $ 2.89 $ 3.13 $ 2.09 $ 2.34 $ 2.49 $ 10.05 $ 10.53 Core net operating earnings per share 2.76 2.84 2.45 2.38 2.89 10.56 11.63 Book value per share, excluding AOCI (a) 54.32 54.72 54.09 53.07 51.57 54.72 53.93 Dividends per common share 3.21 2.21 0.63 0.63 4.63 8.10 14.31 Financial ratios Annualized return on equity (b) 21.2% 23.0% 15.7% 17.9% 1 8.9% 18.8% 19.2% Annualized core operating return on equity (b) 20.2% 20.9% 18.3% 18.2% 2 2.0% 19.8% 21.2% Property and Casualty combined ratio - Specialty: Loss & LAE ratio 58.6% 60.7% 66.7% 60.2% 5 7.0% 61.5% 59.6% Underwriting expense ratio 31.5% 27.0% 25.5% 31.7% 3 2.2% 28.8% 27.6% Combined ratio - Specialty 90.1% 87.7% 92.2% 91.9% 8 9.2% 90.3% 87.2% (a) A reconciliation to the GAAP measure is on page 13. (b) Excludes accumulated other comprehensive income. Page 3

American Financial Group, Inc. Summary of Earnings ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Property and Casualty Insurance Underwriting profit $ 153 $ 211 $ 142 $ 124 $ 154 $ 631 $ 776 Net investment income 205 161 170 191 207 729 683 Other income (expense) (18) (15) (14) (16) (11) (56) (40) Property and Casualty Insurance operating earnings 340 357 298 299 350 1 ,304 1 ,419 Interest expense of parent holding companies (19) (19) (19) (19) (19) (76) (85) Other expense (31) (34) (22) (22) (23) (101) (86) Pretax core operating earnings 290 304 257 258 308 1 ,127 1 ,248 Income tax expense 59 66 49 56 61 232 255 Core net operating earnings 231 238 208 202 247 895 993 Non-core items, net of tax: Realized gains (losses) on securities 11 25 (15) (1) (37) (28) (92) Realized loss on subsidiaries - - (4) - - (4) - Special A&E charges - Former Railroad and Manufacturing operations - - (12) - - (12) - Gain (loss) on retirement of debt - - - (1) 2 1 (7) Other non-core items - - - - - - 4 Net earnings $ 242 $ 263 $ 177 $ 200 $ 212 $ 852 $ 898 Page 4

American Financial Group, Inc. Earnings Per Share Summary (in millions, except per share information) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Core net operating earnings $ 231 $ 238 $ 208 $ 202 $ 247 $ 895 $ 993 Net earnings $ 242 $ 263 $ 177 $ 200 $ 212 $ 852 $ 898 Average number of diluted shares 83.795 83.817 84.745 85.172 85.378 84.774 85.324 Diluted earnings per share: Core net operating earnings per share $ 2.76 $ 2.84 $ 2.45 $ 2.38 $ 2.89 $ 10.56 $ 11.63 Realized gains (losses) on securities 0.13 0.29 (0.17) (0.02) (0.42) (0.33) (1.06) Realized loss on subsidiaries - - (0.04) - - (0.04) - Special A&E charges - Former Railroad and Manufacturing operations - - (0.15) - - (0.15) - Gain (loss) on retirement of debt - - - (0.02) 0.02 0.01 (0.09) Other non-core items - - - - - - 0.05 Diluted earnings per share $ 2.89 $ 3.13 $ 2.09 $ 2.34 $ 2.49 $ 10.05 $ 10.53 Page 5

American Financial Group, Inc. Property and Casualty Insurance - Summary Underwriting Results (GAAP) ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Property and Transportation $ 56 $ 67 $ 42 $ 32 $ 43 $ 184 $ 208 Specialty Casualty 74 114 78 95 88 375 500 Specialty Financial 33 45 29 10 26 110 114 Other Specialty (9) (14) (6) (14) (2) (36) (42) Underwriting profit - Specialty 154 212 143 123 155 633 780 Other core charges, included in loss and LAE (1) (1) (1) 1 (1) (2) (4) Underwriting profit - Property and Casualty Insurance $ 153 $ 211 $ 142 $ 124 $ 154 $ 631 $ 776 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ 1 $ 1 $ - $ 2 $ - $ 3 $ 5 Catastrophe losses 34 24 56 51 31 162 88 Total current accident year catastrophe losses $ 35 $ 25 $ 56 $ 53 $ 31 $ 165 $ 93 Prior year loss reserve development (favorable) / adverse $ (50) $ (56) $ (43) $ (62) $ (63) $ (224) $ (285) Combined ratio: Property and Transportation 89.0% 90.3% 94.8% 94.2% 91.0% 92.8% 91.7% Specialty Casualty 89.8% 84.6% 89.4% 86.6% 87.5% 87.0% 81.2% Specialty Financial 86.3% 81.3% 87.6% 95.0% 86.5% 87.3% 83.7% Other Specialty 116.9% 118.9% 109.8% 122.2% 103.5% 113.9% 117.1% Combined ratio - Specialty 90.1% 87.7% 92.2% 91.9% 89.2% 90.3% 87.2% Other core charges 0.0% 0.1% 0.1% (0.2%) 0.1% 0.1% 0.1% Combined ratio 90.1% 87.8% 92.3% 91.7% 89.3% 90.4% 87.3% P&C combined ratio excl. catastrophe losses and prior year reserve development 91.1% 89.6% 91.5% 92.4% 91.5% 91.2% 90.4% Loss and LAE components: Current accident year, excluding catastrophe losses 59.6% 62.6% 66.0% 60.7% 59.3% 62.4% 62.8% Prior accident year loss reserve development (3.2%) (3.2%) (2.3%) (4.2%) ( 4.4%) (3.4%) (4.7%) Current accident year catastrophe losses 2.2% 1.4% 3.1% 3.5% 2.2% 2.6% 1.6% Loss and LAE ratio 58.6% 60.8% 66.8% 60.0% 57.1% 61.6% 59.7% Page 6

