We are offering $500,000,000 aggregate principal amount of 5.400% senior notes due 2031 (the “notes”). We will pay interest on the notes on February1 and August1 of each year, beginning on February1, 2027. The notes willmature on August1, 2031. The interest rate payable on the notes will be subject to adjustment from time to time as described inthis prospectus supplement under the caption “Description of Notes — Interest Rate Adjustment.” We may redeem some or all ofthe notes at any time and from time to time prior to their maturity at the redemption price described herein under the caption“Description of Notes — Optional Redemption.” If a change of control triggering event occurs with respect to the notes, we will be required to make an offer to repurchasethe notes in cash from the holders thereof at a price equal to 101% of their principal amount, plus accrued and unpaid interest to,but not including, the date of repurchase. See “Description of Notes — Change of Control Offer.” The notes will be our senior unsecured obligations, will rank equally and ratably with all of our existing and future seniorunsecured debt and other liabilities and will be senior to all of our existing and future subordinated debt and other liabilities, butwill be effectively junior to our secured debt to the extent of the value of the collateral securing such debt, and will beeffectively junior to all existing and future secured and unsecured debt of our subsidiaries, including trade payables. The noteswill be exclusively our obligation, and not the obligation of any of our subsidiaries. The notes are a new issue of securities with no established trading market. We do not intend to apply to list the notes on anysecurities exchange or to have the notes quoted on any automated quotation system. Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapprovedof the notes or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representationto the contrary is a criminal offense. (1)Plus accrued interest from July28, 2026 if settlement occurs after that date, which is the fifth business day following thedate of this prospectus supplement (such settlement being referred to as “T+5”). Investing in the notes involves risks that are described or referred to in the “Risk Factors” section beginning on pageS-6of thisprospectus supplement. The underwriters expect to deliver the notes to purchasers through the book-entry delivery system of The Depository TrustCompany (“DTC”) for the benefit of its participants, including Euroclear Bank SA/NV (“Euroclear”) and Clearstream BankingS.A. (“Clearstream”) on or about July28, 2026, which is the fifth business day following the date of this prospectus supplement.Purchasers of the notes should note that trading of the notes may be affected by this settlement date. See “Underwriting(Conflicts of Interest)” beginning on pageS-33of this prospectus supplement. BMO Capital MarketsTruist Securities TABLE OF CONTENTS Prospectus Supplement PageAbout This Prospectus SupplementS-iiWhere You Can Find More InformationS-iiInformation We Incorporate by ReferenceS-iiNotice to Prospective Investors in the European Economic AreaS-iiiNotice to Prospective Investors in the United KingdomS-iiiDisclosure Regarding Forward-Looking StatementsS-vSummaryS-1Conagra Brands Summary Consolidated Financial DataS-5Risk FactorsS-6Use of ProceedsS-9CapitalizationS-10Description of NotesS-11Certain U.S. Federal Income Tax ConsiderationsS-26Certain ERISA and Related ConsiderationsS-31Underwriting (Conflicts of Interest)S-33Legal MattersS-40ExpertsS-40 Prospectus PageABOUT THIS PROSPECTUS1WHERE YOU CAN FIND MORE INFORMATION1INFORMATION WE INCORPORATE BY REFERENCE2DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS3THE COMPANY5RISK FACTORS5USE OF PROCEEDS5DESCRIPTION OF CAPITAL STOCK6DESCRIPTION OF DEBT SECURITIES8PLAN OF DISTRIBUTION16LEGAL MATTERS17EXPERTS17 ABOUT THIS PROSPECTUS SUPPLEMENT We provide information to you about this offering in two separate documents. The accompanyingprospectus provides general information about us and the securities we may offer from time to time, some ofwhich may not apply to this offering. This prospectus supplement describes the specific details regardingthis offering and the notes offered hereby. Additional information is incorporated by reference in thisprospectus supplement. If information in this prospectus supplement is inconsistent with the accompanyingprospectus, you should rely on this prospectus supplement. You should rely only on the information contained or incorporated by reference in this prospectussupplement, in the accompanying prospectus, in any free writing prospectus that we may provide to you andany other information to which we may refer you. We have not, and the underwriters have not, authorizedanyone to provide you with different information. You should not assume