Lineage Announces Acquisition of Bellingham Cold Storage

Lineage, Inc. (NASDAQ:LINE) (the "Company"), the world's largest global temperature-controlled warehouse REIT, today announced its acquisition of three warehouses totaling approximately 24 million cubic feet and 85 thousand pallet positions from Bellingham Cold Storage ("BCS"). The acquired assets include three locations on the west coast of Washington state: the Bellingham Waterfront Warehouse Center, the Orchard/I-5 Warehouse Center and the Burlington Dry location.

The acquisition expands Lineage's network in the US Pacific Northwest region, which today includes 40 strategically located facilities across Washington, Oregon and Idaho. Additionally, the acquisition adds a strategic warehousing footprint at the Port of Bellingham, a critical hub for seafood and agricultural products.

"We are pleased to welcome Bellingham Cold Storage into the Lineage family. This strategic acquisition positions us to better serve customers in the Pacific Northwest and beyond," said Brian Beattie, President of North America West at Lineage. "Bellingham has long been a cornerstone of the seafood and agriculture industries, and these facilities will allow us to offer additional supply chain solutions for our customers."

"Lineage has recognized BCS as one of the highest-quality cold chain providers in North America, both for the dynamic nature of our operations as well as our exceptional service. I am confident they will be fantastic stewards of the business, maintaining our excellent track record of customer service and providing a welcoming home to our team members," said Doug Thomas, President and CEO of Bellingham Cold Storage. "On behalf of the BCS board and leadership team, I would like to express sincere gratitude to those who have contributed to our success over the past 79 years. Looking to the future, I look forward to seeing our combined teams continue to lead the way in employee and customer satisfaction in the cold chain."

"BCS is an important business in the community of Bellingham, and we look forward to continuing that tradition and supporting the local economy. Additionally, the Port of Bellingham is a valued and long-standing partner to BCS, and we're committed to further building that relationship," added Beattie. "Between the Port's ongoing modernization project and the fantastic, dedicated BCS team members who will join the Lineage team, we have many reasons to be excited about this acquisition. Lineage is better positioned than ever to be the premier cold chain partner in the Pacific Northwest."

For more information about Lineage's efforts to build a smarter, more sustainable and efficient food supply chain, visit onelineage.com.

About Lineage

Lineage, Inc. (NASDAQ:LINE) is the world's largest global temperature-controlled warehouse REIT with a network of over 485 strategically located facilities totaling approximately 86 million square feet and approximately 3.1 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world. Learn more at onelineage.com and join us on LinkedIn, Facebook, Instagram, and X.

About BCS

Bellingham Cold Storage (BCS) is a leading provider of temperature-controlled warehousing and logistics solutions, with 3 locations strategically located in the Pacific Northwest. Established in 1946, BCS operates state-of-the-art facilities that support the global food supply chain. Learn more at bellcold.com.

Forward Looking Statements

Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Lineage intends for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such forward-looking statements can generally be identified by Lineage's use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," "seek," "objective," "goal," "strategy," "plan," "focus," "priority," "should," "could," "potential," "possible," "look forward," "optimistic," or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Such statements are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of Lineage's performance in future periods. Except as required by law, Lineage does not undertake any obligation to update or revise any forward-looking statements contained in this release.

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