American Financial Group, Inc. Specialty - Underwriting Results (GAAP) ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Gross written premiums $ 2,336 $ 1,992 $ 3,140 $ 2,369 $ 2,155 $ 9,656 $ 9,057 Ceded reinsurance premiums ( 702) ( 547) ( 1,079) ( 702) (636) (2,964) (2,851) Net written premiums 1,634 1,445 2,061 1,667 1,519 6,692 6,206 Change in unearned premiums ( 88) 287 ( 206) ( 160) (82) (161) (121) Net earned premiums 1,546 1,732 1,855 1,507 1,437 6,531 6,085 Loss and LAE 906 1,052 1,238 906 819 4,015 3,625 Underwriting expense 486 468 474 478 463 1,883 1,680 Underwriting profit $ 154 $ 212 $ 143 $ 123 $ 155 $ 633 $ 780 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ 1 $ 1 $ - $ 2 $ - $ 3 $ 5 Catastrophe losses 34 24 56 51 31 162 88 Total current accident year catastrophe losses $ 35 $ 25 $ 56 $ 53 $ 31 $ 165 $ 93 Prior year loss reserve development (favorable) / adverse $ ( 51) $ ( 57) $ ( 44) $ ( 61) $ (64) $ (226) $ (289) Combined ratio: Loss and LAE ratio 5 8.6% 6 0.7% 6 6.7% 6 0.2% 57.0% 61.5% 59.6% Underwriting expense ratio 3 1.5% 2 7.0% 2 5.5% 3 1.7% 32.2% 28.8% 27.6% Combined ratio 9 0.1% 8 7.7% 9 2.2% 9 1.9% 89.2% 90.3% 87.2% Specialty combined ratio excl. catastrophe losses and prior year reserve development 9 1.1% 8 9.6% 9 1.5% 9 2.4% 91.5% 91.2% 90.4% Loss and LAE components: Current accident year, excluding catastrophe losses 5 9.6% 6 2.6% 6 6.0% 6 0.7% 59.3% 62.4% 62.8% Prior accident year loss reserve development (3.3%) (3.3%) (2.3%) (4.0%) (4.5%) (3.4%) (4.7%) Current accident year catastrophe losses 2 .3% 1 .4% 3 .0% 3 .5% 2.2% 2.5% 1.5% Loss and LAE ratio 5 8.6% 6 0.7% 6 6.7% 6 0.2% 57.0% 61.5% 59.6% Page 7

American Financial Group, Inc. Property and Transportation - Underwriting Results (GAAP) ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Gross written premiums $ 959 $ 623 $ 1,592 $ 1,059 $ 872 $ 4,146 $ 4,060 Ceded reinsurance premiums ( 368) ( 197) ( 687) ( 391) ( 320) (1,595) (1,545) Net written premiums 591 426 905 668 552 2,551 2,515 Change in unearned premiums ( 78) 256 ( 77) ( 134) ( 77) (32) (28) Net earned premiums 513 682 828 534 475 2,519 2,487 Loss and LAE 304 470 636 346 289 1,741 1,735 Underwriting expense 153 145 150 156 143 594 544 Underwriting profit $ 56 $ 67 $ 42 $ 32 $ 43 $ 184 $ 208 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ 2 $ - $ - $ - $ 2 $ 3 Catastrophe losses 8 3 14 15 19 51 42 Total current accident year catastrophe losses $ 8 $ 5 $ 14 $ 15 $ 19 $ 53 $ 45 Prior year loss reserve development (favorable) / adverse $ ( 43) $ ( 12) $ ( 14) $ ( 21) $ ( 37) $ (84) $ (92) Combined ratio: Loss and LAE ratio 5 9.2% 6 9.0% 7 6.8% 6 4.8% 6 0.9% 69.2% 69.8% Underwriting expense ratio 2 9.8% 2 1.3% 1 8.0% 2 9.4% 3 0.1% 23.6% 21.9% Combined ratio 8 9.0% 9 0.3% 9 4.8% 9 4.2% 9 1.0% 92.8% 91.7% Combined ratio excl. catastrophe losses and prior year reserve development 9 5.6% 9 1.5% 9 4.8% 9 5.1% 9 4.8% 94.1% 93.5% Loss and LAE components: Current accident year, excluding catastrophe losses 6 5.8% 7 0.2% 7 6.8% 6 5.7% 6 4.7% 70.5% 71.6% Prior accident year loss reserve development (8.3%) (1.8%) (1.7%) (3.8%) (7.8%) ( 3.3%) ( 3.7%) Current accident year catastrophe losses 1 .7% 0 .6% 1 .7% 2 .9% 4 .0% 2.0% 1.9% Loss and LAE ratio 5 9.2% 6 9.0% 7 6.8% 6 4.8% 6 0.9% 69.2% 69.8% Page 8

American Financial Group, Inc. Specialty Casualty - Underwriting Results (GAAP) ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Gross written premiums $ 1,097 $ 1,069 $ 1,226 $ 1,012 $ 1 ,061 $ 4 ,368 $ 4 ,115 Ceded reinsurance premiums ( 346) ( 369) ( 397) ( 319) (339) (1,424) (1,387) Net written premiums 751 700 829 693 722 2 ,944 2 ,728 Change in unearned premiums ( 21) 37 ( 95) 18 (18) (58) (69) Net earned premiums 730 737 734 711 704 2 ,886 2 ,659 Loss and LAE 457 438 463 421 417 1 ,739 1 ,453 Underwriting expense 199 185 193 195 199 772 706 Underwriting profit $ 74 $ 114 $ 78 $ 95 $ 88 $ 375 $ 500 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ 1 $ ( 1) $ - $ 2 $ - $ 1 $ - Catastrophe losses 15 9 17 6 3 35 11 Total current accident year catastrophe losses $ 16 $ 8 $ 17 $ 8 $ 3 $ 36 $ 11 Prior year loss reserve development (favorable) / adverse $ ( 17) $ ( 37) $ ( 22) $ ( 24) $ (27) $ (110) $ (190) Combined ratio: Loss and LAE ratio 6 2.5% 5 9.6% 6 3.1% 5 9.2% 59.2% 60.3% 54.7% Underwriting expense ratio 2 7.3% 2 5.0% 2 6.3% 2 7.4% 28.3% 26.7% 26.5% Combined ratio 8 9.8% 8 4.6% 8 9.4% 8 6.6% 87.5% 87.0% 81.2% Combined ratio excl. catastrophe losses and prior year reserve development 8 9.9% 8 8.5% 9 0.0% 8 9.0% 90.9% 89.6% 87.9% Loss and LAE components: Current accident year, excluding catastrophe losses 6 2.6% 6 3.5% 6 3.7% 6 1.6% 62.6% 62.9% 61.4% Prior accident year loss reserve development (2.3%) (5.0%) (2.9%) (3.4%) (3.8%) (3.8%) (7.2%) Current accident year catastrophe losses 2 .2% 1 .1% 2 .3% 1 .0% 0.4% 1.2% 0.5% Loss and LAE ratio 6 2.5% 5 9.6% 6 3.1% 5 9.2% 59.2% 60.3% 54.7% Page 9

