Exhibit 99.2 American Financial Group, Inc. Investor Supplement - Third Quarter 2024 November 5, 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 - Third Quarter 2024 3 Section Page Table of Contents - Investor Supplement - Third 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 9/30/2024............................................................................................... 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 9/30/2024................................................................................... 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 9/30/2024................................................................. 24 F. Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 12/31/2023............................................................... 25 G. Real Estate-Related Investments 9/30/2024............................................................................................................................................. 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 Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Highlights Net earnings $ 181 $ 209 $ 242 $ 263 $ 177 $ 632 $ 589 Core net operating earnings 194 215 231 238 208 640 657 Total assets 32,591 29,913 30,001 29,787 30,825 32,591 30,825 Shareholders' equity, excluding AOCI (a) 4,844 4,715 4,555 4,577 4,551 4,844 4,551 Property and Casualty net written premiums 2,353 1,692 1,634 1,445 2,061 5,679 5,247 Per share data Diluted earnings per share $ 2.16 $ 2.49 $ 2.89 $ 3.13 $ 2.09 $ 7.54 $ 6.93 Core net operating earnings per share 2.31 2.56 2.76 2.84 2.45 7.63 7.72 Book value per share, excluding AOCI (a) 57.71 56.19 54.32 54.72 54.09 57.71 54.09 Dividends per common share 0.71 0.71 3.21 2.21 0.63 4.63 5.89 Financial ratios Annualized return on equity (b) 15.2% 18.0% 21.2% 23.0% 1 5.7% 18.0% 17.4% Annualized core operating return on equity (b) 16.2% 18.5% 20.2% 20.9% 1 8.3% 18.3% 19.4% Property and Casualty combined ratio - Specialty: Loss & LAE ratio 69.5% 59.1% 58.6% 60.7% 6 6.7% 63.1% 61.8% Underwriting expense ratio 24.8% 31.4% 31.5% 27.0% 2 5.5% 28.8% 29.5% Combined ratio - Specialty 94.3% 90.5% 90.1% 87.7% 9 2.2% 91.9% 91.3% (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 Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Property and Casualty Insurance Underwriting profit $ 115 $ 150 $ 153 $ 211 $ 142 $ 418 $ 420 Net investment income 195 189 205 161 170 589 568 Other income (expense) (19) (20) (18) (15) (14) (57) (41) Property and Casualty Insurance operating earnings 291 319 340 357 298 950 947 Interest expense of parent holding companies (19) (19) (19) (19) (19) (57) (57) Other expense (27) (27) (31) (34) (22) (85) (67) Pretax core operating earnings 245 273 290 304 257 808 823 Income tax expense 51 58 59 66 49 168 166 Core net operating earnings 194 215 231 238 208 640 657 Non-core items, net of tax: Realized gains (losses) on securities (2) (2) 11 25 (15) 7 (53) Realized loss on subsidiaries - (4) - - (4) (4) (4) Special A&E charges - Former Railroad and Manufacturing operations (11) - - - (12) (11) (12) Gain (loss) on retirement of debt - - - - - - 1 Net earnings $ 181 $ 209 $ 242 $ 263 $ 177 $ 632 $ 589 Page 4

American Financial Group, Inc. Earnings Per Share Summary (in millions, except per share information) Three Months Ended Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Core net operating earnings $ 194 $ 215 $ 231 $ 238 $ 208 $ 640 $ 657 Net earnings $ 181 $ 209 $ 242 $ 263 $ 177 $ 632 $ 589 Average number of diluted shares 83.939 83.912 83.795 83.817 84.745 83.882 85.096 Diluted earnings per share: Core net operating earnings per share $ 2.31 $ 2.56 $ 2.76 $ 2.84 $ 2.45 $ 7.63 $ 7.72 Realized gains (losses) on securities (0.02) (0.02) 0.13 0.29 (0.17) 0.09 (0.61) Realized loss on subsidiaries - (0.05) - - (0.04) (0.05) (0.04) Special A&E charges - Former Railroad and Manufacturing operations (0.13) - - - (0.15) (0.13) (0.15) Gain (loss) on retirement of debt - - - - - - 0.01 Diluted earnings per share $ 2.16 $ 2.49 $ 2.89 $ 3.13 $ 2.09 $ 7.54 $ 6.93 Page 5

