Lineage, Inc.

(19)Related-party balances

The Company pays Bay Grove Management a transition services fee and reimburses certain expenses pursuant to a transition services agreement executed in connection with the IPO, which replaced a previously existing operating services agreement. Pursuant to the operating services agreement, Bay Grove Management provided certain management and operating services to the Company. The Company is working with Bay Grove Management to internalize these services with Bay Grove Management’s assistance under the terms of the transition services agreement. During the years ended December 31, 2025, 2024, and 2023, the Company recorded $10 million, $12 million, and $11 million, respectively, of expenses in General and administrative expense for transition and operating services and expense reimbursements. Accounts payable and accrued liabilities included immaterial amounts in transition services fees and expenses owed to Bay Grove Management as of December 31, 2025 and 2024.

As of December 31, 2025 and December 31, 2024, Accrued dividends and distributions included dividends declared to all equity holders, including related parties.

The Company owns an investment stake in suppliers that are accounted for under the equity method of accounting, creating related-party relationships. The Company incurred costs of $15 million, $9 million, and $9 million with these suppliers for the years ended December 31, 2025, 2024, and 2023, respectively. Accounts payable and accrued liabilities included $3 million owed to these suppliers as of December 31, 2025. No such payables were outstanding as of December 31, 2024.

In a prior period, the Operating Partnership issued notes to certain individual BGLH investors and Non-Company LPs in order to fund certain investor transactions. These notes were repaid in full during the year ended December 31, 2024.

During the years ended December 31, 2025 and 2023, the Company donated $2 million and $5 million to the Lineage Foundation for Good (the “Foundation”), respectively, which is recorded in General and administrative expense in the consolidated statements of operations and comprehensive income (loss). No material donations were made during the year ended December 31, 2024. The Foundation was organized as a non-profit entity during 2021, and the Company has influence over the Foundation through board representation.