American Financial Group, Inc. Specialty Financial - Underwriting Results (GAAP) ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Gross written premiums $ 280 $ 300 $ 322 $ 298 $ 222 $ 1,142 $ 882 Ceded reinsurance premiums ( 46) ( 50) ( 61) ( 58) ( 38) ( 207) ( 171) Net written premiums 234 250 261 240 184 935 711 Change in unearned premiums 9 ( 6) ( 29) ( 45) 12 ( 68) ( 13) Net earned premiums 243 244 232 195 196 867 698 Loss and LAE 98 85 93 79 71 328 238 Underwriting expense 112 114 110 106 99 429 346 Underwriting profit $ 33 $ 45 $ 29 $ 10 $ 26 $ 110 $ 114 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ - $ - $ - $ - $ - $ 3 Catastrophe losses 8 4 22 19 4 49 33 Total current accident year catastrophe losses $ 8 $ 4 $ 22 $ 19 $ 4 $ 49 $ 36 Prior year loss reserve development (favorable) / adverse $ 6 $ ( 8) $ ( 10) $ ( 11) $ ( 3) $ ( 32) $ ( 47) Combined ratio: Loss and LAE ratio 4 0.2% 3 4.8% 3 9.8% 4 0.9% 3 6.0% 3 7.8% 3 4.1% Underwriting expense ratio 4 6.1% 4 6.5% 4 7.8% 5 4.1% 5 0.5% 4 9.5% 4 9.6% Combined ratio 8 6.3% 8 1.3% 8 7.6% 9 5.0% 8 6.5% 8 7.3% 8 3.7% Combined ratio excl. catastrophe losses and prior year reserve development 8 0.9% 8 2.7% 8 2.5% 9 1.1% 8 5.7% 8 5.3% 8 5.6% Loss and LAE components: Current accident year, excluding catastrophe losses 3 4.8% 3 6.2% 3 4.7% 3 7.0% 3 5.2% 3 5.8% 3 6.0% Prior accident year loss reserve development 2 .3% (3.4%) (4.2%) (5.7%) (1.4%) (3.7%) (6.8%) Current accident year catastrophe losses 3 .1% 2 .0% 9 .3% 9 .6% 2 .2% 5 .7% 4 .9% Loss and LAE ratio 4 0.2% 3 4.8% 3 9.8% 4 0.9% 3 6.0% 3 7.8% 3 4.1% Page 10

American Financial Group, Inc. Other Specialty - Underwriting Results (GAAP) ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Gross written premiums $ - $ - $ - $ - $ - $ - $ - Ceded reinsurance premiums 58 69 66 66 61 262 252 Net written premiums 58 69 66 66 61 262 252 Change in unearned premiums 2 - ( 5) 1 1 ( 3) ( 11) Net earned premiums 60 69 61 67 62 259 241 Loss and LAE 47 59 46 60 42 207 199 Underwriting expense 22 24 21 21 22 88 84 Underwriting profit (loss) $ ( 9) $ ( 14) $ ( 6) $ ( 14) $ ( 2) $ ( 36) $ ( 42) Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ - $ - $ - $ - $ - $ ( 1) Catastrophe losses 3 8 3 11 5 27 2 Total current accident year catastrophe losses $ 3 $ 8 $ 3 $ 11 $ 5 $ 27 $ 1 Prior year loss reserve development (favorable) / adverse $ 3 $ - $ 2 $ ( 5) $ 3 $ - $ 40 Combined ratio: Loss and LAE ratio 7 9.2% 8 2.8% 7 6.2% 9 1.1% 6 9.0% 8 0.0% 8 2.4% Underwriting expense ratio 3 7.7% 3 6.1% 3 3.6% 3 1.1% 3 4.5% 3 3.9% 3 4.7% Combined ratio 1 16.9% 1 18.9% 1 09.8% 1 22.2% 1 03.5% 1 13.9% 1 17.1% Combined ratio excl. catastrophe losses and prior year reserve development 1 06.8% 1 07.3% 1 01.2% 1 11.7% 9 2.0% 1 03.3% 1 00.1% Loss and LAE components: Current accident year, excluding catastrophe losses 6 9.1% 7 1.2% 6 7.6% 8 0.6% 5 7.5% 6 9.4% 6 5.4% Prior accident year loss reserve development 4 .8% 0 .9% 3 .7% (7.5%) 4 .0% 0 .2% 1 6.5% Current accident year catastrophe losses 5 .3% 1 0.7% 4 .9% 1 8.0% 7 .5% 1 0.4% 0 .5% Loss and LAE ratio 7 9.2% 8 2.8% 7 6.2% 9 1.1% 6 9.0% 8 0.0% 8 2.4% Page 11

American Financial Group, Inc. Consolidated Balance Sheet ($ in millions) 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/22 Assets: Total cash and investments $ 15,254 $ 15,263 $ 14,794 $ 14,489 $ 14,451 $ 14,512 Recoverables from reinsurers 4,510 4,477 4,421 3,852 3, 838 3,977 Prepaid reinsurance premiums 1,078 961 1,223 1,112 1, 021 917 Agents' balances and premiums receivable 1,606 1,471 2,088 1,796 1, 459 1,339 Deferred policy acquisition costs 309 309 324 316 285 288 Assets of managed investment entities 4,669 4,484 4,871 5,235 5, 391 5,447 Other receivables 958 1,171 1,377 721 637 886 Other assets 1,312 1,346 1,422 1,281 1, 153 1,219 Goodwill 305 305 305 246 246 246 Total assets $ 30,001 $ 29,787 $ 30,825 $ 29,048 $ 28,481 $ 28,831 Liabilities and Equity: Unpaid losses and loss adjustment expenses $ 13,050 $ 13,087 $ 12,891 $ 11,925 $ 11,761 $ 11,974 Unearned premiums 3,650 3,451 3,997 3,686 3, 435 3,246 Payable to reinsurers 1,078 1,186 1,398 1,038 911 1,035 Liabilities of managed investment entities 4,468 4,307 4,728 5,098 5, 258 5,332 Long-term debt 1,475 1,475 1,474 1,474 1, 478 1,496 Other liabilities 2,040 2,023 2,356 1,834 1, 697 1,696 Total liabilities $ 25,761 $ 25,529 $ 26,844 $ 25,055 $ 24,540 $ 24,779 Shareholders' equity: Common stock $ 84 $ 84 $ 84 $ 85 $ 85 $ 85 Capital surplus 1,382 1,372 1,372 1,377 1, 374 1,368 Retained earnings 3,089 3,121 3,095 3,042 2, 933 3,142 Unrealized gains (losses) - fixed maturities (278) (287) (521) (464) (413) (497) Unrealized gains (losses) - fixed maturity-related cash flow hedges (22) (17) (34) (33) (21) (29) Other comprehensive income (loss), net of tax (15) (15) (15) (14) (17) (17) Total shareholders' equity 4,240 4,258 3,981 3,993 3, 941 4,052 Total liabilities and equity $ 30,001 $ 29,787 $ 30,825 $ 29,048 $ 28,481 $ 28,831 Page 12