American Financial Group, Inc. Property and Casualty Insurance - Summary Underwriting Results (GAAP) ($ in millions) Three Months Ended Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Property and Transportation $ 34 $ 39 $ 56 $ 67 $ 42 $ 129 $ 117 Specialty Casualty 76 108 74 114 78 258 261 Specialty Financial 22 25 33 45 29 80 65 Other Specialty (15) (21) (9) (14) (6) (45) (22) Underwriting profit - Specialty 117 151 154 212 143 422 421 Other core charges, included in loss and LAE (2) (1) (1) (1) (1) (4) (1) Underwriting profit - Property and Casualty Insurance $ 115 $ 150 $ 153 $ 211 $ 142 $ 418 $ 420 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ - $ 1 $ 1 $ - $ 1 $ 2 Catastrophe losses 90 36 34 24 56 160 138 Total current accident year catastrophe losses $ 90 $ 36 $ 35 $ 25 $ 56 $ 161 $ 140 Prior year loss reserve development (favorable) / adverse $ (15) $ (35) $ (50) $ (56) $ (43) $ (100) $ (168) Combined ratio: Property and Transportation 96.5% 92.9% 89.0% 90.3% 94.8% 93.6% 93.6% Specialty Casualty 90.0% 85.4% 89.8% 84.6% 89.4% 88.4% 87.8% Specialty Financial 91.9% 89.7% 86.3% 81.3% 87.6% 89.4% 89.6% Other Specialty 123.9% 132.1% 116.9% 118.9% 109.8% 124.4% 111.9% Combined ratio - Specialty 94.3% 90.5% 90.1% 87.7% 92.2% 91.9% 91.3% Other core charges 0.1% 0.0% 0.0% 0.1% 0.1% 0.0% 0.0% Combined ratio 94.4% 90.5% 90.1% 87.8% 92.3% 91.9% 91.3% P&C combined ratio excl. catastrophe losses and prior year reserve development 90.7% 90.5% 91.1% 89.6% 91.5% 90.8% 91.9% Loss and LAE components: Current accident year, excluding catastrophe losses 65.9% 59.1% 59.6% 62.6% 66.0% 62.0% 62.4% Prior accident year loss reserve development (0.7%) (2.2%) (3.2%) (3.2%) ( 2.3%) (1.9%) (3.5%) Current accident year catastrophe losses 4.4% 2.2% 2.2% 1.4% 3.1% 3.0% 2.9% Loss and LAE ratio 69.6% 59.1% 58.6% 60.8% 66.8% 63.1% 61.8% Page 6

American Financial Group, Inc. Specialty - Underwriting Results (GAAP) ($ in millions) Three Months Ended Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Gross written premiums $ 3,748 $ 2,406 $ 2,336 $ 1,992 $ 3,140 $ 8,490 $ 7,664 Ceded reinsurance premiums ( 1,395) ( 714) ( 702) ( 547) (1,079) (2,811) (2,417) Net written premiums 2,353 1,692 1,634 1,445 2,061 5,679 5,247 Change in unearned premiums ( 298) ( 107) ( 88) 287 (206) (493) (448) Net earned premiums 2,055 1,585 1,546 1,732 1,855 5,186 4,799 Loss and LAE 1,428 936 906 1,052 1,238 3,270 2,963 Underwriting expense 510 498 486 468 474 1,494 1,415 Underwriting profit $ 117 $ 151 $ 154 $ 212 $ 143 $ 422 $ 421 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ - $ 1 $ 1 $ - $ 1 $ 2 Catastrophe losses 90 36 34 24 56 160 138 Total current accident year catastrophe losses $ 90 $ 36 $ 35 $ 25 $ 56 $ 161 $ 140 Prior year loss reserve development (favorable) / adverse $ ( 17) $ ( 36) $ ( 51) $ ( 57) $ (44) $ (104) $ (169) Combined ratio: Loss and LAE ratio 6 9.5% 5 9.1% 5 8.6% 6 0.7% 66.7% 63.1% 61.8% Underwriting expense ratio 2 4.8% 3 1.4% 3 1.5% 2 7.0% 25.5% 28.8% 29.5% Combined ratio 9 4.3% 9 0.5% 9 0.1% 8 7.7% 92.2% 91.9% 91.3% Specialty combined ratio excl. catastrophe losses and prior year reserve development 9 0.7% 9 0.5% 9 1.1% 8 9.6% 91.5% 90.8% 91.9% Loss and LAE components: Current accident year, excluding catastrophe losses 6 5.9% 5 9.1% 5 9.6% 6 2.6% 66.0% 62.0% 62.4% Prior accident year loss reserve development (0.8%) (2.3%) (3.3%) (3.3%) (2.3%) (2.0%) (3.5%) Current accident year catastrophe losses 4 .4% 2 .3% 2 .3% 1 .4% 3.0% 3.1% 2.9% Loss and LAE ratio 6 9.5% 5 9.1% 5 8.6% 6 0.7% 66.7% 63.1% 61.8% Page 7

