Financial Data and Key Metrics - Total revenue grew 19.1% YoY to $585 million, driven by 16.1% organic growth [5][32] - Adjusted EBITDAC increased 16.9% YoY to $194 million, with a margin decline of 60 bps to 33.2% [25] - Net income for Q2 2023 was $84 million, or $0.26 per diluted share, while adjusted net income was $124 million, or $0.45 per diluted share [25] - The company expects GAAP interest expense of $31 million in Q3 and $29 million in Q4 [22] Business Line Performance - Property and casualty lines showed strong growth, particularly in transportation, driven by social inflation and carrier rate increases [21][24] - The Binding Authority specialty saw solid growth in traditional binding and personal lines despite capacity constraints [29] - Public company D&O, transactional liability, and construction-related lines faced headwinds, with modest growth expected in H2 [30] - The Wholesale Brokerage specialty performed well, with property and casualty lines benefiting from market conditions and higher reinsurance costs [45][46][47] - The Underwriting Management specialty delivered strong results, particularly in property, casualty, and reinsurance [48] Market Performance - The E&S (Excess and Surplus) market remained robust, with increased flow due to conservative appetites, rate increases, and tighter limit management [13][24][27] - California, a significant E&S market, showed double-digit growth in recent months, driven by personal lines and property [84][85] - The cyber market experienced rate deceleration, particularly in public D&O and excess layers, but remains a growth opportunity [42][86][112] Strategic Direction and Industry Competition - The company completed three strategic acquisitions in July, adding $40 million in annual revenue and expanding capabilities in professional lines, cyber, and benefits [7][8][17] - The ACCELERATE 2025 program is on track to deliver $35 million in annual savings by 2025, with $17 million in charges incurred in Q2 [12][51] - The company continues to invest in talent and innovation, particularly in areas like cat property and transportation, to capture market share and drive long-term growth [11][13][15] - The benefits market is a key focus, with acquisitions in medical stop-loss insurance and plans to expand into integrated health solutions [16][17][72] Management Commentary on Operating Environment and Outlook - Management expects favorable specialty insurance market dynamics to persist, with 2023 projected to be another strong year [14] - The company raised its full-year organic revenue growth guidance to 13.0%-14.5%, up from 10.5%-13.0%, while maintaining adjusted EBITDAC margin guidance of 29.0%-30.0% [52][55] - The E&S market is expected to remain a significant driver of growth, with flow into the non-admitted market outpacing rate increases [49] Other Key Information - The company paid for three acquisitions at the beginning of Q3, reducing operating funds relative to the Q2 balance sheet [22] - Fiduciary investment income partially offset margin pressures from hiring and T&E normalization [25][33] - The company remains disciplined in M&A, focusing on cultural fit, strategic alignment, and accretion [10] Q&A Session Summary Question: Updated organic growth guidance and property concentration - Q2 is the highest property concentration quarter, with Q4 being the next highest but not expected to match Q2 growth [36] - The company expects H2 growth to mirror H1, with strong contributions from casualty lines [55] Question: M&A pipeline and margin impact - The M&A pipeline remains robust, with discussions ongoing in the benefits market [57] - Acquisitions are expected to have a neutral margin impact, with no significant changes to seasonality or EBITDAC [59][74] Question: Cyber market dynamics - Cyber remains a growth opportunity despite rate deceleration, with the company well-positioned in binding authorities and MGUs [86][112][117] Question: California market and property E&S capabilities - The company is well-positioned in California, with strong capabilities in property and casualty, including a new high-net-worth personal lines facility [85][107][108] Question: ACCELERATE 2025 savings timing - Savings from the program are expected to materialize in 2024, with the full $35 million annual impact in 2025 [104] Question: Fiduciary assets and seasonality - Fiduciary asset fluctuations are normal and driven by timing factors, with no material changes to DSO or business mix [69] Question: Competitor T&E spending and growth opportunities - No significant pullback in competitor T&E spending has been observed, with the market remaining highly competitive [90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40645 RYAN SPECIALTY HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 86-2526344 (State or Other Jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40645 RYAN SPECIALTY HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 86-2526344 (State or Other Jurisdictio ...

c UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended DECEMBER 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-40645 RYAN SPECIALTY HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 86-2526344 (State or Other J ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40645 RYAN SPECIALTY HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 86-2526344 (State or Other Jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40645 RYAN SPECIALTY GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 86-2526344 (State or Other Juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) For the fiscal year ended DECEMBER 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-40645 RYAN SPECIALTY GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 86-2526344 (State or Other Jurisdiction of Incorporation) (IRS Employer Identification No.) Two Prudential Plaz ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40645 RYAN SPECIALTY GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 86-2526344 (State or Other J ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40645 RYAN SPECIALTY GROUP HOLDINGS, INC. Two Prudential Plaza 180 N. Stetson Avenue Suite 4600 Chicago, IL 60601 (Address of principal exe ...