American Financial Group, Inc. Book Value Per Share and Price / Book Summary (in millions, except per share information) 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/22 Shareholders' equity $ 4,240 $ 4,258 $ 3,981 $ 3,993 $ 3,941 $ 4,052 Accumulated other comprehensive income (loss) (3 15) (3 19) (5 70) (5 11) (451) (543) Shareholders' equity, excluding AOCI 4,555 4,577 4,551 4,504 4,392 4,595 Goodwill 305 305 305 246 246 246 208 213 217 102 105 108 Intangibles $ 4,042 $ 4,059 $ 4,029 $ 4,156 $ 4,041 $ 4,241 Tangible shareholders' equity, excluding AOCI Common shares outstanding 83.857 83.636 84.136 84.859 85.172 85.204 Book value per share: Book value per share $ 50.57 $ 50.91 $ 47.31 $ 47.06 $ 46.27 $ 47.56 Book value per share, excluding AOCI 54.32 54.72 54.09 53.07 51.57 53.93 Tangible, excluding AOCI 48.20 48.52 47.89 48.97 47.45 49.78 Market capitalization AFG's closing common share price $ 136.48 $ 118.89 $ 111.67 $ 118.75 $ 121.50 $ 137.28 Market capitalization $ 11,445 $ 9,943 $ 9,395 $ 10,077 $ 10,348 $ 11,697 Price / Book value per share, excluding AOCI 2.51 2.17 2.06 2.24 2.36 2.55 Page 13

American Financial Group, Inc. Capitalization ($ in millions) 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/22 AFG senior obligations $ 823 $ 823 $ 823 $ 823 $ 828 $ 846 - - - - - - Borrowings drawn under credit facility Debt excluding subordinated debt $ 823 $ 823 $ 823 $ 823 $ 828 $ 846 675 675 675 675 675 675 AFG subordinated debentures Total principal amount of long-term debt $ 1,498 $ 1,498 $ 1,498 $ 1,498 $ 1,503 $ 1,521 Shareholders' equity 4,240 4,258 3,981 3,993 3,941 4 ,052 (3 15) (3 19) (5 70) (5 11) (451) (543) Accumulated other comprehensive income (loss) Total capital, excluding AOCI $ 6,053 $ 6,075 $ 6,049 $ 6,002 $ 5,895 $ 6 ,116 Ratio of debt to total capital, excluding AOCI: Including subordinated debt 24.7% 24.7% 24.8% 25.0% 25.5% 2 4.9% Excluding subordinated debt 13.6% 13.5% 13.6% 13.7% 14.0% 1 3.8% Page 14

American Financial Group, Inc. Additional Supplemental Information ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Property and Casualty Insurance $ 989 $ 938 $ 805 $ 802 $ 881 $ 3,426 $ 3,082 Paid Losses (GAAP) 3/31/2024 12/31/23 9/30/23 6/30/23 3/31/23 12/31/22 GAAP Equity (excluding AOCI) Property and Casualty Insurance $ 5,780 $ 5,710 $ 5,786 $ 5,581 $ 5,392 $ 5,433 (1,225) (1,133) (1,235) (1,077) ( 1,000) ( 838) Parent and other subsidiaries $ 4,555 $ 4,577 $ 4,551 $ 4,504 $ 4,392 $ 4,595 AFG GAAP Equity (excluding AOCI) Allowable dividends without regulatory approval Property and Casualty Insurance $ 946 $ 946 $ 887 $ 887 $ 887 $ 887 Page 15

American Financial Group, Inc. Total Cash and Investments ($ in millions) Carrying Value - March 31, 2024 Property and % of Casualty Parent & Consolidate Total AFG Investment Insurance Other CLOs Consolidated Portfolio Total cash and investments: Cash and cash equivalents $ 878 $ 209 $ - $ 1,087 7% Fixed maturities - Available for sale 10,259 112 - 10,371 68% Fixed maturities - Trading 57 - - 57 0% Equity securities - Common stocks 629 - - 629 4% Equity securities - Perpetual preferred 411 - - 411 3% Investments accounted for using the equity method 1,846 2 - 1,848 12% Mortgage loans 722 - - 722 5% Real estate and other investments 235 93 (199) 129 1% Total cash and investments $ 15,037 $ 416 $ (199) $ 15,254 100% Carrying Value - December 31, 2023 Property and % of Casualty Parent & Consolidate Total AFG Investment Insurance Other CLOs Consolidated Portfolio Total cash and investments: Cash and cash equivalents $ 940 $ 285 $ - $ 1,225 8% Fixed maturities - Available for sale 10,225 152 - 10,377 68% Fixed maturities - Trading 57 - - 57 0% Equity securities - common stocks 586 - - 586 4% Equity securities - perpetual preferred 432 - - 432 3% Investments accounted for using the equity method 1,812 2 - 1,814 12% Mortgage loans 643 - - 643 4% Real estate and other investments 211 93 (175) 129 1% Total cash and investments $ 14,906 $ 532 $ (175) $ 15,263 100% Page 16