American Financial Group, Inc. Property and Transportation - Underwriting Results (GAAP) ($ in millions) Three Months Ended Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Gross written premiums $ 2,107 $ 1,084 $ 959 $ 623 $ 1,592 $ 4,150 $ 3,523 Ceded reinsurance premiums ( 967) ( 403) ( 368) ( 197) ( 687) (1,738) (1,398) Net written premiums 1,140 681 591 426 905 2,412 2,125 Change in unearned premiums ( 159) ( 138) ( 78) 256 ( 77) (375) (288) Net earned premiums 981 543 513 682 828 2,037 1,837 Loss and LAE 777 348 304 470 636 1,429 1,271 Underwriting expense 170 156 153 145 150 479 449 Underwriting profit $ 34 $ 39 $ 56 $ 67 $ 42 $ 129 $ 117 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ - $ - $ 2 $ - $ - $ - Catastrophe losses 34 13 8 3 14 55 48 Total current accident year catastrophe losses $ 34 $ 13 $ 8 $ 5 $ 14 $ 55 $ 48 Prior year loss reserve development (favorable) / adverse $ ( 15) $ ( 33) $ ( 43) $ ( 12) $ ( 14) $ (91) $ (72) Combined ratio: Loss and LAE ratio 7 9.3% 6 4.0% 5 9.2% 6 9.0% 7 6.8% 70.1% 69.2% Underwriting expense ratio 1 7.2% 2 8.9% 2 9.8% 2 1.3% 1 8.0% 23.5% 24.4% Combined ratio 9 6.5% 9 2.9% 8 9.0% 9 0.3% 9 4.8% 93.6% 93.6% Combined ratio excl. catastrophe losses and prior year reserve development 9 4.4% 9 6.7% 9 5.6% 9 1.5% 9 4.8% 95.3% 94.8% Loss and LAE components: Current accident year, excluding catastrophe losses 7 7.2% 6 7.8% 6 5.8% 7 0.2% 7 6.8% 71.8% 70.4% Prior accident year loss reserve development (1.5%) (6.2%) (8.3%) (1.8%) (1.7%) ( 4.4%) ( 3.9%) Current accident year catastrophe losses 3 .6% 2 .4% 1 .7% 0 .6% 1 .7% 2.7% 2.7% Loss and LAE ratio 7 9.3% 6 4.0% 5 9.2% 6 9.0% 7 6.8% 70.1% 69.2% Page 8

American Financial Group, Inc. Specialty Casualty - Underwriting Results (GAAP) ($ in millions) Three Months Ended Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Gross written premiums $ 1,297 $ 1,023 $ 1,097 $ 1,069 $ 1 ,226 $ 3 ,417 $ 3 ,299 Ceded reinsurance premiums ( 434) ( 319) ( 346) ( 369) (397) (1,099) (1,055) Net written premiums 863 704 751 700 829 2 ,318 2 ,244 Change in unearned premiums ( 119) 35 ( 21) 37 (95) (105) (95) Net earned premiums 744 739 730 737 734 2 ,213 2 ,149 Loss and LAE 473 428 457 438 463 1 ,358 1 ,301 Underwriting expense 195 203 199 185 193 597 587 Underwriting profit $ 76 $ 108 $ 74 $ 114 $ 78 $ 258 $ 261 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ - $ 1 $ ( 1) $ - $ 1 $ 2 Catastrophe losses 16 5 15 9 17 36 26 Total current accident year catastrophe losses $ 16 $ 5 $ 16 $ 8 $ 17 $ 37 $ 28 Prior year loss reserve development (favorable) / adverse $ ( 4) $ ( 25) $ ( 17) $ ( 37) $ (22) $ (46) $ (73) Combined ratio: Loss and LAE ratio 6 3.6% 5 8.0% 6 2.5% 5 9.6% 63.1% 61.4% 60.5% Underwriting expense ratio 2 6.4% 2 7.4% 2 7.3% 2 5.0% 26.3% 27.0% 27.3% Combined ratio 9 0.0% 8 5.4% 8 9.8% 8 4.6% 89.4% 88.4% 87.8% Combined ratio excl. catastrophe losses and prior year reserve development 8 8.3% 8 8.2% 8 9.9% 8 8.5% 90.0% 88.7% 90.0% Loss and LAE components: Current accident year, excluding catastrophe losses 6 1.9% 6 0.8% 6 2.6% 6 3.5% 63.7% 61.7% 62.7% Prior accident year loss reserve development (0.6%) (3.5%) (2.3%) (5.0%) (2.9%) (2.1%) (3.4%) Current accident year catastrophe losses 2 .3% 0 .7% 2 .2% 1 .1% 2.3% 1.8% 1.2% Loss and LAE ratio 6 3.6% 5 8.0% 6 2.5% 5 9.6% 63.1% 61.4% 60.5% Page 9

