Financial Data and Key Metrics Changes - Total revenue for Q3 2024 was $1.3 billion, up 0.5% year-over-year [24] - Adjusted EBITDA increased 5.4% to $333 million, with an adjusted EBITDA margin of 24.9%, up 110 basis points [24] - Adjusted funds from operations (AFFO) for the quarter rose 52% to $208 million, with AFFO per share increasing 20% to $0.90 [25] Business Segment Data and Key Metrics Changes - Global warehousing segment, representing 87% of total NOI, saw total segment revenue grow 1.3% and total segment NOI increase by 4.4% to $383 million, with a warehouse NOI margin of 39.4% [26] - Same warehouse NOI grew 2.4% year-over-year, despite a decline in same warehouse economic occupancy to 84.1%, down 190 basis points [27] - Global integrated solutions segment, representing 13% of total NOI, experienced a revenue decrease of 1.6% to $363 million and a total segment NOI decline of 11% to $56 million [30] Market Data and Key Metrics Changes - Limited seasonal lift observed, with occupancy levels steady but below last year [12] - Competitive pressures noted in select markets due to speculative development and new supplies coming online [13] - Overall demand is stable but down compared to the previous year, as the industry continues to rebalance after supply chain disruptions [28] Company Strategy and Development Direction - Company is positioned as the acquirer of choice in the industry, focusing on strategic capital deployment and M&A opportunities [14][41] - Continued investment in technology, data science, and automation to drive operational efficiencies and enhance service offerings [8][41] - The company aims to leverage its strong balance sheet and investment-grade ratings to pursue attractive acquisition opportunities [32][41] Management's Comments on Operating Environment and Future Outlook - Management noted that customer inventory rationalization and high interest rates are impacting demand, but they remain optimistic about future recovery [12][45] - The company expects low single-digit same-store NOI growth for Q4 against a 9% comp, with a focus on controlling costs and improving labor efficiency [34][75] - Management emphasized the importance of their technology investments and operational excellence in navigating current market challenges [70][85] Other Important Information - The company declared its first quarterly dividend at an annualized rate of $2.11 per share [17] - The acquisition of ColdPoint Logistics for $223 million is expected to enhance the company's presence in the Kansas City area and is aligned with its investment criteria [22][23] - A rooftop solar panel fire at the Los Angeles facility caused significant damage, leading to an estimated $6 million headwind for Q4 [35][64] Q&A Session Summary Question: Demand and Pricing Power - Management acknowledged soft food volumes and customer inventory rationalization but expressed confidence in their ability to manage costs and maintain pricing power [44][48] Question: Automation Impact on Margins - Management indicated that fully automated facilities like Hazelton could achieve over 50% labor savings compared to traditional locations, enhancing overall productivity [51][54] Question: Acquisition Pipeline and Market Conditions - Management confirmed a robust acquisition pipeline post-IPO, with a disciplined approach to pursuing only the most accretive deals [56][59] Question: Fire Incident and Financial Impact - The fire incident at the Big Bear facility occurred in mid-August, with ongoing repairs expected to impact Q4 results but not carry over into 2025 [61][64] Question: Technology Rollout and EBITDA Impact - Management highlighted the rollout of LinOS technology aimed at improving labor efficiency, with expected benefits materializing in 2026 and beyond [70][73] Question: Customer Pricing Leverage - Management noted that larger customers currently have more leverage in pricing discussions due to the soft market, but emphasized their commitment to creating mutually beneficial solutions [103][106]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-42191 ___________________________________ Lineage, Inc. (Exact name of registrant as specified in its charter) _____________ ...

Lineage, Inc. Reports Third-Quarter 2024 Financial Results NOVI, Mich. – November 6, 2024 – Lineage, Inc. (NASDAQ: LINE) (the "Company"), the world's largest global temperaturecontrolled warehouse REIT, today announced its financial results for the third quarter of 2024. Third-Quarter 2024 Highlights • Raised $5.1 billion in gross proceeds from the Company's July 2024 IPO, marking the largest IPO of the year and largest real estate IPO of all-time • Total revenue increased 0.5% to $1.3 billion • Net loss of ...