Lineage, Inc. — Director's Dealing 2025

Nov 12, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lineage, Inc. (LINE)
CIK: 0001868159
Period of Report: 2025-11-10

Reporting Person: Burlage Kelly (Chief Human Resources Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-10	Common Stock	A	4442	—	Acquired	12068.16	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-10	LTIP Units	$	A	4442	Acquired		Common Stock (4442)	Direct

Footnotes

F1: Represents the grant of time-based restricted stock units ("RSUs"), which are contingent rights to receive shares of common stock ("Shares") on a one-for-one basis and which vest in equal annual installments as to 1/3 of the RSUs on each of November 10, 2026, 2027, 2028, subject to continued service with the Issuer through such dates.

F2: Represents the grant of time-based units of partnership interest in Lineage OP, LP (the "Operating Partnership") designated as LTIP Units ("LTIP Units") under the Agreement of Limited Partnership of the Operating Partnership dated as of July 24, 2024 (the "Partnership Agreement"). The LTIP Units vest in equal annual installment as to 1/3 of the LTIP Units on November 10, 2026, 2027 and 2028, subject to continued service with the Issuer through such dates. Subject to achieving certain capital account balances, each vested LTIP Unit may be converted, at the election of the holder, on a one-for-one basis to Partnership Common Units ("Partnership Common Units"),

F3: (Continued from footnote 2) which are units of partnership interest in the Operating Partnership, as designated under the Partnership Agreement. Holders of Partnership Common Units acquired from the conversion of LTIP Units have the right to redeem their Partnership Common Units in exchange for cash or, at the election of the Issuer, shares of common stock, on a one-for-one basis (subject to certain adjustments), provided at least 18 months have passed since the LTIP Units were granted. LTIP Units and Partnership Common Units do not have expiration dates.