522509 GHISLAINE MAXWELL 116 E 65TH STREET NEW YORK, NY 10065-7007 Dear Unit Holder: NYSE: BX For Questions Regarding Your Tax Package Contact Partner DataLink Partner DataLink The Blackstone Group L.P. PO. Box 8447 Hermitage. TN 37076-8447 Phone: (855)375-4158 Fax: (215) 982-6302 Email: [email protected] Website: www.PartnerDataLinkcomalackstone The Blackstone Group L.P. (BX) is pleased to enclose your 2014 tax information. This information is provided to assist you in reporting your allocable share of partnership items in your income tax returns. We are also enclosing for your general guidance the IRS 2014 Partner's Instructions for Schedule K-1. We recommend that you consider discussing this information with your personal tax advisor. As a publicly traded partnership, BX is generally not subject to income tax. However, our Unit Holders may be subject to federal, state and city income tax reporting in jurisdictions where they are resident and where BX has operations. In addition, Unit Holders who are not resident in the U.S. may be subject to U.S. tax reporting and U.S. withholding tax. The enclosed information includes an Ownership Schedule and if applicable, a Sales Schedule. This information can be used to help you calculate any gain or loss on transfers or other dispositions of units made during 2014. We encourage you to review the information contained in these Schedules to ensure that there are no errors or inconsistencies. If any inconsistencies are noted, please contact Partner Data Link via email at [email protected] or by phone at (855) 375-4156. If we receive your revisions prior to June 30, 2015, we will update our records and issue a new Schedule K-1, which will be filed with the IRS. Sincerely, The Blackstone Group L.P. CONFIDENTIAL UBSTERRAMAR00000953 EFTA00236626