Blackstone Private Investments Advisors L.L.C. (“BPIA”) is a Delaware limited liability company. BPIA provides investment advisory services to pooled investment vehicles (the “BXPE Partnerships”), including Blackstone Private Equity Strategies Fund (Master) FCP and Blackstone Private Equity Strategies Fund SICAV (together with their respective parallel funds and any alternative investment vehicles or feeder vehicles, “BXPE Lux”), Blackstone Private Equity Strategies Fund L.P. (together with its parallel funds (including, Blackstone Private Equity Strategies Fund (CYM) SPC), aggregator vehicles, and any alternative investment vehicles or feeder vehicles, “BXPE US”), any managed accounts or arrangements or alternative investment vehicles relating to the foregoing and other investment vehicles (including successor vehicles) having the same or similar investment objectives as the BXPE Partnerships (collectively, the “BXPE Funds” or “Funds”, and each, a “BXPE Fund” or “Fund”). BPIA is responsible for the management of the BXPE Funds’ investment program pursuant to an investment advisory agreement that BPIA has entered into with respect to each BXPE Fund, and has the authority to make commitments to investments and to make investment allocation and management decisions for the BXPE Funds on a discretionary basis. BPIA will seek to invest each BXPE Fund’s assets into a variety of appropriate investment opportunities. Subject to the investment limitations of each BXPE Fund, the Funds may invest in or alongside other Funds or Blackstone’s other investment funds, investment vehicles, permanent capital vehicles, accounts, related entities and/or other similar arrangements (including those in existence as of the date hereof and those that may be formed in the future, collectively, “Other Blackstone Clients”) and investment funds, vehicles or accounts managed by third parties (“Third-Party Vehicles”) and in other appropriate investment opportunities selected by BPIA in accordance with the BXPE Funds’ investment objectives.
Blackstone Inc. (together with its affiliates, “Blackstone”) is the ultimate parent of BPIA and is a publicly traded corporation that has common shares which trade on the New York Stock Exchange under the symbol “BX”. Blackstone is a leading global alternative investment manager with investment vehicles focused on private equity, real estate, hedge fund solutions, credit, secondary funds, tactical opportunities, infrastructure, insurance solutions and life sciences. Please see Item 10 – Other Financial Industry Activities and Affiliations and Item 11 – Code of Ethics for more information. Overview of BPIA Advisory Services BPIA serves as investment advisor to the BXPE Funds pursuant to the terms of the Advisory Agreements (as defined below) with respect to each of the Funds. As investment advisor to the BXPE Funds, BPIA: Identifies investment opportunities for the BXPE Funds Participates in the monitoring and evaluation of the BXPE Funds’ investments Makes decisions regarding, or makes recommendations to the general partners of the BXPE Funds (the “General Partners”) (or other managing entity or governing body of the BXPE Funds) regarding, the purchase and/or sale of investments by the BXPE Funds and related investment allocation matters, as further described herein Through delegation agreements (the “Delegation Agreements”), BPIA provides specific portfolio management services to certain private investment funds managed by an affiliated alternative investment fund manager (the “BX AIFM”) for the purposes of the European Union Alternative Investment Fund Managers Directive (“AIFMD”). The individual needs of the investors in the BXPE Funds are not the basis of investment decisions by BPIA. Investment advice is provided to the BXPE Funds by BPIA and not individually to the BXPE Funds’ respective investors. Investors in the BXPE Funds are

entitled to the rights and benefits described in the applicable confidential offering memoranda (or offering prospectuses) (as supplemented from time to time), the limited partnership agreements (or articles of incorporation, management regulations, declarations of trust or bylaws), the Delegation Agreements and/or the investment advisory or management agreements (together with the Delegation Agreements, the “Advisory Agreements”), subscription documents and other similar applicable constituent or governing agreements and disclosure documents of each BXPE Fund (collectively, the “Organizational Documents”). With respect to the BXPE Funds, the Investment Committee for the BXPE Funds (the “BXPE Investment Committee”), which includes senior and experienced investment professionals at Blackstone, determines the investment policy and guidelines of each BXPE Fund. All investments led by the BXPE Funds are reviewed and approved by the BXPE Investment Committee. Investments led by Other Blackstone Clients (including continuation funds) which are shared by the BXPE Funds are reviewed and approved by a subset of the BXPE Investment Committee members to ensure that the BXPE Fund investments led by Other Blackstone Clients are consistent with the BXPE Funds’ respective investment mandates and the portfolio allocations described in their applicable Organizational Documents. The BXPE Investment Committee process emphasizes a consensus-based approach to decision- making among committee members and is the same process that Blackstone has adopted since inception. In addition, the BXPE Funds are expected to benefit from the breadth of the Blackstone platform, including the various investment, asset management, portfolio operations, finance, investor relations, and legal and compliance professionals located around the globe. BPIA advises one or more BXPE Funds that are governed by a board of directors (which is comprised in part by independent directors) that is responsible for determining the investment policy and guidelines of the applicable BXPE Fund. In the event that BPIA, in the future, advises a Fund that has a limited partner advisory committee, references in this Brochure to the board of directors or the independent directors thereof will be deemed to include the limited partner advisory committee of such Fund unless the context indicates otherwise. In addition, BPIA may, in the future, provide investment advisory services to one or more pooled investment vehicles that will be registered investment companies under the U.S. Investment Company Act of 1940, as amended (the “Investment Company Act” or the “1940 Act”), or regulated as business development companies (“BDCs”) under the Investment Company Act, and that will pursue an investment strategy substantially similar to that pursued by the BXPE Funds. With respect to any Fund that is incorporated, owned by shareholders and governed by a board of directors, any references in this Brochure to the “limited partners” of a Fund will be deemed to include the shareholders of any such incorporated Fund, and any references in this Brochure to the “General Partner” of a Fund will be deemed to include the applicable board of directors of such incorporated Fund or BPIA (or, where relevant, the BX AIFM), as applicable and as the context may require, in each case unless the context indicates otherwise. With respect to any Fund that is established as a Luxembourg mutual fund (fonds commun de placement), any references in this Brochure to the “limited partners” of a Fund will be deemed to include the unitholders of any such Fund, and any references in this Brochure to the “General Partner” of a Fund will be deemed to include the management company of such Fund or BPIA (or, where relevant, the BX AIFM), as applicable and as the context may require, in each case unless the context indicates otherwise.