CP Circle ML Holdco GP, LLC - 16 Jan 2026 Form 3 Insider Report for Medline Inc. (MDLN)

Role: 10%+ Owner
Signature: CP Circle ML Holdco GP, LLC, By: TC Group VII, L.P., By: TC Group VII, L.L.C., By: TC Group Cayman Investment Holdings Sub L.P, By: TC Group Investment Holdings, L.P., By: CG Subsidiary Holdings L.L.C., By: /s/ Anne Frederick, Managing Director
Issuer symbol: MDLN
Transactions as of: 16 Jan 2026
Net transactions value: $0
Form type: 3
Filing time: 21 Jan 2026, 16:30:14 UTC
Next filing: 06 Mar 2026
SEC: View on sec.gov

Reporting Owners (9)

Name	Relationship	Address	Signature	Signature date	CIK
CP Circle ML Holdco GP, LLC	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML Holdco GP, LLC, By: TC Group VII, L.P., By: TC Group VII, L.L.C., By: TC Group Cayman Investment Holdings Sub L.P, By: TC Group Investment Holdings, L.P., By: CG Subsidiary Holdings L.L.C., By: /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102777
CP Circle ML-1 Holdco GP, LLC	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML-1 Holdco GP, LLC, By: TC Group VII, L.P., By: TC Group VII, L.L.C., By: TC Group Cayman Investment Holdings Sub L.P, By: TC Group Investment Holdings, L.P., By: CG Subsidiary Holdings L.L.C., By: /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102776
CP Circle ML-1 Holdco, L.P.	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML-1 Holdco, L.P., By: CP Circle ML-1 Holdco GP, LLC, TC Group VII, L.P., TC Group VII, L.L.C., TC Group Cayman Investment Holdings Sub L.P, TC Group Investment Holdings, L.P., CG Subsidiary Holdings L.L.C., /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102784
CP Circle ML-2 Holdco, L.P.	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML-2 Holdco, L.P., By: CP Circle ML Holdco GP, LLC, TC Group VII, L.P., TC Group VII, L.L.C., TC Group Cayman Investment Holdings Sub L.P, TC Group Investment Holdings, L.P., CG Subsidiary Holdings L.L.C., /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102783
CP Circle ML-3 Holdco, L.P.	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML-3 Holdco, L.P., By: CP Circle ML Holdco GP, LLC, TC Group VII, L.P., TC Group VII, L.L.C., TC Group Cayman Investment Holdings Sub L.P, TC Group Investment Holdings, L.P., CG Subsidiary Holdings L.L.C., /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102782
CP Circle ML-4 Holdco, L.P.	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML-4 Holdco, L.P., By: CP Circle ML Holdco GP, LLC, TC Group VII, L.P., TC Group VII, L.L.C., TC Group Cayman Investment Holdings Sub L.P, TC Group Investment Holdings, L.P., CG Subsidiary Holdings L.L.C., /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102781
CP Circle ML-5 Holdco, L.P.	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML-5 Holdco, L.P., By: CP Circle ML Holdco GP, LLC, TC Group VII, L.P., TC Group VII, L.L.C., TC Group Cayman Investment Holdings Sub L.P, TC Group Investment Holdings, L.P., CG Subsidiary Holdings L.L.C., /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102780
CP Circle ML-6 Holdco, L.P.	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML-6 Holdco, L.P., By: CP Circle ML Holdco GP, LLC, TC Group VII, L.P., TC Group VII, L.L.C., TC Group Cayman Investment Holdings Sub L.P, TC Group Investment Holdings, L.P., CG Subsidiary Holdings L.L.C., /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102779
CP Circle ML-7 Holdco, L.P.	10%+ Owner	C/O THE CARLYLE GROUP INC., 1001 PENNSYLVANIA AVE. NW SUITE 220 S, WASHINGTON,	CP Circle ML-7 Holdco, L.P., By: CP Circle ML Holdco GP, LLC, TC Group VII, L.P., TC Group VII, L.L.C., TC Group Cayman Investment Holdings Sub L.P, TC Group Investment Holdings, L.P., CG Subsidiary Holdings L.L.C., /s/ Anne Frederick, Managing Director	21 Jan 2026	0002102778