American Financial Group, Inc. Net Investment Income ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Property and Casualty Insurance: Gross investment income excluding alternative investments Fixed maturities $ 131 $ 131 $ 121 $ 117 $ 112 $ 481 $ 358 Equity securities 7 7 8 8 9 32 35 Other investments (a) 17 21 19 16 13 69 40 Gross investment income excluding alternative investments 155 159 148 141 134 582 433 Gross investment income from alternative investments (b) 56 5 25 55 78 163 265 Total gross investment income 211 164 173 196 212 745 698 Investment expenses (6) (3) (3) (5) ( 5) (16) (15) Total net investment income $ 205 $ 161 $ 170 $ 191 $ 207 $ 729 $ 683 Average cash and investments (c) $ 15,331 $ 15,227 $ 14,899 $ 14,498 $ 14,350 $ 14,753 $ 14,048 Average yield - fixed maturities before inv expenses (d) 4.93% 4.99% 4.68% 4.62% 4.40% 4. 67% 3. 63% Average yield - overall portfolio, net (d) 5.35% 4.23% 4.56% 5.27% 5.77% 4.94% 4.86% Average tax equivalent yield - overall portfolio, net (d) 5.42% 4.31% 4.63% 5.34% 5.83% 5. 01% 4. 96% AFG consolidated net investment income: Property & Casualty core $ 205 $ 161 $ 170 $ 191 $ 207 $ 729 $ 683 Parent & other 7 7 10 12 11 40 24 Consolidate CLOs (14) (9) (12) (5) ( 1) (27) 10 Total net investment income $ 198 $ 159 $ 168 $ 198 $ 217 $ 742 $ 717 Average cash and investments (c) $ 15,616 $ 15,540 $ 15,264 $ 15,025 $ 15,058 $ 15,254 $ 15,231 Average yield - overall portfolio, net (d) 5.07% 4.09% 4.40% 5.27% 5.76% 4.86% 4.71% Average yield - fixed maturities before inv expenses (d) 4.95% 5.01% 4.74% 4.67% 4.43% 4. 70% 3. 54% (a) Includes income from mortgage loans, real estate, short-term investments, and cash equivalents. (b) Investment income on alternative investments is detailed on page 18. (c) Average cash and investments is the average of the beginning and ending quarter balances, or the average of the five quarters balances. (d) Average yield is calculated by dividing investment income for the period by the average balance. Page 17

American Financial Group, Inc. Alternative Investments ($ in millions) Three Months Ended Twelve Months Ended 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/23 12/31/22 Property and Casualty Insurance: Net Investment Income Convertible fixed maturities MTM through investment income $ 1 $ (2) $ (11) $ 8 $ 4 $ (1 ) $ - Equity securities MTM through investment income (a) 16 1 7 14 16 38 8 Investments accounted for using the equity method (b) 25 (3) 17 28 57 99 267 AFG managed CLOs (eliminated in consolidation) 14 9 12 5 1 27 (1 0) Total Property & Casualty $ 56 $ 5 $ 25 $ 55 $ 78 $ 163 $ 265 Investments Convertible fixed maturities MTM through investment income $ 18 $ 17 $ 17 $ 28 $ 19 $ 17 $ - Equity securities MTM through investment income (a) 494 440 411 423 377 440 332 Investments accounted for using the equity method (b) 1,846 1,812 1,806 1,755 1,732 1,812 1,699 AFG managed CLOs (eliminated in consolidation) 199 175 143 136 132 175 115 Total Property & Casualty $ 2,557 $ 2,444 $ 2,377 $ 2,342 $ 2,260 $ 2,444 $ 2,146 Annualized Return - Property & Casualty 9.0% 0.8% 4.2% 9.6% 14.2% 7.0% 13.2% AFG Consolidated: Net Investment Income Convertible fixed maturities MTM through investment income $ 1 $ (2) $ (11) $ 8 $ 4 $ (1) $ - Equity securities MTM through investment income (a) 16 1 7 14 16 38 8 Investments accounted for using the equity method (b) 25 (3) 17 28 57 99 267 AFG managed CLOs (eliminated in consolidation) 14 9 12 5 1 27 (10) Total AFG Consolidated $ 56 $ 5 $ 25 $ 55 $ 78 $ 163 $ 265 Investments Convertible fixed maturities MTM through investment income $ 18 $ 17 $ 17 $ 28 $ 19 $ 17 $ - Equity securities MTM through investment income (a) 494 440 411 423 377 440 332 Investments accounted for using the equity method (b) 1,848 1,814 1,807 1,756 1,733 1,814 1,700 AFG managed CLOs (eliminated in consolidation) 199 175 143 136 132 175 115 Total AFG Consolidated $ 2,559 $ 2,446 $ 2,378 $ 2,343 $ 2,261 $ 2,446 $ 2,147 Annualized Return - AFG Consolidated 8.9% 0.8% 4.2% 9.6% 14.2% 7.0% 13.2% (a) AFG records holding gains and losses in net investment income on its portfolio of limited partnerships and similar investments that do not qualify for equity method accounting and certain other securities classified at purchase as fair value through net investment income. (b) The majority of AFG's investments accounted for using the equity method mark their underlying assets to market through net income. Page 18

American Financial Group, Inc. Fixed Maturities - By Security Type - AFG Consolidated ($ in millions ) % of Unrealized % of Investment March 31, 2024 Book Value (a) Fair Value Gain (Loss) Fair Value Portfolio US Government and government agencies $ 206 $ 199 $ (7) 2% 1% States, municipalities and political subdivisions 949 910 (39) 8% 6% Foreign government 293 288 (5) 3% 2% Residential mortgage-backed securities 1,805 1,674 (131) 16% 11% Commercial mortgage-backed securities 72 72 - 1% 0% Collateralized loan obligations 1,602 1,593 (9) 15% 10% Other asset-backed securities 2,463 2,374 (89) 23% 16% Corporate and other bonds 3,390 3,318 (72) 32% 22% Total AFG consolidated $ 10,780 $ 10,428 $ ( 352) 100% 68% Approximate duration - P&C 3.1 years Approximate duration - P&C including cash 2.9 years % of Unrealized % of Investment December 31, 2023 Book Value (a) Fair Value Gain (Loss) Fair Value Portfolio US Government and government agencies $ 243 $ 236 $ (7) 2% 2% States, municipalities and political subdivisions 1,014 984 (30) 9% 6% Foreign government 288 282 (6) 3% 2% Residential mortgage-backed securities 1,787 1,658 ( 129) 16% 11% Commercial mortgage-backed securities 75 74 (1) 1% 0% Collateralized loan obligations 1,706 1,687 (19) 16% 11% Other asset-backed securities 2,472 2,362 ( 110) 23% 15% Corporate and other bonds 3,212 3,151 (61) 30% 21% Total AFG consolidated $ 10,797 $ 10,434 $ ( 363) 100% 68% Approximate duration - P&C 3.2 years Approximate duration - P&C including cash 2.9 years (a) Book Value is amortized cost, net of allowance for expected credit losses. Page 19

