X0202 SCHEDULE 13G/A 0001224962 XXXXXXXX LIVE 3 Common Stock, par value $0.0001 per share 03/31/2026 0002006986 Adagio Medical Holdings, Inc. 00534B100 26051 Merit Circle Suite 102 Laguna Hills CA 92653 Rule 13d-1(c) Perceptive Advisors LLC b DE 0 15321655 0 15321655 15321655 N 55.4 IA Joseph Edelman b X1 0 15321655 0 15321655 15321655 N 55.4 IN Perceptive Life Sciences Master Fund, Ltd. b E9 0 15120753 0 15120753 15120753 N 54.7 CO C2 Life Sciences LLC b DE 0 200902 0 200902 200902 N 0.9 OO Adagio Medical Holdings, Inc. 26051 Merit Circle, Suite 102, Laguna Hills, CA 92653 The names of the persons filing this report (collectively, the "Reporting Persons") with respect to shares of Common Stock, par value $0.0001 par value per share (the "Common Stock") of Adagio Medical Holdings, Inc. (the "Issuer") are: (i) Perceptive Advisors LLC ("Perceptive Advisors") (ii) Joseph Edelman ("Mr. Edelman") (iii) Perceptive Life Sciences Master Fund, Ltd. (the "Master Fund") (iv) C2 Life Sciences LLC ("C2") The address of the principal business office of each of the Reporting Persons is: 51 Astor Place, 10th Floor, New York, NY 10003 Perceptive Advisors is a Delaware limited liability company. Mr. Edelman is a United States citizen. The Master Fund is a Cayman Islands corporation. C2 is a Delaware limited liability company. Y The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover pages to this Schedule 13G. The ownership percentages are based on 22,210,459 outstanding shares of Common Stock as of May 8, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 12, 2026, and assume the exercise of warrants held by the Reporting Persons for 5,445,069 shares of Common Stock (the "Warrants"). The Master Fund is the holder of record of (i) 9,675,684 shares of Common Stock and (ii) Warrants exercisable for 5,445,069 shares of Common Stock. C2 is the holder of record of 200,902 shares of Common Stock. Perceptive Advisors serves as the investment manager to the Master Fund and C2, and Mr. Edelman is the managing member of Perceptive Advisors. Accordingly, Perceptive Advisors and Mr. Edelman have voting and investment discretion with respect to, and may be deemed to beneficially own, the shares of Common Stock and Warrants held of record by the Master Fund and C2. Perceptive Advisors: 55.4% Mr. Edelman: 55.4% Master Fund: 54.7% C2 Life Sciences LLC: 0.9% Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0 C2: 0 Perceptive Advisors: 15,321,655 Mr. Edelman: 15,321,655 Master Fund: 15,120,753 C2: 200,902 Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0 C2: 0 Perceptive Advisors: 15,321,655 Mr. Edelman: 15,321,655 Master Fund: 15,120,753 C2: 200,902 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. Perceptive Advisors LLC /s/ Joseph Edelman 05/15/2026 Joseph Edelman /s/ Joseph Edelman 05/15/2026 Perceptive Life Sciences Master Fund, Ltd. /s/ Joseph Edelman 05/15/2026 C2 Life Sciences LLC /s/ Joseph Edelman 05/15/2026