Company: BXSL
Filing Date: 2025-07-11
Form Type: 424B2
Source: 0001213900-25-063323
Chunk: 12

Company: Blackstone Secured Lending Fund
Filing Date: 2025-07-11
Form: 424B2
Chunk 12
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 common shares, you should carefully consider the risks and uncertainties described in the section titled “Risk Factors” in our most recent annual report on Form 10 -K , as well as in subsequent filings with the SEC, which are incorporated by reference into this prospectus supplement and the accompanying prospectus in their entirety, together with other information in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference herein and therein. The risks described in these documents are not the only ones we face. Additional risks and uncertainties not presently known to us or not presently deemed material by us might also impair our operations and performance. Past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results or trends in future periods. If any of these risks occur, our business, financial condition and results of operations could be materially and adversely affected. In such case, our net asset value, the trading price of our common shares and the value of our other securities could decline, and you may lose all or part of your investment. Please also read carefully the section titled “Cautionary Statement Regarding Forward -Looking Statements” in this prospectus supplement. S-9

FEES AND EXPENSES The following table is intended to assist you in understanding the fees and expenses 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                   |     |  2.18 | %(4) |
|