Appendix A American Financial Group, Inc. Fixed Maturities by Credit Rating & NAIC Designation by Type 3/31/2024 ($ in millions) Fair Value by Type By Credit Rating (a) US Gov Munis Frgn Gov RMBS CMBS CLOs ABS Corp/Oth Total % Total Investment grade AAA $ - $ 358 $ 268 $ 1,433 $ 64 $ 1,454 $ 940 $ 22 $ 4,539 43% AA 199 500 9 95 7 128 246 162 1,346 13% A - 42 5 38 1 9 558 905 1,558 15% BBB - 8 6 9 - - 502 1,841 2,366 23% Subtotal - Investment grade 199 908 288 1,575 72 1,591 2,246 2,930 9,809 94% BB - - - 2 - - 7 191 200 2% B - - - 3 - - 2 73 78 1% CCC, CC, C - - - 30 - - 4 17 51 0% D - - - 2 - - - - 2 0% Subtotal - Non-Investment grade - - - 37 - - 13 281 331 3% Not Rated (b) - 2 - 62 - 2 115 107 288 3% Total $ 199 $ 910 $ 288 $ 1,674 $ 72 $ 1,593 $ 2,374 $ 3,318 $ 10,428 100% Fair Value by Type % Total NAIC designation US Gov Munis Frgn gov RMBS CMBS CLOs ABS Corp/Oth Total 1 $ 199 $ 896 $ 235 $ 1,608 $ 71 $ 1,538 $ 1,770 $ 1,125 $ 7,442 73% 2 - 8 - 7 - - 491 1,823 2,329 23% Subtotal 199 904 235 1,615 71 1,538 2,261 2,948 9,771 96% 3 - - - 1 - - 7 198 206 2% 4 - - - - - - 1 69 70 1% 5 - - - 6 - - 8 64 78 1% 6 - - - 2 - - - - 2 0% Subtotal - - - 9 - - 16 331 356 4% Total insurance companies $ 199 $ 904 $ 235 $ 1,624 $ 71 $ 1,538 $ 2,277 $ 3,279 $ 10,127 100% No NAIC designation (c) - - - - - 2 12 7 21 Non-Insurance and Foreign Companies (d) - 6 53 50 1 53 85 32 280 Total $ 199 $ 910 $ 288 $ 1,674 $ 72 $ 1,593 $ 2,374 $ 3,318 $ 10,428 (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest. (b) For ABS, 86% are NAIC 1 and 10% do not have a designation. For Corp/Oth, 24% are NAIC 1, 22% NAIC 2, 43% NAIC 5 and 7% do not have a designation. For Total, 61% are NAIC 1, 9% NAIC 2, 19% NAIC 5 and 7% do not have a designation. (c) Surplus notes and CLO equity tranches that are classified as other invested assets for STAT. (d) 98% are investment grade rated. Page 20

Appendix B American Financial Group, Inc. Fixed Maturities by Credit Rating & NAIC Designation by Type 12/31/2023 ($ in millions) Fair Value by Type By Credit Rating (a) US Gov Munis Frgn Gov RMBS CMBS CLOs ABS Corp/Oth Total % Total Investment grade AAA $ - $ 371 $ 261 $ 1,425 $ 63 $ 1,500 $ 961 $ 23 $ 4,604 44% AA 236 560 10 99 7 173 261 160 1,506 15% A - 44 5 26 1 13 542 839 1,470 14% BBB - 7 6 4 - - 474 1,740 2,231 21% Subtotal - Investment grade 236 982 282 1,554 71 1,686 2,238 2,762 9,811 94% BB - - - 2 3 - 7 195 207 2% B - - - 4 - - 2 67 73 1% CCC, CC, C - - - 29 - - 5 7 41 0% D - - - 4 - - - - 4 0% Subtotal - Non-Investment grade - - - 39 3 - 14 269 325 3% Not Rated (b) - 2 - 65 - 1 110 120 298 3% Total $ 236 $ 984 $ 282 $ 1,658 $ 74 $ 1,687 $ 2,362 $ 3,151 $ 10,434 100% Fair Value by Type % Total NAIC designation US Gov Munis Frgn gov RMBS CMBS CLOs ABS Corp/Oth Total 1 $ 236 $ 977 $ 230 $ 1,606 $ 71 $ 1,633 $ 1,799 $ 1,043 $ 7,595 74% 2 - 7 - 2 - - 474 1,769 2,252 22% Subtotal 236 984 230 1,608 71 1,633 2,273 2,812 9,847 96% 3 - - - 1 3 - 8 195 207 2% 4 - - - 1 - - 1 61 63 1% 5 - - - 3 - - 9 67 79 1% 6 - - - 5 - - - - 5 0% Subtotal - - - 10 3 - 18 323 354 4% Total insurance companies $ 236 $ 984 $ 230 $ 1,618 $ 74 $ 1,633 $ 2,291 $ 3,135 $ 10,201 100% No NAIC designation (c) - - - - - 1 9 11 21 Non-Insurance and Foreign Companies (d) - - 52 40 - 53 62 5 212 Total $ 236 $ 984 $ 282 $ 1,658 $ 74 $ 1,687 $ 2,362 $ 3,151 $ 10,434 (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest. (b) For ABS, 87% are NAIC 1 and 8% do not have a designation. For Corp/Oth, 21% are NAIC 1, 21% NAIC 2, 46% NAIC 5 and 9% do not have a designation. For Total, 58% are NAIC 1, 9% NAIC 2, 21% NAIC 5 and 7% do not have a designation. (c) Surplus notes and CLO equity tranches that are classified as other invested assets for STAT. (d) 98% are investment grade rated. Page 21

