RYAN SPECIALTY HOLDINGS INC

Evaluation of Disclosure Controls and Procedures

We maintain “disclosure controls and procedures,” as defined in Rule 13a–15(e) and Rule 15d–15(e) under the

Exchange Act, that are designed to provide reasonable assurance that information required to be disclosed by the Company

in the reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the

time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation,

controls and procedures designed to provide reasonable assurance that information required to be disclosed by the

Company in the reports that we file or submit under the Exchange Act is accumulated and communicated to our

management, including our principal executive and principal financial officers, as appropriate to allow timely decisions

regarding required disclosure. Based on such evaluation, our principal executive officer and principal financial officer have

concluded that as of December 31, 2024, our disclosure controls and procedures were effective at the reasonable assurance

level.

Management’s Report on Internal Control Over Financial Reporting

Management of Ryan Specialty is responsible for establishing and maintaining adequate internal control over

financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. The Company’s internal control

over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the

preparation of financial statements for external purposes in accordance with U.S. GAAP, and includes those policies and

procedures that:

(1)Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions

and dispositions of the assets of the Company;

(2)Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial

statements in accordance with generally accepted accounting principles and that receipts and expenditures

of the Company are being made only in accordance with authorizations of management and directors of the

Company; and

(3)Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or

disposition of the Company’s assets that could have a material effect on the financial statements.

Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting

objectives because of its inherent limitations. Internal control over financial reporting is a process that involves human

diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal

control over financial reporting can also be circumvented by collusion or improper management override. Because of such

limitations, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control

over financial reporting. However, these inherent limitations are known features of the financial reporting process.

Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

Under the supervision and with the participation of our senior management, including our Chief Executive

Officer and Chief Financial Officer, we assessed the effectiveness of our internal control over financial reporting as of

December 31, 2024. In making this assessment, we used the criteria set forth by the Committee of Sponsoring

Organizations of the Treadway Commission in the Internal Control - Integrated Framework (2013 Framework). Ryan

Specialty acquired Castel Underwriting Agencies Limited (“Castel”) on May 1, 2024, US Assure Insurance Services of

Florida, Inc. (“US Assure”) on August 30, 2024, and Innovisk Capital Partners (“Innovisk”) on November 4, 2024.

Management excluded Castel, US Assure, and Innovisk from its assessment of the effectiveness of the Company’s internal

control over financial reporting as of December 31, 2024. This exclusion is in accordance with SEC guidance that an

assessment of a recently acquired business’s internal control over financial reporting may be omitted from management’s

report on internal control over financial reporting in the year of acquisition of the business. As of the year ended December

31, 2024, each of the acquisition’s assets(excluding goodwill and intangibles, which are included in the scope of the

assessment) as a percentage of the Company’s total assets were: Castel 1.9%, US Assure 1.5%, and Innovisk 0.7% and for

the year ended December 31, 2024, each of the acquisition’s revenue as a percentage of the Company’s revenue were:

Castel 1.6%, US Assure 1.9%, and Innovisk 0.4%. Based on this assessment, management has concluded that the Company

maintained effective internal control over financial reporting as of December 31, 2024.

The effectiveness of our internal control over financial reporting as of December 31, 2024 has been audited by

Deloitte & Touche LLP, the Company’s independent registered public accounting firm. The attestation report of our

independent registered public accounting firm on the effectiveness of our internal control over financial reporting is set

forth in Item 8 of this Annual Report on Form 10-K.

Changes in Internal Control Over Financial Reporting

There have been no changes in internal control over financial reporting during thethree months ended

December 31, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over

financial reporting.