American Financial Group, Inc. Specialty Financial - Underwriting Results (GAAP) ($ in millions) Three Months Ended Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Gross written premiums $ 344 $ 299 $ 280 $ 300 $ 322 $ 923 $ 842 Ceded reinsurance premiums ( 60) ( 51) ( 46) ( 50) ( 61) ( 157) ( 157) Net written premiums 284 248 234 250 261 766 685 Change in unearned premiums ( 15) ( 7) 9 ( 6) ( 29) ( 13) ( 62) Net earned premiums 269 241 243 244 232 753 623 Loss and LAE 124 101 98 85 93 323 243 Underwriting expense 123 115 112 114 110 350 315 Underwriting profit $ 22 $ 25 $ 33 $ 45 $ 29 $ 80 $ 65 Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ - $ - $ - $ - $ - $ - Catastrophe losses 39 17 8 4 22 64 45 Total current accident year catastrophe losses $ 39 $ 17 $ 8 $ 4 $ 22 $ 64 $ 45 Prior year loss reserve development (favorable) / adverse $ ( 9) $ - $ 6 $ ( 8) $ ( 10) $ ( 3) $ ( 24) Combined ratio: Loss and LAE ratio 4 6.1% 4 2.1% 4 0.2% 3 4.8% 3 9.8% 4 2.9% 3 9.0% Underwriting expense ratio 4 5.8% 4 7.6% 4 6.1% 4 6.5% 4 7.8% 4 6.5% 5 0.6% Combined ratio 9 1.9% 8 9.7% 8 6.3% 8 1.3% 8 7.6% 8 9.4% 8 9.6% Combined ratio excl. catastrophe losses and prior year reserve development 8 0.9% 8 2.3% 8 0.9% 8 2.7% 8 2.5% 8 1.4% 8 6.2% Loss and LAE components: Current accident year, excluding catastrophe losses 3 5.1% 3 4.7% 3 4.8% 3 6.2% 3 4.7% 3 4.9% 3 5.6% Prior accident year loss reserve development (3.4%) 0 .1% 2 .3% (3.4%) (4.2%) (0.4%) (3.8%) Current accident year catastrophe losses 1 4.4% 7 .3% 3 .1% 2 .0% 9 .3% 8 .4% 7 .2% Loss and LAE ratio 4 6.1% 4 2.1% 4 0.2% 3 4.8% 3 9.8% 4 2.9% 3 9.0% Page 10

American Financial Group, Inc. Other Specialty - Underwriting Results (GAAP) ($ in millions) Three Months Ended Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Gross written premiums $ - $ - $ - $ - $ - $ - $ - Ceded reinsurance premiums 66 59 58 69 66 183 193 Net written premiums 66 59 58 69 66 183 193 Change in unearned premiums ( 5) 3 2 - ( 5) - ( 3) Net earned premiums 61 62 60 69 61 183 190 Loss and LAE 54 59 47 59 46 160 148 Underwriting expense 22 24 22 24 21 68 64 Underwriting profit (loss) $ ( 15) $ ( 21) $ ( 9) $ ( 14) $ ( 6) $ ( 45) $ ( 22) Included in results above: Current accident year catastrophe losses: Catastrophe reinstatement premium $ - $ - $ - $ - $ - $ - $ - Catastrophe losses 1 1 3 8 3 5 19 Total current accident year catastrophe losses $ 1 $ 1 $ 3 $ 8 $ 3 $ 5 $ 19 Prior year loss reserve development (favorable) / adverse $ 11 $ 22 $ 3 $ - $ 2 $ 36 $ - Combined ratio: Loss and LAE ratio 8 9.0% 9 5.3% 7 9.2% 8 2.8% 7 6.2% 8 7.9% 7 8.9% Underwriting expense ratio 3 4.9% 3 6.8% 3 7.7% 3 6.1% 3 3.6% 3 6.5% 3 3.0% Combined ratio 1 23.9% 1 32.1% 1 16.9% 1 18.9% 1 09.8% 1 24.4% 1 11.9% Combined ratio excl. catastrophe losses and prior year reserve development 1 04.7% 9 4.1% 1 06.8% 1 07.3% 1 01.2% 1 01.9% 1 01.7% Loss and LAE components: Current accident year, excluding catastrophe losses 6 9.8% 5 7.3% 6 9.1% 7 1.2% 6 7.6% 6 5.4% 6 8.7% Prior accident year loss reserve development 1 8.2% 3 7.4% 4 .8% 0 .9% 3 .7% 2 0.2% (0.1%) Current accident year catastrophe losses 1 .0% 0 .6% 5 .3% 1 0.7% 4 .9% 2 .3% 1 0.3% Loss and LAE ratio 8 9.0% 9 5.3% 7 9.2% 8 2.8% 7 6.2% 8 7.9% 7 8.9% Page 11

American Financial Group, Inc. Consolidated Balance Sheet ($ in millions) 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 6/30/23 Assets: Total cash and investments $ 15,741 $ 15,261 $ 15,254 $ 15,263 $ 14,794 $ 14,489 Recoverables from reinsurers 5,217 4,157 4,510 4,477 4, 421 3,852 Prepaid reinsurance premiums 1,346 1,143 1,078 961 1, 223 1,112 Agents' balances and premiums receivable 1,995 1,909 1,606 1,471 2, 088 1,796 Deferred policy acquisition costs 340 328 309 309 324 316 Assets of managed investment entities 4,332 4,695 4,669 4,484 4, 871 5,235 Other receivables 1,989 758 958 1,171 1, 377 721 Other assets 1,326 1,357 1,312 1,346 1, 422 1,281 Goodwill 305 305 305 305 305 246 Total assets $ 32,591 $ 29,913 $ 30,001 $ 29,787 $ 30,825 $ 29,048 Liabilities and Equity: Unpaid losses and loss adjustment expenses $ 14,206 $ 12,607 $ 13,050 $ 13,087 $ 12,891 $ 11,925 Unearned premiums 4,320 3,816 3,650 3,451 3, 997 3,686 Payable to