SCHEDULE 13G/A 0001145037 XXXXXXXX LIVE 3 Class A Common Stock, par value $0.001 per share 03/31/2025 0001849253 RYAN SPECIALTY HOLDINGS, INC. 78351F107 155 NORTH WACKER DRIVE SUITE 4000 Chicago IL 60606 Rule 13d-1(d) Patrick G. Ryan X1 127423125 0 127423125 0 127423125 N 53.38 IN The table presents (i) 15,374,941 shares of Class A common stock, par value $0.001 per share ("Class A Shares") and (ii) 112,048,184 Class A Shares issuable upon conversion of the Common Units of New Ryan Specialty, LLC ("Common Units"), together with the cancellation of an equivalent number of shares of Class B common stock, par value $0.001 per share ("Class B Shares"). The percent ownership presented in the tables are calculated based on (i) 126,642,917 Class A Shares outstanding as of April 30, 2025, as reported on the Issuer's Form 10-Q, filed on May 2, 2025, plus (ii) 112,048,184 Class A Shares issuable upon conversion of 112,048,184 Common Units (and cancellation of Class B Shares). Shirley W. Ryan X1 127423125 0 127423125 0 127423125 N 53.38 IN The table presents (i) 15,374,941 Class A Shares and (ii) 112,048,184 Class A Shares issuable upon conversion of the Common Units, together with the cancellation of an equivalent number of Class B Shares. The percent ownership presented in the tables are calculated based on (i) 126,642,917 Class A Shares outstanding as of April 30, 2025, as reported on the Issuer's Form 10-Q, filed on May 2, 2025, plus (ii) 112,048,184 Class A Shares issuable upon conversion of 112,048,184 Common Units (and cancellation of Class B Shares). Robert J. W. Ryan X1 127423125 0 127423125 0 127423125 N 53.38 IN The table presents (i) 15,374,941 Class A Shares and (ii) 112,048,184 Class A Shares issuable upon conversion of the Common Units, together with the cancellation of an equivalent number of Class B Shares. The percent ownership presented in the tables are calculated based on (i) 126,642,917 Class A Shares outstanding as of April 30, 2025, as reported on the Issuer's Form 10-Q, filed on May 2, 2025, plus (ii) 112,048,184 Class A Shares issuable upon conversion of 112,048,184 Common Units (and cancellation of Class B Shares). RYAN SPECIALTY HOLDINGS, INC. 155 North Wacker Drive Suite 4000 Chicago, IL 60606 This statement is filed by Patrick G. Ryan, referred to herein as the "Reporting Person," and each of Shirley W. Ryan and Robert J. W. Ryan, collectively referred to herein as the "Additional Reporting Persons". 155 North Wacker Drive Suite 4000 Chicago, IL 60606 See responses to Item 4 on each cover page. Y See responses to Item 9 on each cover page. The reported securities include 15,374,941 Class A Shares and 112,048,184 Class A Shares issuable in respect of 112,048,184 Common Units and Class B Shares (collectively, the "Reported Securities"). The Common Units (together with an equal number of corresponding Class B Shares delivered for cancellation) are convertible into an equivalent number of Class A Shares (unless the Issuer chooses to settle such conversions in cash) and, prior to such exchange, the Class B Shares vote together with the Class A Shares on all matters and accordingly provide as-converted voting rights to the holder of Common Units. See responses to Item 11 on each cover page. See responses to Item 5 on each cover page. Pursuant to the Director Nomination Agreement, dated as of July 26, 2021, among Ryan Specialty Holdings, Inc., the Reporting Person and the other parties thereto (the "Agreement"), the Reporting Person serves as the authorized representative with discretion to exercise voting rights with respect to the Issuer's securities held by parties thereto (the "Ryan Party Securities"). In addition, the Reporting Person may have shared or sole control over the voting or disposition of Issuer securities that are held in certain trusts, entities and accounts managed by, or for the benefit of, members of the Reporting Person's immediate family and others, but which are not Ryan Party Securities under the Agreement ("Additional Ryan Securities"). With respect to the foregoing, in exercising such discretion with respect to the Ryan Party Securities and the Additional Ryan Securities (together, the "Reported Securities"), the Reporting Person consults with each of the Additional Reporting Persons, and as a result, each of the Reporting Person and the Additional Reporting Persons may be deemed to beneficially own the Reported Securities. The filing of this Statement shall not be construed as an admission that any of the Reporting Person, his spouse or any of the Additional Reporting Persons is or are for the purpose of Section 13(d) or 13(g) of the Exchange Act, the beneficial owner of any securities covered by this Statement. See responses to Item 6 on each cover page. See responses to Item 7 on each cover page. See responses to Item 8 on each cover page. Y Y Y Y Y Y Patrick G. Ryan /s/ Patrick G. Ryan 05/08/2025 Shirley W. Ryan /s/ Shirley W. Ryan 05/08/2025 Robert J. W. Ryan /s/ Robert J. W. Ryan 05/08/2025