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MDLN	Class A Common Stock						111,994,953	16 Jan 2026	See footnotes	F1, F2
holding	MDLN	Class B Common Stock						55,557,381	16 Jan 2026	See footnotes	F1, F2, F3

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
holding	MDLN	Common Units of Medline Holdings, LP							16 Jan 2026	Class A Common Stock	55,557,381		See footnotes	F1, F2, F4

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

Explanation of Responses:

Id	Content
F1	Reflects (i) 268,411 shares of Class A Common Stock held by CP Circle ML-2 Holdco, L.P., (ii) 58,369,466 shares of Class A Common Stock held by CP Circle ML-3 Holdco, L.P., (iii) 26,655,381 shares of Class A Common Stock held by CP Circle ML-4 Holdco, L.P., (iv) 6,615,133 shares of Class A Common Stock held by CP Circle ML-5 Holdco, L.P., (v) 2,440,275 shares of Class A Common Stock held by CP Circle ML-6 Holdco, L.P., (vi) 17,636,833 shares of Class A Common Stock held by CP Circle ML-7 Holdco, L.P. and (vii) 9,454 shares of Class A Common Stock and 55,557,381 Common Units and shares of Class B Common Stock held by CP Circle ML-1 Holdco, L.P.
F2	The Carlyle Group Inc., a publicly traded company listed on Nasdaq, is the sole member of Carlyle Holdings II GP L.L.C., which is the managing member of Carlyle Holdings II L.L.C., which, with respect to the securities managed by TC Group VII, L.P., is the managing member of CG Subsidiary Holdings L.L.C., which is the general partner of TC Group Cayman Investment Holdings, L.P., which is the general partner of TC Group Cayman Investment Holdings Sub L.P., which is the sole member of TC Group VII, L.L.C., which is the general partner of TC Group VII, L.P., which is the managing member of CP Circle ML Holdco GP, LLC, which is the general partner of each of CP Circle ML-7 Holdco, L.P., CP Circle ML-6 Holdco, L.P., CP Circle ML-5 Holdco, L.P., CP Circle ML-4 Holdco, L.P., CP Circle ML-3 Holdco, L.P. and CP Circle ML-2 Holdco, L.P. TC Group VII, L.P. is also the managing member of CP Circle ML-1 Holdco GP, LLC, which is the general partner of CP Circle ML-1 Holdco, L.P.
F3	Shares of the Issuer's Class B common stock ("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 of Medline Holdings, LP ("Common Units") held. Upon an exchange of Common Units for shares of the Issuer's Class A common stock ("Class A Common Stock"), an equivalent number of shares of Class B Common Stock held by such holder will be automatically cancelled.
F4	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 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.

Remarks:

Due to the limitations of the electronic filing system, Carlyle Holdings II GP L.L.C., Carlyle Holdings II L.L.C., TC Group Cayman Investment Holdings, L.P., TC Group Cayman Investment Holdings Sub L.P., TC Group VII, L.L.C. and TC Group VII, L.P. are filing a separate Form 3. In future Section 16 filings, the Reporting Persons will also file jointly with The Carlyle Group Inc., Carlyle Holdings I GP Inc., Carlyle Holdings I GP Sub L.L.C., Carlyle Holdings I L.P., CG Subsidiary Holdings L.L.C., TC Group, L.L.C., TC Group Sub L.P., TC Group VII S1, L.L.C., TC Group VII S1, L.P., TC Group VIII Lux GP, S.a r.l., CPEP GP, LLC, CPEP Circle Holdings L.P., Carlyle Mozart Coinvestment Holdings, L.P. and CP Circle Holdings, L.P.