<span item_type="fundamental" item_id="59f6514873ed1854432a615e7643e60f" counter_id="ETF/US/BXSL" env="prod"></span><span item_type="announcement" item_id="581197389350372609" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 358.56 M, beating the estimate of USD 353.42 M.</p><p>EPS: As of FY2025 Q3, the actual value is USD 0.57, missing the estimate of USD 0.7819.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -69.07 M.</p><p></p><h3>Financial Metrics by Segment</h3><h4>Segment Revenue</h4><ul><li><strong>Total Investment Income</strong>: $358,557 thousand for the three months ended September 30, 2025, compared to $343,218 thousand for the same period in 2024. For the nine months ended September 30, 2025, total investment income was $1,061,125 thousand compared to $974,242 thousand for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li></ul><h4>Operational Metrics</h4><ul><li><strong>Net Investment Income</strong>: $189,474 thousand for the three months ended September 30, 2025, compared to $185,903 thousand for the same period in 2024. For the nine months ended September 30, 2025, net investment income was $554,172 thousand compared to $524,849 thousand for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li><li><strong>Net Increase in Net Assets Resulting from Operations</strong>: $132,437 thousand for the three months ended September 30, 2025, compared to $151,664 thousand for the same period in 2024. For the nine months ended September 30, 2025, the net increase was $437,288 thousand compared to $531,605 thousand for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li></ul><h4>Cash Flow</h4><ul><li><strong>Net Cash Provided by (Used in) Operating Activities</strong>: -$228,993 thousand for the nine months ended September 30, 2025, compared to -$1,622,425 thousand for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li><li><strong>Net Cash Provided by (Used in) Financing Activities</strong>: $260,333 thousand for the nine months ended September 30, 2025, compared to $1,665,025 thousand for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li></ul><h4>Unique Metrics</h4><ul><li><strong>Total Investments at Fair Value</strong>: $13,809,636 thousand as of September 30, 2025, compared to $13,092,518 thousand as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li><li><strong>Net Asset Value (NAV) per Share</strong>: $27.15 as of September 30, 2025, compared to $27.39 as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><h4>Core Business Focus</h4><ul><li><strong>Investment Strategy</strong>: The company continues to focus on investing in non-controlled/non-affiliated and non-controlled/affiliated investments, with a total investment at fair value of $13,809,636 thousand as of September 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li><li><strong>Capital Management</strong>: The company issued common shares, net of offering and underwriting costs, amounting to $270,039 thousand for the nine months ended September 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li></ul><h4>Non-Core Business</h4><ul><li><strong>Divestitures and Emerging Segments</strong>: The company has not specified any divestitures or emerging segments in the provided data.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li></ul><h4>Priority</h4><ul><li><strong>Operational Efficiency</strong>: The company has managed to maintain a stable net investment income and net increase in net assets resulting from operations, indicating a focus on operational efficiency and effective investment management.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1736035/000173603525000021/bxsl-20250930.htm"></span></li></ul>

Blackstone Secured Lending Fund | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 358.56 M