Company: BXSL
Filing Date: 2025-07-11
Form Type: 424B2
Source: 0001213900-25-063323
Chunk: 63

Company: Blackstone Secured Lending Fund
Filing Date: 2025-07-11
Form: 424B2
Chunk 63
---
 on federal income tax returns for all open tax years, and has concluded that there are no material uncertain tax positions through December 31, 2024. As applicable, the Company’s federal tax returns are subject to examination by the Internal Revenue Service for a period of three fiscal years after they are filed. To qualify for and maintain qualification as a RIC, the Company must, among other things, meet certain source -of-incomeand asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its shareholders, for each taxable year, at least 90% of the sum of (i) its “investment company taxable income” for that year (without regard to the deduction for dividends paid), which is generally its net ordinary income plus the excess, if any, of its realized net short -termcapital gains over its realized net long -termcapital losses, and (ii) its net tax -exemptincome. In addition, based on the excise tax distribution requirements, the Company is subject to a 4% nondeductible federal excise tax on certain undistributed income unless the Company distributes in a timely manner in each taxable year an amount at least equal to the sum of •98% of its ordinary income for the calendar year; •98.2% of its capital gain net income (both long -termand short -term) for the one -yearperiod ending October 31 in that calendar year; and •any income realized, but not distributed, in prior years. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed. We have previously incurred, and may incur in the future, excise tax on a portion of our income and gains. While we intend to distribute income and capital gains to minimize exposure to the 4% excise tax, we may not be able to, or may not choose to, distribute amounts sufficient to avoid the imposition of the tax entirely. In that event, we will be liable for the tax only on the amount by which we do not meet the foregoing distribution requirement. 31

Distributions We generally intend to distribute, out of assets legally available for distribution, substantially all of our available earnings, on a quarterly basis, as determined by the Board in its discretion. The following table summarizes our distributions declared and payable for the fiscal years ended December 31, 2023 and 2024 and for the fiscal quarter ended March 31,