AGÕæÈ˹ٷ½

Keith M. Correia, Chief Information Officer of Portillo's Inc. (PTLO), acquired shares under the company ESPP and reported related withholding. On 08/31/2025 he purchased 128 shares of Class A common stock at $6.37 per share through the Portillo's 2022 Employee Stock Purchase Plan for the June 1, 2025 to August 31, 2025 purchase period; the ESPP purchase price was 90% of the issuer's closing price on August 29, 2025. The filing also shows a disposition of 3 shares on 08/31/2025 to satisfy tax withholding on a vesting award, leaving Mr. Correia with 29,439 shares beneficially owned following the reported transactions. The form was signed by an attorney-in-fact on 09/03/2025.

Portillo's Inc. (PTLO) reporting person Michael K. Ellis, Chief Development Officer, purchased shares under the company Employee Stock Purchase Plan. The Form 4 shows Mr. Ellis acquired 246 shares of Class A common stock on 08/31/2025 at a purchase price of $6.37 per share under the 2022 ESPP, which offered a 90% purchase price of the closing share price on the relevant lookback date. The filing also shows 5 shares were deducted to satisfy tax withholding on the vesting of the award, leaving beneficial ownership of 48,569 Class A shares following the transactions.

Portillo's Inc. (PTLO) reporting person Kelly M. Kaiser, General Counsel and Secretary, purchased shares under the company's 2022 Employee Stock Purchase Plan for the June 1, 2025 to August 31, 2025 purchase period. On 08/31/2025 Ms. Kaiser acquired 827 shares of Class A common stock at an effective purchase price of $6.37 per share (the ESPP price equals 90% of the August 29, 2025 closing price). The filing also shows 24 shares were deducted to satisfy tax withholding on the vesting of the award, leaving total reported beneficial ownership of 69,298 shares following the transactions. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Jill Francine Waite, Chief People Officer of Portillo's Inc. (PTLO), reported transactions in the issuer's Class A common stock dated 08/31/2025. The filing shows 305 shares acquired under the Portillo's 2022 Employee Stock Purchase Plan at a purchase price equal to $6.37 per share (90% of the closing price on August 29, 2025). The filing also reports 8 shares deducted to satisfy tax withholding on a vesting award. Following the reported transactions, beneficial ownership is shown as 54,944 shares on the acquisition line and 54,936 shares on the withholding line. The Form 4 was submitted by Kelly M. Kaiser as attorney-in-fact for Ms. Waite and is dated 09/03/2025.

Portillo's Inc. (PTLO) insider disposition reported by Chief Development Officer Michael K. Ellis. The filing shows a sale of 1,133 shares of Class A common stock on 08/29/2025 at a reported price of $7.08 per share to satisfy tax withholding on vested awards. After the transaction, Mr. Ellis beneficially owned 48,328 shares, held directly. The form indicates the sale was a withholding to cover taxes on a previously disclosed award, not an open-market discretionary sale. The filing is signed by an attorney-in-fact on 09/02/2025.

Schedule 13G/A � Portillo's Inc. (PTLO)

Berkshire-affiliated reporting persons disclose aggregate beneficial ownership of 3,859,067 shares of Portillo's Class A common stock, representing approximately 5.2% of the Class A shares outstanding. The position includes 2,813,437 units of PHD Group Holdings LLC that are exchangeable one-for-one into Class A shares, plus 1,045,630 Class A shares held directly by Berkshire Fund VIII-A, L.P. The reporting parties indicate no sole voting or dispositive power and report shared voting and dispositive power over the full aggregate position.

The filing describes the reporting persons as a set of related investment vehicles and advisers that may be deemed a group but disclaims that characterization. The statement also notes that Joshua Lutzker, a Managing Director of Berkshire Partners, serves as a director of the issuer.

AllianceBernstein L.P. reports beneficial ownership of 5,777,921 shares of Portillo's Inc common stock, representing 9.0% of the class. The filing shows sole voting power over 5,590,151 shares and sole dispositive power over 5,698,439 shares, with 79,482 shares of shared dispositive power.

The stake is held solely for investment purposes on behalf of discretionary client accounts. AllianceBernstein identifies as an investment adviser (Type IA) and notes it is majority owned by Equitable Holdings but operates under independent management and reports ownership separately.

Michael Osanloo, who is listed as President & CEO and a director of Portillo's Inc. (PTLO), reported purchases of Class A common stock on a Form 4 filing. The filing shows a purchase of 11,320 shares on 08/08/2025 at a weighted average price of $7.42 (range $7.38�$7.45) and a purchase of 2,000 shares on 08/11/2025 at a weighted average price of $8.00 (range $7.91�$8.01), bringing his reported direct beneficial ownership to 65,317 shares. No derivative securities are reported and the form was signed by an attorney-in-fact.

Portillo's Inc. (PTLO) director Eugene I. Lee Jr. reported purchases of Class A common stock on 08/07/2025 totaling 130,250 shares at a stated weighted-average price of $7.68. The filing lists those shares as indirectly owned by a family trust, bringing the reported indirect beneficial ownership to 130,250 shares. The Form 4 also shows a separate disposition of 9,706 shares. The filer notes the purchases occurred at prices ranging from $7.54 to $7.78 and offers to provide the breakdown of shares purchased at each price upon request.

The Form is signed by an attorney-in-fact for the reporting person. Other customary Form 4 disclosures are present but no additional commentary or plans are stated in the filing.