Medline Inc.

As used in this Quarterly Report, unless otherwise noted or the context requires otherwise, the following terms have the following meanings:

•“2029 Notes” refers to (i) the $4,500 million aggregate principal amount of senior secured notes issued in 2021, which bear interest at a fixed rate of 3.875% and mature on April 1, 2029, (ii) the $2,500 million aggregate principal amount of senior unsecured notes issued in 2021, which bear interest at a fixed rate of 5.250% and mature on October 1, 2029, and (iii) the senior secured notes issued in 2024 with an original aggregate principal amount of $1,500 million, which bear interest at a fixed rate of 6.250% and mature on April 1, 2029, of which $1,000 million aggregate principal amount remained outstanding as of June 27, 2026.

•“2031 Notes” refers to the $1,250 million aggregate principal amount of senior secured notes issued in 2026, which bear interest at a fixed rate of 5.000% and mature on June 15, 2031.

•“2033 Notes” refers to the $750 million aggregate principal amount of senior secured notes issued in 2026, which bear interest at a fixed rate of 5.250% and mature on June 15, 2033.

•“Class A Units” refers to the interests in Medline Holdings called “Class A Units” that were outstanding prior to the Reclassification. In connection with the Reclassification, (i) Class A Units held by Common Unitholders were converted into Common Units and (ii) Class A Units held by Exchanging Class A Unitholders were directly or indirectly exchanged for shares of Class A common stock.

•“Class B Units” refers to the interests in Medline Holdings called “Class B Units” that were outstanding prior to the Reclassification, and does not include CUPI Units. In connection with the Reclassification, (i) Class B Units held by Incentive Unitholders were converted into Incentive Units and (ii) Class B Units held by Exchanging Class B Unitholders were directly or indirectly exchanged for shares of Class A common stock (in the case of vested Class B Units) and/or restricted shares of Class A common stock (in the case of unvested Class B Units).

•“Common Units” refers to the new class of units of Medline Holdings created by the Reclassification and does not include Incentive Units.

•“Common Unitholders” refers to certain pre-IPO holders of Class A Units and/or CUPI Units who hold Common Units following the Reclassification.

•“CUPI Units” refers to the interests in Medline Holdings that were designated as “Catch-Up Class B Units” and outstanding prior to the Reclassification. In connection with the Reclassification, (i) CUPI Units held by Common Unitholders were converted into Common Units and (ii) CUPI Units held by Exchanging CUPI Unitholders were directly or indirectly exchanged for shares of Class A common stock.

•“Designating Stockholder” refers to each of our Principal Stockholders with whom we entered into separate director nomination agreements.

•“Exchanging Class A Unitholder” refers to pre-IPO holders of Class A Units whose Class A Units were directly or indirectly exchanged for shares of Class A common stock following the Reclassification.

•“Exchanging Class B Unitholder” refers to pre-IPO holders of Class B Units whose Class B Units were directly or indirectly exchanged for shares of Class A common stock (in the case of vested Class B Units) and/or restricted shares of Class A common stock (in the case of unvested Class B Units) following the Reclassification.

•“Exchanging CUPI Unitholder” refers to pre-IPO holders of CUPI Units whose CUPI Units were directly or indirectly exchanged for shares of Class A common stock following the Reclassification.

•“Exchanging Unitholders” refers collectively to Exchanging Class A Unitholders, Exchanging CUPI Unitholders, and Exchanging Class B Unitholders.

•“Incentive Units” refers to the new class of units of Medline Holdings created by the reclassification of the Class B Units in the Reclassification. The Incentive Units are “profit interests” having economic characteristics similar to stock appreciation rights and having the right to share in any equity value of Medline Holdings above specified participation thresholds. Vested Incentive Units may be converted to Common Units and be subsequently exchanged for shares of Class A common stock.

•“Incentive Unitholders” refers to certain pre-IPO holders of Class B Units who will hold Incentive Units following the Reclassification.

•“IPO” refers to our initial public offering of Class A common stock, which was completed on December 18, 2025.

•“Prime Vendor” refers to a relationship for which there is a multi-year distribution agreement between Medline and a customer, whereby the customer agrees to use Medline for the vast majority of its medical-surgical (“med-surg”) product needs. Our Prime Vendor model began in the acute care channel and, as these hospitals expanded into other sites of care, we have extended this model into the non-acute space to include those affiliated sites of care (“acute affiliated”). For purposes of the Prime Vendor data within this Quarterly Report, we are only including those customers that are acute and acute affiliated. Over time, we have also entered into Prime Vendor agreements with facilities that are non-acute and not affiliated with a hospital system (i.e., not acute affiliated). Data in this Quarterly Report does not include Prime Vendor relationships outside of acute and acute affiliated.

•“Principal Stockholders” refers collectively to investment funds associated with Blackstone Inc., The Carlyle Group Inc. and Hellman & Friedman LLC, and members of the Mills family.

•“Reclassification” refers to the reclassification of the partnership interests of Medline Holdings prior to the IPO.

•“Senior Notes” refers collectively to the 2029 Notes, the 2031 Notes, and the 2033 Notes.

•“Sponsors” refers collectively to Blackstone Inc., The Carlyle Group Inc., and Hellman & Friedman LLC.

•“Units” refers collectively to Common Units and Incentive Units.