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SCHEDULE 13D/A 0000940603 XXXXXXXX LIVE 9 Common Stock, par value $0.0001 per share 12/31/2025 false 0001796209 00187Y100 APi Group Corporation 1100 Old Highway 8 NW New Brighton MN 55112 Mariposa Acquisition IV, LLC (786) 482-6333 c/o Mariposa Capital, LLC 500 South Pointe Drive, Suite 240 Miami Beach FL 33139 0000940603 N Sir Martin E. Franklin b OO N X0 56470049.00 0.00 33588798.00 0.00 56470049.00 N 12.9 IN Y Mariposa Acquisition IV, LLC b OO N DE 6137000.00 0.00 6137000.00 0.00 6137000.00 N 1.4 OO 0001725761 N MEF Holdings, LLLP b OO N DE 24740106.00 0.00 24740106.00 0.00 24740106.00 N 5.7 PN Y Brimstone Investments LLC b OO N DE 2711692.00 0.00 2711692.00 0.00 2711692.00 N 0.63 OO Common Stock, par value $0.0001 per share APi Group Corporation 1100 Old Highway 8 NW New Brighton MN 55112 This Amendment No. 9 (the "Amendment") amends the Statement on Schedule 13D, initially filed with the Securities and Exchange Commission (the "Commission") on April 29, 2020 (as amended by Amendment No. 1, filed on January 5, 2021, Amendment No. 2, filed on September 20, 2021, Amendment No. 3, filed on January 5, 2022, Amendment No. 4, filed on January 3, 2024, Amendment No. 5, filed on April 19, 2024, Amendment No. 6, filed on November 14, 2024, Amendment No. 7, filed on January 3, 2025 and Amendment No. 8, filed on November 5, 2025, the "Statement") with respect to the common stock, par value $0.0001 per share (the "Common Stock"), of APi Group Corporation, a Delaware corporation (the "Issuer"). The principal executive offices of the Issuer are located at 1100 Old Highway 8 NW, New Brighton, MN 55112. Unless specifically amended hereby, the disclosure set forth in the Statement shall remain unchanged. Capitalized terms used but not otherwise defined in this Amendment shall have the meanings set forth in the Statement. Item 4 is hereby amended by the addition of the following: On December 31, 2025, the Issuer declared, and on January 2, 2026, Mariposa was issued, 15,212,810 shares of Common Stock by the Issuer (the "2025 Dividend Shares") as a dividend on its Series A Preferred Stock. Effective as of January 2, 2026, Mariposa distributed the 2025 Dividend Shares to its members pursuant to its governing documents, including 5,771,316 shares of Common Stock to MEF Holdings, 2,168,331 shares of Common Stock to Brimstone, and 2,893,117 shares of Common Stock to each of Ashken and Lillie, or their affiliated entities, for no consideration (the "2026 Distribution"). Paragraphs (a) - (b) of the Statement are hereby amended and restated in their entirety as follows: (a)-(b) As of the date hereof, Sir Martin beneficially owns 56,470,049 shares of Common Stock (which includes Series A Preferred Stock convertible into Common Stock within 60 days) consisting of - sole power to vote, or to direct the vote and sole power to dispose, or to direct the disposition of, 33,588,798 shares of Common Stock (which includes 4,000,000 shares of Series A Preferred Stock convertible into 6,000,000 shares of Common Stock within 60 days) controlled or held, directly or indirectly, by one or more of the Franklin Reporting Persons; and - sole power to vote, or to direct the vote, of 22,881,251 shares of Common Stock pursuant to the Proxy Agreement. The shares beneficially owned by Sir Martin consist of (i) 24,740,106 shares of Common Stock held directly by MEF Holdings (or approximately 5.7%), (ii) 2,711,692 shares of Common Stock held directly by Brimstone (or approximately 0.63%), (iii) 4,000,000 shares of Series A Preferred Stock held by Mariposa that are convertible at any time at the option of the holder into 6,000,000 shares of Common Stock and 137,000 shares of Common Stock held directly by Mariposa (or approximately 1.4% in the aggregate), and (iv) 22,881,251 shares of Common Stock which Sir Martin has the sole power to vote pursuant to the Proxy Agreement (or approximately 5.3%). The percentages are calculated pursuant to Rule 13d-3(d) of the Exchange Act. The information set forth in Item 4 of this Statement is incorporated herein by reference. See Item 5 (a). Paragraph (c) of the Statement is amended to add the following: Effective as of January 2, 2026, Mariposa transferred an aggregate of 79,978 shares of Common Stock to employees of an affiliate of Mariposa for services provided. Except as otherwise described herein (or previously described in the Statement), no other transactions were effected by the Reporting Persons in the past 60 days. Exhibit D - Joint Filing Agreement among the Reporting Persons, dated January 3, 2025 (incorporated by reference to Exhibit D to the Statement filed by the Reporting Persons with respect to the Issuer on January 3, 2025). Exhibit E - 2021 Proxy Agreement, dated January 5, 2021 (incorporated by reference to Exhibit E to the Statement filed by the Reporting Persons with respect to the Issuer on January 5, 2021). Sir Martin E. Franklin /s/ Martin E. Franklin Sir Martin E. Franklin 01/02/2026 Mariposa Acquisition IV, LLC /s/ Martin E. Franklin Sir Martin E. Franklin / Manager 01/02/2026 MEF Holdings, LLLP /s/ Martin E. Franklin MEF Holdings, LLC, its general partner By: Mariposa Capital, LLC, the manager of MEF Holdings, LLC; Name: Sir Martin E. Franklin Title: CEO 01/02/2026 Brimstone Investments LLC /s/ Martin E. Franklin Sir Martin E. Franklin / Manager 01/02/2026