Blackstone Secured Lending Fund

For the period ended Jun 30, 2026. Filed Aug 6, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 6, 2026

BXSL$24.17+1.0%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations for the

Condensed Consolidated Statements of Operations

	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Investment income:
From non-controlled/non-affiliated investments:
Interest income	$298,517	$320,800	$600,734	$656,448
Payment-in-kind interest income	20,501	21,878	41,506	42,696
Dividend income	—	49	20	49
Other income	561	1,498	2,260	2,223
From non-controlled/affiliated investments:
Interest income	299	283	299	321
Payment-in-kind interest income	591	295	1,121	830
Total investment income	320,469	344,803	645,940	702,567
Expenses:
Interest expense	101,070	92,285	201,239	185,263
Management fees (Note 3)	35,282	34,600	71,648	68,901
Income based incentive fees (Note 3)	1,690	34,718	3,983	69,019
Capital gains based incentive fees (Note 3)	—	—	—	—
Professional fees	1,043	1,243	2,260	2,129
Board of Trustees’ fees	311	293	601	599
Administrative service expenses (Note 3)	1,057	744	2,182	1,710
Other general and administrative expenses	1,815	1,220	2,820	2,283
Total expenses before tax expense	142,268	165,103	284,733	329,904
Net investment income before tax expense	178,201	179,700	361,207	372,663
Excise and other tax expense	4,416	3,798	8,506	7,966
Net investment income after tax expense	173,785	175,902	352,701	364,697
Realized and unrealized gain (loss):
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated investments	(128,166)	(8,117)	(283,300)	(48,223)
Non-controlled/affiliated investments	(5,217)	(201)	(7,694)	(850)
Derivative instruments (Note 6)	(1,777)	(3,126)	1,166	(5,047)
Translation of assets and liabilities in foreign currencies	(148)	438	(883)	720
Income tax (provision) benefit	(1,194)	(294)	(686)	(1,774)
Net change in unrealized appreciation (depreciation), net of income tax (provision) benefit	(136,502)	(11,300)	(291,397)	(55,174)
The accompanying notes are an integral part of these condensed consolidated financial statements.

Condensed Consolidated Statements of Operations

	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Net realized gain (loss):
Non-controlled/non-affiliated investments	$(47,006)	$(1,230)	$(45,845)	$7,295
Non-controlled/affiliated investments	5,559	—	5,559	—
Derivative instruments (Note 6)	3,554	(7,673)	5,396	(9,727)
Foreign currency transactions	10,244	(541)	8,466	(1,528)
Current tax expense on realized gains	(148)	(116)	(148)	(712)
Net realized gain (loss), net of tax expense	(27,797)	(9,560)	(26,572)	(4,672)
Net realized and change in unrealized gain (loss)	(164,299)	(20,860)	(317,969)	(59,846)
Net increase (decrease) in net assets resulting from operations	$9,486	$155,042	$34,732	$304,851
Net investment income per share (basic and diluted)	$0.75	$0.77	$1.52	$1.60
Earnings (loss) per share (basic and diluted)	$0.04	$0.68	$0.15	$1.34
Weighted average shares outstanding (basic and diluted)	232,557,932	228,192,335	232,381,869	227,389,213
The accompanying notes are an integral part of these condensed consolidated financial statements.

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