Blackstone Affiliates Reduce Stake in Medline Inc. to 20.6%

Blackstone Holdings II L.P., along with Blackstone Inc., Stephen A. Schwarzman, and several affiliated entities, filed an amendment to their Schedule 13G regarding their stake in Medline Inc. (MDLN). As of March 31, 2026, the reporting persons collectively beneficially own 187,083,713 shares of Class A Common Stock, representing 20.6% of the class. This reflects a decrease from the previously reported ownership of 215,303,036 shares, or 24.4%. The holdings are distributed across multiple entities, including BX Mozart ML-2 Holdco L.P., which directly holds 109,250,239 shares, and BX Mozart ML-1 Holdco L.P., which holds shares and exchangeable Common Units. The decrease in ownership percentage is calculated based on 845,611,435 shares outstanding following an underwriter option exercise. Blackstone Group Management L.L.C., controlled by founder Stephen A. Schwarzman, serves as the ultimate controlling entity. The reporting persons filed this statement under Rule 13d-1(d) and expressly disclaim beneficial ownership of the shares except to the extent of their pecuniary interest.