X0306 4 2021-04-26 0 0001588807 Blackstone Real Estate Income Fund N/A 0001596445 Blackstone Real Estate Income Advisors L.L.C. C/O THE BLACKSTONE GROUP INC. 345 PARK AVE NEW YORK NY 10154 0 0 0 1 Invst Adviser & its affiliates 0001596444 Blackstone Real Estate Special Situations Advisors L.L.C. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 0 1 Invst Adviser & its affiliates 0001464694 Blackstone Holdings I L.P. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 0 1 Invst Adviser & its affiliates 0001464695 Blackstone Holdings I/II GP L.L.C. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 0 1 Invst Adviser & its affiliates 0001393818 Blackstone Group Inc 345 PARK AVENUE NEW YORK NY 10154 0 0 0 1 Invst Adviser & its affiliates 0001404071 Blackstone Group Management L.L.C. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001070844 SCHWARZMAN STEPHEN A C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 Common Shares of Beneficial Interest 2021-04-26 4 J 0 7728.078 873.441 D 6579.309 D As previously disclosed, on October 15, 2020, shareholders of the Issuer approved the liquidation of the Issuer. Reflects a compulsory redemption by the Issuer in connection with a liquidating distribution pursuant to the Issuer's plan of liquidation. A portion of the common shares was acquired through the Issuer's dividend reinvestment plan. Blackstone Real Estate Special Situations Advisors L.L.C. is the sole member of Blackstone Real Estate Income Advisors L.L.C. Blackstone Holdings I L.P. is the managing member of Blackstone Real Estate Special Situations Advisors L.L.C. Blackstone Holdings I/II GP L.L.C. (f/k/a Blackstone Holdings I/II GP Inc.) is the general partner of Blackstone Holdings I L.P. The Blackstone Group Inc.(f/k/a The Blackstone Group L.P.) is the sole member of Blackstone Holdings I/II GP L.L.C. Blackstone Group Management L.L.C. is the sole holder of the Series II preferred stock of The Blackstone Group Inc. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman. Information with respect to each of the Reporting Persons is given solely by such Reporting Persons, and no Reporting Person has responsibility for the accuracy of completeness of information supplied by another Reporting Person. Each of the Reporting Persons (other than Blackstone Real Estate Income Advisors L.L.C. to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by Blackstone Real Estate Income Advisors L.L.C., except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than Blackstone Real Estate Income Advisors L.L.C. to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose. BLACKSTONE REAL ESTATE INCOME ADVISORS L.L.C., By: /s/ Leon Volchyok, Name: Leon Volchyok, Title: Authorized Signatory 2021-04-28 BLACKSTONE REAL ESTATE SPECIAL SITUATIONS ADVISORS L.L.C., By: /s/ Leon Volchyok, Name: Leon Volchyok, Title: Authorized Signatory 2021-04-28 BLACKSTONE HOLDINGS I L.P., By: Blackstone Holdings I/II GP L.L.C., its general partner, By: /s/ Tabea Y. Hsi, Name: Tabea Y. Hsi, Title: Senior Managing Director 2021-04-28 BLACKSTONE HOLDINGS I/II GP L.L.C., By: /s/ Tabea Y. Hsi, Name: Tabea Y. Hsi, Title: Senior Managing Director 2021-04-28 THE BLACKSTONE GROUP INC., By: /s/ Tabea Y. Hsi, Name: Tabea Y. Hsi, Title: Senior Managing Director 2021-04-28 BLACKSTONE GROUP MANAGEMENT L.L.C., By: /s/ Tabea Y. Hsi, Name: Tabea Y. Hsi, Title: Senior Managing Director 2021-04-28 STEPHEN A. SCHWARZMAN, By: /s/ Stephen A. Schwarzman, Name: Stephen A. Schwarzman 2021-04-28