Appendix C American Financial Group, Inc. Corporate Securities by Credit Rating & NAIC Designation by Industry 3/31/2024 ($ in millions) Fair Value By Industry Asset Other Basic Capital Managers Banking Technology Insurance Consumer Financials Utilities REITs Autos Retailers Industry Goods Media Other Total % Total Credit Rating (a) Investment Grade AAA $ - $ - $ 11 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 11 $ 22 1% AA 5 - 16 43 39 28 5 - - 10 - - - 16 162 5% A 33 177 56 147 56 46 113 52 76 17 11 40 3 78 905 27% BBB 673 214 143 46 66 102 75 77 66 52 114 47 45 121 1, 841 55% Subtotal 711 391 226 236 161 176 193 129 142 79 125 87 48 226 2,930 88% BB 23 6 23 3 28 3 - - 5 40 14 2 28 16 191 6% B - 2 2 - 11 8 - - 4 27 - 4 - 15 73 2% CCC, CC, C - - 2 - - - - - - - - - - 15 17 1% D - - - - - - - - - - - - - - - 0% Subtotal 23 8 27 3 39 11 - - 9 67 14 6 28 46 281 9% Not Rated (b) - - 4 7 17 10 - 28 - - - 6 20 15 107 3% Total $ 734 $ 399 $ 257 $ 246 $ 217 $ 197 $ 193 $ 157 $ 151 $ 146 $ 139 $ 99 $ 96 $ 287 $ 3,318 100% Fair Value By Industry Asset Other Basic Capital NAIC designation Managers Banking Technology Insurance Consumer Financials Utilities REITs Autos Retailers Industry Goods Media Other Total % Total 1 $ 59 $ 174 $ 83 $ 188 $ 104 $ 82 $ 117 $ 60 $ 76 $ 27 $ 11 $ 40 $ 3 $ 101 $ 1, 125 34% 2 650 213 139 44 70 102 74 90 65 50 110 46 44 126 1, 823 56% Subtotal 709 387 222 232 174 184 191 150 141 77 121 86 47 227 2, 948 90% 3 23 6 24 3 33 5 - - 5 41 13 2 28 15 198 6% 4 - 2 1 - 6 8 - - 4 27 - 4 - 17 69 2% 5 - - 6 - 2 - - 7 - - 1 6 20 22 64 2% 6 - - - - - - - - - - - - - - - 0% Subtotal 23 8 31 3 41 13 - 7 9 68 14 12 48 54 331 10% Total insurance companies $ 732 $ 395 $ 253 $ 235 $ 215 $ 197 $ 191 $ 157 $ 150 $ 145 $ 135 $ 98 $ 95 $ 281 $ 3,279 100% No NAIC designation (c) - - - 7 - - - - - - - - - - 7 Non-Insurance and Foreign Companies 2 4 4 4 2 - 2 - 1 1 4 1 1 6 32 Total $ 734 $ 399 $ 257 $ 246 $ 217 $ 197 $ 193 $ 157 $ 151 $ 146 $ 139 $ 99 $ 96 $ 287 $ 3,318 (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest. (b) 24% of not rated securities are NAIC 1, 22% NAIC 2, 43% NAIC 5 and 7% do not have a designation. Page 22

Appendix D American Financial Group, Inc. Corporate Securities by Credit Rating & NAIC Designation by Industry 12/31/2023 ($ in millions) Fair Value By Industry Asset Other Basic Capital Managers Banking Technology Insurance Consumer Financials Utilities Autos REITs Retailers Industry Media Goods Other Total % Total Credit Rating (a) Investment Grade AAA $ - $ - $ 11 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 12 $ 23 1% AA 5 - 18 43 39 29 5 - - 10 - - - 11 160 5% A 33 190 57 151 44 45 86 61 47 18 11 3 35 58 839 27% BBB 579 210 151 41 69 101 72 79 68 51 110 45 40 124 1, 740 55% Subtotal 617 400 237 235 152 175 163 140 115 79 121 48 75 205 2,762 88% BB 23 2 24 3 27 5 - 5 - 40 15 35 1 15 195 6% B - - 2 - 10 8 - 4 - 24 - - 4 15 67 2% CCC, CC, C - - 2 - - - - - - - - - - 5 7 0% D - - - - - - - - - - - - - - - 0% Subtotal 23 2 28 3 37 13 - 9 - 64 15 35 5 35 269 8% Not Rated (b) - - 4 11 18 10 - - 28 - - 20 6 23 120 4% Total $ 640 $ 402 $ 269 $ 249 $ 207 $ 198 $ 163 $ 149 $ 143 $ 143 $ 136 $ 103 $ 86 $ 263 $ 3,151 100% Fair Value By Industry Asset Other Basic Capital NAIC designation Managers Banking Technology Insurance Consumer Financials Utilities Autos REITs Retailers Industry Media Goods Other Total % Total 1 $ 38 $ 190 $ 86 $ 194 $ 92 $ 82 $ 92 $ 61 $ 55 $ 28 $ 11 $ 3 $ 35 $ 76 $ 1,043 33% 2 579 210 151 41 75 102 71 84 81 51 110 45 40 129 1, 769 57% Subtotal 617 400 237 235 167 184 163 145 136 79 121 48 75 205 2, 812 90% 3 23 2 23 3 32 6 - - - 40 14 35 2 15 195 6% 4 - - 1 - 4 8 - 4 - 24 - - 4 16 61 2% 5 - - 8 - 4 - - - 7 - 1 20 5 22 67 2% 6 - - - - - - - - - - - - - - - 0% Subtotal 23 2 32 3 40 14 - 4 7 64 15 55 11 53 323 10% Total insurance companies $ 640 $ 402 $ 269 $ 238 $ 207 $ 198 $ 163 $ 149 $ 143 $ 143 $ 136 $ 103 $ 86 $ 258 $ 3,135 100% No NAIC designation (c) - - - 11 - - - - - - - - - - 11 Non-Insurance and Foreign Companies - - - - - - - - - - - - - 5 5 Total $ 640 $ 402 $ 269 $ 249 $ 207 $ 198 $ 163 $ 149 $ 143 $ 143 $ 136 $ 103 $ 86 $ 263 $ 3,151 (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest. (b) 21% of not rated securities are NAIC 1, 21% NAIC 2, 46% NAIC 5 and 9% do not have a designation. (c) Surplus notes that are classified as other invested assets for STAT. Page 23

