Ms. Jill Homenuk reports

ONEX COMPLETES FINAL REALIZATION OF RYAN SPECIALTY, DELIVERING STRONG INVESTING RESULTS

Onex Corp. has sold approximately 4.1 million shares of Class A common stock of Ryan Specialty Holdings Inc. With this sale, Onex has fully exited its investment in Ryan Specialty and Onex's chief executive officer, Bobby Le Blanc, will retire from Ryan Specialty's board. All amounts are in United States dollars unless otherwise stated.

Proceeds to Onex from this sale are $226-million. In total, Onex has realized proceeds of $1.2-billion from its investment in Ryan Specialty, which equates to a 3.8 times multiple of capital and an IRR (internal rate of return) of 49 per cent.

Bobby Le Blanc said: "I am profoundly grateful to founder and chairman Pat Ryan, CEO Tim Turner and the entire Ryan Specialty team for their partnership and the tremendous amount of value they have created for all shareholders. It has been a privilege to work with them for the last seven years as they grew and cemented their position as a market leader in specialty insurance solutions. On behalf of Onex, I want to congratulate them on their achievements and wish them continued success."

Commenting on Mr. Le Blanc's departure, Patrick G. Ryan, founder and chairman of the board of directors of Ryan Specialty, said: "Bobby has been an exceptional director for Ryan Specialty, and we thank him for his contributions during the past seven-plus years. We also thank Onex for investing in Ryan Specialty prior to our IPO. That investment assisted us at an important time in our growth trajectory and proved to be immensely profitable for Onex as well. Following Onex's sale of its remaining shares of Ryan Specialty, it was mutually agreed that the time was right for Bobby to retire from the board."

About Onex Corp.

Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, the company has a long record of creating value for its clients and shareholders. Onex's investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices, and high-net-worth individuals. In total, Onex has approximately $57.2-billion in assets under management, of which $8.5-billion is Onex's own investing capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex's platforms.