Lineage, Inc.

(16)Employee benefit plans

(a)Multi-employer pension plans

The Company participates in various multi‑employer pension plans, which provide defined benefits to the Company’s covered U.S. union employees. A unique characteristic of a multi-employer plan compared to a single employer plan is that all plan assets are available to pay benefits of any plan participant. Separate asset accounts are not maintained for participating employers. This means that assets contributed by one employer may be used to provide benefits to employees of other participating employers. The Company’s funding policy is to contribute monthly the amount specified by the plans’ trustees. The Company contributed immaterial amounts to these plans during the years ended December 31, 2025, 2024, and 2023. There have been no significant changes that affect comparability of 2025, 2024, and 2023 contributions.

The Company’s contributions to these plans represent less than 5.0% of the total contributions made to the plans from all participating employers.

(b)Salary‑savings profit‑sharing plans

Under the Company’s Salary-Savings Profit-Sharing Plan (“Savings Plan”), participants may contribute a percentage of their annual gross wages to the Savings Plan, and the Company contributes matching amounts based on participant contributions. Total Company cash contributions to these plans were $45 million, $41 million, and $37 million during the years ended December 31, 2025, 2024, and 2023, respectively.

(c)Non-Qualified Deferred Compensation Plan

On November 1, 2022, the Company adopted a non-qualified deferred compensation plan (the “NQDC Plan”). Under the provisions of the NQDC Plan, certain senior management employees are eligible to defer payout of a portion of their annual base salary or annual bonus (if one is paid). The NQDC Plan was effective for compensation beginning on January 1, 2023.

The Company invests the compensation deferred by NQDC Plan participants into mutual fund investments and records a corresponding liability. The mutual fund investments are included within Other assets, and the corresponding liability is included in Other long-term liabilities in the consolidated balance sheets. The investments’ fair value is based on unadjusted quoted market prices for the respective funds in active markets, which represents Level 1 in the fair value hierarchy. As of December 31, 2025, the balance of the mutual fund investments and the corresponding liability was $7 million and $7 million, respectively. As of December 31, 2024, the balance of the mutual fund investments and the corresponding liability was $4 million and $4 million, respectively. During the years ended December 31, 2025, 2024, and 2023, the Company recorded deferred compensation expense related to the NQDC Plan of $3 million, $3 million, and $1 million, respectively. Changes in the fair value of the mutual fund investments and the corresponding change in the associated liability are included within Other nonoperating income (expense), net and General and administrative expense, respectively, in the consolidated statements of operations and comprehensive income (loss). These changes did not result in any material net impact to the consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2025 and 2024.