Appendix E American Financial Group, Inc. Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 3/31/2024 ($ in millions) Fair Value By Collateral Type Single Whole Commercial Secured Family Triple Net Credit Rating (a) Business Real Estate Financing (c) Rental TruPS Railcar Lease Aircraft Auto Other Total % Total Investment Grade AAA $ - $ 366 $ 25 $ 197 $ 40 $ - $ 150 $ - $ 69 $ 93 $ 940 40% AA 55 6 20 - 136 - 2 5 - 22 246 10% A 10 - 78 - 19 179 24 57 - 191 558 24% BBB 391 - 1 - - 6 - 27 - 77 502 21% Subtotal 456 372 124 197 195 185 176 89 69 383 2,246 95% BB - - 1 - - - - 6 - - 7 0% B - - 1 - - - - 1 - - 2 0% CCC, CC, C - - - - - - - 4 - - 4 0% D - - - - - - - - - - - 0% Subtotal - - 2 - - - - 11 - - 13 0% Not Rated (b) - - 97 - - - - 3 - 15 115 5% Total $ 456 $ 372 $ 223 $ 197 $ 195 $ 185 $ 176 $ 103 $ 69 $ 398 $ 2,374 100% Fair Value By Collateral Type Commercial Single Whole Real Estate Secured Family Triple Net Business ABS Financing (b) Rental TruPS Railcar Lease Aircraft Auto Other Total % Total NAIC designation 1 $ 65 $ 322 $ 220 $ 191 $ 192 $ 176 $ 172 $ 59 $ 67 $ 306 $ 1,770 78% 2 381 - 1 - - 6 - 26 - 77 491 22% Subtotal 446 322 221 191 192 182 172 85 67 383 2,261 100% 3 - - 2 - - - - 5 - - 7 0% 4 - - - - - - - 1 - - 1 0% 5 - - - - - - - 8 - - 8 0% 6 - - - - - - - - - - - 0% Subtotal - - 2 - - - - 14 - - 16 0% Total insurance companies $ 446 $ 322 $ 223 $ 191 $ 192 $ 182 $ 172 $ 99 $ 67 $ 383 $ 2,277 100% No NAIC designation - - - - - - - - - 12 12 Non-Insurance and Foreign Companies 10 50 - 6 3 3 4 4 2 3 85 Total $ 456 $ 372 $ 223 $ 197 $ 195 $ 185 $ 176 $ 103 $ 69 $ 398 $ 2,374 (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest. (b) 86% of not rated securities are NAIC 1 and 10% do not have a designation. (c) Secured Financings are privately placed funding agreements secured primarily by Single Family Rental properties and Bank Loans. Page 24

Appendix F American Financial Group, Inc. Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 12/31/2023 ($ in millions) Fair Value By Collateral Type Single Whole Commercial Secured Family Triple Net Credit Rating (a) Business Real Estate Financing (c) TruPS Rental Lease Railcar Aircraft Auto Other Total % Total Investment Grade AAA $ - $ 385 $ 24 $ 46 $ 191 $ 157 $ - $ - $ 67 $ 91 $ 961 41% AA 55 6 20 140 1 2 - 5 14 18 261 11% A 10 - 75 16 - 24 168 54 - 195 542 23% BBB 366 - 1 - - - 6 30 - 71 474 20% Subtotal 431 391 120 202 192 183 174 89 81 375 2,238 95% BB - - 1 - - - - 6 - - 7 0% B - - 1 - - - - 1 - - 2 0% CCC, CC, C - - - - - - - 5 - - 5 0% D - - - - - - - - - - - 0% Subtotal - - 2 - - - - 12 - - 14 0% Not Rated (b) - - 96 - - - - 5 - 9 110 5% Total $ 431 $ 391 $ 218 $ 202 $ 192 $ 183 $ 174 $ 106 $ 81 $ 384 $ 2,362 100% Fair Value By Collateral Type Commercial Single Whole Real Estate Secured Family Triple Net Business ABS Financing (c) TruPS Rental Lease Railcar Aircraft Auto Other Total % Total NAIC designation 1 $ 65 $ 331 $ 215 $ 202 $ 192 $ 183 $ 167 $ 60 $ 81 $ 303 $ 1 ,799 79% 2 366 - 1 - - - 7 30 - 70 474 21% Subtotal 431 331 216 202 192 183 174 90 81 373 2,273 100% 3 - - 2 - - - - 6 - - 8 0% 4 - - - - - - - 1 - - 1 0% 5 - - - - - - - 9 - - 9 0% 6 - - - - - - - - - - - 0% Subtotal - - 2 - - - - 16 - - 18 0% Total insurance companies $ 431 $ 331 $ 218 $ 202 $ 192 $ 183 $ 174 $ 106 $ 81 $ 373 $ 2,291 100% No NAIC designation - - - - - - - - - 9 9 Non-Insurance and Foreign Companies - 60 - - - - - - - 2 62 Total $ 431 $ 391 $ 218 $ 202 $ 192 $ 183 $ 174 $ 106 $ 81 $ 384 $ 2,362 (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest. (b) 87% of not rated securities are NAIC 1 and 8% do not have a designation. (c) Secured Financings are privately placed funding agreements secured primarily by Single Family Rental properties and Bank Loans. Page 25

Appendix G American Financial Group, Inc. Real Estate-Related Investments 3/31/2024 ($ in millions) Investments accounted for using equity method (Real Estate Funds/Investments) (a) % of Investment Type Book Value Book Value Occupancy (b) Collection Rate (c) Multi-family $ 1,190 91% 94% 97% Fund Investments 59 5% - - QOZ Fund - Development 29 2% - - Office 16 1% 90% 100% Hospitality 10 1% - - Land Development 5 - - - Total $ 1,309 100% Real Estate % of Property Type Book Value Book Value Debt Resort & Marina $ 50 52% $ - Marina 35 36% - Office Building 10 10% - Land 2 2% - Total $ 97 100% $ - Mortgage Loans % of Loan To Property Type Book Value Book Value Value Multifamily $ 549 76% 66% Hospitality 124 17% 50% Office 49 7% 98% Total $ 722 100% 65% Currently, no loans are receiving interest deferral through forbearance agreements. (a) Total investments accounted for using the equity method is $1.8 billion, the amounts presented in this table only relate to real estate funds/investments. (b) Occupancy as of 3/31/24 (c) Collections for January - March Page 26

Appendix H American Financial Group, Inc. Real Estate-Related Investments 12/31/2023 ($ in millions) Investments accounted for using equity method (Real Estate Funds/Investments) (a) % of Investment Type Book Value Book Value Occupancy (b) Collection Rate (c) Multi-family $ 1,205 91% 94% 97% Fund Investments 59 5% - - QOZ Fund - Development 25 2% - - Office 16 1% 88% 100% Hospitality 10 1% - - Land Development 5 - - - Total $ 1,320 100% Real Estate % of Property Type Book Value Book Value Debt Resort & Marina $ 50 52% $ - Marina 36 37% - Office Building 9 9% - Land 2 2% - Total $ 97 100% $ - Mortgage Loans % of Loan To Property Type Book Value Book Value Value Multifamily $ 462 72% 66% Hospitality 125 19% 49% Office 56 9% 89% Total $ 643 100% 65% Currently, no loans are receiving interest deferral through forbearance agreements. (a) Total investments accounted for using the equity method is $1.8 billion, the amounts presented in this table only relate to real estate funds/investments. (b) Occupancy as of 12/31/23 (c) Collections for October - December Page 27