BLACKSTONE MORTGAGE TRUST, INC.

Rule 10b5-1 Trading Arrangements

During thethree months ended March 31, 2026, two 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. Marcin Urbaszek, our Chief Financial Officer, adopted a Rule 10b5-1 sales plan on February 27,

2026 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 15,337 shares of restricted stock granted on December 15, 2025, 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, 2028, subject to the plan’s earlier expiration or

completion in accordance with its terms. F. Austin Peña, our President, adopted a Rule 10b5-1 sales plan on March 26,

2026 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 36,843 shares of restricted stock granted on December 15, 2025, held by Mr. Peña.

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. Peña’s Rule

10b5-1 sales plan will expire on December 31, 2028, subject to the plan’s earlier expiration or completion in accordance

with its terms.