MARKEL HOMES CONSTRUCTION COMP

participant's and the Company's contributions to the Plan and earnings thereon. The posting of earnings is made on a daily basis. d) Vesting and Plan Termination. Participants are immediately vested in their own contributions plus earnings thereon. Vesting in the Company's contributions plus earnings thereon is based on years of service as follows: Years of Vesting Service Vested Percentage Less than two years of service 0 % Two years of service 20 % Three years of service 50 % Four or more years of service 100 % 5 In accordance with the provisions of the Plan, any portion of the Company's contributions that have not vested at the time of a participant's withdrawal will be forfeited by the participant and applied to reduce future Company contributions or pay administrative expenses of the

y designate all or some of their contributions, including catch-up contributions, as Roth deferrals, which represent after-tax contributions to the Plan. Newly hired employees are automatically enrolled in the Plan at a contribution rate of 4 % of eligible compensation. Employees are also subject to a 1 % annual increase in these contributions, up to a maximum contribution rate of 10 %. Employees receive notice regarding these deemed elections before the automatic contributions begin and may opt out of the automatic contributions by either electing a different contribution percentage or electing not to contribute. Once a year, all active and eligible participants with a 0 % deferral election are automatically enrolled at a new contribution rate of 4 % of compensation, provided they have no

erest income on notes receivable from participants 693,850 570,453 Total additions 267,327,998 220,401,408 Participant distributions and withdrawals ( 125,151,396 ) ( 77,237,936 ) Administrative expenses ( 381,373 ) ( 259,509 ) Net increase $ 141,795,229 $ 142,903,963 Assets available for benefits: Beginning of year $ 982,226,534 $ 839,322,571 End of year $ 1,124,021,763 $ 982,226,534 See accompanying notes to financial statements. 3 MARKEL GROUP INC. RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 1. Summary of Significant Accounting Policies a) Basis of Presentation. The accompanying financial statements, which present the assets of the Markel Group Inc. Retirement Savings Plan (the Plan) and changes in those assets, have been prepared in conformity with United States (U.S.) genera