reinsurers 1,620 1,176 1,078 1,186 1, 398 1,038 Liabilities of managed investment entities 4,168 4,536 4,468 4,307 4, 728 5,098 Long-term debt 1,475 1,475 1,475 1,475 1, 474 1,474 Other liabilities 2,094 1,919 2,040 2,023 2, 356 1,834 Total liabilities $ 27,883 $ 25,529 $ 25,761 $ 25,529 $ 26,844 $ 25,055 Shareholders' equity: Common stock $ 84 $ 84 $ 84 $ 84 $ 84 $ 85 Capital surplus 1,400 1,392 1,382 1,372 1, 372 1,377 Retained earnings 3,360 3,239 3,089 3,121 3, 095 3,042 Unrealized gains (losses) - fixed maturities (100) (290) (278) (287) (521) (464) Unrealized gains (losses) - fixed maturity-related cash flow hedges (7) (20) (22) (17) (34) (33) Other comprehensive income (loss), net of tax (29) (21) (15) (15) (15) (14) Total shareholders' equity 4,708 4,384 4,240 4,258 3, 981 3,993 Total liabilities and equity $ 32,591 $ 29,913 $ 30,001 $ 29,787 $ 30,825 $ 29,048 Page 12

American Financial Group, Inc. Book Value Per Share and Price / Book Summary (in millions, except per share information) 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 6/30/23 Shareholders' equity $ 4,708 $ 4,384 $ 4,240 $ 4,258 $ 3,981 $ 3,993 Accumulated other comprehensive income (loss) (1 36) (3 31) (3 15) (3 19) (570) (511) Shareholders' equity, excluding AOCI 4,844 4,715 4,555 4,577 4,551 4,504 Goodwill 305 305 305 305 305 246 199 204 208 213 217 102 Intangibles $ 4,340 $ 4,206 $ 4,042 $ 4,059 $ 4,029 $ 4,156 Tangible shareholders' equity, excluding AOCI Common shares outstanding 83.923 83.897 83.857 83.636 84.136 84.859 Book value per share: Book value per share $ 56.10 $ 52.25 $ 50.57 $ 50.91 $ 47.31 $ 47.06 Book value per share, excluding AOCI 57.71 56.19 54.32 54.72 54.09 53.07 Tangible, excluding AOCI 51.72 50.13 48.20 48.52 47.89 48.97 Market capitalization AFG's closing common share price $ 134.60 $ 123.02 $ 136.48 $ 118.89 $ 111.67 $ 118.75 Market capitalization $ 11,296 $ 10,321 $ 11,445 $ 9,943 $ 9,395 $ 10,077 Price / Book value per share, excluding AOCI 2.33 2.19 2.51 2.17 2.06 2.24 Page 13

American Financial Group, Inc. Capitalization ($ in millions) 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 6/30/23 AFG senior obligations $ 823 $ 823 $ 823 $ 823 $ 823 $ 823 - - - - - - Borrowings drawn under credit facility Debt excluding subordinated debt $ 823 $ 823 $ 823 $ 823 $ 823 $ 823 675 675 675 675 675 675 AFG subordinated debentures Total principal amount of long-term debt $ 1,498 $ 1,498 $ 1,498 $ 1,498 $ 1,498 $ 1 ,498 Shareholders' equity 4,708 4,384 4,240 4,258 3,981 3 ,993 (1 36) (3 31) (3 15) (3 19) (570) (511) Accumulated other comprehensive income (loss) Total capital, excluding AOCI $ 6,342 $ 6,213 $ 6,053 $ 6,075 $ 6,049 $ 6 ,002 Ratio of debt to total capital, excluding AOCI: Including subordinated debt 23.6% 24.1% 24.7% 24.7% 24.8% 2 5.0% Excluding subordinated debt 13.0% 13.2% 13.6% 13.5% 13.6% 1 3.7% Page 14

American Financial Group, Inc. Additional Supplemental Information ($ in millions) Three Months Ended Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Property and Casualty Insurance $ 897 $ 969 $ 989 $ 938 $ 805 $ 2,855 $ 2,488 Paid Losses (GAAP) 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 6/30/23 GAAP Equity (excluding AOCI) Property and Casualty Insurance $ 6,150 $ 5,919 $ 5,780 $ 5,710 $ 5,786 $ 5,581 (1,306) (1,204) ( 1,225) (1,133) (1,235) (1,077) Parent and other subsidiaries $ 4,844 $ 4,715 $ 4,555 $ 4,577 $ 4,551 $ 4,504 AFG GAAP Equity (excluding AOCI) Allowable dividends without regulatory approval Property and Casualty Insurance $ 946 $ 946 $ 946 $ 946 $ 887 $ 887 Page 15

