AFL · Aflac Incorporated

Aflac Incorporated completed a $500 million public offering of senior unsecured notes carrying a 5.150% coupon maturing in 2036. The notes were issued pursuant to an effective S-3ASR shelf registration and sold under a May 11 underwriting agreement led by Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., and Wells Fargo Securities, LLC. The Forty-Seventh Supplemental Indenture governs the terms, with The Bank of New York Mellon Trust Company, N.A. as trustee. Key investor terms include semi-annual interest payments commencing November 14, 2026, optional redemption before the Par Call Date (February 14, 2036) at the greater of par or a make-whole premium based on Treasury Rate plus 15 basis points, and par thereafter plus accrued interest. The notes rank equally with Aflac's other senior unsecured debt. Proceeds will support general corporate purposes, providing the company with long-term fixed-rate funding amid its insurance operations.