Overview of the Firm BSAA, a Delaware limited liability company, primarily provides investment advisory services to private investment funds (collectively, the “BSAA Funds”) for the purpose of providing seed capital to SAF Managers and their Underlying Investment Vehicles, which may include acceleration capital. The BSAA Funds are commonly referred to in the industry as funds of hedge funds. BSAA is an affiliate of Blackstone Alternative Asset Management L.P. (“BAAM”), a leading multi-asset investment provider. BSAA derives significant benefits from the experience of BAAM in the investment, operational, legal, structuring and compliance aspects of hedge funds. BSAA was founded in 2007 as part of Blackstone Inc. (NYSE: BX) (“Blackstone”), which is the ultimate parent of BSAA and BAAM. Blackstone is a leading alternative investment manager with investment programs and services concentrating in the private equity, real estate and debt / credit and secondaries business, as well as the hedge fund solutions business. BSAA shares employees and facilities with BAAM, Blackstone Alternative Solutions L.L.C. (“BAS”), and Blackstone Alternative Investment Advisors LLC (“BAIA”), each a registered investment adviser. Please see Item 10 – Other Financial Industry Activities and Affiliations for more information. BSAA’s assets under management (“AUM”) were $3 billion as of December 31, 2023. This includes committed capital that has not been drawn. Please note that this is an unaudited estimate.
Blackstone Strategic Alliance Advisors L.L.C. Blackstone | 5 Overview of Advisory Services As investment adviser to the BSAA Funds, BSAA:  Identifies and implements investment opportunities for the BSAA Funds;  Participates in the monitoring of the BSAA Funds’ investments;  Makes decisions on behalf of the BSAA Funds to make and/or redeem or otherwise monetize investments;  May engage in foreign currency hedging transactions and/or the hedging of certain market exposures for certain BSAA Funds; and  May facilitate credit arrangements with a third party on behalf of certain BSAA

Funds to allow the BSAA Funds to borrow for bridge financing purposes and to leverage their investments (within any leverage limits stated in the Client Constituent Documents). The BSAA Funds’ strategy is to provide seed capital to SAF Managers and their Underlying Investment Vehicles, which may include acceleration capital. The SAF Managers pursue a wide variety of investment strategies and invest or trade in a wide variety of securities and other instruments, including, but not limited to, equities and fixed income securities, currencies, commodities, futures contracts, options and other derivative instruments, all of which may be listed or unlisted, rated or unrated, distressed or publicly or privately issued. From time to time, BSAA Funds may also invest in separate managed accounts with SAF Managers. BSAA typically negotiates on behalf of the BSAA Funds for a contractual right to receive a portion of Underlying Managers’ asset-based fees and payments and/or performance / incentive fees and/or allocations (collectively, the “Manager Profit Interests”). BSAA also typically negotiates for the BSAA Funds to participate in the buyout, sale or other realization or monetization of the value of the Manager Profit Interests (collectively, the “Manager Buyout Interests” and with the Manager Profits Interests, the “Manager Revenues”). Investors in the BSAA Funds also participate in any profit or loss associated with the investment that the BSAA Funds make in the Underlying Investment Vehicles. BSAA Fund Typical Investment in an Underlying Manager Blackstone Strategic Alliance Advisors L.L.C. Blackstone | 6 Standard Investment in an Underlying Manager The BSAA Funds also are authorized to (i) provide working capital to Underlying Managers by, among other things, providing a prepayment of asset-based fees associated with their investment in the Underlying Investment Vehicles, or making loans (e.g., by deferring their right to receive revenues in respect of the Manager Profits Interests) to Underlying Managers, and (ii) make selected co-investments directly in securities or other investments alongside Underlying Managers (“Co-Investments”). Blackstone Strategic Alliance Advisors L.L.C. Blackstone | 7