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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023, OR
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _________ to _________
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below: The Procter & Gamble Commercial Company Employees’ Savings Plan, Two Procter & Gamble Plaza,
Cincinnati, Ohio 45202.
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: c/o The Procter & Gamble Company, One Procter & Gamble Plaza, Cincinnati, Ohio 45202.
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Item 4
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Plan Financial Statements and Schedules Prepared in Accordance with the Financial Reporting Requirements of ERISA.
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SIGNATURE
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EXHIBIT INDEX
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The Procter & Gamble
Commercial Company
Employees' Savings Plan
Plan #002
EIN# 66-0676831
Financial Statements as of and for the
Years Ended December 31, 2023 and 2022,
Supplemental Schedule as of December 31, 2023,
and Report of Independent Registered Public Accounting Firm
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TABLE OF CONTENTS
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Page
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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1-2
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FINANCIAL STATEMENTS:
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Statements of Net Assets Available for Benefits as of December 31, 2023 and 2022
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3
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Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 2023 and 2022
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4
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Notes to Financial Statements as of and for the Years Ended December 31, 2023 and 2022
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5-10
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SUPPLEMENTAL SCHEDULES -
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11
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Form 5500, Schedule H, Part IV, Line 4i — Schedule of Assets (Held at End of Year) as of December 31, 2023
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12
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Form 5500, Schedule H, Part IV, Line 4i — Schedule of Reportable Transactions for the Year Ended December 31, 2023 | 13 | ||
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NOTE:
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All other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have
been omitted because they are not applicable.
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May 31, 2024
THE PROCTER & GAMBLE COMMERCIAL COMPANY
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EMPLOYEES’ SAVINGS PLAN
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STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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AS OF DECEMBER 31, 2023 AND 2022
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2023
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2022
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ASSETS:
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Investments — at fair value:
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Cash
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$ 3,579
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$ 29,335
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The Procter & Gamble Company common stock
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20,150,569
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21,732,643
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The J.M. Smucker Company common stock
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56,997
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74,001
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Common collective trust fund
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38,688
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35,837
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Mutual funds
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29,848,244
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27,976,912
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Total Investments
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50,098,077
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49,848,728
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Receivables -
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Other
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18,349
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15,792
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Total Receivables
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18,349
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15,792
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Total Assets
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50,116,426
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49,864,520
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LIABILITY — Excess contributions payable
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11,274
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-
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NET ASSETS AVAILABLE FOR BENEFITS
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$ 50,105,152
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$ 49,864,520
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See notes to financial statements.
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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EMPLOYEES’ SAVINGS PLAN
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STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022
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2023
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2022
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CONTRIBUTIONS:
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Participant contributions
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$ 274,786
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$ 266,228
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Employer contributions
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67,479
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64,729
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Total Contributions
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342,265
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330,957
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INVESTMENT INCOME/(LOSS):
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Net appreciation/(depreciation) in fair value of investments
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3,432,364
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(7,057,931)
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Dividends and interest
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1,224,006
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1,070,103
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NET INVESTMENT INCOME/(LOSS)
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4,656,370
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(5,987,828)
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DEDUCTIONS:
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Benefits paid to participants
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4,724,129
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559,922
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Administrative expenses
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33,874
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33,909
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Total Deductions
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4,758,003
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593,831
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NET INCREASE/(DECREASE) IN NET ASSETS
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240,632
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(6,250,702)
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NET ASSETS AVAILABLE FOR BENEFITS:
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Beginning of year
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49,864,520
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56,115,222
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End of year
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$ 50,105,152
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$ 49,864,520
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See notes to financial statements.
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EMPLOYEES’ SAVINGS PLAN
1.
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DESCRIPTION OF THE PLAN
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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3.
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FAIR VALUE MEASUREMENTS
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Fair Value Measurements | ||||
2023
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2022
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Cash - Level 1
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$ 3,579
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$ 29,335
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Common stock - Level 1
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20,207,566
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21,806,644
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Mutual funds - Level 1
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29,848,244
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27,976,912
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Sub-Total - Level 1
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50,059,389
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49,812,891
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Investments measured at NAV -
Common collective trust fund
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38,688
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35,837
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Total
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$ 50,098,077
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$ 49,848,728
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4.
