Ryan Specialty Announces IPO Launch

CHICAGO–(BUSINESS WIRE)–Ryan Specialty Group Holdings, Inc. (Ryan Specialty) today announced the launch of its first public offering of its Class A common stock. Ryan Specialty is offering 56,918,278 shares of its Class A common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (SEC). The price for the first public offering is expected to be between $22.00 and $25 per share. Ryan Specialty plans to grant the insurers the right to purchase up to 8,537,742 shares of its Class A common stock. Ryan Specialty has filed to list its Class A common stock on the New York Stock Exchange under the symbol RYAN.

Upon completion of the proposed IPO, Ryan Specialty will be the sole managing member of Ryan Specialty Group, LLC (Ryan Specialty Group) and will exclusively manage and control all operations and affairs.

Ryan Specialty intends to use the net proceeds of this offering to acquire (i) newly issued LLC units of Ryan Specialty Group, (ii) the equity of any entity through which an affiliate of Onex Corporation (TSX: ONEX ) its preferred unit holds interest in Ryan Specialty Group and (iii) outstanding Ryan Specialty Group LLC units of certain existing LLC unit holders at a purchase price per LLC unit equal to the initial public offering price per share of common stock of class A in this offer, less acceptance fees and commissions.

J.P. Morgan, Barclays, Goldman Sachs & Co. LLC and Wells Fargo Securities are acting as lead book-running managers, and UBS Investment Bank, William Blair, RBC Capital Markets, BMO Capital Markets and Keefe, Bruyette & Woods, A Stifel Company are acting as book-running managers for the proposed offering . Dowling & Partners Securities LLC, Wolfe |Nomura Strategic Alliance, Capital One Securities, CIBC Capital Markets, Loop Capital Markets, PNC Capital Markets LLC, Ramirez & Co., Inc. and Siebert Williams Shank are acting as co-managers for the proposed offering.

The proposed offering will be made solely by means of a prospectus. Copies of the preliminary prospectus relating to the offering, if available, may be obtained from: JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Phone: 1-866-803-9204 , or by emailing [email protected]; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or by emailing [email protected]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, Phone: 1-866-471-2526, Fax: 212-902-9316, or by emailing prospectus-ny@ ny .email.gs.com; or Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, Phone: (800) 326-5897, or by emailing [email protected].

A registration statement regarding these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, before the registration statement becomes effective. This press release does not constitute an offer to sell or a solicitation of an offer to purchase, nor will there be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. All offers, solicitations or offers to buy or sell securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Ryan Specialty

Ryan Specialty Group, founded by Patrick G. Ryan in 2010, is a fast-growing provider of specialty products and solutions to insurance brokers, agents and carriers. Ryan Specialty Group provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and managing insurer. Our mission is to provide leading innovative specialist insurance solutions for insurance brokers, agents and carriers.