SEC Form SCHEDULE 13G filed by Medline Inc.

See Item 2(a).

See Item 2(a).

The information required by Items 4(a)-(c) with respect to each Reporting Person is set forth in Rows 5-11 of the applicable cover page hereto, and is incorporated herein by reference. As of December 31, 2025, the Reporting Persons may be deemed to beneficially own an aggregate of 215,303,036 shares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock") of Medline Inc. (the "Issuer") as follows: Mozart Aggregator II LP directly holds 142,918,680 shares of Class A Common Stock; BCP Mozart Aggregator L.P. directly holds 11,724 shares of Class A Common Stock and 72,372,632 Common Units of Medline Holdings, LP (a "Common Unit") and an equal number of shares of Class B common stock, par value $0.0001 per share (the "Class B Common Stock"). Mozart Aggregator II LP and BCP Mozart Aggregator L.P. are together referred to herein as the "Blackstone Holders." Shares of the Class B Common Stock have no economic value and have one vote per share. One share of Class B Common Stock is issued for each Common Unit held. Pursuant to the terms of an exchange agreement, dated as of December 16, 2025, holders have the right to exchange their Common Units for shares of the Class A Common Stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. These exchange rights do not expire. Upon a sale or an exchange of Common Units for shares of Class A Common Stock, an equivalent number of shares of Class B Common Stock held by such holder will be automatically cancelled. Blackstone Management Associates VIII L.L.C. is the general partner of Mozart Aggregator II LP. BCP 8 Holdings Mozart Manager L.L.C. is the general partner of BCP Mozart Aggregator L.P. BMA VIII L.L.C. is the general partner of Blackstone Management Associates VIII L.P. and is the managing member of BCP 8 Holdings Mozart Manager L.L.C. Blackstone Holdings II L.P. is the managing member of BMA VIII L.L.C. Blackstone Holdings I/II GP L.L.C. is the general partner of Blackstone Holdings II L.P. Blackstone Inc. is the sole member of Blackstone Holdings I/II GP L.L.C. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by its senior managing directors and controlled by its founder, Stephen A. Schwarzman. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of the information furnished by another Reporting Person. Each such Reporting Person may be deemed to beneficially own the Class A Common Stock beneficially owned directly by the Blackstone Holders or indirectly controlled by it or them, but neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any Reporting Person (other than the Blackstone Holders to the extent they directly hold Issuer securities reported herein) is the beneficial owner of the Class A Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Act"), or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such shares of Class A Common Stock. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a "group" for the purposes of Sections 13(d) and 13(g) of the Act.

Each of the Reporting Persons may be deemed to be the beneficial owner of the percentage of shares of Class A Common Stock listed on such Reporting Person's cover page, calculated pursuant to Rule 13d-3 of the Act. Calculations are based on 811,418,179 shares of Class A Common Stock outstanding as of December 18, 2025, as set forth in the Issuer's Final Prospectus filed pursuant to Rule 424(b)(4) filed with the Securities and Exchange Commission on December 18, 2025, following the underwriters' exercise in full of their option to purchase additional shares of Class A Common Stock, and assumes the conversion of all of the Common Units beneficially owned by each respective Reporting Person.

See the information set forth in Row 5 on each cover page.

See the information set forth in Row 6 on each cover page.

See the information set forth in Row 7 on each cover page.

See the information set forth in Row 8 on each cover page.