American Financial Group, Inc. Total Cash and Investments ($ in millions) Carrying Value - September 30, 2024 Property and % of Casualty Parent & Consolidate Total AFG Investment Insurance Other CLOs Consolidated Portfolio Total cash and investments: Cash and cash equivalents $ 1,063 $ 259 $ - $ 1,322 8% Fixed maturities - Available for sale 10,356 79 - 10,435 67% Fixed maturities - Trading 78 - - 78 0% Equity securities - Common stocks 653 - - 653 4% Equity securities - Perpetual preferred 428 - - 428 3% Investments accounted for using the equity method 1,909 2 - 1,911 12% Mortgage loans 765 - - 765 5% Real estate and other investments 213 99 (163) 149 1% Total cash and investments $ 15,465 $ 439 $ (163) $ 15,741 100% 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 Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Property and Casualty Insurance: Gross investment income excluding alternative investments Fixed maturities $ 134 $ 133 $ 131 $ 131 $ 121 $ 398 $ 350 Equity securities 6 7 7 7 8 20 25 Other investments (a) 25 21 17 21 19 63 48 Gross investment income excluding alternative investments 165 161 155 159 148 481 423 Gross investment income from alternative investments (b) 36 33 56 5 25 125 158 Total gross investment income 201 194 211 164 173 606 581 Investment expenses (6) (5) (6) (3) ( 3) (17) (13) Total net investment income $ 195 $ 189 $ 205 $ 161 $ 170 $ 589 $ 568 Average cash and investments (c) $ 15,447 $ 15,346 $ 15,331 $ 15,227 $ 14,899 $ 15,389 $ 14,624 Average yield - fixed maturities before inv expenses (d) 5.06% 5.04% 4.93% 4.99% 4.68% 5. 01% 4. 56% Average yield - overall portfolio, net (d) 5.05% 4.93% 5.35% 4.23% 4.56% 5.10% 5.18% Average tax equivalent yield - overall portfolio, net (d) 5.10% 4.98% 5.42% 4.31% 4.63% 5. 16% 5. 25% AFG consolidated net investment income: Property & Casualty core $ 195 $ 189 $ 205 $ 161 $ 170 $ 589 $ 568 Parent & other 7 8 7 7 10 22 33 Consolidate CLOs (2) (9) (14) (9) (12) (25) (18) Total net investment income $ 200 $ 188 $ 198 $ 159 $ 168 $ 586 $ 583 Average cash and investments (c) $ 15,748 $ 15,617 $ 15,616 $ 15,540 $ 15,264 $ 15,682 $ 15,161 Average yield - overall portfolio, net (d) 5.08% 4.82% 5.07% 4.09% 4.40% 4.98% 5.13% Average yield - fixed maturities before inv expenses (d) 5.08% 5.06% 4.95% 5.01% 4.74% 5. 03% 4. 60% (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 Nine Months Ended 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 9/30/23 Property and Casualty Insurance: Net Investment Income Fixed maturities MTM through investment income $ 8 $ 1 $ 1 $ (2) $ (11) $ 10 $ 1 Equity securities MTM through investment income (a) 20 9 16 1 7 45 37 Investments accounted for using the equity method (b) 6 14 25 (3) 17 45 102 AFG managed CLOs (eliminated in consolidation) 2 9 14 9 12 25 18 Total Property & Casualty $ 36 $ 33 $ 56 $ 5 $ 25 $ 125 $ 158 Investments Fixed maturities MTM through investment income $ 51 $ 32 $ 18 $ 17 $ 17 $ 51 $ 17 Equity securities MTM through investment income (a) 563 544 494 440 411 563 411 Investments accounted for using the equity method (b) 1,909 1,880 1,846 1,812 1,806 1,909 1,806 AFG managed CLOs (eliminated in consolidation) 163 158 199 175 143 163 143 Total Property & Casualty $ 2,686 $ 2,614 $ 2,557 $ 2,444 $ 2,377 $ 2,686 $ 2,377 Annualized Return - Property & Casualty 5.4% 5.1% 9.0% 0.8% 4.2% 6.5% 9.2% AFG Consolidated: Net Investment Income Fixed maturities MTM through investment income $ 8 $ 1 $ 1 $ (2) $ (11) $ 10 $ 1 Equity securities MTM through investment income (a) 20 9 16 1 7 45 37 Investments accounted for using the equity method (b) 6 14 25 (3) 17 45 102 AFG managed CLOs (eliminated in consolidation) 2 9 14 9 12 25 18 Total AFG Consolidated $ 36 $ 33 $ 56 $ 5 $ 25 $ 125 $ 158 Investments Fixed maturities MTM through investment income $ 51 $ 32 $ 18 $ 17 $ 17 $ 51 $ 17 Equity securities MTM through investment income (a) 563 544 494 440 411 563 411 Investments accounted for using the equity method (b) 1,911 1,882 1,848 1,814 1,807 1,911 