Blackstone Secured Lending Fund

For the period ended Sep 30, 2026. Filed Nov 4, 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.

Sep 30, 2026 · Filed Nov 4, 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 September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Investment income:
From non-controlled/non-affiliated investments:
Interest income	$294,145	$327,649	$894,878	$984,097
Payment-in-kind interest income	17,352	28,934	58,858	71,630
Dividend income	7	801	27	850
Other income	307	285	2,567	2,509
From non-controlled/affiliated investments:
Interest income	2,528	303	2,827	624
Payment-in-kind interest income	842	585	1,963	1,415
Total investment income	315,181	358,557	961,120	1,061,125
Expenses:
Interest expense	98,942	94,691	300,181	279,954
Management fees (Note 3)	33,788	34,959	105,436	103,860
Income based incentive fees (Note 3)	16,835	31,254	20,818	100,273
Capital gains based incentive fees (Note 3)	—	—	—	—
Professional fees	1,114	1,402	3,374	3,530
Board of Trustees’ fees	310	282	911	881
Administrative service expenses (Note 3)	1,167	766	3,349	2,476
Other general and administrative expenses	1,564	1,497	4,385	3,780
Total expenses before tax expense	153,720	164,851	438,454	494,754
Net investment income before tax expense	161,461	193,706	522,666	566,371
Excise and other tax expense	3,325	4,232	11,830	12,199
Net investment income after tax expense	158,136	189,474	510,836	554,172
Realized and unrealized gain (loss):
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated investments	207,809	(39,814)	(75,491)	(88,037)
Non-controlled/affiliated investments	(16,229)	(319)	(23,923)	(1,169)
Derivative instruments (Note 6)	740	3,506	1,906	(1,541)
Translation of assets and liabilities in foreign currencies	(63)	405	(946)	1,125
Income tax (provision) benefit	(2,196)	(101)	(2,882)	(1,875)
Net change in unrealized appreciation (depreciation), net of income tax (provision) benefit	190,061	(36,323)	(101,336)	(91,497)
The accompanying notes are an integral part of these condensed consolidated financial statements.

Condensed Consolidated Statements of Operations

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Net realized gain (loss):
Non-controlled/non-affiliated investments	$(234,905)	$(9,270)	$(280,751)	$(1,977)
Non-controlled/affiliated investments	—	—	5,559	—
Derivative instruments (Note 6)	281	(53)	5,678	(9,780)
Foreign currency transactions	3,893	(11,558)	12,359	(13,085)
Current tax expense on realized gains	(623)	167	(770)	(545)
Net realized gain (loss), net of tax expense	(231,354)	(20,714)	(257,925)	(25,387)
Net realized and change in unrealized gain (loss)	(41,293)	(57,037)	(359,261)	(116,884)
Net increase (decrease) in net assets resulting from operations	$116,843	$132,437	$151,575	$437,288
Net investment income per share (basic and diluted)	$0.68	$0.82	$2.20	$2.43
Earnings (loss) per share (basic and diluted)	$0.50	$0.57	$0.65	$1.91
Weighted average shares outstanding (basic and diluted)	232,890,548	230,462,792	232,553,292	228,424,998
The accompanying notes are an integral part of these condensed consolidated financial statements.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.