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Investor Presentaiton

CREDIT & INSURANCE ā—‰ Total AUM: Increased 43% to $269.1 billion with inflows of $19.1 billion in the quarter and $133.3 billion over the LTM. - - Inflows in the quarter included $3.2 billion for U.S. Direct Lending SMAs and $2.3 billion equity raised for BCRED. Held first close for the private credit green energy strategy with $3.6 billion raised in the quarter, and $4.0 billion total, including funds raised subsequent to quarter end. October 1 subscriptions of $651 million for BCRED not yet included in Total AUM. Closed 6 new CLOS (5 U.S. and 1 European) for $2.6 billion. On October 12, 2022, Blackstone announced a strategic partnership with Resolution Life, with Blackstone to be Resolution Life's investment manager for certain key areas, managing up to $25.0 billion in the first year, growing to an expected over $60.0 billion over the next six years. Realizations: $5.9 billion in the quarter and $20.8 billion over the LTM. Capital Deployed: $12.3 billion in the quarter and $54.7 billion over the LTM. Returns: Private Credit gross return of 3.0% (2.1% net); Liquid Credit gross return of 0.7% (0.5% net) for the quarter. % Change % Change ($ in thousands) Management Fees, Net $ 3Q'21 203,839 $ 3Q'22 vs. 3Q'21 321,969 58% $ 3Q'21 YTD 540,808 $ 3Q'22 YTD 934,733 vs. 3Q'21 YTD 73% Fee Related Performance Revenues 37,688 112,128 198% 66,577 260,410 291% Fee Related Compensation (107,865) (135,420) 26% (263,059) (399,799) 52% Other Operating Expenses (51,276) (68,696) 34% (142,615) (189,745) 33% Fee Related Earnings $ 82,386 $ 229,981 179% $ 201,711 $ 605,599 200% Realized Performance Revenues 6,148 12,459 103% 73,234 122,175 67% Realized Performance Compensation (1,145) (4,992) 336% (29,532) (54,487) 85% Realized Principal Investment Income 15,820 46,993 197% 67,285 76,793 14% Net Realizations 20,823 54,460 162% 110,987 144,481 30% Segment Distributable Earnings $ 103,209 $ 284,441 176% 312,698 $ 750,080 140% Segment Revenues $ 263,495 $ 493,549 87% $ 747,904 $ 1,394,111 86% Total AUM $ 188,356,418 $269,058,778 43% $ 188,356,418 $ 269,058,778 43% Fee-Earning AUM $ 135,897,350 $193,705,941 43% $ 135,897,350 $193,705,941 43% Blackstone | 13
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