1,807 AFG managed CLOs (eliminated in consolidation) 163 158 199 175 143 163 143 Total AFG Consolidated $ 2,688 $ 2,616 $ 2,559 $ 2,446 $ 2,378 $ 2,688 $ 2,378 Annualized Return - AFG Consolidated 5.4% 5.1% 8.9% 0.8% 4.2% 6.5% 9.2% (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 September 30, 2024 Book Value (a) Fair Value Gain (Loss) Fair Value Portfolio US Government and government agencies $ 182 $ 180 $ (2) 2% 1% States, municipalities and political subdivisions 895 867 (28) 8% 6% Foreign government 289 290 1 3% 2% Residential mortgage-backed securities 1,892 1,811 (81) 17% 12% Commercial mortgage-backed securities 51 51 - 1% 0% Collateralized loan obligations 1,298 1,298 - 12% 8% Other asset-backed securities 2,459 2,425 (34) 23% 15% Corporate and other bonds 3,573 3,591 18 34% 23% Total AFG consolidated $ 10,639 $ 10,513 $ ( 126) 100% 67% Approximate duration - P&C 3.2 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 9/30/2024 ($ in millions) Fair Value by Type Credit Rating (a) US Gov Munis Frgn Gov RMBS CMBS CLOs ABS Corp/Oth Total % Total Investment grade AAA $ - $ 343 $ 269 $ 1,542 $ 43 $ 1,207 $ 892 $ 14 $ 4,310 41% AA 180 471 10 101 7 86 263 178 1,296 12% A - 43 5 51 1 4 613 954 1,671 16% BBB - 8 6 21 - - 513 2,059 2,607 25% Subtotal - Investment grade 180 865 290 1,715 51 1,297 2,281 3,205 9,884 94% BB - - - 1 - - 7 173 181 2% B - - - 2 - - 2 53 57 1% CCC, CC, C - - - 32 - - 3 18 53 0% D - - - - - - - - - 0% Subtotal - Non-Investment grade - - - 35 - - 12 244 291 3% Not Rated (b) - 2 - 61 - 1 132 142 338 3% Total $ 180 $ 867 $ 290 $ 1,811 $ 51 $ 1,298 $ 2,425 $ 3,591 $ 10,513 100% Fair Value by Type % Total NAIC designation US Gov Munis Frgn gov RMBS CMBS CLOs ABS Corp/Oth Total 1 $ 180 $ 853 $ 241 $ 1,720 $ 51 $ 1,250 $ 1,827 $ 1,154 $ 7,276 71% 2 - 8 - 19 - - 502 2,052 2,581 25% Subtotal 180 861 241 1,739 51 1,250 2,329 3,206 9,857 96% 3 - - - 8 - - 7 183 198 2% 4 - - - 1 - - 2 82 85 1% 5 - - - 4 - - 6 73 83 1% 6 - - - 4 - - - 2 6 0% Subtotal - - - 17 - - 15 340 372 4% Total insurance companies $ 180 $ 861 $ 241 $ 1,756 $ 51 $ 1,250 $ 2,344 $ 3,546 $ 10,229 100% No NAIC designation (c) - - - - - 1 22 7 30 Non-Insurance and Foreign Companies (d) - 6 49 55 - 47 59 38 254 Total $ 180 $ 867 $ 290 $ 1,811 $ 51 $ 1,298 $ 2,425 $ 3,591 $ 10,513 (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, 81% are NAIC 1 and 17% do not have a designation. For Corp/Oth, 13% are NAIC 1, 15% NAIC 2, 26% NAIC 4 and 38% NAIC 5. For Total, 50% are NAIC 1, 11% NAIC 4, 18% NAIC 5 and 9% 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 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 9/30/2024 ($ in millions) Fair Value By Industry Asset Other Basic Capital Credit Rating (a) Managers Banking Technology Insurance Financials Utilities Consumer Autos REITs Industry Retailers Healthcare Goods Media Other Total % Total Investment Grade AAA $ - $ - $ 11 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 3 $ 14 0% AA 5 - 23 44 33 5 40 - - - 10 15 - - 3 178 5% A 41 192 29 152 69 127 58 98 49 11 18 31 41 3 35 954 27% BBB 768 252 180 53 96 95 69 69 83 113 53 31 48 46 103 2,059 57% Subtotal 814 444 243 249 198 227 167 167 132 124 81 77 89 49 144 3,205 89% BB 24 6 8 1 3 - 20 5 6 17 36 5 2 30 10 173 5% B 3 2 3 - - - 11 - - - 19 9 4 - 2 53 1% CCC, CC, C - - 2 - - - - - - - - 11 - - 5 18 1% D - - - - - - - - - - - - - - - - 0% Subtotal 27 8 13 1 3 - 31 5 6 17 55 25 6 30 17 244 7% Not Rated (b) - - 17 7 27 - 18 - 8 - - 32 12 20 1 142 4% Total $ 841 $ 452 $ 273 $ 257 $ 228 $ 227 $ 216 $ 172 $ 146 $ 141 $ 136 $ 134 $ 107 $ 99 $ 162 $ 3,591 100% Fair Value By Industry Asset Other Basic Capital NAIC designation Managers Banking Technology Insurance Financials Utilities Consumer Autos REITs Industry Retailers Healthcare Goods Media Other Total % Total 1 $ 46 $ 189 $ 62 $ 194 $ 110 $ 132 $ 106 $ 98 $ 50 $ 11 $ 28 $ 46 $ 41 $ 3 $ 38 $ 1,154 33% 2 763 249 177 51 98 93 73 67 83 109 52 43 47 44 103 2,052 58% Subtotal 809 438 239 245 208 225 179 165 133 120 80 89 88 47 141 3,206 91% 3 24 6 9 1 5 - 26 5 6 17 36 6 2 30 10 183 5% 4 4 2 13 - 13 - 5 - - - 19 20 4 - 2 82 2% 5 - - 7 - 2 - 2 - 7 - - 18 12 20 5 73 2% 6 - - - - - - 2 - - - - - - - - 2 0% Subtotal 28 8 29 1 20 - 35 5 13 17 55 44 18 50 17 340 9% Total insurance companies $ 837 $ 446 $ 268 $ 246 $ 228 $ 225 $ 214 $ 170 $ 146 $ 137 $ 135 $ 133 $ 106 $ 97 $ 158 $ 3,546 100% No NAIC designation (c) - - - 7 - - - - - - - - - - - 7 Non-Insurance and Foreign Companies 4 6 5 4 - 2 2 2 - 4 1 1 1 2 4 38 Total $ 841 $ 452 $ 273 $ 257 $ 228 $ 227 $ 216 $ 172 $ 146 $ 141 $ 136 $ 134 $ 107 $ 99 $ 162 $ 3,591 (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) 13% of not rated securities are NAIC 1, 15% NAIC 2, 26% NAIC 4 and 38% NAIC 5. 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 9/30/2024 ($ in millions) Fair Value By Collateral Type Single Whole Commercial Secured Triple Net Family Credit Rating (a) Business Real Estate Financing (c) Lease Railcar TruPS Aircraft Rental Auto Other Total % Total Investment Grade AAA $ - $ 311 $ 25 $ 176 $ - $ 38 $ 8 $ 157 $ 70 $ 107 $ 892 37% AA 67 - 25 3 10 132 4 - - 22 263 11% A 10 - 69 17 173 18 111 - - 215 613 25% BBB 420 - 1 - 6 - 22 - - 64 513 21% Subtotal 497 311 120 196 189 188 145 157 70 408 2,281 94% BB - - 1 - - - 5 - - 1 7 0% B - - 1 - - - 1 - - - 2 0% CCC, CC, C - - - - - - 3 - - - 3 0% D - - - - - - - - - - - 0% Subtotal - - 2 - - - 9 - - 1 12 0% Not Rated (b) - - 102 - - - 3 - - 27 132 6% Total $ 497 $ 311 $ 224 $ 196 $ 189 $ 188 $ 157 $ 157 $ 70 $ 436 $ 2,425 100% Fair Value By Collateral Type Single Whole Commercial Secured Triple Net Family Business Real Estate Financing (c) Lease Railcar TruPS Aircraft Rental Auto Other Total % Total NAIC designation 1 $ 77 $ 286 $ 222 $ 193 $ 180 $ 185 $ 121 $ 151 $ 67 $ 345 $ 1,827 78% 2 409 - 1 - 7 - 22 - - 63 502 21% Subtotal 486 286 223 193 187 185 143 151 67 408 2,329 99% 3 - - 1 - - - 5 - - 1 7 1% 4 - - - - - - 2 - - - 2 0% 5 - - - - - - 5 - - 1 6 0% 6 - - - - - - - - - - - 0% Subtotal - - 1 - - - 12 - - 2 15 1% Total insurance companies $ 486 $ 286 $ 224 $ 193 $ 187 $ 185 $ 155 $ 151 $ 67 $ 410 $ 2,344 100% No NAIC designation - - - - - - - - - 22 22 Non-Insurance and Foreign Companies 11 25 - 3 2 3 2 6 3 4 59 Total $ 497 $ 311 $ 224 $ 196 $ 189 $ 188 $ 157 $ 157 $ 70 $ 436 $ 2,425 (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) 81% of not rated securities are NAIC 1 and 17% 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 Single Whole Commercial Secured Family Triple Net Business Real Estate 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 9/30/2024 ($ 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 $ 1,214 90% 94% 97% Fund Investments 75 6% - - QOZ Fund - Development 28 2% - - Office 16 1% 91% 100% Hospitality 10 1% - - Land Development 6 0% - - Total $ 1,349 100% Real Estate % of Property Type Book Value Book Value Debt Resort & Marina $ 49 51% $ - Marina 35 37% - Office Building 10 10% - Land 2 2% - Total $ 96 100% $ - Mortgage Loans % of Loan To Property Type Book Value Book Value Value Multifamily $ 542 71% 66% Hospitality 123 16% 49% Marina 52 7% 52% Office 48 6% 98% Total $ 765 100% 64% Currently, no loans are receiving interest deferral through forbearance agreements. (a) Total investments accounted for using the equity method is $1.9 billion, the amounts presented in this table only relate to real estate funds/investments. (b) Occupancy as of 9/30/24 (c) Collections for July - September 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 0% - - 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