Markel: Co-CEO Whitt to retire Dec 31, 2022; Gayner becomes sole CEO Jan 1, 2023

Thomas S. Gayner, Co-Chief Executive Officer, will become sole Chief Executive Officer on January 1, 2023, upon Mr. Whitt's retirement.

Robert C. Cox, the Company's President and Chief Operating Officer, Insurance Operations, will (i) become President and Chief Operating Officer, Global Insurance for the Company's insurance engine, reporting to Mr. Noble, and (ii) cease to be an executive officer of the Company.

the functions, duties and responsibilities of the Company's principal financial officer (as set forth by rules adopted under the Exchange Act), including relating to the Company’s periodic reporting on Form 10-Q and Form 10-K and the fulfillment of such functions, duties and responsibilities associated with the accompanying certifications to such filings, as well as the designation of the Company’s principal financial officer, will transition from Mr. Noble to Brian J. Costanzo, the Company’s Senior Vice President, Finance, Chief Accounting Officer and Controller.

effective January 1, 2023, Jeremy A. Noble, Senior Vice President and Chief Financial Officer, will become President, Insurance, of the Company.

Richard R. Whitt, III informed Markel Corporation (the Company) that effective 11:59:59 p.m. on December 31, 2022, he will be retiring and resigning (i) as a Co-Chief Executive Officer (Co-CEO) of the Company and (ii) as a member of the Company's Board of Directors (the Board).

On November 16, 2022, but effective January 1, 2023, the Board amended and restated the Company's Bylaws (as amended and restated, the Amended and Restated Bylaws) to, among other things: • incorporate additional requirements to the advance notice and other procedural requirements related to shareholder nominations for election of directors or proposals of business at meetings of shareholders, including additional information that a shareholder must include in a notice of a nomination and additional actions a shareholder must take (or refrain from taking) to comply with the SEC's universal proxy rules under Rule 14a-19 of the Exchange Act; • eliminate references contemplating multiple Chief Executive Officers; • give the Chief Executive Officer additional authority with respect to the appointment, removal and delegation of powers of subordinate officers; and • make other technical, conforming, modernizing or clarifying changes in certain other provisions.