BLACKSTONE MORTGAGE TRUST, INC.

Section 13(r) Disclosure

Pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012, which added Section 13(r) of

the Exchange Act, we hereby incorporate by reference herein Exhibit 99.1 of this report, which includes disclosures

regarding activities at Mundys S.p.A., which may be, or may have been at the time considered to be, an affiliate of

Blackstone and, which may be, or may have been at the time considered to be, our affiliate.

Rule 10b5-1 Trading Arrangements

During thethree months ended March 31, 2025, three of our officers adopted a “Rule 10b5-1 trading arrangement,” as

defined in Item 408(c) of Regulation S-K, each of which is intended to satisfy the affirmative defense of Rule 10b5-1(c)

under the Exchange Act. Katharine A. Keenan, our Chief Executive Officer, adopted a Rule 10b5-1 sales plan on March

18, 2025 that provides for the automatic sale of shares of class A common stock in order to satisfy tax withholding

obligations arising from vesting of an aggregate of 51,850 shares of restricted stock granted on December 15, 2024, held by

Ms. Keenan. The number of shares to be sold under the plan is unknown, as the number of shares will vary based on the

extent to which vesting conditions are satisfied and the market price of our class A common stock at the time of vesting.

Ms. Keenan’s Rule 10b5-1 sales plan will expire on December 31, 2027, subject to the plan’s earlier expiration or

completion in accordance with its terms. Anthony F. Marone, Jr., our Chief Financial Officer, adopted a Rule 10b5-1 sales

plan on March 6, 2025 that provides for the automatic sale of shares of class A common stock in order to satisfy tax

withholding obligations arising from vesting of an aggregate of 12,000 shares of restricted stock granted on December 15,

2024, held by Mr. Marone. The number of shares to be sold under the plan is unknown, as the number of shares will vary

based on the extent to which vesting conditions are satisfied and the market price of our class A common stock at the time

of vesting. Mr. Marone’s Rule 10b5-1 sales plan will expire on December 31, 2027, subject to the plan’s earlier expiration

or completion in accordance with its terms. Marcin Urbaszek, our Deputy Chief Financial Officer, adopted a Rule 10b5-1

sales plan on March 6, 2025 that provides for the automatic sale of shares of class A common stock in order to satisfy tax

withholding obligations arising from vesting of an aggregate of 12,889 shares of restricted stock granted on December 15,

2024, held by Mr. Urbaszek. The number of shares to be sold under the plan is unknown, as the number of shares will vary

based on the extent to which vesting conditions are satisfied and the market price of our class A common stock at the time

of vesting. Mr. Urbaszek’s Rule 10b5-1 sales plan will expire on December 31, 2027, subject to the plan’s earlier

expiration or completion in accordance with its terms.