Michael P. McCarthy - 02 Jan 2026 Form 4 Insider Report for New Mountain Net Lease Trust

Role: Director
Signature: /s/ Kellie Steele, as Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 02 Jan 2026
Net transactions value: $0
Form type: 4
Filing time: 12 Jan 2026, 19:39:50 UTC
Previous filing: 16 Dec 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
McCarthy Michael P	Director	1633 BROADWAY, 48TH FLOOR, NEW YORK	/s/ Kellie Steele, as Attorney-in-Fact	12 Jan 2026	0002047215

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction		Class E Partnership Units	Other	$0	+77		$0.000000	77	02 Jan 2026	Class E Common Shares of Beneficial Interest	77		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Class E Partnership Units of NEWLEASE Operating Partnership LP ("Class E Partnership Units") received by Reporting Person are redeemable for an equal number of Class E common shares of beneficial interest, par value $0.01 per share, of the Issuer (the "Class E Shares") or cash equal to the net asset value of such Class E Partnership Units, at the discretion of the Issuer. Class E Partnership Units have no expiration date.
F2	These securities were distributed to Reporting Person by NEWLEASE Special Limited Partner, LP in connection with Reporting Person's service as an employee of New Mountain Finance Advisers, L.L.C. or its affiliate, the Issuer's external investment adviser.

Content

Class E Partnership Units of NEWLEASE Operating Partnership LP ("Class E Partnership Units") received by Reporting Person are redeemable for an equal number of Class E common shares of beneficial interest, par value $0.01 per share, of the Issuer (the "Class E Shares") or cash equal to the net asset value of such Class E Partnership Units, at the discretion of the Issuer. Class E Partnership Units have no expiration date.

These securities were distributed to Reporting Person by NEWLEASE Special Limited Partner, LP in connection with Reporting Person's service as an employee of New Mountain Finance Advisers, L.L.C. or its affiliate, the Issuer's external investment adviser.