Lineage, Inc.

(20)Subsequent events

(a)Business combinations and asset acquisitions

On April 1, 2025, the Company purchased three warehouse campuses from Bellingham Cold Storage (“BCS”) for $121 million in cash consideration. BCS is a leading provider of temperature-controlled warehousing and logistics solutions. The acquisition of the BCS assets allows the Company to expand its warehousing network in the Pacific Northwest and adds a footprint at the Port of Bellingham. The initial accounting for this acquisition is incomplete at this time.

In April 2025, the Company entered into an agreement to acquire four cold storage warehouses and other related assets from Tyson Foods for approximately $247 million in cash. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2025. Additionally, the transaction contains a closing condition that the Company enter into an agreement to design, build, and operatetwo fully automated cold storage warehouses, with Tyson Foods as the anchor customer, estimated to cost over $740 million. The initial accounting for this acquisition is incomplete at this time.

(b)Stock-based compensation

In April 2025, the Company granted employees stock-based compensation consisting of 1,448,657 RSUs with an approximate $81 million of expense to be recognized over the vesting term,253,352 Performance-based RSUs with an approximate $14 million of expense to be recognized over the vesting term,132,359 time-based LTIP Units with an approximate $7 million of expense to be recognized over the vesting term, and 466,557 performance-based LTIP Units with an approximate $13 million of expense to be recognized over the vesting term. These grants will generally vest over 3 years.