Aon plc

The Company repurchased 0.7 million class A ordinary shares for approximately $250 million in the third quarter.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

As of September 30, 2025, the Company had approximately $1.6 billion of remaining authorization under its share repurchase program.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

Free cash flow , defined as cash flow from operations less capital expenditures, increased 13%, to $1.9 billion for the first nine months of 2025 compared to the prior year period, reflecting an increase in cash flows provided by operations, partially offset by a $26 million increase in capital expenditures.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

Interest expense decreased $7 million compared to the prior year period, reflecting lower total debt.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

GAAP ), including Organic revenue growth, free cash flow, adjusted operating income, adjusted operating margin, adjusted earnings per share (EPS), adjusted net income attributable to Aon shareholders, adjusted diluted net income per share, adjusted effective tax rate, adjusted other income (expense), and adjusted income before income taxes that exclude the effects of intangible asset amortization and impairment, Accelerating Aon United Program expenses, contingent consideration, NFP transaction and integration costs, certain pension settlements, capital expenditures, and certain other noteworthy items that affected results for the comparable periods.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

Free cash flow is cash flows from operating activity less capital expenditures.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

Reinsurance Solutions Organic revenue growth of 8% reflects growth in treaty placements, driven by net new business and strong retention, partially offset by a modest unfavorable net market impact, and double-digit increases in both facultative placements and our Strategy and Technology Group.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

These statements include statements about our plans, objectives, strategies, financial performance and outlook, trends, prospects or other future events and involve known and unknown risks that are difficult to predict.

SEC original ↗Aon plc — 10-Q Quarterly report10-QOct 28, 2026

Accelerating Aon United Program In the third quarter of 2023, Aon initiated a three-year restructuring program called the Accelerating Aon United Program (the Program or the AAU Program ) with the purpose of streamlining the Company s technology infrastructure, optimizing its leadership structure and resource alignment, and reducing its real estate footprint to align to its hybrid working strategy.

SEC original ↗Aon plc — 10-Q Quarterly report10-QOct 28, 2026

The Program is an investment in the Company s 3x3 Plan that brings together the best of the firm through its Aon United strategy, delivered as Risk Capital and Human Capital, and Aon s Client Leadership model, powered by Aon Business Services.

SEC original ↗Aon plc — 10-Q Quarterly report10-QOct 28, 2026

These costs may include termination fees and other non-capitalizable costs associated with Program initiatives, which include professional service fees.

SEC original ↗Aon plc — 10-Q Quarterly report10-QOct 28, 2026

These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

or related to actions we may take in being responsible for making decisions on behalf of clients in our investment business or in other advisory services that we currently provide, or may provide in the future) the impact of, and potential challenges in complying with, laws and regulations in the jurisdictions in which Aon operates, particularly given the global nature of Aon s operations and the possibility of differing or conflicting laws and regulations, or the application or interpretation thereof, across jurisdictions in which Aon does business the impact of any regulatory investigations brought in Ireland, the U.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

See Aon s Annual Report on Form 10-K for the year ended December 31, 2024 for a further discussion of these and other risks and uncertainties applicable to Aon and its businesses.

SEC original ↗Aon plc — Earnings release (8-K exhibit)EX-99Oct 31, 2025

member states, among others, or other pending proposals in those and other countries, which could create volatility in that tax rate; changes in our accounting estimates and assumptions on our financial statements; limits on our subsidiaries ability to pay dividends or otherwise make payments to their respective parent entities; the impact of legal proceedings and other contingencies, including those arising from acquisition or disposition transactions, errors and omissions and other claims against us (including proceedings and contingencies relating to transactions for which capital was arranged by Vesttoo Ltd.

SEC original ↗Aon plc — 10-Q Quarterly report10-QOct 28, 2026

Legal Proceedings Item 1A.

SEC original ↗Aon plc — 10-Q Quarterly report10-QOct 28, 2026

Illiquid credit markets, volatile equity markets, and foreign currency exchange rate movements increase the uncertainty inherent in such estimates and assumptions.

SEC original ↗Aon plc — 10-Q Quarterly report10-QOct 28, 2026