BREIT 2018 Proxy Statement

All shares listed in the table above are Class I shares. * Represents less than 1%. (1) Each of our non-employee directors received a grant of 1,625 restricted Class I shares on January 1, 2017, which vested on August 15, 2017, and a grant of 2,425 restricted Class I shares on August 1, 2017 as part of their annual compensation, which will vest on August 15, 2018. See “Non-Employee Director Compensation.” Blackstone and its employees, including our executive officers, invested approximately $19.6 million in the Offering as of March 15, 2018. 19