X0407 4/A 2023-03-03 2023-03-07 0 0001849253 RYAN SPECIALTY HOLDINGS, INC. RYAN 0001869959 MULSHINE BRENDAN MARTIN TWO PRUDENTIAL PLAZA 180 N. STETSON AVE. CHICAGO IL 60601 0 1 0 0 See Remarks 0 Class C Common Incentive Units [Right to Buy] 40.90 2023-03-03 4 A 0 65274 A Class A Common Stock 65274 D Represents Class C Common Incentive Units of Ryan Specialty, LLC which vest 20% on each of April 1, 2026, 2027, 2028, 2029, and 2030. Such grant was approved by the Board of the Issuer for purposes of Rule 16(b)(3). The Class C Common Incentive Units will be exchangeable into Common Units, which will then be immediately redeemed on a one-for-one basis for Class A Common Stock, par value $0.001 ("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. The participation threshold of Class C Common Incentive Units is equal to the closing price of the Issuer's Class A Common Stock on the March 2, 2023. The Reporting Person disclaims beneficial ownership except to the extent of their pecuniary interest therein. This amended Form 4 is being filed to correct the Number of Derivative Securities Acquired in column 5 of Table II on the Form 4 that was previously filed on March 7, 2023, which was an estimate based on the information available on such date. Executive Vice President and Chief Revenue Officer Mark S. Katz, Attorney-in-Fact 2023-03-21