Australian Retirement Trust Pty Ltd - 22 Dec 2025 Form 3 Insider Report for Partners Group Lending Fund, LLC (PGLF)

Role: 10%+ Owner
Signature: /s/ Antony Gold
Issuer symbol: PGLF
Transactions as of: 22 Dec 2025
Net transactions value: $0
Form type: 3
Filing time: 23 Dec 2025, 16:03:08 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Australian Retirement Trust Pty Ltd	10%+ Owner	AUSTRALIAN RETIREMENT TRUST, GPO BOX 2924, BRISBANE, AUSTRALIA	/s/ Antony Gold	23 Dec 2025	0002102620

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	PGLF	Common units						32,853,680	22 Dec 2025	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The beneficial ownership disclosed here consists of 27,463,330.66 common units owned by the holder and an estimated 5,390,348.94 common units reflecting an estimate of units purchased in December 2025 based on the Fund's net asset value ("NAV") as of November 30, 2025. Due to the timing of the calculation of the Fund's NAV, the final number of Common Units purchased, purchase price per Common Unit and the total amount of securities beneficially owned could not be determined at the time of the filing of this Registration Statement. An amendment to this Form 3 disclosing beneficial ownership based on the final Transaction Information will be filed following the definitive calculation of the Fund's NAV per share as of November 30, 2025.

Content

The beneficial ownership disclosed here consists of 27,463,330.66 common units owned by the holder and an estimated 5,390,348.94 common units reflecting an estimate of units purchased in December 2025 based on the Fund's net asset value ("NAV") as of November 30, 2025. Due to the timing of the calculation of the Fund's NAV, the final number of Common Units purchased, purchase price per Common Unit and the total amount of securities beneficially owned could not be determined at the time of the filing of this Registration Statement. An amendment to this Form 3 disclosing beneficial ownership based on the final Transaction Information will be filed following the definitive calculation of the Fund's NAV per share as of November 30, 2025.