Blackstone Reports Fourth Quarter and Full Year 2021 Results

1 _____ Blackstone 345 Park Avenue New York NY 10154 T 212 583 5000 Blackstone Reports Fourth Quarter and Full Year 2021 Results New York, January 27, 2022: Blackstone (NYSE:BX) today reported its Fourth Quarter and full year 2021 Results . Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, Blackstone s Fourth Quarter Results represented a remarkable finish to a record-breaking year. Our limited partners entrusted us with $270 billion of inflows in 2021, with assets under management rising 42% to $881 billion our fastest growth rate in over a decade.

2 Outstanding investment performance and the power of our brand are leading to share gains in multiple customer channels, driving exceptional earnings momentum for our shareholders. Blackstone issued a full detailed presentation of its Fourth Quarter and full year 2021 Results , which can be viewed at Dividend Blackstone has declared a quarterly dividend of $ per share to record holders of common stock at the close of business on February 7, 2022. This dividend will be paid on February 14, 2022. Quarterly Investor Call Details Blackstone will host its Fourth Quarter and full year 2021 investor conference via public webcast on January 27, 2022 at 9:00 ET.

3 To register, please use the following link: For those unable to listen to the 2 live broadcast, there will be a webcast replay on the Shareholders section of Blackstone s website at About Blackstone Blackstone is the world s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $881 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

4 Further information is available at Follow Blackstone on Twitter Forward-Looking Statements This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current views with respect to, among other things, our operations, taxes, earnings and financial performance, share repurchases and dividends. You can identify these forward-looking statements by the use of words such as outlook, indicator, believes, expects, potential, continues, may, will, should, seeks, approximately, predicts, intends, plans, scheduled, estimates, anticipates, opportunity, leads or the negative version of these words or other comparable words.

5 Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or Results to differ materially from those indicated in these statements. We believe these factors include but are not limited to the impact of the novel coronavirus ( COVID-19 ), as well as those described under the section entitled Risk Factors in our Annual report on Form 10-K for the year ended December 31, 2020, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission ( SEC )

6 , which are accessible on the SEC s website at These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this report and in our other periodic filings. The forward-looking statements speak only as of the date of this report , and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. 3 This presentation does not constitute an offer of any Blackstone Fund.

7 Investor and Media Relations Contacts Weston Tucker Blackstone Tel: +1 (212) 583-5231 Christine Anderson Blackstone Tel: +1 (212) 583-5182 Blackstone s Fourth Quarter and Full Year 2021 EarningsJANUARY 27, 2022 Blackstone |1 Blackstone S Fourth Quarter AND FULL YEAR 2021 GAAP Results GAAP Net Income was $ billion for the Quarter and $ billion for the year. GAAP Net Income Attributable to Blackstone Inc. was $ billion for the Quarter and $ billion for the this presentation, all current period amounts are preliminary and unaudited.

8 Totals may not add due to rounding. See pages 34-36, Definitions and Dividend Policy, for definitions of terms used throughout this presentation. See additional notes on page 32.($ in thousands, except per share data) (unaudited)4Q'204Q'21FY'20FY'21 RevenuesManagement and Advisory Fees, Net1,134,138$ 1,459,548$ 4,092,549$ 5,170,707$ Incentive Fees97,702 136,454 138,661 253,991 Investment IncomePerformance AllocationsRealized1,465,154 2,787,970 2,106,000 5,653,452 Unrealized597,285 789,213 (384,393)

9 8,675,246 Principal InvestmentsRealized220,814 171,310 391,628 1,003,822 Unrealized217,688 304,297 (114,607) 1,456,201 Total Investment Income2,500,941 4,052,790 1,998,628 16,788,721 Interest and Dividend Revenue39,726 63,166 125,231 160,643 Other(143,583) 50,699 (253,142)

10 203,086 Total Revenues3,628,924$ 5,762,657$ 6,101,927$ 22,577,148$ ExpensesCompensation and BenefitsCompensation459,636 576,032 1,855,619 2,161,973 Incentive Fee Compensation22,086 49,349 44,425 98,112 Performance Allocations CompensationRealized590,089 1,119,911 843,230 2,311,993 Unrealized278,575 384,007 (154,516)