SCHEDULE 13G/A 0001193125-24-032176 0001527166 XXXXXXXX LIVE 2 Common Stock, par value $0.0001 per share 08/28/2025 0001783183 Phathom Pharmaceuticals, Inc. 71722W107 100 Campus Drive Suite 102 Florham Park NJ 07932 Rule 13d-1(c) Carlyle Group Inc. DE 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 CO Carlyle Holdings I GP Inc. DE 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 CO Carlyle Holdings I GP Sub L.L.C. DE 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 OO Limited Liability Company Carlyle Holdings I L.P. DE 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 PN CG Subsidiary Holdings L.L.C. DE 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 OO Limited Liability Company TC Group, L.L.C. DE 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 OO Limited Liability Company Carlyle Investment Management L.L.C. DE 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 OO Limited Liability Company Carlyle Genesis UK LLC DE 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 OO Limited Liability Company Abingworth LLP X0 0.00 3496808.00 0.00 3496808.00 3496808.00 N 4.9 PN Abingworth Bioventures 8 LP X0 0.00 2061702.00 0.00 2061702.00 2061702.00 N 2.9 PN Abingworth Bioventures VII LP X0 0.00 1435106.00 0.00 1435106.00 1435106.00 N 2.0 PN Phathom Pharmaceuticals, Inc. 100 Campus Drive, Suite 102, Florham Park, NJ, 07932 Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: 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. Carlyle Investment Management L.L.C. Carlyle Genesis UK LLC Abingworth LLP Abingworth Bioventures 8 LP Abingworth Bioventures VII LP The principal business address of each of Abingworth LLP, Abingworth Bioventures 8 LP and Abingworth Bioventures VII LP is 1 St James's Market, London SW1Y 4AH United Kingdom. The principal business address of each of the other Reporting Persons is c/o The Carlyle Group, 1001 Pennsylvania Ave. NW, Suite 220 South, Washington, DC 20004-2505. Each of Abingworth LLP, Abingworth Bioventures 8 LP and Abingworth Bioventures VII LP is organized under the laws of England and Wales. Each of the other Reporting Persons is organized under the laws of the State of Delaware. Y The ownership information presented herein represents beneficial ownership of Common Stock of the Issuer as of the date hereof, based upon 70,943,708 shares of Common Stock outstanding on August 4, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on August 7, 2025. Solely due to dilution caused by the Issuer's issuance of additional Common Stock from time to time, and not in connection with a disposition of any Common Stock by the Reporting Persons, as of the date hereof, the Reporting Persons no longer beneficially own more than 5% of the outstanding Common Stock of the Issuer. Abingworth Bioventures 8 LP is the record holder of 2,061,702 shares of Common Stock and Abingworth Bioventures VII LP is the record holder of 1,435,106 shares of Common Stock. The Carlyle Group Inc., which is a publicly traded entity listed on Nasdaq, is the sole shareholder of Carlyle Holdings I GP Inc., which is the sole member of Carlyle Holdings I GP Sub L.L.C., which is the general partner of Carlyle Holdings I L.P., which, with respect to the securities reported herein, is the managing member of CG Subsidiary Holdings L.L.C., which is the managing member of TC Group, L.L.C., which is the managing member of Carlyle Investment Management L.L.C., which is the sole member of Carlyle Genesis UK LLC, which is the principal member of Abingworth LLP. Each of Abingworth Bioventures 8 LP and Abingworth Bioventures VII LP has delegated to Abingworth LLP all investment and dispositive power over the securities held of record by them. Accordingly, each of the foregoing entities may be deemed to share beneficial ownership of the securities held of record by Abingworth Bioventures 8 LP and Abingworth Bioventures VII LP, but each disclaims beneficial ownership of such securities. See Item 11 of each of the cover pages hereto. See Item 5 of each of the cover pages hereto. See Item 6 of each of the cover pages hereto. See Item 7 of each of the cover pages hereto. See Item 8 of each of the cover pages hereto. N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 99: Joint Filing Agreement (previously filed). Carlyle Group Inc. /s/ Anne Frederick, Attorney-in-fact 08/28/2025 Carlyle Holdings I GP Inc. /s/ Anne Frederick, Attorney-in-fact 08/28/2025 Carlyle Holdings I GP Sub L.L.C. By: Carlyle Holdings I GP Inc., its sole member, By: /s/ Anne Frederick, Attorney-in-fact 08/28/2025 Carlyle Holdings I L.P. /s/ Anne Frederick, Attorney-in-fact 08/28/2025 CG Subsidiary Holdings L.L.C. /s/ Anne Frederick, Attorney-in-fact 08/28/2025 TC Group, L.L.C. /s/ Anne Frederick, Attorney-in-fact 08/28/2025 Carlyle Investment Management L.L.C. By: /s/ Anne Frederick, Attorney-in-fact 08/28/2025 Carlyle Genesis UK LLC By: Carlyle Investment Management L.L.C., its sole member, By: /s/ Anne Frederick, Attorney-in-fact 08/28/2025 Abingworth LLP By: /s/ Emma O'Reilly 08/28/2025 Abingworth Bioventures 8 LP By: /s/ Emma O'Reilly 08/28/2025 Abingworth Bioventures VII LP By: /s/ Emma O'Reilly 08/28/2025