Company: BXSL
Filing Date: 2025-01-21
Form Type: 424B2
Source: 0001193125-25-008530
Chunk: 11

Company: Blackstone Secured Lending Fund
Filing Date: 2025-01-21
Form: 424B2
Chunk 11
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 that an investor in our common shares will bear, directly or indirectly, based on the assumptions set forth below. We caution you that some of the percentages indicated in the table below are estimates and may vary. Except where the context suggests otherwise, whenever this prospectus supplement contains a reference to our fees or expenses, we will pay such fees and expenses out of our net assets and, consequently, shareholders will indirectly bear such fees or expenses as investors in us.

| Shareholder transaction expenses (as a percentage of offering price):      |     |      |    |
| Sales load (as a percentage of offering price)                             |     | 1.00 | -1 |
| Offering expenses (as a percentage of offering price)                      |     | 0.12 | -2 |
| Dividend reinvestment plan expenses                                        |     | None | -3 |
| Total shareholder transaction expenses (as a percentage of offering price) |     | 1.12 |  % |

| Annual expenses (as a percentage of net assets attributable to common shares)(9): |     |       |       |
| Management Fee payable under the Investment Advisory Agreements                   |     |  2.09 |    -4 |
| Incentive Fee payable under the Investment Advisory Agreements                    |     |  2.77 |    -5 |
| Interest payments on borrowed funds                                               |     |  5.80 |    -6 |
| Other expenses                                                                    |     |  0.49 | -7)(8 |
| Total annual expenses:                                                            |     | 11.15 |    -8 |

| (1) | The sales load (underwriting discount and commission) with respect to the common shares sold in this offering is the only sales load paid in connection with this offering. Represents the maximum agent commission with respect to the common shares sold by us in this offering. |

| (2) | The percentage reflects estimated offering expenses of approximately $0.7 million for the estimated duration of this offering and assumes we sell all $600.0 million of common shares available under the equity distribution agreements pursuant to this prospectus supplement and the accompanying prospectus. There is no guarantee that there will be any sales of our common shares pursuant to this prospectus supplement and the accompanying prospectus. |

| (3) | The expenses of the dividend reinvestment plan are included in “other expenses” in the table above. See “Dividend Reinvestment Plan” in the accompanying prospectus for additional information regarding our dividend rein