Blackstone Mortgage Trust Reports Second Quarter 2019 Results New - PowerPoint PPT Presentation

Blackstone Mortgage Trust Reports Second Quarter 2019 Results New York, July 23, 2019 : Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its second quarter 2019 results. Stephen D. Plavin, Chief Executive Officer, said, “ Our strong second quarter was highlighted by ramping global originations and highly efficient capital raising. We enter the third quarter very well positioned for future growth. ” Blackstone Mortgage Trust issued a full detailed presentation of its second quarter 2019 results, which can be viewed at www.bxmt.com. Quarterly Investor Call Details Blackstone Mortgage Trust will host a conference call on Wednesday, July 24, 2019 at 10:00 a.m. ET to discuss second quarter 2019 results. The conference call can be accessed by dialing +1 (888) 268-4178 (U.S. domestic) or +1 (617) 597-5494 (international), with the passcode 245-054- 61# or by webcast at www.bxmt.com (listen only). For those unable to listen to the live broadcast, a recorded replay will be available on the c ompany’s website or by telephone beginning approximately two hours after the event. The replay call number is +1 (888) 286-8010 (U.S. domestic) or +1 (617) 801-6888 (international), with the passcode 410-109-41#. About Blackstone Mortgage Trust Blackstone Mortgage Trust (NYSE:BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia. Our investment objective is to preserve and protect shareholder capital while producing attractive risk- adjusted returns primarily through dividends generated from current income from our loan portfolio. We are externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone. Further information is available at www.bxmt.com. About Blackstone Blackstone (NYSE:BX) is one of the wo rld’s leading investment firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. Blackstone does this by using extraordinary people and flexible capital to help companies solve problems. Blackstone’s asset manage ment businesses, with $545 billion in assets under management, _____________________________ Blackstone Mortgage Trust, Inc. 345 Park Avenue New York, New York 10154 T 212 655 0220

include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone. Forward-Looking Statements and Other Matters This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect Blackstone Mort gage Trust’s current views with respect to, among other things, Blackstone Mortgage Trust’s operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward -looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Blackstone Mortgage Trust believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its Annual Report on Form 10 -K for the fiscal year ended December 31, 2018, as such factors may be updated from time to time in its periodic filings with the Securities and Exchange Commission (“SEC”) which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the filings. Blackstone Mortgage Trust assumes no obligation to update or supplement forward ‐ looking statements that become untrue because of subsequent events or circumstances. Investor and Media Relations Contacts Weston Tucker Paula Chirhart Investor Relations Media Relations Blackstone Blackstone +1 (212) 583-5231 +1 (212) 583-5011 tucker@blackstone.com paula.chirhart@blackstone.com

Blackstone Mortgage Trust, Inc. Second Quarter Results July 23, 2019

BXMT Highlights  BXMT has increased in scale through strong origination volume while maintaining consistently low leverage  In 2 Q’ 19, BXMT generated EPS of $0.59 and Core EPS (a) of $0.68 ($ in billions, except per share data) LTM Performance (b) 6.9% 100% +$3.0B Dividend Yield (c) Performing Loans Portfolio Growth (d) 0% 110% 63% Change in LTV (d)(f) Dividend Coverage (e) Loan-to-Value (d)(f) Information included in this presentation is as of or for the period ended June 30, 2019, unless otherwise indicated. Blackstone Mortgage Trust 1 (a) See Appendix for a definition and reconciliation to GAAP net income. (b) Represents the twelve months ended June 30, 2019. (c) Based on annualized dividend and BXMT closing price as of July 22, 2019. (d) Includes $489 million and $406 million of Non-Consolidated Senior Interests as of June 30, 2018 and June 30, 2019, respectively, and investment exposure to the $1.0 billion 2018 Single Asset Securitization through a $97 million subordinate risk retention interest as of June 30, 2019. (e) Reflects ratio of Core Earnings to dividends declared. (f) Reflects weighted average LTV as of the date investments were originated or acquired by BXMT.

Second Quarter 2019 Results  EPS of $0.59 and Core Earnings (a) per share of $0.68, or $86 million Earnings & Dividends  Increased book value per share by $0.53 to $27.85; paid $0.62 per share dividend  $1.3 billion of originations and $192 million of fundings under existing commitments Originations  Continued international growth with $965 million of 1 H’ 19 non-US originations  $15.8 billion (b) portfolio secured by institutional quality real estate in major markets Portfolio Composition  100% performing portfolio with a weighted average origination LTV (b)(c) of 63%  Closed a $500 million senior secured term loan at L+2.50% with a 7-year term Capitalization  Issued 8.6 million shares at 1.32x P/B, generating $311 million of gross proceeds and adding $0.52 to book value per share  Floating rate assets and matched liabilities support book value and earnings stability Interest Rates  LIBOR floors mitigate the impact of potential rate declines (d) (a) See Appendix for a definition and reconciliation to GAAP net income. Blackstone Mortgage Trust 2 (b) Includes $406 million of Non-Consolidated Senior Interests and investment exposure to the $1.0 billion 2018 Single Asset Securitization through a $97 million subordinate risk retention interest. (c) Reflects weighted average LTV as of the date investments were originated or acquired by BXMT. (d) A subset of BXMT loans carries LIBOR floors, which are set at various levels.

   Earnings & Dividends   2Q GAAP EPS of $0.59 and Core Earnings (a) of $0.68 per share; $0.62 per share dividend equates to a 6.9% dividend yield (b)  Accretive equity issuances and retained earnings enhanced book value per share LTM Core Earnings Per Share (c) Book Value Per Share Growth Retained $0.35 Core Earnings (a) $ 0.62 Quarterly $27.85 Dividend $27.08 $26.38 Dividends Paid $2.48 114% 2Q'17 2Q'18 2Q'19 LTM Dividend Coverage (d) (a) See Appendix for a definition and reconciliation to GAAP net income. Blackstone Mortgage Trust 3 (b) Based on annualized dividend and BXMT closing price as of July 22, 2019. (c) Represents the twelve months ended June 30, 2019. Retained Core Earnings refers to the amount of Core Earnings in excess of dividends paid for the periods presented. (d) Reflects ratio of Core Earnings to dividends declared.

Originations  $1.3 billion of originations in 2 Q’ 19 and LTM (a) net fundings of $2.6 billion  Originations in U.S., U.K. and Germany demonstrate the benefit of Blackstone’s global reach ($ in billions) 2Q 2019 Origination Highlights LTM (a) Net Fundings  100% senior loans  100% floating rate $5.6 Fundings  $134 million average loan size (b) $ 2.6B Net Fundings $3.0 Repayments  U.S., U.K. and Germany (a) Represents the twelve months ended June 30, 2019. Blackstone Mortgage Trust 4 (b) Excluding upsizes and loans originated in the Walker & Dunlop joint venture.