SCHEDULE 13G 0001404071 XXXXXXXX LIVE Class A Common Stock, par value $0.01 per share 12/31/2024 0001061630 Blackstone Mortgage Trust, Inc. 09257W100 345 Park Avenue 24th Floor New York NY 10154 Rule 13d-1(d) Blackstone Inc. b DE 8601492 0 8601492 0 8601492 N 5 CO Blackstone Group Management LLC b DE 8601492 0 8601492 0 8601492 N 5 OO Stephen A. Schwarzman b X1 8982172 0 8982172 0 8982172 N 5.2 IN Blackstone Mortgage Trust, Inc. 345 Park Avenue, 24th Floor, New York, NY 10154 Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: (i) Blackstone Inc. (ii) Blackstone Group Management L.L.C. (iii) Stephen A. Schwarzman This Schedule 13G relates to the shares of Class A Common Stock, par value $0.01 per share (the "Common Stock") of Blackstone Mortgage Trust, Inc. (the "Issuer") beneficially owned by the Reporting Persons. As of December 31, 2024, BXMT Advisors L.L.C. (the "Manager"), an indirect subsidiary of Blackstone Inc. and the external manager of Issuer, directly holds 8,234,581 shares of Common Stock (including 1,320,898 restricted shares subject to vesting pursuant to the terms of the Issuer's applicable management incentive plans), Mr. Schwarzman directly holds 380,680 shares of Common Stock (including 103,946 restricted shares subject to vesting pursuant to the terms of the Issuer's applicable stock incentive plans), and Blackstone Inc. may be deemed to indirectly beneficially own an additional 366,911 shares of Common Stock held in a separately managed account over which it may be deemed to have indirect voting and dispositive power. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly owned by Blackstone Inc.'s senior managing directors and controlled by its founder, Stephen A. Schwarzman. The Manager is an indirect subsidiary of Blackstone Inc. Each of Blackstone Inc., Blackstone Group Management L.L.C. and Mr. Schwarzman may be deemed to beneficially own the shares of Common Stock beneficially owned by the Manager and Blackstone Inc., but neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any Reporting Person (other than Mr. Schwarzman to the extent he directly holds shares of Common Stock reported on this Schedule 13G) is the beneficial owner of the shares of Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Act"), or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such shares. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a "group" for the purposes of Sections 13(d) and 13(g) of the Act. The principal business address of each of the Reporting Persons is c/o Blackstone Inc., 345 Park Avenue, New York, NY 10154. See Item 4 of each cover page. Y As of December 31, 2024, the Manager, an indirect subsidiary of Blackstone Inc., directly holds 8,234,581 shares of Common Stock (including 1,320,898 restricted shares subject to vesting pursuant to the terms of the Issuer's applicable management incentive plans), Mr. Schwarzman directly holds 380,680 shares of Common Stock (including 103,946 restricted shares subject to vesting pursuant to the terms of the Issuer's applicable stock incentive plans), and Blackstone Inc. may be deemed to indirectly beneficially own an additional 366,911 shares of Common Stock held in a separately managed account over which it may be deemed to have indirect voting and dispositive power. Each of the Reporting Persons may be deemed to be the beneficial owner of the shares of Common Stock listed on such Reporting Person's cover page. As of December 31, 2024, each of the Reporting Persons may be deemed to be the beneficial owner of the percentage of shares of Common Stock listed on such Reporting Person's cover page. Calculation of the percentage of Common Stock of the Issuer beneficially owned is based on 172,988,799 shares of Common Stock outstanding as of October 16, 2024, as disclosed in the Quarterly Report on Form 10-Q filed by the Issuer with the Securities and Exchange Commission on October 23, 2024. (i) See each cover page hereof. (ii) See each cover page hereof. (iii) See each cover page hereof. (iv) See each cover page hereof. Y Y Y Y Y Y Exhibit 99.1 Joint Filing Agreement, dated February 10, 2025, among the Reporting Persons (filed herewith). Blackstone Inc. /s/ Tabea Hsi 02/10/2025 Blackstone Group Management LLC /s/ Tabea Hsi 02/10/2025 Stephen A. Schwarzman /s/ Stephen A. Schwarzman 02/10/2025