X0306 4 2018-07-01 0 0001393818 Blackstone Group L.P. BX 0001249319 HILL J TOMILSON C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK NY 10154 1 1 0 0 Vice Chairman Blackstone Holdings partnership units 2018-07-01 4 A 0 232253 0.00 A Common units representing limited partner interests 232253 6482385 D Blackstone Holdings partnership units Common units representing limited partner interests 2683308 2683308 I See Footnote Blackstone Holdings partnership units Common units representing limited partner interests 5636348 5636348 I See Footnote A "Blackstone Holdings partnership" unit collectively refers to one limited partner interest in each of Blackstone Holdings I L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P., Blackstone Holdings IV L.P. and Blackstone Holdings AI L.P. Subject to the minimum retained ownership requirements and transfer restrictions set forth in the partnership agreements of the Blackstone partnerships, the holder has the right, exercisable from time to time, to exchange each Blackstone Holdings partnership unit for one common unit of The Blackstone Group L.P. The Blackstone Holdings partnership units have no expiration date and may not be exchanged at any time prior to December 31, 2018 other than pursuant to transactions or programs approved by Blackstone. Granted under the 2007 Equity Incentive Plan, 20% of these deferred restricted Blackstone Holdings partnership units, or 46,450 units, will vest on July 1, 2021; an additional 30%, or 69,676 units, will vest on July 1, 2022; and the remaining 50%, or 116,127 units, will vest on July 1, 2023. As these deferred restricted Blackstone Holdings partnership units vest, the underlying Blackstone Holdings partnership units will be delivered to the Reporting Person, except that no more than 3/4 of the vested units will be delivered during the Reporting Person's service with Blackstone (with the remaining units to be delivered after the expiration of the Reporting Person's restrictive covenant period). Notwithstanding the foregoing, the units may be delivered earlier upon a change in control of Blackstone. Such Blackstone Holdings partnership units are held by a limited liability company controlled by the Reporting Person. Such Blackstone Holdings partnership units are held in a trust, for the benefit of the Reporting Person's children, of which the spouse of the Reporting Person is the investment trustee. The Reporting Person disclaims beneficial ownership of the securities reported on this form except to the extent of his pecuniary interest. Exhibit List: Exhibit 24 - Power of Attorney Tabea Y. Hsi as Attorney-In-Fact 2018-07-03