Amended and Restated Warehousing Agreement, dated as of November 3, 2023, by and among Blackstone Holdings Finance Co. L.L.C., Blackstone Private Investment Advisors L.L.C., Blackstone Private Equity Strategies Fund L.P., Blackstone Private Equity Strategies Fund SICAV BXPE Feeder SICAV I, and Blackstone Private Equity Strategies Fund (Master) FCP BXPE Master FCP I

Finco Acquisition of Approved Warehoused Investments. In connection with the launch of BXPE, Finco hereby agrees to warehouse, directly or through its affiliates, certain BXPE Investments and to subsequently transfer such BXPE Investments to BXPE, and BXPE agrees to acquire such BXPE Investments from Finco, from time to time, on the terms described herein following the point or points in time at which BXPE has sufficient capital to acquire such investments, as determined by BPIA in its sole discretion, and subject to (i) applicable law (including obtaining any consents required to comply with Section 206(3) of the Investment Advisers Act of 1940, as amended); (ii) the terms set forth in the organizational documents of BXPE and (iii) the registration of BXPE Lux on the official list of undertakings for collective investments maintained by

Finco Investment Discretion. From time to time, including prior to the launch of BXPE, Finco may acquire certain BXPE Investments that have been approved by BPIA and BXPE’s investment committee but for which BXPE does not have sufficient capital (as determined by BPIA in its sole discretion) to invest in directly, up to an aggregate invested equity amount of $500 million (or such higher amount as is agreed between the parties) for all BXPE Investments at any point in time, subject in each case, to Finco’s approval at the time of acquisition (each, an “Approved Warehoused Investment”). For the avoidance of doubt, if an Approved Warehoused Investment is made alongside Other Blackstone Accounts or other parties, the Approved Warehoused Investment will consist of only the portion of such investment acquired or funded by Finco, directly or through its affiliates, for the purpose of transferring it to BXPE.

BXPE Fundraising. BPIA acknowledges that Finco’s approval of a BXPE Investment may be dependent on the progress of BXPE’s fundraising. As a result, BPIA will provide regular updates to Finco on fundraising efforts related to BXPE.

Transfer of Approved Warehoused Investments to BXPE. On each Warehouse Closing Date, BXPE will acquire from Finco each funded Approved Warehoused Investment selected by BPIA for such Warehouse Closing Date at a price equal to the cost of such Approved Warehoused Investment paid by Finco plus an amount equal to an annualized rate of 5% measured over the period from the date the Approved Warehoused Investment was acquired by Finco to the applicable Warehouse Closing Date. Any unfunded Approved Warehoused Investment commitments will be transferred to BXPE at no additional cost and become commitments of BXPE.

Allocation within BXPE. BPIA will determine which and what portions of Approved Warehouse Investments that BXPE U.S. and BXPE Lux will acquire on each Warehouse Closing Date.

Finco Acknowledgement. Finco acknowledges that there can be no assurance that BXPE will have sufficient capital to purchase any Approved Warehoused Investments (in which case, Finco will continue to hold any Approved Warehoused Investment for its own account, unless BPIA allocates such investment to one or more Other Blackstone Accounts (subject to such Other Blackstone Account’s consent)).

Other Blackstone Accounts. If BXPE fails to acquire the Approved Warehoused Investments (each an “Available Investment”), then BPIA and its affiliates will seek to allocate such Available Investment to one or more Other Blackstone Accounts (as applicable); provided, however, that any such allocation determination shall only occur if (i) consistent with the allocation policies and procedures of BPIA and its affiliates and applicable law, (ii) consistent with the fund documents of each Other Blackstone Account that would be offered an Available Investment, (iii) subject to BPIA and its affiliates’ determination that any such allocation is within the target hold of the Other Blackstone Account that would be offered an Available Investment, and (iv) consistent with BPIA and its affiliates’ fiduciary duties with respect to each client that would be offered an Available Investment.

Schedule of Approved Warehoused Investments. Attached as Annex A to this Agreement is a schedule of each Approved Warehoused Investment that sets forth the relevant information with respect thereto. Annex A will be updated by Finco from time to time to reflect the acquisition of each new Approved Warehoused Investment and any subsequent transfer of such Approved Warehoused Investment.

Commitments through the Warehouse Closing Date. Finco will continue to provide committed funding for Approved Warehoused Investments until the applicable Warehouse Closing Date, unless extended by the mutual agreement of the parties.

Broken Deal Expenses. BXPE will bear its proportional fees, costs and expenses, if any, incurred by or on behalf of Finco in respect of developing, negotiating and structuring prospective (or potential) investments that are approved by BPIA and the BXPE investment committee, including Approved Warehoused Investments, that are not ultimately made (to the extent not reimbursed by a third party) (“Broken Deal Expenses”), including any fees, costs and expenses incurred prior to transferring the Approved Warehoused Investments to BXPE. Any Broken Deal Expenses will be payable by BXPE on the earlier of the applicable Warehouse Closing Date or the end of termination of this Agreement.

Deal Expenses. Following the transfer of a funded Approved Warehoused Investment to BXPE, BXPE will bear all fees, costs and expenses, if any, incurred in developing, negotiating and structuring any Approved Warehoused Investment that is transferred to BXPE (to the extent not reimbursed by a third party).

Financing Expenses. Following the transfer of a funded Approved Warehoused Investment to BXPE, BXPE will bear all fees, costs and expenses, if any, incurred in developing, negotiating and structuring the BXPE Warehouse. In the event no Warehouse Closing Date occurs, any fees, costs and expenses incurred in relation to establishing the BXPE Warehouse shall be borne by Finco.

Finco Affiliates. For the avoidance of doubt, any right or obligation of Finco under this Agreement may, in Finco’s sole discretion, be exercised or performed by one or more of its affiliates.

Term. The term of this Agreement shall be for one year from the date hereof, unless extended by the mutual agreement of the parties. Unless the parties otherwise agree, no Warehouse Closing Dates shall be held after the term of this Agreement.

Miscellaneous. This Agreement may be executed in one or more counterparts, each of which will be deemed an original and all of which taken together will constitute a single document. This Agreement may be amended from time to time with the consent of the parties hereto. This Agreement shall be construed in accordance with and governed by the laws of the state of New York.