Partners Group (USA) Inc. - Oct 1, 2025 Form 4 Insider Report for Lincoln Partners Group Royalty Fund (LNPIX)

Role: Subadviser to the Issuer
Signature: /s/ Helen Flood
Stock symbol: LNPIX
Transactions as of: Oct 1, 2025
Transactions value $: $12,495,626
Form type: 4
Date filed: 10/2/2025, 01:10 PM
Previous filing: Sep 30, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Partners Group (USA) Inc.	Subadviser to the Issuer	1114 AVENUE OF THE AMERICAS, 37TH FLOOR, NEW YORK	/s/ Helen Flood	2025-10-02	0001459492

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LNPIX	Class I Shares	Purchase	$12.5M	+1.18M		$10.57	$12.5M	Oct 1, 2025	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Seed capital investment by Subadviser for October 1, 2025 subscription period. The amount of shares purchased, the price and the amount of shares beneficially owned after the transaction are estimated using a net asset value ("NAV") from August 31, 2025 due to the timing of the calculation of the Issuer's NAV, which is not available at the time of this filing.