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NON-PARTICIPANT DIRECTED INVESTMENT
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2023
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2022
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Net assets — The Procter & Gamble Company
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common stock
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$ 20,150,569
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$ 21,732,643
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2023
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2022
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Changes in net assets:
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Contributions
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$ 81,144
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$ 89,864
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Net (depreciation) in fair value of investments
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(660,284)
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(1,692,367)
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Dividends
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531,666
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512,909
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Benefits paid to participants
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(1,535,507)
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(243,705)
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Net transfers to participant-directed investments
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15,840
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(104,095)
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Management fees
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(14,933)
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(14,811)
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Net change
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(1,582,074)
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(1,452,205)
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The Procter & Gamble Company common stock — beginning
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of year
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21,732,643
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23,184,848
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The Procter & Gamble Company common stock — end of
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year
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$ 20,150,569
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$ 21,732,643
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5.
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EXEMPT PARTY-IN-INTEREST TRANSACTIONS
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2023
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2022
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Common stock:
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Shares
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137,509
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143,393
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Cost
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$ 9,903,116
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$ 9,881,685
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Dividend income
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$ 531,666
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$ 512,909
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6.
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PLAN TERMINATION
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7.
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TAX STATUS
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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EMPLOYEES’ SAVINGS PLAN
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FORM 5500, SCHEDULE H, PART IV, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
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AS OF DECEMBER 31, 2023
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EIN: 66-0676831
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PLAN: 002
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Description of
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Identity of Issue
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Investment
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Cost
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Fair Value
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*
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The Procter & Gamble Company
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Common stock
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$ 9,903,116
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$ 20,150,569
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The J.M. Smucker Company
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Common stock
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**
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56,997
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Vanguard FTSE All-World EX US Index Fund
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Mutual fund
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**
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1,672,978
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Vanguard Balanced Index Fund
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Mutual fund
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**
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5,232,811
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Vanguard Small Cap Index Fund
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Mutual fund
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**
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5,264,304
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Vanguard Inflation Protected Securities Fund
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Mutual fund
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**
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881,598
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Vanguard Total Bond Market Index Fund
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Mutual fund
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**
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1,487,279
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Vanguard Treasury Money Market-Inst Fund
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Mutual fund
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**
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3,280,493
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Vanguard Institutional Index Fund
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Mutual fund
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**
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12,028,781
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*
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Northern Trust Short Term Investment Fund
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Common Collective Trust
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**
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38,688
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*
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Banco Popular de P.R. (Time Deposit)
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Time deposit open account bearing interest at a variable rate (4.903% at December 31, 2023)
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**
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3,579
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Total
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$ 50,098,077
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*
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Party-in-interest.
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**
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Cost information is not required for participant-directed investments and therefore is not included.
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THE PROCTER & GAMBLE COMMERCIAL COMPANY
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EMPLOYEES’ SAVINGS PLAN
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FORM 5500, SCHEDULE H, PART IV, LINE 4j — SCHEDULE OF REPORTABLE TRANSACTIONS
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FOR THE YEAR ENDED DECEMBER 31, 2023
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EIN: 66-0676831
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PLAN: 002
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SINGLE TRANSACTIONS — None.
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SERIES OF TRANSACTIONS
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Current
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Value of
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Asset on
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Net
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Purchase
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Sales
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Cost of
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Transaction
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Gain
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Description of Asset
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Amount
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Amount
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Asset
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Date
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on Sale
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The Procter & Gamble Company common stock
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$ 826,608
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(51)
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-
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$ 826,608
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$ 826,608
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The Procter & Gamble Company common stock
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-
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1,740,771
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(31)
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801,885
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1,740,771
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938,886
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NOTES:
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All transactions are related to Parties in Interest.
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The number in parentheses represents the number of transactions in the series.
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