X0508 4 2025-12-11 0 0001849253 RYAN SPECIALTY HOLDINGS, INC. RYAN 0001870059 TURNER TIMOTHY WILLIAM 155 NORTH WACKER DRIVE, SUITE 4000 CHICAGO IL 60606 1 1 0 0 Chief Executive Officer 0 Class A Common Stock 2025-12-11 4 M 0 129964 A 142123 D Class A Common Stock 2025-12-12 4 S 0 129570 53.61 D 12553 D Class C Common Incentive Units [Right to Buy] 23.14 2025-12-11 4 M 0 222000 D Class A Common Stock 129964 165942 D The Class C Common Incentive Units were exchanged, pursuant to the terms of the operating agreement of New Ryan Specialty, LLC (the "LLC"), for a number of Common Units determined by reference to (1) the Class C Common Incentive Units' Return Threshold and (2) adjustments for certain prior tax distributions made with respect to such Class C Common Incentive Units. Such Common Units were then immediately redeemed on a one-for-one basis for shares of Class A Common Stock. The shares were sold by the Reporting Person to satisfy a separation of assets obligation as required by the Reporting Person's divorce settlement. The shares of Class A Common Stock were sold pursuant to a block trade transaction at a discount from the market price. The Class C Common Incentive Units' Return Threshold is used to determine the value of such units and, by extension, the number of shares of Class A Common Stock into which such units may be converted. The current Return Threshold of such units is $23.14. The units had a Return Threshold of $23.50 when issued, which, pursuant to the terms of the operating agreement of the LLC, is reduced on a one-for-one basis for each distribution from the LLC with respect to its Common Units. The LLC has made seven distributions for a total amount of $0.36 per unit with respect to its Common Units since the Reporting Person's Class C Common Incentive Units were issued. Represents Class C Common Incentive Units of Ryan Specialty Group, LLC. Such grant was approved by the Board of the Issuer for purposes of Rule 16(b)(3). The Class C Common Incentive Units may be exchangeable into a number of Common Units as described in the prior footnote, which will then be immediately redeemed on a one-for-one basis for Class A Common Stock of the Issuer based on the value of Common Units and the fair market value of the Class A Common Stock at the time of the applicable exchange. /s/ Mark S. Katz, as Attorney-in-Fact 2025-12-14