Ryan

Investment Thesis

• Market Leading franchise
• Strong organic growth
• Attractive financial profile

Investment Overview

Ryan is a leading global tax services and software provider and is the largest firm in the world dedicated exclusively to business taxes. The company provides an integrated suite of federal, state, local and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan’s multidisciplinary team of more than 7,100 professionals and associates serves over 74,000 clients in more than 80 countries, including many of the world’s most prominent Global 5000 companies.

Neuberger believes Ryan is a differentiated platform sitting at the intersection of tax expertise, technology and client service. We believe the Company is exceptionally well positioned to benefit from long-term secular trends in tax regulation, compliance, and digital transformation. Neuberger’s investment is to support Ryan’s strategic vision and growth plans alongside existing shareholders and share the commitment to Ryan’s strategy of investing in its people, expanding into new markets, and advancing its consulting, software, and technology capabilities to deliver sustainable value creation.