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Investor Presentaiton

RECONCILIATION OF GAAP TO TOTAL SEGMENTS ($ in thousands) Management and Advisory Fees, Net QTD 3Q'21 4Q'21 1Q'22 2Q'22 3Q'22 YTD 3Q'21 3Q'22 3Q'21 LTM 3Q'22 $ 3,711,159 $ 4,654,877 (137) (13,022) (6,184) $ 3,711,022 $ 4,641,855 $ 4,845,297 $ 6,114,425 1,750 (16,350) $ 4,847,047 $ 6,098,075 GAAP Segment Adjustment (a) Total Segment $ 1,320,795 $1,459,548 $1,475,936 $1,561,187 $ 1,617,754 (4,270) (720) (3,328) (2,568) $ 1,320,075 $1,456,220 $1,473,368 $ 1,556,917 $ 1,611,570 GAAP Realized Performance Revenues to Total Segment Fee Related Performance Revenues GAAP Incentive Fees Investment Income - Realized Performance Allocations 48,206 1,522,495 136,454 2,787,970 104,489 99,598 1,766,386 2,453,769 110,776 725,888 117,537 2,865,482 314,863 4,946,043 215,239 4,330,636 451,317 7,734,013 GAAP Total Segment Less: Realized Performance Revenues Segment Adjustment (b) Total Segment GAAP Compensation to Total Segment Fee Related Compensation GAAP Compensation Incentive Fees Compensation Realized Performance Allocations Compensation GAAP Total Segment $ 1,570,701 $2,924,424 $ 1,870,875 $2,553,367 $ 836,664 $ 2,983,019 $ 5,260,906 $ 4,545,875 $ 8,185,330 (1,497,477) $ (1,191,374) (1,312,810) (2,206,774) (469,009) 89 824 4,476 73,313 $1,733,874 $ 558,065 $ 346,593 $372,131 (2,691,738) 89 (3,988,593) 4,476 (3,968,367) 89 (5,179,967) 5,300 $ 291,370 $1,276,789 $ 577,597 $ 3,010,663 536,199 21,007 631,632 576,032 49,349 1,119,911 656,505 41,019 717,601 686,012 45,363 1,035,916 600,273 50,355 313,930 1,585,941 48,763 1,192,082 $ 1,188,838 $1,745,292 $ 1,415,125 $1,767,291 $ 964,558 1,942,790 136,737 2,067,447 $ 2,826,786 $ 4,146,974 2,045,577 70,849 1,782,171 2,518,822 186,086 3,187,358 $ 3,898,597 $ 5,892,266 Less: Realized Performance Compensation (619,074) (449,301) (519,120) (926,974) (206,224) Less: Equity-Based Compensation Fee Related Compensation (127,442) (162,656) (200,387) (191,769) (187,873) (1,108,269) (1,652,318) (388,607) (1,591,797) (580,029) Less: Equity-Based Compensation - Performance Compensation Segment Adjustment (c) (1,812) (21,029) (1,933) (23,368) (1,158) (3,875) (2,324) (6,341) (7,357) (23,989) (23,260) (9,869) $ 419,481 $ 1,108,034 $ 670,471 $ 621,413 $ 558,268 (83,593) (57,118) $1,239,976 $ 1,850,152 (122,015) (454,004) (8,036) $ 1,722,745 $2,958,186 (2,101,619) (742,685) (9,290) (80,486) Total Segment GAAP General, Administrative and Other to Total Segment Other Operating Expenses GAAP Segment Adjustment (d) Total Segment Realized Performance Revenues GAAP Incentive Fees $ $ 217,995 $ 309,673 $ 240,674 $ 289,288 $270,369 $ 608,174 $ 800,331 (23,053) (54,540) (26,576) (27,778) (24,235) (69,630) (78,589) 194,942 $ 255,133 $ 214,098 $ 261,510 $ 246,134 $ 538,544 $ 721,742 $ 822,298 $1,110,004 (94,218) (133,129) $ 728,080 $ 976,875 Investment Income Realized Performance Allocations 48,206 1,522,495 136,454 2,787,970 104,489 1,766,386 99,598 2,453,769 110,776 725,888 117,537 2,865,482 GAAP $ 1,570,701 $2,924,424 $ 1,870,875 $2,553,367 $ 836,664 314,863 4,946,043 $ 2,983,019 $ 5,260,906 215,239 4,330,636 451,317 7,734,013 $ 4,545,875 $ 8,185,330 Total Segment Less: Fee Related Performance Revenues Segment Adjustment (b) Total Segment (73,313) 89 (1,733,874) 824 (558,065) (346,593) (372,131) 4,476 (291,370) 89 (1,276,789) 4,476 (577,597) 89 (3,010,663) 5,300 $ 1,497,477 $1,191,374 $ 1,312,810 $ 2,206,774 $ 469,009 $ 2,691,738 $ 3,988,593 $ 3,968,367 $ 5,179,967 Blackstone | 30
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