Blackstone today announced its estimate of revenue related to realization activity for the period from January 1, 2026 to March 24, 2026. This estimate does not include revenue from any realization activity that may occur subsequent to March 24, 2026. Based on information currently available, Blackstone preliminarily expects to record total Realized Performance Revenues and total Realized Principal Investment Income for such period in excess of $680 million, comprised almost entirely of Realized Performance Revenues. In addition to revenue related to investment realizations closed to date in the first quarter, this estimate includes certain non-fee related incentive fees and other investment income expected to be realized at quarter end.

The preliminary estimate regarding realization activity for the period from January 1, 2026 to March 24, 2026 disclosed above is not intended to predict or represent total Realized Performance Revenues, total Realized Principal Investment Income or total Segment Revenues for the quarter ending March 31, 2026, and results for the full quarter may differ materially. This estimate does not include the results or impact of any other sources of income, including fee income, or expenses, and Blackstone may realize further gains or losses relating to total Realized Performance Revenues and total Realized Principal Investment Income for the full quarter. It is also not indicative of the results that may be expected for any other period, including the year ending December 31, 2026.